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Big-ticket motorsport action returns to India after a decade with Hyderabad becoming the 30th location to host a <keyword id="1378541" type="General" weightage="100" keywordseo="formula-e" source="Orion">Formula E</keyword> race. Here is all you need to know about the all-electric racing series ahead of its first race in India on Saturday. Formula E is an electric equivalent of the widely followed Formula 1 which was staged in India from 2011 to 2013. However, other than the 'Formula' prefix, there is no similarity between the two FIA world championship status events. The hybrid turbo-charged engines in Formula 1 are the epitome of performance while the battery-powered Formula E machines promote sustainability and a greener world. Formula E is racing with a purpose but its cars have rapidly evolved over the last eight seasons and Gen3 technology has been introduced this season. As the series claims, Gen3 is the fastest, lightest, most powerful and efficient car in its history. It has a top speed of 320 kmph, a 100kmph faster than the first generation cars used from 2014-2017. The Gen2 cars were run from 2018-2022 and they could touch speeds over 280kmph. Since most of the Formula E races are held on the twisty street circuits around the world with not so long straights, top speeds are not reached often. 40 percent of energy produced while braking In the first season, the batteries could only produce 200kw of power requiring the drivers to swap cars midway into the race. The introduction of the more powerful Gen2 cars meant the cars could last the full race distance. The power output has been increased to 350kw in the Gen3 cars and with regeneration, it could go up to 600kw. More than 40 percent of the energy will come from regenerative braking, an increase of 25 percent over Gen2 machines. The series has a new tyre supplier in Hankook but drivers are not fully satisfied with its performance. The latest cars are also 60kg lighter than the previous generation and weigh at 840kg. Homecoming for <keyword id="583864" type="General" weightage="50" keywordseo="mahindra-racing" source="Orion">Mahindra Racing</keyword> Mahindra Racing, which has been with Formula E since its inception, will finally get to experience the thrill of a home race after eight seasons. The other manufacturers in the championship include Nissan, Porsche, Tata owned Jaguar. <keyword id="64813" type="General" weightage="50" keywordseo="mclaren" source="Orion">McLaren</keyword> and <keyword id="301878" type="General" weightage="50" keywordseo="maserati" source="Orion">Maserati</keyword> are the new entrants. After winning the title last season, Mercedes withdrew from the championship. Audi and BMW too are no longer part of the championship. After a podium in the opening race of the season in Mexico, Mahindra will be hoping for an encore. The racing format To ensure minimum disruption in public life, most of the action is packed in one day with FP2, qualifying and race scheduled on Saturday. Formula E introduced a new qualifying format last season calling it "Duels" with drivers taking on each other in quarterfinals, semifinals and finals after qualifying from group stage. The winning driver of the final duel takes Pole Position, while the runner-up lines up second. The semi-finalists will line up third and fourth, the quarter-finalists between fifth and eighth - according to their laptimes. The Hyderabad track The 2.83km track set up in the heart of the city showcases the best of what Hyderabad has to offer. The cars will vroom around the Hussain Sagar Lake, NTR Gardens, NTR Park and Prasads' Imax, covering the necklace road. Hyderabad will be round four of the championship. Saudia Arabia hosted two races in January after the season opener in Mexico. Formula E sees India as a huge market and hopes to have a long future in the country. "It took us too long to get to India. We will be here until they want us," Formula E co-founder Alberto Longo had said after marking the 100-day countdown to the race. Renewable energy major <keyword id="405998" type="General" weightage="50" keywordseo="greenko" source="Orion">Greenko</keyword> is the local promoter of the race alongside Telangana government. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/pakistan-pumps-run-out-of-petrol-disrupts-routine-life-of-people-says-a-dawn-report/articleshow/97795433.cms">Pakistan pumps run out of petrol, disrupts routine life of people says a Dawn report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/game-of-thrones-spider-man-no-way-home-among-most-pirated-content-in-india-in-2022/articleshow/97795322.cms">Game of Thrones, Spider-Man: No Way Home among most-pirated content in India in 2022</a>

