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  • Latest Renewable Energy News

    After two years, Danish wind major Vestas returns to India

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    According to reports, in September 2012, Danish wind power major Vestas decided to “scale down sales effort in the Indian market”, which practically meant it was closing shop in the country. Almost two years later, it is all set to return, headed by a new Managing Director, Jorn Hammer, who previously steered the company’s Australian operations. The new Vestsa India is also keen on recruiting – it wants to hire a Head of Construction, Head of Public Affairs and a ... Read More »

    Tax-saving benefit given to wind industry may hurt solar sector

    GreenMountainWindFarm_Fluvanna_2004

    According to reports, the restoration of the tax-saving ‘accelerated depreciation’ benefit for the wind industry comes at a time when profit-making enterprises are being coaxed to put up solar projects to save on taxes. (The ‘AD benefit’ allows a company to write down 80 per cent of the cost of the machinery as depreciation, thus lowering profits on which tax is calculated.) In States such as Tamil Nadu a number of “AD customers” have cropped up for the solar industry. ... Read More »

    Karnataka Chief Minister calls for energy audit, metering of IP sets

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    According to reports, Chief Minister Siddaramaiah has advocated “energy audit” for a comprehensive understanding of how power generated in Karnataka was distributed across sectors, and said that this might even require “persuading” farmers to allow metering of their agricultural pumpsets. Participating in the 45th Foundation Day celebrations of the Karnataka Power Corporation Limited (KPCL) here on Sunday, he said that there was no clear accounting as of now on how power was distributed for agricultural, industrial and domestic consumption. He ... Read More »

    Green corpus without a cause?

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    According to reports, India’s green energy fund, which currently has around Rs.12,000 crore in the bank, runs the risk of becoming another corpus without a cause, unless the National Democratic Alliance (NDA) government reviews the way the money collected since July 2010 has been put to use. Only an insignificant portion of the National Clean Energy Fund (NCEF), which was expected to promote and fund clean energy projects, has been disbursed, according to a government official with knowledge of the ... Read More »

    L&T Infra Finance looks to offer renewable energy project finance

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    According to reports, L&T Infrastructure Finance Co. Ltd will venture into non-infrastructure segments and offer working capital loans as it transforms into the role of a wholesale lender, chief executive G. Krishnamurthy said. The company is promoted by L&T Finance Holdings Ltd, a subsidiary of Larsen & Toubro Ltd, India’s largest engineering company. “We are not an infrastructure project financing company any more; we are now the wholesale lending arm of L&T Finance Holdings,” Krishnamurthy said. While he did not ... Read More »

    National Solar Mission back with a bang

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    According to reports, after facing delays, trade disputes and industry tiffs, theJawaharlal Nehru National Solar Mission (JNNSM) appears to be back on track. The ministry of new and renewable energy (MNRE) has issued guidelines for setting up 1,500 Mw of solar power plants, the largest tender issued till now. It has also roped in NTPC Vidyut Vyapar Nigam (NVVN) to expedite the phase and meet the mission’s targets. NVVN would also bundle the solar power generated with cheaper conventional power and sell at an average ... Read More »

    MNRE bats for strict renewable power obligation compliance by states

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    According to reports, the ministry has suggested that SERCs may consider directing discoms to make provision in annual revenue requirements (ARRs) for meeting RPO shortfall by keeping money aside to purchase RECs equivalent to the shortfall. The validity of RECs should be extended by at least 6 months till RPOs were complied/enforced regularly in states. MNRE in its recent meeting with the Forum of Regulators (FOR) said against RPO level of 5.45% for non solar and 0.45% for solar the ... Read More »

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