Category: All News

North Star Renewable Energy has appointed Shivanand Nimbargi as its Managing Director and Chief Executive Officer, with the mandate to lead the company’s renewable energy platform and project development activities in India.

Nimbargi brings more than three decades of experience across the energy, transport and infrastructure sectors. Prior to joining North Star, he served as Managing Director and CEO of Ayana Renewable Power, a renewable energy platform established by British International Investment (BII) in 2018.

North Star was established in 2026 as a joint venture between BII and Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II, to invest in and develop renewable energy opportunities in India. The platform combines BII’s long-term investment experience in emerging markets with CIP’s expertise in renewable energy infrastructure.

The company plans to develop projects across solar, wind, hybrid renewable energy and energy storage. Its portfolio is expected to generate more than 4 million MWh of clean electricity annually and avoid around 4 million tonnes of carbon emissions each year.

North Star is also a key platform within British Climate Partners (BCP), BII’s £1.1 billion climate finance initiative focused on supporting decarbonisation in coal-dependent economies, including India, through increased mobilisation of private capital.

Commenting on his appointment, Nimbargi said he was joining North Star at an important stage in India’s energy transition and highlighted the role of long-term capital and partnerships in building sustainable energy platforms.

The appointment comes as North Star works to establish and scale its renewable energy platform in India, with a focus on developing projects and attracting investment across the country’s growing clean energy sector.

North Star Renewable Energy has appointed Shivanand Nimbargi as its Managing Director and Chief Executive Officer, with the mandate to lead the company’s renewable energy platform and project development activities in India.

Nimbargi brings more than three decades of experience across the energy, transport and infrastructure sectors. Prior to joining North Star, he served as Managing Director and CEO of Ayana Renewable Power, a renewable energy platform established by British International Investment (BII) in 2018.

North Star was established in 2026 as a joint venture between BII and Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II, to invest in and develop renewable energy opportunities in India. The platform combines BII’s long-term investment experience in emerging markets with CIP’s expertise in renewable energy infrastructure.

The company plans to develop projects across solar, wind, hybrid renewable energy and energy storage. Its portfolio is expected to generate more than 4 million MWh of clean electricity annually and avoid around 4 million tonnes of carbon emissions each year.

North Star is also a key platform within British Climate Partners (BCP), BII’s £1.1 billion climate finance initiative focused on supporting decarbonisation in coal-dependent economies, including India, through increased mobilisation of private capital.

Commenting on his appointment, Nimbargi said he was joining North Star at an important stage in India’s energy transition and highlighted the role of long-term capital and partnerships in building sustainable energy platforms.

The appointment comes as North Star works to establish and scale its renewable energy platform in India, with a focus on developing projects and attracting investment across the country’s growing clean energy sector.

Exide Industries’ material subsidiary, Exide Energy Solutions Limited (EESL), has commissioned Phase-I of its lithium-ion cell manufacturing facility at Devanahalli, Bengaluru, Karnataka.

The first phase of the facility has a manufacturing capacity of 6 GWh and was commissioned on September 23, 2026. The development marks a significant step in EESL’s expansion into advanced lithium-ion cell manufacturing.

The facility has been designed to manufacture advanced lithium-ion cells across multiple chemistries and form factors. These capabilities will enable EESL to cater to applications across electric mobility and energy storage.

Exide Energy Solutions plans to use the domestically manufactured cells to support the growing requirements of electric vehicle and stationary energy storage applications. The company has previously indicated that the overall lithium-ion cell manufacturing project is planned to scale to 12 GWh across two phases.

The initial production is expected to include lithium iron phosphate (LFP) cells for battery-pack applications, while the company is also developing capabilities for nickel manganese cobalt (NMC) cells. EESL’s existing battery module and pack facility in Gujarat provides an established base for its lithium-ion business.

The commissioning strengthens Exide Industries’ capabilities beyond its traditional lead-acid battery business and supports its plans to participate in India’s expanding electric mobility and energy storage markets.

With the first 6 GWh phase now commissioned, EESL is positioned to progress from facility commissioning towards production ramp-up and customer applications across the mobility and energy storage segments.

Exide Industries’ material subsidiary, Exide Energy Solutions Limited (EESL), has commissioned Phase-I of its lithium-ion cell manufacturing facility at Devanahalli, Bengaluru, Karnataka.

The first phase of the facility has a manufacturing capacity of 6 GWh and was commissioned on September 23, 2026. The development marks a significant step in EESL’s expansion into advanced lithium-ion cell manufacturing.

The facility has been designed to manufacture advanced lithium-ion cells across multiple chemistries and form factors. These capabilities will enable EESL to cater to applications across electric mobility and energy storage.

Exide Energy Solutions plans to use the domestically manufactured cells to support the growing requirements of electric vehicle and stationary energy storage applications. The company has previously indicated that the overall lithium-ion cell manufacturing project is planned to scale to 12 GWh across two phases.

The initial production is expected to include lithium iron phosphate (LFP) cells for battery-pack applications, while the company is also developing capabilities for nickel manganese cobalt (NMC) cells. EESL’s existing battery module and pack facility in Gujarat provides an established base for its lithium-ion business.

The commissioning strengthens Exide Industries’ capabilities beyond its traditional lead-acid battery business and supports its plans to participate in India’s expanding electric mobility and energy storage markets.

With the first 6 GWh phase now commissioned, EESL is positioned to progress from facility commissioning towards production ramp-up and customer applications across the mobility and energy storage segments.