What is Formula E? All you need to know ahead of inaugural race in India

<keyword id="6354552" type="General" weightage="80" keywordseo="hyderabad" source="Orion">Hyderabad</keyword> on Monday achieved the distinction of becoming first Indian candidate city to host <keyword id="1378541" type="General" weightage="100" keywordseo="formula-e" source="Orion">Formula E</keyword> world championship and is expected to host the first race of electric cars between November this year and March 2023. The <keyword id="68884" type="General" weightage="20" keywordseo="telangana" source="Orion">Telangana</keyword> government and Formula E Association along with promoter of the event, <keyword id="405998" type="General" weightage="20" keywordseo="greenko" source="Orion">Greenko</keyword> signed a letter of intent to make Hyderabad a candidate host city for hosting Formula E race on yearly basis. The tripartite letter of intent was signed in Hyderabad in the presence of Telangana's Industry Minister <keyword id="3863563" type="General" weightage="20" keywordseo="k-t-rama-rao" source="Orion">K. T. Rama Rao</keyword>, FIA Formula E Chief Championship Officer Alberto Longo, Greenko Group Chief Executive Officer Anil Chalamasetty, <keyword id="583864" type="General" weightage="20" keywordseo="mahindra-racing" source="Orion">Mahindra Racing</keyword> CEO and Team Principal Dilbagh Gill and other officials. Hyderabad will join the elite club of Rome, Paris, London, Hong Kong, New York and Berlin. Eighteen cities around the world are hosting the race organised every year by the Federation of Internationale de Automobile. Alberto was impressed with the speed with which the Telangana government moved to sign the letter of intent in less than a month since the idea was mooted. He said he had never seen a government taking decisions at such a speed. He said Hyderabad would soon become official host city with first race happening between December 2022 and March 2023. Rama Rao said hosting Formula E is the right step to position Hyderabad as electric vehicles hub. "It's more than a race. It's the perfect combination of future technology, sustainability and most importantly spirit of innovation," he said. He hoped that the event will give a big fillip to the city's image and infrastructure. The state government plans to promote awareness around EVs and encourage innovation by hosting an EV summit parallel to the Formula E championship. Leading EV players and charging infrastructure companies from around the world will be invited for the EV Summit. Stating that India is going to witness revolution of electric vehicles, the minister said Telangana wants to be the epicentre of this revolution. KTR, as the minister is popularly known, said Formula E from FIA family is the fastest growing sport with viewership being more than half of Formula One. He said the popularity of Formula One is increasing every year and it is expected that by the end of the decade, it will equal Formula One in the popularity. He said Hyderabad has everything in place to host the event. "Hyderabad is the most logical and natural choice to host Formula E," he said. The minister claimed that Telangana has done extremely well in 7.5 years in meeting energy challenges. The state's energy output grew four-fold in 7 years and 20 per cent of this came from green energy. He also pointed out that in seven years, the state planted more than 2 billion saplings. More than 80 per cent of these saplings survived, taking green cover to a massive 632 square kilometers in last two years. KTR said among Indian cities Hyderabad has highest greening in last decade. The green cover grew by 147 per cent, beating Delhi, Mumbai, Bengaluru, and Chennai. Telangana's Director for Electric Vehicles and Energy Storage Systems Sujai Karampuri hoped that an agreement to make Hyderabad an official host city will be signed in next 90 days or much earlier. He pointed out that 60 cities around the world were vying to host Formula E and of them 24 cities are really strong candidates. He said the organisers were impressed with the 2.3 km long race track overlooking Hussain Sagar lake in the heart of the city. Gill, who heads the only Indian team participating in Formula E race, said they will soon have an opportunity to race in front of the home crowd. According to him, Formula E is significant as technology transfer from race car to roll car happens in 18 months. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/tesla-india-prospects-get-a-boost-as-states-compete-with-each-other-to-invite-elon-musk-to-their-backyard/articleshow/88890951.cms">Tesla India prospects get a boost as states compete with each other to invite Elon Musk to their backyard</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s21-fe-5g-first-impressions-old-wine-in-a-new-bottle/articleshow/88808647.cms">Samsung Galaxy S21 FE 5G first impressions – old wine in a new bottle</a> <a href="https://www.businessinsider.in/tech/news/amazon-republic-day-sale-2022-deals-and-discounts-on-smartphones/articleshow/88871874.cms">Amazon Republic Day Sale 2022 — Mobile phone deals to expect</a>

