Latest news with #VikasBansal
Hindustan Times
10-07-2025
- Climate
- Hindustan Times
Gurugram residents bemoan lack of preparedness during monsoon rains
The failure of civic agencies to adequately address the city's drainage issues left Gurugram residents trapped in waterlogged roads for over five hours on Wednesday night, as intense rainfall overwhelmed the already fragile infrastructure. Despite repeated warnings during the monsoon season, the city's drainage system failed to cope with the 133mm of rainfall, including 103mm between 7:30pm and 9pm, leading to widespread traffic congestion and flooding. As the rainfall continued, the India Meteorological Department (IMD) issued an Orange Alert for the city. (HT picture) The hardest-hit areas were the Delhi-Jaipur Highway, Sohna Road, Golf Course Extension Road, and Sheetla Mata Road, with many commuters stranded for hours. One of the most affected routes was the stretch from Cyber City to Sector 37C, where vehicles came to a halt, unable to move due to rising water levels. Hero Honda Chowk, a critical junction, became completely impassable, trapping hundreds of vehicles and causing even more chaos for residents. Vikas Bansal, a resident of Taksila Apartments in Sector 37D, shared his experience, 'After being stuck for over 5.5 hours in waterlogged roads from Cyber City to Sector 37C, with water entering vehicles and Hero Honda Chowk virtually impassable, it's clear that Gurugram urgently needs a reliable drainage system. Every monsoon, the city faces the same chaos — causing business losses, property damage, and even risking lives. In medical emergencies, these roads could become death traps. It's time for authorities to prioritize effective, lasting solutions over temporary fixes,' he said. Also Read: Overnight rains in Gurugram leads to traffic snarls, severe waterlogging Anita Kapoor, a resident of Sector 45, expressed frustration with the city's preparedness. 'It was horrible. My children were crying in the car, and we were stuck for more than four hours. The water levels were rising so quickly, and I was terrified that we wouldn't make it home. My toddler was scared, and there was nothing I could do. This is not how a city should function, especially with the kind of rainfall we get every year.' Residents from Sector 49 Orchid Petals and Central Park also described the nightmarish conditions. Rajiv Mehra, from Sector 49, said, 'We were stuck in traffic for almost 5 hours. The water entered our car, and my young daughter was terrified. We couldn't even turn the engine off because we were afraid the water would seep in completely. I could see other families in distress. It felt like a nightmare. The authorities really need to focus on infrastructure that can handle such downpours.' Neha Arora from Vipul Greens in Sector 48 added, 'It was a nightmare. The roads were flooded, and our car was stuck for hours. The children in the car were crying, and we couldn't do anything but wait. It's heartbreaking to see how little has changed year after year. Why are we still struggling with the same issues every monsoon?' As the rainfall continued, the India Meteorological Department (IMD) issued an Orange Alert for the city, warning of heavy rainfall, thunderstorms, and lightning. The District Disaster Management Authority (DDMA) advised corporate offices and private institutions to have their employees work from home on Thursday, to reduce traffic congestion and ease the strain on the city's infrastructure.
Cision Canada
07-07-2025
- Business
- Cision Canada
GameChange Solar Secures Landmark 1.25 GW Tracker Deal for Abydos II in Egypt
DUBAI, UAE, July 7, 2025 /CNW/ -- GameChange Solar, a leading global supplier of solar tracker and fixed-tilt racking technology, announced that it has signed a contract with CEEC-ZTPC to supply its Genius Tracker™ 1P Single Row system for the Abydos Solar PV Plant - Phase II in Egypt. Developed by AMEA Power and built by CEEC-ZTPC, the project will combine 1 GWac solar photovoltaic (PV) power plant with a 600 MWh battery energy storage system (BESS). With this order, GameChange Solar's cumulative capacity in Egypt stands at nearly 3 GW; establishing the company as one of the largest solar tracker providers in the region. "We're honored to continue our partnership with CEEC-ZTPC and support AMEA Power in delivering another transformative energy project," said Vikas Bansal, President – International, GameChange Solar."Following the successful execution of Abydos I, a 560 MW project that has now reached commercial operation, this significant order reflects the trust we've built through strong collaboration and reliable execution. We're proud to contribute our technology and expertise to a project that's shaping the future of energy in Africa." As one of the largest solar-plus-storage projects in Africa, Abydos-II marks a major milestone in Egypt's push to achieve 42% renewable energy generation by 2030. Commissioning of the project is scheduled for May 2026. Spread across 20 square kilometers in the Aswan Governorate, the mega-plant is expected to generate around 3,000 GWh of electricity annually, enough to power over 500,000 households and reduce carbon dioxide emissions by over 1 million tonnes each year. About GameChange Solar GameChange Solar is one of the top three global providers of solar tracker solutions used in utility-scale and ground-mounted distributed generation solar projects around the world. We have delivered over 43 GW of solar tracker and fixed tilt systems that combine fast installation, bankable quality, and unbeatable value through superior engineering, innovative design, and high-volume manufacturing. Our products enable solar panels at power plants to follow the sun's movement across the sky and optimize plant performance while protecting the array from damaging weather conditions. For more information about GameChange Solar and its solar tracking solutions, visit Lead – Marketing, GameChange Solar
Cision Canada
06-05-2025
- Business
- Cision Canada
GameChange Solar strengthens regional position across MENA and Central Asia with a 3.6 GW portfolio
