Internet of Things is increasingly gaining ground with advances in technology of internet, data and communication. This has spurred a lot of innovative business practices and applications across sectors, especially in Industrial automation, healthcare, transportation & logistics, energy. One such industry where IoT will play a significant role in coming years is Solar. India is a signatory of Paris climate accord and committed to reduce carbon emissions. It had set an ambitious target of achieving over 50% of power production from renewable sources by 2027.
NEW DELHI – SoftBank Group Corp. is mulling a manufacturing joint venture in India that could produce the solar panels needed to meet Prime Minister Narendra Modi's energy targets. "SoftBank's strategy for India includes solar panel manufacturing," Manoj Kohli, executive chairman of SB Energy said in an interview in New Delhi. He ruled out making the panels through the company's existing joint venture, formed last year with Foxconn Technology Group and Bharti Enterprises Pvt. to generate about 20 gigawatts of solar power. While Modi seeks 100 GW of solar capacity by 2022 -- a target second only to China -- the country's manufacturers will need to ramp-up production in order to tap into the growth. Only about 40 percent of India's 1.2 GW of annual solar-cell manufacturing capacity is operational, according to estimates by Bridge to India.
FILE - This Wednesday, March 16, 2011, file photo, shows NRG Energy's W.A. Parish Electric Generating Station in Thompsons, Texas. NRG Energy, the money-losing Northeast electric utility, will attempt to raise up to $4 billion through asset sales in a bid to lower debt by $13 billion. The power company, based in Princeton, N.J., said Wednesday, July 12, 2017, that the sale could include the entirety of NRG Yield, its renewable energy business.
Tesla Motors Inc. TSLA -0.00 % disclosed in a regulatory filing Monday that its proposed merger with SolarCity Corp. SCTY -1.66 % could be delayed by shareholder lawsuits, adding to the volatility for cash-strapped SolarCity, which is selling assets and cutting costs as it seeks to survive until the deal can close. The lawsuits, filed by two individuals and two pension funds earlier this month, claim that the members of the Tesla board breached their fiduciary duties in connection with the proposed merger, and that certain insiders would be unjustly enriched by the companies' combination, according to a regulatory document Tesla filed Monday. SolarCity is chaired by Elon Musk, Tesla's chief executive, who owns about 20% of the shares in both companies. It was unclear whether the lawsuits might delay Tesla's planned shareholder vote on the merger, which the company had earlier said it planned to schedule this week. The plaintiffs are the City of Riviera Beach Police Pension Fund, the Arkansas Teacher Retirement System, Ellen Prasinos and P. Evan Stephens.