Hyderabad first Indian city to host Formula E, an electric car championship

New Delhi, Mar 11 () Fair trade regulator CCI has approved the acquisition of about 35 per cent equity stake in Teesta Urja Ltd by Greenko Mauritius, according to the Ministry of Corporate Affairs. "The proposed combination relates to the acquisition by Greenko of approximately 35 per cent equity stake in the paid-up equity share capital of Teesta Urja Ltd," it said in a release. Greenko Mauritius is a wholly-owned subsidiary of Mauritius-based Greenko Energy Holdings. Teesta Urja is a special purpose vehicle incorporated for implementation of a 1,200 MW hydro power project in North Sikkim, the release said. In a separate statement, the Competition Commission of India (CCI) on Wednesday said it has approved setting up of Mindspace REIT (real estate investment trust) by K Raheja Corp Group. The proposed transaction also involves "acquisition of certain equity shareholding held by selling shareholders in the Target Entities by REIT." The target entities are K Raheja IT Park (Hyderabad) Ltd, Intime Properties Ltd, Sundew Properties Ltd, Avacado Properties and Trading (India) Pvt Ltd, Gigaplex Estate Pvt Ltd, KRC Infrastructure and Projects Pvt Ltd, Horizonview Properties Pvt Ltd and Mindspace Business Parks Pvt Ltd. The target entities are special purpose vehicles and are active in the commercial real estate industry, it added. SRS ABMABM

CCI approves acquisition of equity stake in Teesta Urja by Greenko Mauritius

Billionaire Mukesh <keyword id="19898589" type="General" weightage="20" keywordseo="ambani" source="keywords">Ambani</keyword>'s <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> Ltd will commission a new energy <keyword id="20278828" type="General" weightage="20" keywordseo="giga-complex" source="Orion">giga complex</keyword> in <keyword id="6354766" type="General" weightage="20" keywordseo="gujarat" source="Orion">Gujarat</keyword> in the second half of 2024, the company said in an earnings statement and investor call. <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword> is building a giga complex spread over 5,000 acres in <keyword id="6361405" type="General" weightage="20" keywordseo="jamnagar" source="Orion">Jamnagar</keyword> in Gujarat. The complex comprises five giga factories for photovoltaic panels, fuel cell system, green hydrogen, energy storage and power electronics. "On track to commence new energy facilities in phases this year," the company said in a post-third-quarter earnings call with investors. Post announcement of third-quarter earnings on Friday, Ambani stated that the "New Energy Giga Complex is all set to be commissioned in the second half of CY24. I am confident that Reliance's New <keyword id="679565" type="General" weightage="20" keywordseo="energy-business" source="Orion">Energy business</keyword> will play a pivotal role in the global movement for adoption of cleaner fuels." The Dhirubhai Ambani Green Energy Giga Complex will be among the largest integrated renewable energy manufacturing facilities in the world. Reliance has signed an MoU with the Gujarat government to set up 100 gigawatt renewable power at Rs 5 lakh crore capex. It has received in-principle approval for 74,750 hectares (ha.) of land parcels in Kutch for green hydrogen. The firm has strategically invested in ten global technology innovators with strong expertise across the new energy value chain. "Reliance is nearing the commissioning of the first tranche of 5GW module manufacturing capacity in mid-CY24," Nuvama said in a January 17 note. It has via REC Solar signed a supply agreement with China-based Suzhou Maxwell Technologies to buy a high efficiency production line for HJT cells (4.8GW capacity). It signed a 5.2GW HJT module automation production agreement with China-based SC Solar in January 2023. It won PLIs under both rounds of solar modules PLI (Round 1: USD 0.3 billion, 4GW; Round 2: USD 0.4 billion, 6GW). Reliance (apart from Greenko) is the only company to win incentives for both green hydrogen and electrolysers concluded recently. It won incentives of USD 0.3 per kg for electrolyser capacity of 300MW and USD 0.23 for green hydrogen capacity of 90,000 tonnes. Besides, it has won PLI under ACC battery storage for 5GW capacity. "These incentives are likely to assist Reliance achieve a green hydrogen cost of USD 1' 1.5 per kg," Nuvama said. Given <keyword id="20002939" type="General" weightage="20" keywordseo="ril" source="keywords">RIL</keyword> is the largest producer and consumer of grey hydrogen, transition to green hydrogen shall enable it to improve margins ahead, it said. The current green hydrogen cost hovers USD 3 per kg, which remains 1.5x compared to grey hydrogen produced using natural gas due to the high cost of generating solar/wind energy as well as high electrolyser cost. Presently, a hybrid of solar and wind remains the cheapest source of generating green hydrogen. The cost for solar remains the highest due to low PLF of electrolysers at 30' 35 per cent versus wind at 65' 70 per cent, and for hybrid 70' 75 per cent.

