Latest news with #SanjeevAggarwal
Business Recorder
11-06-2025
- Business
- Business Recorder
India set for electricity futures trading as NSE becomes 2nd exchange to get nod
India's National Stock Exchange on Wednesday became the second exchange in a week to secure regulatory approval to launch electricity futures contracts, a move experts say could help struggling power utilities improve their finances. The Multi Commodity Exchange of India (MCX) received a similar approval last week from the Securities and Exchange Board of India (SEBI). A futures contract will allow the purchaser to secure power at a fixed price at a later time. Currently, Indian utilities rely heavily on long-term power purchase agreements (PPAs) spanning up to 25 years for baseload requirements, supplemented with short-term purchases through power exchanges for peak demand. Distribution companies (discoms) in India owed about $9.5 billion in unpaid dues, according to the government, driven by expensive long-term power purchases, subsidised supply, and electricity losses due to poor infrastructure. 'There is clearly an incentive from now on to not lock yourself into a 25-year contract and rather look at shorter terms,' said Ashutosh Padelkar, Senior Associate at Aurora Energy Research. Globally, power derivatives are traded on CME Group, Euronext, the Intercontinental Exchange and European Energy Exchange, among others. 'Discoms will gain the ability to use forward curves to plan procurement more dynamically… This can help optimize costs, avoid overcontracting, and improve demand forecasting,' said Sanjeev Aggarwal, chairman of Hexa Climate Solutions. A forward price curve helps in predicting the expected electricity price in the future. Discoms currently sell solar surplus at low daytime prices, but can now use derivatives to sell at pre-agreed higher rates during that period. They can also buy electricity at lower prices during non-solar hours using the contracts, when spot prices typically surge. Even power producers can hedge by taking opposite positions in the derivative markets using the forward price curve, said Aditya Malpani, a senior director at power producer AMPIN Energy Transition.
Business Standard
27-05-2025
- Business
- Business Standard
Hexa Climate and Asvata Partner for the Launch of Afforestation Project in West Bengal
NewsVoir Gurugram (Haryana)/ Mumbai (Maharashtra) [India], May 27: Hexa Climate, a portfolio company of I Squared Capital, and Asvata, the carbon credit venture of RPG Group, announce the launch of a pioneering afforestation project in Purulia, West Bengal. The project,which aims to transform fallow land into thriving forest ecosystems, involves planting 500,000 trees, with a potential to scale-up to 1.5 million trees. It will be registered under the VERRA VM0047 methodology, supported by advanced satellite monitoring and drone surveillance to ensure transparency, traceability, and high-quality carbon outcomes. The project shall help in improving soil fertility, promoting biodiversity and replenishing ground water. In addition to environmental restoration, it also supports community upliftment by generating employment, encouraging beekeeping and vermi-composting. "Our foray into Nature-Based Solutions is a natural extension of our mission to connect the dots for a better world," said Sanjeev Aggarwal, Founder and Executive Chairman of Hexa Climate. "We are building climate-resilient assets that support businesses in achieving their Net Zero goals with integrity and impact." "We are delighted to partner with Hexa Climate on a project that exemplifies the dual power of climate action. We are excited to collaborate with local farmers, communities and experts to implement best practices in forestry and are committed to creating long-term value for both people and the planet. This is carbon finance with purpose," Navin Mathur, COO, Asvata (RPG Group). Hexa Climate provides Net Zero solutions to corporates across APAC. Backed by I Squared Capital, a global infrastructure investor with over USD 40 billion in AUM, Hexa plans to deploy over USD 500 million in equity across its verticals including renewables, battery storage solutions and carbon offset solutions. In a carbon market increasingly scrutinized for quality and credibility, Hexa Climate is positioning itself as a solutions partner to corporates seeking research-backed, verifiable carbon credits. The company will offer long-term carbon credits under a Pay-on-Delivery model, providing corporates a trustworthy pathway to meet decarbonization targets. Future carbon projects under development include mangroves, biochar, and biodigesters, forming a diversified portfolio of scalable climate solutions. Visit our website | Follow us on LinkedIn Asvata, the carbon credit venture of the RPG Group, is committed to accelerating climate action through high-impact carbon offset solutions. Headquartered in Mumbai, Asvata develops and finances projects that reduce greenhouse gas emissions while advancing sustainable development. Beyond carbon finance, Asvata plays an active role in end-to-end project development and portfolio management. Its core proposition lies in building high-quality carbon offset portfolios that help organizations achieve their sustainability and net-zero goals. Asvata supports climate action that extends beyond emissions reduction - enabling the transformation of communities, livelihoods, and ecosystems. Its diverse portfolio spans Nature-Based Solutions and Engineered Removals, reflecting a balanced and future-ready approach to carbon mitigation.
