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    HSBC downgrades Suzlon Energy on FCCB conversions

    According to reports, HSBC downgrades Suzlon Energy to ‘hold’ (earlier overweight) and set a fair value target price of Rs 32. Our fair value target price implies an FY17e EV/ebitda of 13.4x. A delayed cash inflow from the asset divestment is a key downside risk to our investment thesis, while a faster-than-expected capacity utilisation ramp-up is a key upside risk. Suzlon appears to be on track to complete the divestment of Senvion for R7,200 crore and infuse fresh equity of ... Read More »

    Akhilesh sells UP’s solar policy in Germany

    According to reports, on his second day at the Hannover trade fair in Germany, chief minister Akhilesh Yadav met chief executive officers of manufacturing and IT companies and promoted the cause of new and renewable energy. The CM also visited the Digital India pavilion and the hall established for Solar PV manufacturing companies. Akhilesh said with power demand increasing at an average rate of 12%, the UP government has implemented a solar policy last year and is bracing for the ... Read More »

    Power mantra: Blend thermal with solar plants

    According to reports, developers of new coal-based power plants will have to set up renewable power units amounting to 10% of the total capacity, as the government integrated its commitment to reduce the emission intensity of the gross domestic product in a new tariff policy announced earlier this week. While the new thermal power units, for whom the new norm will be mandatory, will have their tariffs decided factoring in the (usually high) cost of renewable energy, developers of existing coal-based ... Read More »

    Green energy potential remains untapped: Ministry

    According to reports, India has 900 GW of commercially exploitable sources of renewable energy if 3 per cent of the country’s wasteland is made available, according to the Ministry for New and Renewable Energy. The renewable sources of energy include wind and solar power, biomass and waste-to-energy apart from small hydro power plants. The solar power potential of the country remains largely untapped with only 3 GW of installed power compared with 750 GW of potential. Wind power, on the ... Read More »

    Merrill Lynch International, Aion invest $60 mn in Mytrah Energy

    According to reports, Merrill Lynch International and Aion Direct Singapore Pvt Ltd have invested $60 million (Rs 350 crore) in Mytrah Energy Limited, the India-based renewable energy focused independent power producer, through non-convertible debenture. Together with the cash flow from its existing 543 Mw operating portfolio and the recently concluded $70 million financing, this new capital provides all of the equity required to take Mytrah Energy’s generating capacity beyond 1000 Mw, the company said in a statement. The new capital ... Read More »

    Vikram Solar Launches Collaborations With European Partners

    Vikram Solar has begun three new collaborations with leading international research institutes and technology companies from Germany and Switzerland. The partnerships are intended to further optimize the module production technology at Vikram, make preparations for cell manufacturing at the company, and establish a solar academy in India. Memorandums of understanding were signed to this effect with Fraunhofer ISE and the companies Meyer Burger and Centrotherm photovoltaics at the world’s largest industrial trade show, Hannover Messe. Fraunhofer ISE in Germany is ... Read More »

    Solar power picks up steam in more States

    According to reports, though Gujarat and Rajasthan are at the forefront of solar power development in the country, other states are also making rapid progress in harnessing energy from sun. Presently, Gujarat and Rajasthan account for over 50 per cent of India’s grid-connected solar energy capacity additions. However, states such as Madhya Pradesh and Maharashtra are also catching up fast, supported by their solar programmes. As of February this year, total installed capacity of solar power was 3,383 MW, constituting ... Read More »

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