Reliance to commission new energy giga complex this year

<ul><li><keyword id="1402930" type="General" weightage="50" keywordseo="state-discom" source="Orion">State discom</keyword> legacy dues to <keyword id="3278843" type="General" weightage="80" keywordseo="gencos" source="Orion">gencos</keyword> have more than halved from ₹1.38 lakh crore last June last year to ₹61,000 crore as of 24 July 2023.</li><li>This was due to the introduction of a late payment scheme which penalizes discoms for delaying payments.</li><li><keyword id="14181100" type="General" weightage="50" keywordseo="green-energy-open-access-rules" source="Orion">Green Energy Open Access Rules</keyword> also reduced the minimum offtake threshold for consumers.</li><li>Commercial &amp; industrial consumers can also demand green power from state discoms voluntarily. </li></ul>India’s green power generators have been gaining from increased payment discipline amongst state distribution companies or discoms after the government introduced late payment surcharge scheme (LPS) last year. That’s good news for renewable power generators like Greenko, ReNew, <keyword id="45417" type="General" weightage="50" keywordseo="adani-power" source="Orion">Adani Power</keyword> and more who will now be assured of faster payments. The scheme has made good progress with payment discipline amongst state distribution companies as state discom legacy dues to gencos have more than halved from ₹1.38 lakh crore in June last year to ₹61,000 crore as of 24 July 2023, says a report by CreditSights. Also, Power Finance Corporation (PFC) and <keyword id="64468" type="General" weightage="50" keywordseo="rural-electrification-corporation" source="Orion">Rural Electrification Corporation</keyword> (REC) have been funding various state governments to help clear these dues. In the last one year, both these public sector companies (PSUs) have given multibagger returns to their investors — at 162% and 154% respectively. Most power generators with a renewable energy portfolio have also been gaining ground. What’s the scheme? As per the scheme, state discoms who delay their payments beyond the default trigger date, will lose short-term power access. Apart from that, progressively these restrictions would increase each month for medium and long-term power access as well for each month of non-payment. The scheme is a game changer for the renewable power generators who are stuck with large capex costs along with delayed payments. “It (the scheme) reduced the counterparty credit risks posed by the state discoms. Not only would the state discoms have to clear their sizable backlog of owed dues to the gencos, they would also be more disincentivized to delay payments to the gencos given the punitive penalties,” said the CreditSights report. Gencos who are able to receive timely payments can improve their account receivables, working capital positions and cash flows. “Investor sentiment in the sector has also improved materially post the LPS scheme, based on our discussions with market participants,” CreditSights observed. More green consumers In the Union Budget 21-22, eligible Indian states were granted additional borrowing limits of 0.25% - 0.5% of annual Gross State Domestic Product (GSDP). This was applicable over a four-year period from FY22-FY25. Some of these benefits have flowed to the state discoms. Till date, ₹66,400 crore of additional borrowing permissions have been granted to the states — for financial support to the state discoms, the report said. The government also came up with Green Energy Open Access Rules in June last year, which helped improve offtake of renewable power. It reduced the renewable energy minimum offtake threshold of consumers from 1 MW to 100 kW. It also allows commercial &amp; industrial consumers to demand green power on a voluntary basis from state discoms. It also provided clarity on final tariffs charged to consumers of renewable energy, bringing in more transparency into the system. These new rules will drive better transparency, access and stronger demand for renewable energy across the smaller C&amp;I customers, CreditSights opines. The Indian government has set an ambitious target to convert 40% of total installed power capacity green by 2030. That means India would have to add 250 GW of renewable energy capacity between 2023-2027 – and it has been working actively to clear bottlenecks along the way, most of which is ensuring these green power producers are paid on time.

