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    ACME Solar to set up $200-mn power project in MP with IFC backing

    According to reports, ACME Solar has been granted, through international competitive bidding, a 250-megawatt (Mw) solar power project within the 750-Mwac Rewa Ultra Mega Solar Park (solar park) in the Rewa district of Madhya Pradesh. IFC plans to invest up to $50 million in the company, besides helping it mobilise $100 million. The estimated project cost is around $200 million. The proposed IFC investment involves providing an IFC loan/subscribing to non-convertible debentures (NCDs) of up to $50 million and mobilisation of loans of up to $100 million from other lenders. Proceeds from the IFC investment will be used ... Read More »

    India can catch up with China in renewable energy projects, says KV Kamath

    According to reports, India can implement renewable energy projects at a lower cost than most countries and catch up with China which has taken the lead in the sector, KV Kamath , the president of the New Development Bank — also known as the BRICS bank — said on Sunday. “In building scale, clearly in terms of manufacturing capacity and projects that are already on the ground, China took the lead. I must say India is catching on,” Kamath told ... Read More »

    Delhiites cold to solar energy, govt’s push for renewable power hits a wall

    According to reports, when it comes to using green energy, Delhiites are lagging way behind in installing solar power systems on their rooftops. After the Delhi Solar Policy was notified in 2016, the city government had set a target of generating 84MW of solar power only through rooftops in residences by March 2018. A year has passed since then, but households are contributing only around 15 MW in Delhi’s total solar power production of 56 MW. Faced with the tough ... Read More »

    ABB India wins order to install solar inverters at 750 railway stations

    According to reports,  ABB India, the local arm of the Swedish-Swiss engineering giant ABB, today announced it will provide solar inverters to 750 railway stations in north India to reduce dependence on traditional sources of energy. The stations are located in the busy northern Indian part of the network, one of the most used railway corridors in the world. “ABB solar inverters for this project vary between 5kW to 50kW in performance depending on the size of the station. They will be ... Read More »

    Sembcorp buys out IDFC’s stake in SGI for Rs1,410 crore

    According to reports, Singapore-based power producer Sembcorp Industries Ltd on Thursday announced the acquisition of IDFC’s remaining 28% stake in renewable energy firm Sembcorp Green Infra (SGI) for Rs1,410.2 crore (around Singapore $301 million) to become its sole owner. In February 2015, Sembcorp Industries acquired a 60% stake in IDFC Alternatives Ltd-backed renewable energy firm Green Infra Ltd for Singapore $227 million (around Rs1,060 crore). The acquisition marked Sembcorp’s entry into India’s renewable energy market. The latest announcement comes at ... Read More »

    India bars states from independently exiting, modifying solar projects

    According to reports,India has barred state authorities from unilaterally cancelling or modifying solar power purchase agreements (PPAs) after six state governments in last two months pushed developers to lower tariffs, threatening to derail projects worth $7.5 billion. Narendra Modi’s government aims to raise solar power generation capacity nearly 30 times to 100 gigawatts (GW) by 2022. The capacity has already more than tripled in three years to more than 12 GW. The government said it will impose a minimum penalty ... Read More »

    UK entrepreneur to invest Rs 1500 crore in waste to energy plants in South India

    According to reports, a UK-based entrepreneur specialising in converting waste to energy has proposed to invest Rs 1500 crore in several South Indian cities to set up plants in the next five years with advanced technology to tackle the waste menace. GJ Nature Care &Energy (GJNCE) promoted by Giby George has won the global bid for the waste-to energy project in Kochi . He is also in advanced stage of negotiation with the state governments in Kerala, Tamil Nadu, Karnataka and Andhra Pradesh to build ... Read More »

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