Latest news with #IFC
Hans India
21 hours ago
- Politics
- Hans India
Indian Navy ships conclude Singapore visit, enhance maritime ties
Singapore: The four Indian Navy warships — INS Delhi, INS Satpura, INS Shakti, and INS Kiltan — under the command of Rear Admiral Susheel Menon wrapped up a successful port call to Singapore on Saturday which included professional interactions with the Republic of Singapore Navy (RSN), discussions with the academia and multiple community outreach programmes. "As the Indian Naval Ships Delhi, Satpura Shakti and Kiltan led by RAdm Susheel Menon, VSM FOCEF conclude a highly successful Port Call at Singapore (July 16-19), covering professional exchanges with the RSN, interactions with the Academia and several community outreach activities, High Commission of India in Singapore wishes the Indian Navy contingent the very best for the deployment ahead," the Indian High Commission in Singapore posted on X. The Indian delegation on Friday visited the Information Fusion Centre (IFC) in Singapore and engaged in discussions on real-time information sharing, collaborative maritime surveillance and multilateral coordination efforts undertaken at IFC to enhance collective maritime security and domain awareness across the Indo-Pacific. In a major boost to India-Singapore maritime cooperation, four Indian Navy warships had arrived in Singapore on July 16 as part of the Eastern Fleet's operational deployment to South East Asia. The port call was a part of a wider effort to enhance maritime partnerships in the Indo-Pacific and reaffirm India's strategic commitment to the ASEAN region. Indian Navy and RSN share robust operational relations spanning over three decades of cooperation, coordination and collaboration with regular visits, exchange of best practices and reciprocal training arrangements. The visit underscored the strategic alignment between the two countries, particularly in upholding freedom of navigation and a rules-based order in maritime zones. The deployment of the Eastern Fleet ships to Southeast Asia reflects India's 'Act East' policy in action, promoting security, stability, and dialogue across the Indo-Pacific. Earlier this week, External Affairs Minister (EAM) S. Jaishankar concluded a high-level official visit to Singapore, during which he held talks with the top leadership of the country on regional security, trade, and technological cooperation. Jaishankar described the India-Singapore relationship as 'a model partnership,' rooted in mutual trust and shared Indo-Pacific interests. India and Singapore enjoy over three decades of robust naval cooperation, marked by joint exercises, reciprocal training programmes, and regular port calls. With growing convergence in areas such as defence, cyber security, digital economy, and supply chain resilience, India and Singapore are poised to deepen their comprehensive strategic partnership. As global geopolitics shifts, the synergy between India and Singapore continues to evolve as a cornerstone of regional peace and multilateral cooperation.
News18
2 days ago
- Automotive
- News18
IFC commits USD 20 mn equity investment in Transvolt Mobility
New Delhi, Jul 18 (PTI) IFC, a member of the World Bank Group, on Friday said it is providing USD 20 million (about Rs 170 crore) equity investment to Transvolt Mobility Pvt Ltd to scale up electric vehicles (EVs) production. IFC's USD 20 million investment to Transvolt is a part of the company's USD 50 million financing round, the World Bank arm that provides funds for private sector development in emerging markets said in a statement. 'This is IFC's first equity investment in an EV platform in India and globally. It will enable Transvolt to scale its electric fleet portfolio to 3,500 vehicles and create 8,200 jobs in the next five years. It will also support the company's long-term goal of deploying 8,000 heavy commercial EVs such as buses and trucks across India," it said. 'Transvolt has been a key partner of IFC, and through our collaboration, we aim to enhance market competitiveness in the sector by enabling the electrification of public and private fleets operated by municipalities and corporations, demonstrating the commercial viability of electric fleets, and expanding access to quality urban transport," IFC's Regional Industry Director (Infrastructure & Natural Resources) Asia-Pacific Vikram Kumar said. With IFC's support, the company aims to accelerate the transition to sustainable transport and build inclusive solutions that are aligned with national and global sustainability goals, Transvolt Mobility director and co-founder Dheeraj Jhawar said. This transition presents an opportunity to invest in scalable EV solutions across public and private fleets and mobilise an estimated USD 200 billion to meet the country's targets, it said. With 500 heavy commercial EVs already deployed since its inception in FY23, Transvolt has established a strong presence across various business segments like municipal corporations, corporate employee transportation, and haulage for leading cement manufacturers. PTI DP TRB view comments First Published: July 18, 2025, 11:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