Indian green power generators are gaining from more takers & timely payments

<ul><li><keyword id="6370462" type="General" weightage="80" keywordseo="tata-communications" source="Orion">Tata Communications</keyword> has partnered with <keyword id="1378541" type="General" weightage="100" keywordseo="formula-e" source="Orion">Formula E</keyword> to become the official broadcast distributor of the <keyword id="15434750" type="General" weightage="50" keywordseo="formula-e-world-championship" source="Orion">Formula E World Championship</keyword>.</li><li>The two companies have announced a multi-year strategic partnership.</li><li>The company has adopted a remote broadcast model aimed at reducing the environmental impact of sports broadcasting.</li></ul>Formula-E has signed a multi-year strategic partnership with Indian telecommunications giant Tata Communications to become the official broadcast distributor to the ABB FIA Formula E World Championship. As part of the agreement, Tata Communications will deliver high-definition and high-speed live broadcast to viewers across the world as part of Formula E’s new remote broadcast production. The aim of this is to reduce the environmental impact of sports broadcasting while also reducing the cost. Tata Communications was responsible for the broadcast at the 2023 Greenko E-Prix held in Hyderabad, the first Formula E race in India. "There are 85 cameras capturing the event for over 400 million people watching all over the world. To be able to facilitate that truly speaks about the power of internet that we have been able to leverage, with our dedicated media cloud and edge computing capabilities. And apart from our long-standing partnership with FIA, we extend the services to multiple major sporting leagues across the world,” said <keyword id="7935940" type="General" weightage="50" keywordseo="as-lakshminarayanan" source="Orion">AS Lakshminarayanan</keyword>, chief executive officer, Tata Communications. <cmsannotation type="cmsannotation" annotationid="Remote broadcasting" comment="subhead" text="Remote broadcasting">Remote broadcasting</cmsannotation> As part of the remote broadcasting setup, Tata Communications will deliver more than 160 live video and audio signals from Formula E races across continents using 26 media edge locations across North America, Europe and Asia. <keyword id="3287500" type="General" weightage="50" keywordseo="jamie-reigle" source="Orion">Jamie Reigle</keyword>, chief executive officer, Formula E said the partnership with Tata Communications has helped reduce the cost by 30 to 40% and the central broadcast hub in London has helped in reducing emissions. "Formula E is an intense tour given its on-the-go nature. Tata Communications' support over the years has enabled state-of-the-art remote production possible, with real-time TV signal transmissions from the race venues to our broadcast centre in London and finally to the audience's screens. Thus, bringing down multiple logistical challenges, driving cost efficiencies, travel flexibilities for our employee, especially women, and reducing emissions," said Reigle <keyword id="16475951" type="General" weightage="50" keywordseo="eric-ernst" source="Orion">Eric Ernst</keyword>, the technology director at Formula E told Business Insider India that the new broadcast system that depends on public internet lines instead of leased lines has helped reduce the cost by around 40%. The company’s plug-and-play setup has also made logistics easier as there is a huge reduction in the setup size and the people required to operate. “We have 50% less freight and people, which has played a big role in reducing the logistics cost,” said Ernst. The company employs 49 people at its London centre and has an entourage of 51 people that travel along with the equipment to the race track. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/ola-s1-pro-move-os-3-review-proximity-unlock-calling-support-hypercharging-support-and-more/articleshow/97806031.cms">Ola S1 Pro Move OS 3 review – proximity unlock, calling support, hypercharging support, and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-13-pro-with-leica-powered-camera-to-launch-in-india-on-february-26-heres-how-its-camera-was-made/articleshow/97765165.cms">Xiaomi 13 Pro with Leica-powered camera to launch in India on February 26 — here’s how its camera was made</a> <a href="https://www.businessinsider.in/tech/news/twitter-blue-launched-in-india-pricing-what-it-offers-and-should-you-subscribe/articleshow/97756303.cms">Twitter Blue launched in India – pricing, what it offers, and should you subscribe?</a>

Formula E partners with Tata Communications to reduce environmental impact of broadcasting

