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Daily Archives: April 25, 2012

Usher Agro Limited commissions 16MW rice husk biomass plant in Uttar Pradesh

Usher Agro Limited has informed the Exchange that the Company’s subsidiary company, Usher Eco Power Limited has successfully commissioned its 16MW Rice Husk Biomass Co-generation power plant at Chhata, Mathura, Uttar Pradesh on April 24, 2012. Further, as informed earlier for setting up another Rice Husk Biomass Co-generation power plant of 18MW Usher Eco Power Limited is proposing a public issue of equity shares and has filed Draft Red Herring Prospectus (DRHP) with SEBI on February 03, 2012. Read More »

Narmada canals of Gujarat can produce 2,200 MW of solar power, save 11,000 acres of land

According to reports, if even 10 per cent of the 19,000 km-long Narmada canal network in Gujarat is used for setting up canal-top solar panels, it has the potential to produce 2,200 MW of solar power, save 11,000 acres of land that would otherwise be used and prevent 2,000 crore of precious water from evaporation annually, the Chief Minister, Mr Narendra Modi, said. Also, canal-top solar power equipment produces 15 per cent more power than the plant set up on ... Read More »

India’s Rajasthan State Delays Solar Power Contracts Till August

According to reports, India’s Rajasthan state will delay awarding contracts to companies to build 200 megawatts of solar capacity by about two months to August. The last day to submit expressions of interest is May 18, M.M. Vijayvergia, executive director of the state-run Rajasthan Renewable Energy Corp., which is overseeing the process, said today in an interview in Jodhpur. Shortlisted candidates will be invited to submit bids and the process should be finished around August, he said, without giving a ... Read More »

Solar Energy Corporation to be fully functional by June

According to reports, state-run  Solar Energy Corporation, formed primarily for executing the  Jawaharlal Nehru National Solar Mission (JNNSM), will be fully functional by June. “The broad mandate of the company will be to help the ministry to implement JNNSM. It will be fully functional in another two months,” Director Ministry of New and Renewable Energy  Ashvini Kumar said at the Fourth Asia Solar Energy Forum here. Under the JNNSM launched in 2010, the government intends to commission 20,000 MW in grid-connected ... Read More »

Luis Miranda Joins Global Environment Fund As Senior Advisor

According to reports, former IDFC Private Equity chief Luis Miranda has joined Global Environment Fund (GEF) as a Senior Advisor. Miranda will be based in Mumbai, “where he will contribute to GEF’s private equity investments in India and South Asia,” the investment firm stated. GEF, which manages approximately $1 billion globally, is raising a $200 million fund focused on clean energy in South Asia. GEF’s South Asia Clean Energy Fund, L.P. has raised $85.3 million and targeting $200 million, according ... Read More »

Moser Baer Solar enters corporate debt restructuring cell

As expected, according to reports, India’s  solar power ambitions may get a jolt with the first major company in the industry  Moser Baer Solar headed to the corporate debt restructuring cell with Rs 739 crore in restructuring. Moser Baer Solar is a subsidiary of  Moser Baer India. Another subsidiary company Moser Baer Photo Voltaic with a debt of Rs 823.63 crore was admitted to CDR in January. “In April, companies including Moser Baer Solar, Gontermann-Peipers (India) and PCH Retail have ... Read More »

IFC To Invest $130 Mn In Inox Renewable to fund 400MW wind projects

According to reports, IFC is planning to invest $130 Mn in INOX Renewables Limited, a subsidiary of Gujarat Fluorochemicals Limited. The funds raised will be used to fund 400 MW of wind projects in the states of Rajasthan and Gujarat. IFC’s proposed investment involves equity investmentof $40Mn in IRL and senior debt of $90Mn. Incorporated in 2010, INOX Renewable is a part of INOX Group which has interest in diverse businesses including Industrial Gases, Refrigerant Gases, Fluoro Chemicals, PTFE, Renewable ... Read More »

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