2 days ago
- Automotive
- Time of India
IFC makes first ever equity investment in EV fleet platform
International Finance Corporation ( IFC ) will provide $20 million equity investment in Transvolt Mobility, marking its first such move in an electric vehicle (EV) fleet platform. This is part of IFCs $50 million financing round. Explore courses from Top Institutes in Select a Course Category PGDM MBA Artificial Intelligence Leadership Data Science healthcare Data Science Healthcare Degree Finance CXO Product Management Public Policy Digital Marketing Project Management Design Thinking Operations Management Others Technology Management Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details According to IFC, the investment will enable Transvolt to scale its electric fleet portfolio to 3,500 vehicles and create 8,200 jobs in the next five years. It will also support the company's long-term goal of deploying 8,000 heavy commercial EVs such as buses and trucks across India. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Imad N Fakhoury, IFC's Regional Director for South Asia said accelerating urban mobility and last-mile connectivity is critical to India's development goals. 'As IFC's first-ever equity investment in an EV platform, in the country and globally, it reinforces our commitment to India's EV roadmap, supports the country's transition goals, enables job creation, while contributing to long-term economic growth,' he said. IFC said Transvolt has 500 heavy commercial EVs deployed since its inception in FY 2023. The company has presence across municipal corporations, corporate employee transportation, and haulage for cement manufacturers. Live Events India's ambitious push toward clean mobility aims to electrify 800,000 buses, replace 10 percent of diesel trucks with 400,000 electric trucks, and achieve 18 percent electrification of small commercial vehicles (SCVs) by deploying 111,000 e-SCVs. According to IFC, this transition presents an opportunity to invest in scalable EV solutions across public and private fleets and mobilize an estimated $200 billion to meet the country's targets.
Time of India
2 days ago
- Business
- Time of India
IFC-led investor group in talks to pick up 30% stake in ReNew's C&I unit
An investor group led by the International Finance Corporation (IFC) is looking to buy a 30 per cent stake in ReNew Power 's commercial and industrial (C&I) power generation unit, according to people briefed on the matter. IFC, an arm of the World Bank Group, could plough about $250 million into the unit along with a co-investor, they said. The proposed investment could peg the equity value of the unit, which supplies renewable power to customers such as Amazon and Microsoft, at $800 million, they added. Several commercial users are turning to renewable energy suppliers to lower their fuel bills and meet decarbonisation goals. The proposed investment aligns with IFC's priorities of backing businesses with positive social or environmental impact. However, the deal could face delays as ReNew's management prioritises delisting the company's parent ReNew Energy Global Plc from Nasdaq, according to multiple sources. Till then all other strategic transactions are on hold, they said. ReNew founder Sumant Sinha along with Masdar, Canada Pension Plan Investment Board and Platinum Hawk have announced an offer to take the US-listed parent private. Company has mobilised $680 million over 3 years IFC and ReNew Power did not respond to ET's queries on the matter. Gurugram-based ReNew's C&I unit has set up 2 gigawatts (GW) of electricity generation capacity for commercial users. The contracts are structured in a way that typically requires the user to make an investment in a captive power unit that generates electricity exclusively for the entity. As of March 31, the company's overall portfolio consisted of 17.3 GW of wind and solar power projects. This compares with 13.5 GW as of March 31, 2024. The C&I portfolio is a sub-component of its total power generation capacity . The company has mobilised capital worth $680 million through the sale of assets, divestment of minority stakes and forming joint ventures over the last 36 months. Some of its recent deals include the sale of a 51 per cent stake in Karnataka-based Koppal Narendra Transmission Ltd together with a 300 MW solar project in Rajasthan to KKR-sponsored IndiGrid for ₹2,100 crore. It also sold a portfolio of rooftop solar projects of 138 MW capacity to TPG Capital-backed Fourth Partner Energy for ₹672 crore. "Going forward, the group is expected to mobilise capital through complete asset sale and selling minority stake to strategic partners in various assets and some of the other key projects like module manufacturing, C&I sub-holdco among others," said a recent CARE Ratings report. ReNew posted a total income of ₹10,907 crore ($ 1.27 billion) in FY25. The company website says it's among the top seven renewable power producers globally. It posted a net profit of ₹459 crore in FY25.