Exide Industries’ material subsidiary, Exide Energy Solutions Limited (EESL), has commissioned Phase-I of its lithium-ion cell manufacturing facility at Devanahalli, Bengaluru, Karnataka.

The first phase of the facility has a manufacturing capacity of 6 GWh and was commissioned on September 23, 2026. The development marks a significant step in EESL’s expansion into advanced lithium-ion cell manufacturing.

The facility has been designed to manufacture advanced lithium-ion cells across multiple chemistries and form factors. These capabilities will enable EESL to cater to applications across electric mobility and energy storage.

Exide Energy Solutions plans to use the domestically manufactured cells to support the growing requirements of electric vehicle and stationary energy storage applications. The company has previously indicated that the overall lithium-ion cell manufacturing project is planned to scale to 12 GWh across two phases.

The initial production is expected to include lithium iron phosphate (LFP) cells for battery-pack applications, while the company is also developing capabilities for nickel manganese cobalt (NMC) cells. EESL’s existing battery module and pack facility in Gujarat provides an established base for its lithium-ion business.

The commissioning strengthens Exide Industries’ capabilities beyond its traditional lead-acid battery business and supports its plans to participate in India’s expanding electric mobility and energy storage markets.

With the first 6 GWh phase now commissioned, EESL is positioned to progress from facility commissioning towards production ramp-up and customer applications across the mobility and energy storage segments.

Exide Industries’ material subsidiary, Exide Energy Solutions Limited (EESL), has commissioned Phase-I of its lithium-ion cell manufacturing facility at Devanahalli, Bengaluru, Karnataka.

The first phase of the facility has a manufacturing capacity of 6 GWh and was commissioned on September 23, 2026. The development marks a significant step in EESL’s expansion into advanced lithium-ion cell manufacturing.

The facility has been designed to manufacture advanced lithium-ion cells across multiple chemistries and form factors. These capabilities will enable EESL to cater to applications across electric mobility and energy storage.

Exide Energy Solutions plans to use the domestically manufactured cells to support the growing requirements of electric vehicle and stationary energy storage applications. The company has previously indicated that the overall lithium-ion cell manufacturing project is planned to scale to 12 GWh across two phases.

The initial production is expected to include lithium iron phosphate (LFP) cells for battery-pack applications, while the company is also developing capabilities for nickel manganese cobalt (NMC) cells. EESL’s existing battery module and pack facility in Gujarat provides an established base for its lithium-ion business.

The commissioning strengthens Exide Industries’ capabilities beyond its traditional lead-acid battery business and supports its plans to participate in India’s expanding electric mobility and energy storage markets.

With the first 6 GWh phase now commissioned, EESL is positioned to progress from facility commissioning towards production ramp-up and customer applications across the mobility and energy storage segments.

Exide Industries’ material subsidiary, Exide Energy Solutions Limited (EESL), has commissioned Phase-I of its lithium-ion cell manufacturing facility at Devanahalli, Bengaluru, Karnataka.

The first phase of the facility has a manufacturing capacity of 6 GWh and was commissioned on September 23, 2026. The development marks a significant step in EESL’s expansion into advanced lithium-ion cell manufacturing.

The facility has been designed to manufacture advanced lithium-ion cells across multiple chemistries and form factors. These capabilities will enable EESL to cater to applications across electric mobility and energy storage.

Exide Energy Solutions plans to use the domestically manufactured cells to support the growing requirements of electric vehicle and stationary energy storage applications. The company has previously indicated that the overall lithium-ion cell manufacturing project is planned to scale to 12 GWh across two phases.

The initial production is expected to include lithium iron phosphate (LFP) cells for battery-pack applications, while the company is also developing capabilities for nickel manganese cobalt (NMC) cells. EESL’s existing battery module and pack facility in Gujarat provides an established base for its lithium-ion business.

The commissioning strengthens Exide Industries’ capabilities beyond its traditional lead-acid battery business and supports its plans to participate in India’s expanding electric mobility and energy storage markets.

With the first 6 GWh phase now commissioned, EESL is positioned to progress from facility commissioning towards production ramp-up and customer applications across the mobility and energy storage segments.

Mufin Green Finance Limited has received final listing approval for its USD 6 million senior notes on the Global Securities Market of India International Exchange (India INX) at GIFT City, Gujarat. The securities commenced trading on the exchange on September 22, 2026.

The listed debt securities comprise USD-denominated senior non-convertible bonds carrying a coupon of 4.50% plus SOFR. The notes are scheduled to mature on September 11, 2029. The issuance was allotted on September 11, 2026, following which the company obtained final listing approval from India INX.

The bonds have been assigned a B/Stable credit rating by CareEdge and have a minimum denomination of 10 bonds. The securities are listed under the Global Securities Market segment of India INX.

India INX issued a circular dated September 21, 2026, confirming the listing of Mufin Green Finance’s USD 6 million, 4.50% senior notes due 2029. The exchange subsequently admitted the securities for trading with effect from September 22.

The listing adds to Mufin Green Finance’s debt-market activity as the company continues to operate as a financing platform focused on areas including electric vehicles and clean energy. The company had also reported an assets under management of ₹1,541.17 crore for FY2026, with its financing portfolio covering electric vehicles and solar products, among other segments.

The transaction also highlights the role of GIFT City and India INX as a platform for international-currency debt securities. India INX’s current listing data includes Mufin Green Finance among issuers on its Global Securities Market.