Fashion Value Chain
27-05-2025
- Business
- Fashion Value Chain
Hexa Climate and Asvata Partner for the Launch of Afforestation Project in West Bengal
Hexa Climate, a portfolio company of I Squared Capital, and Asvata, the carbon credit venture of RPG Group, announce the launch of a pioneering afforestation project in Purulia, West Bengal. The project,which aims to transform fallow land into thriving forest ecosystems, involves planting 500,000 trees, with a potential to scale-up to 1.5 million trees. It will be registered under the VERRA VM0047 methodology, supported by advanced satellite monitoring and drone surveillance to ensure transparency, traceability, and high-quality carbon outcomes. The project shall help in improving soil fertility, promoting biodiversity and replenishing ground water. In addition to environmental restoration, it also supports community upliftment by generating employment, encouraging beekeeping and vermi-composting. 'Our foray into Nature-Based Solutions is a natural extension of our mission to connect the dots for a better world,' said Sanjeev Aggarwal, Founder and Executive Chairman of Hexa Climate. 'We are building climate-resilient assets that support businesses in achieving their Net Zero goals with integrity and impact.' 'We are delighted to partner with Hexa Climate on a project that exemplifies the dual power of climate action. We are excited to collaborate with local farmers, communities and experts to implement best practices in forestry and are committed to creating long-term value for both people and the planet. This is carbon finance with purpose,' Navin Mathur, COO, Asvata (RPG Group). About Hexa Climate Hexa Climate provides Net Zero solutions to corporates across APAC. Backed by I Squared Capital, a global infrastructure investor with over USD 40 billion in AUM, Hexa plans to deploy over USD 500 million in equity across its verticals including renewables, battery storage solutions and carbon offset solutions. In a carbon market increasingly scrutinized for quality and credibility, Hexa Climate is positioning itself as a solutions partner to corporates seeking research-backed, verifiable carbon credits. The company will offer long-term carbon credits under a Pay-on-Delivery model, providing corporates a trustworthy pathway to meet decarbonization targets. Future carbon projects under development include mangroves, biochar, and biodigesters, forming a diversified portfolio of scalable climate solutions. Visit our website | Follow us on LinkedIn About Asvata Asvata, the carbon credit venture of the RPG Group, is committed to accelerating climate action through high-impact carbon offset solutions. Headquartered in Mumbai, Asvata develops and finances projects that reduce greenhouse gas emissions while advancing sustainable development. Beyond carbon finance, Asvata plays an active role in end-to-end project development and portfolio management. Its core proposition lies in building high-quality carbon offset portfolios that help organizations achieve their sustainability and net-zero goals. Asvata supports climate action that extends beyond emissions reduction – enabling the transformation of communities, livelihoods, and ecosystems. Its diverse portfolio spans Nature-Based Solutions and Engineered Removals, reflecting a balanced and future-ready approach to carbon mitigation. Visit our website | Follow us on LinkedIn
Business Wire
13-05-2025
- Business
- Business Wire
Everspin Technologies to Present at the Ladenburg Technology Innovation Expo25
CHANDLER, Ariz.--(BUSINESS WIRE)--Everspin Technologies Inc., (NASDAQ: MRAM), the market leader in MRAM, announced that Sanjeev Aggarwal, President and Chief Executive Officer, and Bill Cooper, Chief Financial Officer, will present at the Ladenburg Technology Innovation Expo25, on May 21 st at 9:30 a.m. Eastern Time. About Everspin Technologies Everspin Technologies, Inc. is the world's leading provider of Magnetoresistive RAM (MRAM). Everspin MRAM delivers the industry's most robust, highest performance non-volatile memory for Industrial IoT, Data Center, and other mission-critical applications where data persistence is paramount. Headquartered in Chandler, Arizona, Everspin provides commercially available MRAM solutions to a large and diverse customer base. For more information, visit NASDAQ: MRAM.
Time of India
05-05-2025
- Automotive
- Time of India
JK Tyre targets 50% reduction in emissions and water use by 2030 with $100 mn ESG loan, says CFO
JK Tyre & Industries is aiming to cut its greenhouse gas emissions and raw water consumption by 50% by 2030 as part of its broader financial strategy tied to environmental goals, Chief Financial Officer Sanjeev Aggarwal told ETCFO. The company has secured a $100 million sustainability-linked loan (SLL) from the International Finance Corporation (IFC), making it the first Indian tyre manufacturer to tie funding directly to ESG outcomes. The two key KPIs embedded in the loan are a 50% cut in GHG emissions and a similar reduction in raw water use, both measured from 2018 levels. Funding to Support Capex and Debt Refinancing The funding has been split between JK Tyre ($30 million) and its subsidiary Cavendish Industries ($70 million), and will support ongoing capex at the Banmore and Laksar plants, with projects worth ₹1,025 crore in PCR (passenger car radial) tyres and ₹261 crore in TBR (truck and bus radial) tyres. The company will also refinance high-cost debt at Cavendish. Aggarwal said the move will help JK Tyre strengthen its position in key growth segments. Renewables and Investor Confidence in Focus JK Tyre has also joined the RE100 initiative, committing to 100% renewable electricity—a first for an Indian tyre maker. 'Aligning finance with ESG makes us more credible with global investors, especially as India pivots towards climate-smart manufacturing,' Aggarwal added. Outlook Strong, but External Risks Remain On the outlook, Aggarwal said the next six months should see continued demand traction, aided by logistics reforms, scrappage policy, and EV growth. However, he flagged elevated raw material prices and global trade uncertainties as key risks heading into FY26.