Time of India
3 days ago
- Business
- Time of India
IFC may plug $250M into ReNew's C&I arm, valuing it at $800 million
New Delhi | Mumbai: An investor group led by the International Finance Corporation (IFC) is looking to buy a 30% stake in ReNew Power 's commercial and industrial (C&I) power generation unit, according to people briefed on the matter. IFC, an arm of the World Bank Group, could plough about $250 million into the unit along with a co-investor, they said. The proposed investment could peg the equity value of the unit, which supplies renewable power to customers such as Amazon and Microsoft, at $800 million, they added. Explore courses from Top Institutes in Select a Course Category Product Management Operations Management Technology Design Thinking Leadership MCA healthcare Management Project Management CXO PGDM others Finance Data Analytics Public Policy MBA Others Data Science Cybersecurity Digital Marketing Healthcare Data Science Artificial Intelligence Degree Skills you'll gain: Creating Effective Product Roadmap User Research & Translating it to Product Design Key Metrics via Product Analytics Hand-On Projects Using Cutting Edge Tools Duration: 12 Weeks Indian School of Business ISB Product Management Starts on May 14, 2024 Get Details Skills you'll gain: Product Strategy & Competitive Advantage Tactics Product Development Processes & Market Orientations Product Analytics & Data-Driven Decision Making Agile Development, Design Thinking, & Product Leadership Duration: 40 Weeks IIM Kozhikode Professional Certificate in Product Management Starts on Jun 26, 2024 Get Details Skills you'll gain: Product Strategy & Roadmapping User-Centric Product Design Agile Product Development Market Analysis & Product Launch Duration: 24 Weeks Indian School of Business Professional Certificate in Product Management Starts on Jun 26, 2024 Get Details Several commercial users are turning to renewable energy suppliers to lower their fuel bills and meet decarbonisation goals. The proposed investment aligns with IFC's priorities of backing businesses with positive social or environmental impact. However, the deal could face delays as ReNew's management prioritises delisting the company's parent ReNew Energy Global Plc from Nasdaq, according to multiple sources. Till then all other strategic transactions are on hold, they said. ReNew founder Sumant Sinha along with Masdar , Canada Pension Plan Investment Board and Platinum Hawk have announced an offer to take the US-listed parent private. $680 Million raised over last 36 months ReNew's founder Sumant Sinha along with Masdar, Canada Pension Plan Investment Board and Platinum Hawk have announced an offer to take the US-listed parent private and buy out all public shareholders. IFC and ReNew Power did not respond to ET's queries on the matter. Gurugram-based ReNew's C&I unit has set up 2 gigawatts (GW) of electricity generation capacity for commercial users. The contracts are structured in a way that typically requires the user to make an investment in a captive power unit that generates electricity exclusively for the entity. As of March 31, the company's overall portfolio consisted of 17.3 GW of wind and solar power projects. This compares with 13.5 GW as of March 31, 2024. The C&I portfolio is a sub-component of its total power generation capacity . The company has mobilised capital worth $680 million through the sale of assets, divestment of minority stakes and forming joint ventures over the last 36 months. Some of its recent deals include the sale of a 51% stake in Karnataka-based Koppal Narendra Transmission Ltd together with a 300 MW solar project in Rajasthan to KKR-sponsored IndiGrid for Rs 2,100 crore. It also sold a portfolio of rooftop solar projects of 138 MW capacity to TPG Capital-backed Fourth Partner Energy for Rs 672 crore. 'Going forward, the group is expected to mobilise capital through complete asset sale and selling minority stake to strategic partners in various assets and some of the other key projects like module manufacturing, C&I sub-holdco among others,' said a recent CARE Ratings report. ReNew posted a total income of Rs 10,907 crore ($ 1.27 billion) in FY25. The company website says it's among the top seven renewable power producers globally. It posted a net profit of Rs 459 crore in FY25.
