Cygni Energy raises $6.4 Mn to power growth & expansion

Hyderabad-based Cygni Energy Pvt. Ltd., an innovative Solar-DC solutions start-up, has announced that it has raised funds of $6.4-mn through a combination of equity and debt. The equity funding is led by Endiya Partners, a leading early stage venture capital firm that invests in product start-ups, and the debt by IndusInd Bank. The funds will help the start-up in expanding capacity, strengthening

R&D capabilities and increasing market reach.

Cygni, the first company to be recognised under the Start-up programme, manufactures solar controllers and had raised an initial funding in 2014. The start-up has received a grant from Millennium Alliance (FICCI  READ MORE.....

Cosmos Solutions Pvt. Ltd.’s patented new technology to generate more power from engines using micro controllers received a major green signal with a private equity of US$950-million from Linetrust Offshore Ltd. The Head of private equity of Linetrust ASEAN, Dr. Sailesh Lachu Hiranandani, who has spared no effort in promoting the development of renewable energy, assured Cosmos  READ MORE.....

Black & Veatch has been selected to provide engineering expertise to IL&FS Energy Development Company Limited’s (IEDCL) 41 megawatt (MW) solar photovoltaic (PV), wind, and battery storage hybrid project in India. Core components of the project are 25 MW solar PV and 16 MW wind power generation systems, coupled to an optimised energy storage system.

Technical services for the READ MORE.....

GoI imposes a 25 per cent ‘safeguard duty’ on imported solar panels from China, Malaysia, despite a temporary stay issued by the Orissa High Court against such duty.

The government has levied safeguard duty of 25 per cent on solar imports from China and Malaysia. This move by the Ministry of Finance (Department of Revenue) comes post the final