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Daily Archives: May 16, 2012

Bollywood hero Ajay Devgan meets Gujarat Chief Minister Modi, discusses solar projects

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According to reports, Bollywood actor Ajay Devgan on Tuesday met Gujarat Chief Minister Narendra Modi and showed keenness to enhance participation in the solar power generation projects in the state, official sources said. After setting up a 25 MW solar power plant through a joint venture in Gujarat’s solar park at Charanka, the actor evinced interest to partner in the state’s canal-based solar power generation project. Devgan thanked Modi for the government’s cooperation for his solar energy venture, an official ... Read More »

Welspun to invest $225mn to develop a 125MW solar project in Madhya Pradesh

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Acording to reports, Welspun Group, the country’s largest solar power developer, has won a 125 MW solar photovoltaic project in Madhya Pradesh, a top company official said today. “We bid Rs 8.05 per unit to bag the 125 megawatts (MW) out of 200 MW that was auctioned by the Madhya Pradesh government,” Welspun Energy Ltd Managing Director Vineet Mittal said here.After the formal award of the project, Welspun Solar Madhya Pradesh Pvt Ltd will put up one solar photovoltaic project ... Read More »

Pindra Tehsil (Uttar Pradesh) premises circuit house to get solar power

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According to reports, the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has decided to equip the local circuit house here with solar energy for better utilisation of alternate energy sources. The agency has prepared a proposal, initiated by the PWD, of about Rs 65 crore to provide solar light to the circuit house and Pindra tehsil compound, an official said today. “It is a step towards growing utilisation of solar power as a non-conventional source of energy. The ... Read More »

Greenpeace for network of microgrids in Bihar

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According to reports, a Greenpeace India today said that a network of microgrids should be set up to provide energy to all in Bihar through renewable energy sources. Greenpeace India executive director Samit Aich, while releasing the report at a function here, said that this model of energy supply will foster inclusive growth and remove the energy poverty in Bihar. Bihar has enormous energy deficit which is a major challenge for the growth of the state, but it has the potential ... Read More »

Energy-intensive sectors in India turn to saving

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According to reports, the Perform, Achieve and Trade (PAT) scheme to encourage energy saving in energy intensive sectors such as power, steel and cement has begun to attract companies to its fold, according to CII Sohrabji Godrej Green Business Centre. The Bureau of Energy Efficiency, Government of India, has included cement manufacturers among top nine energy consuming sectors which require efforts to improve efficiencies and bring down power consumption. Mr. K.S.Venkatagiri, Principal Counsellor, at the Centre said 500 companies have ... Read More »

Indowind Energy Seeks to Raise Funds to Help Pay Off Debt

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According to reports, Indowind Energy Ltd. (IEL), which sells wind power in India to companies including Oracle Corp. (ORCL) and Citibank Inc., seeks to raise $30 million to help pay off loans and bondholders. The board has decided to try and raise the money through external commercial borrowings to meet a “gap in funding,” the company said today in a filing. It needs $20 million “for clearing” long-term loans and payments on its foreign-currency convertible bond, it said. The remainder ... Read More »

Moser Baer Plans to Revamp Loans, Bonds Amid Solar Glut

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According to reports, Moser Baer India Ltd. (MBI), the nation’s biggest solar manufacturer, plans to restructure $738 million of loans and bonds as it jostles to survive a supply glut that has claimed at least 10 U.S., German and French panel makers. The company expects to reach an agreement with banks to restructure 35 billion rupees ($646 million) of secured debt by August and may sell new five-year bonds to pay off dollar- convertible notes maturing in June, Chief Financial ... Read More »

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