Development Watch – Week #4 Sept’25

Development News

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50 billion Euro IKEA investment in Indian RE

IKEA’s family office, IKEA Retail, has bought solar and wind assets from Germany-based ib vogt in Rajasthan for Rs. 1200-1400 crore. The assets have a power generation potential of 241 megawatts. IKEA’s focus is on areas like circular economy, sustainability, and healthcare. The acquisition could increase the power generation potential as projects progress. Ingka Investment which houses IKEA retail has paid Rs 1200-1400 crore for the assets.

Coal India tenders for 5 GW renewable power capacity

Coal India, facing a production dip of 3.5% in the initial five months of this fiscal year, is diversifying its energy portfolio. The state-run mining giant has issued tenders for 3 GW of solar and 2 GW of wind power projects. This move aims to boost revenue sources and expand its renewable energy capacity to 9.5 GW by 2030. Production by Coal India, which accounts for about three-quarters of the country’s coal output, fell 3.5% during the first five months of this fiscal year ending March 2026.

Centre’s policy to tap geothermal energy

Countries such as Germany have accelerated geothermal expansion and Big Tech companies in the U.S. have been scouting for low-carbon electricity to fuel AI growth. India has identified 381 hot springs and 10 geothermal provinces, including Ladakh, Himachal Pradesh and Gujarat, the MNRE said. It also encourages repurposing abandoned oil and gas wells and deploying ground source heat pumps for heating and cooling. The policy also promotes joint ventures between geothermal developers and oil, gas, and mineral companies, and proposes fiscal incentives such as tax holidays, import duty exemptions and viability gap funding.

7 locations in Mumbai for Affordable Housing

The House of Abhinandan Lodha (HoABL) is expanding into affordable housing in the Mumbai Metropolitan Region, identifying seven locations for development. They plan to form alliances with landowners, mirroring their joint venture with Mittal Builders in Naigaon. HoABL’s maiden project utilizes an AI-driven sales strategy and aims to deliver a self-sustained urban ecosystem by December 2029.

NCC reservoir in Bihar at Rs. 2,000 Crores investment

NCC Limited has secured a Rs 2,090 crore project from the Water Resource Department for the construction of the Barnar reservoir in Bihar’s Jamui district. This long-awaited project, initially approved in 1975, aims to develop dam structures and irrigation channels. The project faced delays and cost revisions, with the state government having already spent Rs. 63.89 crore. The authorities submitted a project proposal for cost revision in CWC with estimated cost of Rs. 2,302.22 crore at 2022-23 price level in October 2023. The same was returned to the state government on January 2024 with a suggestion to prepare a new DPR with updated hydrology, irrigation planning and cost estimate with 2023-24 price level.

Nongjrong village in Meghalaya a popular tourist spot

Nongjrong, a serene village in Meghalaya’s East Khasi Hills, has recently gained attention after being highlighted by Mr. Anand Mahindra. This hidden gem offers travellers a unique glimpse into rural life. Surrounded by rolling hills blanketed in clouds, cascading waterfalls, verdant valleys, and dense forests, the village promises an immersive experience for those seeking serenity, adventure, and cultural exploration. The villagers primarily rely on agriculture, cultivating crops suited to the hilly terrain while preserving customs passed down through generations. A stroll through the village reveals rural architecture, handcrafted goods, and a glimpse into the daily rhythms of life that have remained largely unchanged. Just three kilometres from the village lies Nongjrong Falls, a stunning cascade surrounded by lush forest. The nearest airport is Lokpriya Gopinath Bordoloi International Airport in Guwahati, approximately 100 km away. The best time to visit is between October and May when the skies are clear.

Excavation at BKC for Bullet Train

The Bandra Kurla Complex station, part of the Mumbai-Ahmedabad High-Speed Rail Corridor, is progressing. Excavation is 84 percent complete. The station will be 32.50 metres deep. It will have three floors and six platforms and each being 415 m long. The design is inspired by the Arabian Sea. Connectivity to metro lines and roads is planned. The station will have ample space and natural lighting. There are 12 stations on the entire corridor and BKC will cater to Mumbai.

Rs. 6 Lakh Crores Shipping Spend and Maritime Investments

India’s significant annual expenditure of ₹6 lakh crore to foreign companies for shipping, nearly equivalent to the country’s defense budget. This dependence is generally attributed by the PM to the Congress governments’ neglect of domestic shipbuilding, hindering India’s potential. There is an emphasized the need for self-reliance in the shipping sector to bolster economic sovereignty and realize India’s true capabilities. India’s maritime sector is poised for significant growth, with projected investments of Rs 80 lakh crore and the creation of 1.5 crore jobs. The Sagarmala program, with 840 projects underway, is driving this transformation. Key initiatives, including the Vadhavan Port and improvements in port turnaround times, are positioning India as a global maritime leader, with Kerala playing a crucial role.