Hyderabad, Mar 28 (): Infrastructure major, MeghaEngineering and Infrastructure Limited (MEIL) offered ahelping hand to various states in the battle againstcoronavirus.MEIL managing director PV Krishna Reddy has donated Rs5 crore each to the Chief Minister's relief funds of AP andTelangana.The infra major has handed over a cheque for Rs 2crore to Karnataka Chief Minister B S Yeddyurappa, Rs onecrore to Odisha Chief Minister Naveen Patnaik.Similarly, Greenko, city-based renewable powerproducer, has announced Rs 10 crore donation to the centre,Andhra Pradesh and Telangana.The company announced Rs five crore to the centre, andRs 2.5 crore each to the Chief Minister's relief funds of APand Telangana, Greenko said in a statement issued on Fridaynight."At Greenko, we care deeply for our people andcommunities and wish to contribute in all ways possible toovercome this global challenge," it said. GDK SS

Donations pour in for coronavirus relief in Telangana

<ul><li>NIIF’s MD and CEO Sujoy Bose gives a break up of investments across sectors to hit its <keyword id="34553" type="General" weightage="20" keywordseo="renewable-energy" source="Orion">renewable energy</keyword> targets by 2030.</li><li><keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> needs to invest $200 billion to set up 500GW of non-fossil fuel energy. </li><li>The country needs $160 billion to fund its <keyword id="8411893" type="General" weightage="20" keywordseo="green-hydrogen" source="Orion">green hydrogen</keyword> goals. </li><li>The capex that must be spent towards electric vehicles is $200 billion, says Bose.</li></ul>India needs hundreds of billions of dollars in capital infusion to meet its sustainability and renewable energy targets. Sujoy Bose, the MD and CEO of the National Investment and Infrastructure Fund, has put a number on it – $560 billion. That’s more than a seventh of India’s current GDP of $3.5 trillion. According to Bose, India needs to invest trillions of dollars to achieve its goal of “Net Zero” by 2070. Bose said India’s sustainability goals could not only help it environmentally, but also economically. “India can become a new hub for technology and its deployment. Investing in sustainability is required to be at the forefront of new industries,” Bose said at the annual FICCI Capital Markets conference, adding that these investments could lead to new, higher income jobs as well. This has the implication of uplifting India’s median wages as well, which stood at $400, placed 72nd among 106 countries in a 2020 survey. Here’s a breakdown of the different renewable energy bills India will need to fund, according to Bose: <cmsannotation type="cmsannotation" annotationid="$200 billion for 500GW of non-fossil fuel energy by 2030" comment="subhead" text="$200 billion for 500GW of non-fossil fuel energy by 2030">$200 billion for 500GW of non-fossil fuel energy by 2030</cmsannotation> Currently, 40% of India’s total energy needs are met by renewables and hydro power. The government intends to increase this to 60% by the end of the decade, and that will need over $200 billion in funds, according to Bose. As of now, India’s total renewable energy capacity stands at 160GW, and the government has a goal of expanding it to 500GW by 2030. By the government’s estimates, India’s total energy capacity would more than double from the current 404GW to 820GW by 2030. <cmsannotation type="cmsannotation" annotationid="$160 billion to fund India’s green hydrogen goals" comment="subhead" text="$160 billion to fund India’s green hydrogen goals">$160 billion to fund India’s green hydrogen goals</cmsannotation> Green hydrogen is being seen by many as a key component of achieving “Net Zero” status. This prospect has India’s richest men – Gautam Adani and Mukesh Ambani – excited. Earlier this year, Adani Enterprises announced a partnership with France’s TotalEnergies to create a green hydrogen ecosystem with an investment of $50 billion over the next 10 years. Ambani, on the other hand, pledged $75 billion towards <keyword id="60895" type="General" weightage="20" keywordseo="green-energy" source="Orion">green energy</keyword> – including an undisclosed sum towards green hydrogen. Yet, these announcements are still not close to the total capex required for green hydrogen goals. But help is coming, including from the state-run Indian Oil Corporation, and the Hyderabad-based Greenko group. <cmsannotation type="cmsannotation" annotationid="$200 billion for India’s EV goals by 2030" comment="subhead" text="$200 billion for India’s EV goals by 2030">$200 billion for India’s EV goals by 2030</cmsannotation> The EV revolution might still be on its way to India, but there has been an uptick in EV sales over the past two years — inching towards 5 lakh units. A report by India Energy Storage Alliance (IESA) states that EV sales could increase at a compounded annual growth rate of 49% till 2030, touching total sales of 17 million. For that to materialize, though, Bose says a massive $200 billion capex is needed. <cmsannotation type="cmsannotation" annotationid="Here’s how India can fund its renewable energy goals" comment="subhead" text="Here’s how India can fund its renewable energy goals">Here’s how India can fund its renewable energy goals</cmsannotation> According to Bose, three types of capital will be required to fund India’s renewable energy goals, including equity, risk capital, and debt. “The government has shown the way via the regulatory innovation in the case of renewable energy – the creation of the Solar Energy Corp of India, combined with tools such as priority dispatch, was crucial to give a fillip to private investment in the renewable sector,” he said. He says this has led to renewable energy generation being cheaper than coal-fired power in many cases. For now, though, most of the equity investment in the renewable energy sector is foreign. Bose says that linking international and domestic finance to climate-related projects will help close the gap. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/cant-be-locking-horns-with-zomato-and-swiggy-says-restaurant-body/articleshow/94203208.cms">Can’t be locking horns with Zomato and Swiggy, says restaurant body</a> <a href="https://www.businessinsider.in/stock-market/news/these-are-the-best-and-worst-performing-nifty-indices-in-2022-so-far/articleshow/94149156.cms">These are the best and worst performing Nifty indices in 2022 so far</a> <a href="https://www.businessinsider.in/stock-market/news/explained-what-are-you-in-investing-in-when-youre-investing-in-nifty50/articleshow/94041896.cms">Explained: What are you investing in when you’re investing in Nifty50</a>