DUBAI, UAE, May 6, 2025 /CNW/ -- GameChange Solar, a leading global supplier of solar tracker and fixed-tilt racking technology, today announced that it has surpassed 3.6 GW of tracker projects (installed and under deployment) across Middle East & North Africa (MENA) and Central Asia. This portfolio spans key markets including Egypt (3 GW), and Uzbekistan (600 MW), with projects located in challenging environments such as desert terrains, high-wind zones, and remote, logistically complex sites. GameChange Solar's Genius Tracker ™ system, designed for speed, wind resilience, and terrain adaptability, has delivered consistently across these demanding conditions. The company is also actively expanding its presence in the Middle East, with a growing pipeline in Saudi Arabia and the United Arab Emirates – two markets that form a core part of its regional strategy. "Our presence across MENA and Central Asia is shaped by long-term partnerships and a clear understanding of what it takes to deliver infrastructure at scale in this region. Every project comes with its own complexity, but the fundamentals remain the same: reliability, responsiveness, and alignment with our customers' long-term goals. That is what we've built our approach on, and that is what will continue to guide us as we grow," said Vikas Bansal, President – International at GameChange Solar. For more information about GameChange Solar and its solar tracking solutions, visit About GameChange Solar GameChange is the third largest global provider of solar tracker solutions used in utility-scale and ground-mounted distributed generation solar projects around the world. We have delivered over 43 GW of solar tracker and fixed tilt systems that combine fast installation, bankable quality, and unbeatable value through superior engineering, innovative design, and high-volume manufacturing. Our products enable solar panels at power plants to follow the sun's movement across the sky and optimize plant performance while protecting the array from damaging weather conditions. Media Contact [email protected]
Yahoo
25-04-2025
- Business
- Yahoo
Amazon infuses $40m into Indian payments arm
Ecommerce entity Amazon has invested Rs 3.5bn ($40m) into its digital payments arm, Amazon Pay India, through a rights issue, reported The Economic Times. The investment involved the allotment of 35 million equity shares to its parent entities, Amazon Corporate Holdings and The transaction details were disclosed in regulatory filings with the Registrar of Companies (RoC). This capital injection is the latest in a series of investments, following a Rs 3000m ($35.14m) infusion in November 2024 and a Rs 6000m ($70.3m) investment in June 2024, as reported by ET. Amazon Pay holds the eighth position in India's Unified Payments Interface (UPI) transaction volume rankings as of March 2025, according to data from the National Payments Corporation of India (NPCI). Amazon Pay has a market share of about 0.6%, the report said. In February 2024, Amazon Pay secured a payment aggregator (PA) licence from the Reserve Bank of India, following its earlier approval for a prepaid payments instrument (PPI) licence. Amazon Pay India has also engaged in partnerships with entities such as BookMyShow, MakeMyTrip, RedBus, IRCTC, and Kuvera, extending its reach into movie and travel ticketing and wealth management services. For the financial year ending in March 2024, the company reported a 9.22% rise in operating revenue to Rs 22.86bn, up from Rs 20.93bn in the previous year, the news publication added. It further highlighted a reduction of losses by 39%, down to Rs 9.11bn from Rs 14.99bn. Amazon Pay India CEO Vikas Bansal has previously stated to ET the importance of implementing MDR for UPI transactions is crucial for smaller players to receive a fair share of the value they contribute to the payment ecosystem. "Amazon infuses $40m into Indian payments arm " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Time of India
25-04-2025
- Business
- Time of India
Amazon infuses Rs 350 crore into India payments business amid growing competition
US ecommerce giant Amazon has infused Rs 350 crore into Amazon Pay India , as the fintech arm looks to step up its game against leading payment companies such as PhonePe and Google Pay. Amazon Pay India has allotted 3.5 crore equity shares to its parent entities Amazon Corporate Holdings Private Limited and through a rights issue, regulatory filings with the Registrar of Companies (RoC) showed. ET has reached out to Amazon India seeking comments. This investment follows a Rs 300 crore fundraising in November 2024 and a Rs 600 crore infusion in June 2024, reported by ET. The move comes as rival Flipkart's fintech app, is actively seeking fresh funding. On January 13, ET reported that Flipkart is in advanced talks to lead a $35-40 million funding round for which could potentially include external investors for the first time. Data from the National Payments Corporation of India (NPCI) shows that Amazon Pay was the eighth-largest Unified Payments Interface (UPI) player by transaction volume in March 2025, down from the sixth position a year earlier. It currently trails PhonePe, Google Pay, Paytm, Navi, Axis Bank, and Cred. According to the latest available NPCI data, PhonePe and Google Pay dominate the UPI space with a combined market share of nearly 85 per cent, while Amazon Pay holds a market share of approximately 0.6 per cent. In February 2024, Amazon Pay received a payment aggregator (PA) licence from regulator Reserve Bank of India. The licence bolsters Amazon's merchant payments business, providing a major growth opportunity given its strong online shopping presence in India. The PA licence followed the company's earlier approval for a prepaid payments instrument (PPI) or wallet licence. The company competes with other platforms to offer a variety of services, including bill payments, UPI transactions , and insurance premium payments. It has also formed strategic partnerships with companies such as BookMyShow, MakeMyTrip, RedBus, IRCTC, and Kuvera, expanding its services to movie and travel ticketing and wealth management. For the financial year ended March 2024, Amazon Pay India reported a 9.22 per cent increase in operating revenue to Rs 2,286 crore (from Rs 2,093 crore in FY23). The company also reduced its losses by 39 per cent, bringing them down to Rs 911 crore from Rs 1,499 crore the previous year. In a significant development, last month, the Payments Council of India (PCI), an industry body representing digital payments companies, wrote to the Prime Minister's Office (PMO) requesting the reintroduction of a merchant discount rate (MDR) on RuPay debit cards and UPI transactions, but only for large merchants. In a previous conversation with ET, Vikas Bansal, CEO of Amazon Pay India, emphasised that implementing MDR for UPI transactions is crucial for smaller players to receive a fair share of the value they contribute to the payment ecosystem.
