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India's new wind turbine norms mandate local sourcing, data control
(Reuters) -India has introduced stringent norms for wind turbine equipment makers, requiring them to source key components domestically and comply with strict data localisation rules. Manufacturers must now buy components like blades, towers, generators, gearboxes, and special bearings from vendors approved under a new government list, the Ministry of New and Renewable Energy (MNRE) said in a notification late on Thursday. A technical team constituted by MNRE will carry out inspections, and a separate standard operating procedure will be issued. The approved list of models and manufacturers will be issued by the ministry separately, the notification said. The directive also mandates that all wind turbine data be stored within India, prohibits real-time operational data transfers abroad, and requires operational control and research and development centres to be located in India within one year. The move aims at promoting domestic wind turbine manufacturing industry in the country, which is now at 20 GW in annual manufacturing capacity, as per government data. India aims for 500 GW of non-fossil fuel capacity - including hydro and nuclear - by 2030, nearly double the current 235.6 GW. Exemptions apply to certain bid-out and near-term projects, while new models under exemption are capped at 800 MW over two years and must submit quarterly progress reports, the notification said. The move is likely to benefit domestic wind equipment makers like Suzlon Energy, Inox Wind and Adani Wind, and will likely be a setback for China's Envision Group, which has gained a stronghold in the Indian market. Sign in to access your portfolio
Yahoo
3 hours ago
- Yahoo
Synex Renewable Energy Corporation Announces Regulatory Approvals
Vancouver, British Columbia--(Newsfile Corp. - July 31, 2025) - Synex Renewable Energy Corporation (TSX: SXI) ("Synex" or the "Company") announced today that the British Columbia Utilities Commission, the Province of British Columbia, and the British Columbia Hydro and Power Authority have each provided the respective requisite approval in connection with the previously announced statutory plan of arrangement pursuant to the Business Corporations Act (British Columbia) (the "Arrangement"), whereby Sitka Power Inc. will acquire all of the issued and outstanding common shares of the Company ("Common Shares") for C$2.40 in cash per Common Share (the "Cash Consideration"). With all required shareholder, court and regulatory approvals having now been obtained, the Arrangement is expected to be completed on or about August 1, 2025, although the Arrangement remains subject to customary closing conditions that cannot be satisfied until completion. Further details regarding the Arrangement, including the regulatory approvals, closing conditions and the benefits for the shareholders of the Company, can be found in the Company's management proxy circular dated April 24, 2025, in respect of the Meeting, which can be found under the Company's SEDAR+ profile at About Synex Renewable Energy Corporation Synex is a Vancouver, British Columbia based company engaged in the development, acquisition, ownership, and operation of renewable energy projects in Canada. It has ownership interests in 11 MW of operating hydro projects in British Columbia and owns a Vancouver Island grid connection and utility carrying on business as Kyuquot Power Ltd. The Company also has 9.4 MW of construction ready run-of-river projects, applications, and land tenures on another 24 potential hydroelectric sites totaling over 150 MW of capacity, and approximately 16 wind development sites that could provide up to 4,700 MW of clean power in British Columbia. For further information, visit About Sitka Power Inc. Sitka is a small scale Canadian renewable energy developer and independent power producer, headquartered in Calgary, Alberta, who is active in British Columbia, Alberta, Saskatchewan, and Ontario. For further information, visit Forward-Looking Statements This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Such forward-looking information or statements ("FLS") are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such FLS may be identified by words such as "proposed", "expects", "intends", "may", "will", and similar expressions. FLS contained or referred to in this press release includes, but is not limited to, the proposed timing and various steps contemplated in respect of the Arrangement, the results of the completion of the Arrangement, the likelihood that the Arrangement will be consummated, payment of the Cash Consideration and the delisting of the Common Shares. FLS is based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although the Company believes that the expectations reflected in such FLS is reasonable, undue reliance should not be placed on FLS because the Company can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such FLS include, without limitation, the following factors, many of which are beyond the Company's control and the effects of which can be difficult to predict: (a) the possibility that the Arrangement will not be completed on the terms and conditions, or on the timing, currently contemplated, and that it may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, conditions of closing necessary to complete the Arrangement or for other reasons; (b) the possibility of adverse reactions or changes in business relationships resulting from the completion of the Arrangement; (c) risks relating to the abilities of the parties to satisfy conditions precedent to the Arrangement; (d) credit, market, currency, operational, liquidity and funding risks generally and relating specifically to the Arrangement, including changes in economic conditions, interest rates or tax rates; (e) changes and trends in the Company's industry and the global economy; and (f) the identified risk factors included in the Company's public disclosure, including the annual information form dated September 27, 2024, which is available under the Company's profile on SEDAR+ at If any of these risks or uncertainties materialize, or if the assumptions underlying the FLS prove incorrect, actual results or future events might vary materially from those anticipated in the FLS. Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in FLS, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such FLS. The FLS in this press release reflect the current expectations, assumptions, judgements and/or beliefs of the Company based on information currently available to the Company, and are subject to change without notice. Any FLS speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any FLS, whether as a result of new information, future events or results or otherwise, except as required under applicable securities laws. The FLS contained in this press release are expressly qualified by this cautionary statement. For more information on the Company, please review the Company's continuous disclosure filings that are available under the Company's profile at No securities regulatory authority has either approved or disapproved of the contents of this news release. The TSX accepts no responsibility for the adequacy or accuracy of this release. For more information, please contact: Daniel J. RussellPresident & CEO, Synex Renewable Energy Corporation 4248 Broughton Ave., Niagara Falls, Ontario L2E 0A4 Phone (905) 329-5000 Sitka Power Inc. Trevor WhitePresident & CEO, Sitka Power Inc.639 5 Ave SW #1050, Calgary, Alberta T2P 0M9 Phone (403) 999-8781twhite@ To view the source version of this press release, please visit Se produjo un error al recuperar la información Inicia sesión para acceder a tu portafolio Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información
Yahoo
8 hours ago
- Yahoo
First Solar raises annual sales outlook, expects higher prices due to tariffs
(Reuters) -First Solar raised its annual sales forecast on Thursday, as the U.S. solar panel maker expects higher prices for its products following additional tariffs on foreign-made panels. Shares of the Tempe, Arizona-based company rose over 4% after the bell. The solar industry, which has grappled with lackluster demand and high interest rates, is now bracing for the impact of U.S. President Donald Trump's policies related to renewable energy as well as his plans to impose tariffs on most imports. While Trump's sweeping tax and spending bill - dubbed the "One Big, Beautiful Bill Act" (OBBBA) - aims to phase out solar and wind tax credits by 2028, the U.S. tariffs are expected to improve the outlook for solar companies. "In our view, the recent policy and trade developments have, on balance, strengthened First Solar's relative position in the solar manufacturing industry," CEO Mark Widmar said. Earlier this month, U.S. solar panel makers, including First Solar, asked the U.S. Commerce Department to impose tariffs on imports from Indonesia, India and Laos, as they sought to protect their recent investments and better compete with Chinese rivals. The industry is also expected to benefit from rising demand for power as corporations and governments increasingly adopt cleaner sources of power to combat climate change. First Solar now expects current-year net sales to be between $4.9 billion and $5.7 billion, compared with its previous projection of $4.5 billion and $5.5 billion. Analysts, on average, estimated the company's 2025 net sales at $5.07 billion, according to data compiled by LSEG. Sign in to access your portfolio
