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Daily Archives: April 1, 2012

OPIC Board Approves $250 Million to Expand Renewable Energy & Infrastructure Lending in India

The Board of Directors of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, today approved $250 million in financing to help India’s premier infrastructure lender expand its lending to renewable energy and infrastructure projects, providing much-needed long-term capital to the country’s effort to keep pace with the sectors’ massive potential. India’s Infrastructure  Development Finance Company (IDFC) will use the OPIC guaranty to expand its lending to solar photovoltaic projects, energy efficiency projects, projects that reduce energy consumption ... Read More »

India Conducts First Test Run of a Vehicle with B100 Marine Microalgal Biodiesel

Shri Vilasrao Deshmukh, Minister, Science & Technology and Earth Sciences and VP, CSIR today flagged-off test-run of a fully loaded TAVERA (a regular diesel vehicle) on neat (B100) “microalgal biodiesel” from CSIR Headquarters, New Delhi.  Secretary, DSIR & DG, CSIR Prof. Samir K. Brahmachari and Secretary, MoES      Dr. Shailesh Nayak were present on the occasion. Shri Vilasrao Deshmukh said that in a significant advancement in this NMITLI project, I am given to understand that proof of concept for running a ... Read More »

PTC India Financial makes a killing in Indian Energy Exchange stake sale

According to reports, PTC India Financial Services (PFS) has hit a jackpot in a stake sale in Indian Energy Exchange Ltd (IEX). It raised Rs 70.76 crore by selling 14.01 per cent in IEX at Rs 166.51 a share, a price about 50 per cent higher than that in a similar move last year. But the scrip moved up just by 90 paise to Rs 15.75 on the NSE, though the counter witnessed huge volumes . What is interesting is ... Read More »

ICICI Bank to get $100-m credit line from ADB for energy projects

According to reports, the Asian Development Bank plans to provide a $100 million credit line to ICICI Bank. This is to fund renewable energy and energy efficiency projects in India. The central bank’s board approved the sanction on Wednesday. The credit line will target only projects identified by ADB and ICICI Bank. This is taking into consideration Indian government objectives and overall impact assessment, according to ADB. The bank’s support will help in developing renewable energy and energy efficiency in ... Read More »

Suzlon CFO Quits, as Losses Expand

According to reports, Suzlon Energy Ltd. (SUEL)’s chief financial officer quit as widening losses at India’s biggest wind-turbine maker jeopardize its ability to meet debt repayments this year. Robin Banerjee, appointed CFO in March 2009, left to take up an undisclosed position and Head of Corporate Finance Kirti Vagadia will assume his responsibilities, Suzlon said today in an e-mailed statement. The shares fell to a one-month low. Suzlon joins Vestas Wind Systems A/S (VWS), the world’s largest turbine maker, in ... Read More »

ReGen to raise Rs. 2 billion by April, IPO Next Year

According to reports, ReGen Powertech Pvt., the second- biggest Indian supplier of wind turbines, is in talks to raise 2 billion rupees ($39 million) from two private-equity investors. The company expects to close the deal by April 15, Managing Director Madhusudan Khemka said in an interview in Chennai yesterday. ReGen is also considering an initial public offering in 12 to 15 months, he said. India, the third-biggest wind market, is attracting investments as the cost of wind power closes in ... Read More »

GSMA and Bharti Infratel Partner to Expand Green Energy Initiatives for Telecom Towers

The GSMA and Bharti Infratel Limited today announced that they have signed a Memorandum of Understanding to develop and promote green technologies for telecom tower infrastructure in India. The collaboration will entail working together to convert 1,000 Infratel towers into green sites, which will reduce greenhouse gas carbon emissions by almost 11,000 tonnes as a result of the reduced usage of diesel. Bharti Infratel is one of the world’s leading telecom tower infrastructure providers, owning over 33,000 of India’s estimated ... Read More »

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