The bill for India's renewable energy goals by 2030 – $560 billion

<ul><li>According to reports, <keyword id="34499" type="POSITION" weightage="20" keywordseo="private-equity">private equity</keyword> and <keyword id="6357097" type="DEFINITION" weightage="20" keywordseo="Venture-Capital">venture capital</keyword> investments grew 14% in February with investments worth $1.96 billion. </li><li>The investments are up thanks to large ticket deals across the country. </li><li>With India’s rising number of unicorns and relaxed norms for angel tax, the country is set to see funding deals across stages.</li></ul>For Indians startups it has been a great start to the year with increased funding. In February alone, private equity and venture capital investments grew 14% with investments worth $1.96 billion happening in India, according to data from Venture Intelligence, a data research firm. The month of January had seen a total of <a href="https://timesofindia.indiatimes.com/business/india-business/pe-vc-funding-up-14-on-big-ticket-push/articleshow/68261744.cms">$1.71</a> billion investment for startups and businesses alike. The funding in February grew by 40% when compared to investments in February 2018. <table style="border-width: initial; border-style: none; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">February 2018 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">February 2019 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Total PE/VC investments in $mn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">1,401 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">1,963 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">January 2018 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">January 2019 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">Total PE/VC investments in $mn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">2,254 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;">1,719 </td></tr></tbody></table> Data from Venture Intelligence So far this year, while the number of deals have dropped since the same period last year, there has been a rise in the deal value. That is because of large ticket <keyword id="7399281" type="UNKNOWN" weightage="20" keywordseo="investments-in-2019">investments in 2019</keyword> that led to the increase in total amount of funding in the first two months of 2019. According to the report, investments in Greenko Energy, Aadhar Housing Finance, Ayana Renewable Power along with a bunch of startup deals helped rake up the numbers in February this year. "An increase in large-ticket investments also reflects the rise in confidence of the investors and strengthening the role of PE/VC fraternity as growth capital providers," Pankaj Chopda, director, Grant Thornton India LLP had earlier told <a href="https://economictimes.indiatimes.com/markets/stocks/news/pe-investments-see-36-rise-in-jan-grant-thornton/articleshow/68188905.cms">ET </a>regarding the growth in investments in January, For early-stage deals in the country, a big relief came in from the Indian government by changing the definition of startup to exclude the burden of Angel Tax. An entity will now be considered a startup for a period of 10 years from the date of its incorporation as opposed to the earlier norm of seven years, according to an official Gazette notification by the government. The exemption for angel tax for shares issued or proposed has also been hiked to an aggregate limit of ₹25 crore from ₹10 crore. This will likely further boost investments in the country as early stage investors will not be wary of tax. India’s fast-growing startups have garnered interest from PE/VC funds from across the world. There are now over 20 unicorns in the country. With many more like logistics startup Rivigo, e-commerce startup BigBasket steps away from rising to the unicorn status, India is surely set to see more funding soon. See Also: <a href="https://www.businessinsider.in/delhivery-raises-395-million-from-softbank-enters-the-unicorn-club-of-india/articleshow/68287009.cms">Delhivery becomes India’s first unicorn in 2019, thanks to SoftBank</a> <a href="https://www.businessinsider.in/after-minting-1-billion-from-flipkart-sale-sachin-bansal-is-now-betting-big-on-ola/articleshow/67526383.cms">Watch out Uber. Sachin Bansal gets Ola share after selling Flipkart</a> <a href="https://www.businessinsider.in/for-indian-startups-2018-has-been-a-year-of-bouncing-back-as-venture-capital-funding-doubles/articleshow/67286540.cms">For Indian startups, 2018 has been a year of bouncing back as venture capital funding doubles</a>

