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    India seeks $2 bn from World Bank, ADB for rooftop solar projects

    According to reports, the government of India is in talks with the World Bank and the Asian Development Bank seeking $2 billion (₹13,000 crore) of funds. The funds would be used to provide cheaper loans for rooftop solar projects, Upendra Tripathy, Secretary, Ministry of New and Renewable Energy, said at Delhi today. The funds would be used to provide interest subvention to banks – banks would provide cheap loans and would be reimbursed for their sacrifice of interest from the ... Read More »

    Soft Bank plans big for Andhra Pradesh, to set up solar panel unit

    According to reports, SoftBank has on Tuesday indicated its interest to set up a solar panel manufacturing unit in Andhra Pradesh while making big investments in the renewable energy sector. On the second day of Andhra Pradesh Chief Minister N Chandrababu Naidu’s tour of Japan, SoftBank, Mizuho Bank, METI and several other Japanese banking institutions and organisations made commitments to be part of AP development plans. METI indicated its interest to pick up equity in capital development plan, according to ... Read More »

    India starts work on green power corridors

    According to reports, faced with an ambitious green energy target of 175,000 megawatts (MW) by 2022, India has started work to set up transmission corridors to supply green power across the national grid. State-owned Power Grid Corp. of India Ltd (PGCIL) plans to construct transmission links for 10,000MW solar capacity that may involve an investment of about Rs.9,000 crore. Of the total 100,000MW solar power capacity planned, 20,000MW will come from solar parks and 40,000MW each from roof-top and distributed ... Read More »

    Power Grid clears Rs 2,247 cr for Green Energy Corridor project

    According to reports, state-owned Power Grid Corporation of India (PGCIL) today said its board has approved a Rs 2,247.37 crore investment plan for the third part of the inter-state electricity transmission project. In a BSE filing, the company said: “The Board of Directors of the company at its meeting held on July 2, 2015, has accorded investment approval for Green Energy Corridors: Inter-State Transmission Scheme (ISTS) Part-C at an estimated cost of Rs 2,247.37 crore, with commissioning schedule of 36 ... Read More »

    India to Kick Off Solar Program This Month With $330 Million Aid

    According to reports, India will open its solar-expansion program this month by offering 21 billion rupees ($330 million) to set up projects across five states. State-run Solar Energy Corp. of India will invite bids for a total of 3 gigawatts of capacity in Gujarat, Madhya Pradesh, Uttar Pradesh, Karnataka and Tamil Nadu, Managing Director Ashvini Kumar said in an interview. All will be tendered by March. Prime Minister Narendra Modi is pushing for 100 gigawatts of solar power by 2022, ... Read More »

    Adani Group to set up solar park in Tamil Nadu for Rs 4,536-crore

    According to reports, business conglomerate Adani Group has proposed to set up a solar park in Tamil Nadu tipped to be among the world’s largest at an outlay of Rs 4,536 crore. State-run TANGEDCO (Tamil Nadu Generation and Distribution Corporation) and Adani Group signed an agreement today in the presence of Chief Minster J Jayalalithaa. ”Adani Group has proposed to set up five solar power generation centres with a total capacity of 648 MW in Ramanathapuram district of Tamil Nadu at an ... Read More »

    India in talks with ADB, World Bank for $2 bn loan for PGCIL

    According to reports, the World Bank and the Asian Development Bank (ADB) are in talks with the Indian government for providing a loan of around $2 billion to state-owned Power Grid Corporation of India Ltd. (PGCIL). In addition, the transmission utility is also evaluating the prospects of raising $500 million through global rupee-denominated bonds. The loan from the World Bank and ADB, if it comes through, will boost India’s green energy efforts and enable PGCIL to set up transmission corridors ... Read More »

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