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Power Finance Corporation (PFC) on Friday said it has entered into loan agreements worth more than Rs 2.37 lakh crore with 20 companies. These firms include Adani Group, Greenco, ReNew Power, Continuum, Avaada, JBM Auto, Rajasthan Renewable Energy and Megha Engineering & Infrastructure, among
Proposal also included plans to up charging stations, research and development, and training centres in India
The Narendra Modi government has trashed Chinese automaker BYD’s proposal to set up a $1 billion manufacturing plant in India, reported Economic Times on Saturday. The Chinese EV giant had earlier submitted a proposal to build EVs as well as electric batteries in India in partnership with an Indian EV company Megha Engineering and Infrastructure Ltd.
Chinese EV giant BYD Motors' plan to establish an electric vehicle manufacturing facility in India has faced a setback as the Indian government rejected the proposal citing “security concerns.” BYD Motors, in collaboration with Megha Engineering and Infrastructures Ltd (MEIL) based in Hyderabad, had intended to invest $1 billion in setting up a four-wheeler manufacturing facility in India. According to an official familiar with the matter who spoke to news agencies, “Security concerns with respect to Chinese investments in India
PFC enjoys the unique advantage of providing funds for longer tenure at competitive rates and taking larger exposures. It is looking to fund projects like offshore wind, pumped hydro storage, solar modules and cells, among others in the clean energy space