Large ticket deals drive rise in private equity investments in India this year

<ul><li>PE funds are now increasingly investing in <keyword id="114245" type="PERSON" weightage="20" keywordseo="buyouts">buyouts</keyword>, cutting bigger cheques and snapping up larger stakes in target companies.</li><li>In August, $1.6 billion worth of PE transactions took place across 50 deals with buyout deals doubling in value compared to August 2017. </li><li>The share of buyouts - which are typically marked by a controlling stake of more than 50% in a company - has steadily been rising.</li></ul>For years, the story of private equity (PE) investing in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> has been dominated by funding for early-stage <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> and <keyword id="163960" type="COMPANY" weightage="20" keywordseo="Growth-Capital">growth capital</keyword>. PE funds are now increasingly investing in buyouts, cutting bigger cheques and snapping up larger stakes in target companies. The share of buyouts - which are typically marked by a controlling stake of more than 50% in a company - has steadily been rising to reach $5.5 billion so far in 2018, which is more than double the amount seen last year and the highest in five years, Mint <a href="https://www.livemint.com/Industry/inMMRxN0yk5Yzb6QaLsKwM/PEled-buyout-deals-hit-a-record-55-billion.html">reported </a>citing data from Venture Intelligence. In August, $1.6 billion worth of PE transactions took place across 50 deals with buyout deals doubling in value compared to August 2017, according to an EY <a href="https://www.parthenon.ey.com/in/en/newsroom/news-releases/ey-pe-buyouts-lead-investments-in-august-2018">report. </a> KKR’s $530 million buyout of 60% stake in waste management company Ramky Enviro Engineers Ltd was the largest deal in August 2018. Other large buyout deals in 2018 include Kedaara Capital and Partners Group’s acquisition of Vishal Mega Mart for $734 million, and GIC and Abu Dhabi Investment Council’s $450 million in renewable energy company Greenko Energy Holdings. “The Indian PE industry appears to have come of age, with PE backed platforms attracting marquee <keyword id="89429" type="COMPANY" weightage="20" keywordseo="Global-investors">global investors</keyword> like Berkshire Hathaway, which recently announced an investment of ~$300-US$400 million in Paytm,” Vivek Soni, Partner and National Leader Private Equity Services, EY, said in the EY report. Key drivers PE funds have had a good year in terms of fund-raising, increasing their ability to plough in more money in investments. As of the end of August, PE funds had over $40 billion in capital marked for India investments, according to the EY report. Given the tough market to raise loans via traditional banks, many Indian companies are also increasingly turning towards <keyword id="108089" type="PERSON" weightage="20" keywordseo="Private-equity-firms">private equity firms</keyword> for alternative sources of capital and have been willing to forgo stakes in part due to the operational expertise these firms promise in running business in similar sectors. In addition to available capital, PE firms also begun filling in the funding gap for many power and <keyword id="17408" type="DOMAIN" weightage="20" keywordseo="infrastructure">infrastructure</keyword> companies that require large investments, or companies looking to divest ‘non-core’ divisions to shore up capital as they look to grow or turn around.

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Large ticket deals drive rise in private equity investments in India this year

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