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Daily Archives: May 24, 2012

Solar Energy Industry Advisory Council of India meets for the first time

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Union Minister of New & Renewable Energy Dr. Farooq Abdullah has called upon the industry leaders to invest in Solar Energy Projects in the country. He was addressing the first meeting of the Solar Energy Industry Advisory Council (SEIAC) in New Delhi today. Dr. Abdullah assured them of the full support of the Government in setting up solar projects based on both grid connected as well as off grid applications.  At the same time, he asked industry leaders to respond ... Read More »

AMSC Receives 100 MW Wind Turbine Electrical Control System Order From Inox Wind

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AMSC, a global solutions provider serving wind and grid leaders, today announced that Inox Wind Limited, part of India’s Inox Group of Companies, placed a follow-on order for 50 of AMSC’s electrical control systems (ECS) for Inox’s 2 megawatt (MW) wind turbines. AMSC expects to ship all of these systems to Inox in 2012. This is the fourth volume order that AMSC has received from Inox in the past two years. “Inox is producing some of the best performing and ... Read More »

Rural Electrification Corp of India plans to raise $750 million via ECBs

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According to reports, REC Ltd on Thursday said it will raise $750 million via external commercial borrowings in 2012-13. Mr Rajiv Sharma, Chairman of REC, said the company would need approvals from the Ministry of Power and the Reserve Bank of India for the ECB. At the same time, REC targets to raise $1 billion through FCCBs. The Department of Disinvestment gave its go-ahead for the FCCB on February 2. Now, the nodal Ministry of Power would move a Cabinet ... Read More »

Fitch stops monitoring Wartsila India

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According to reports, Fitch Ratings has “migrated” Wartsila India Ltd’s long-term rating to ‘non monitored category’ due to “lack of adequate information” from the company. This means Fitch will no longer provide ratings or analytical coverage of Wartsila India. The ratings will remain unmonitored for six months at the end of which the ratings will be withdrawn. “However, in the event Wartsila starts furnishing information during this six-month period, the ratings could be reinstated,” says Fitch. Wartsila India is the ... Read More »

For Gamesa, Indian arm to be manufacturing hub for 850kW wind turbines

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According to reports, Gamesa India will soon become the manufacturing hub for the 850-kW wind turbines for its Spanish parent. The Indian subsidiary will also look to export the 850-kW turbines to North Africa and the UK. “We are working on it and we expect to sign an order soon,” says Mr Ramesh Kymal, Chairman and Managing Director, Gamesa India. The 850-kW turbine, which Gamesa believes is a workhorse for it, is ideal for medium and low wind speed regimes. ... Read More »

India’s first solar Renewable Energy Certificates issued, to M&B Switchgear

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According to reports, the country’s first solar ‘Renewable Energy Certificates’ were issued today. NSE and BSE-listed M and B Switchgear Ltd was issued 249 RECs by the National Load Despatch Centre in New Delhi. RECs are generation-based ‘certificates’ awarded (electronically, in demat form) to those generating electricity from renewable sources such as wind, biomass, hydro and solar, if they opt not to sell the electricity at a preferentially higher tariff. These certificates are tradeable on the power exchanges and are ... Read More »

M&M eyes 100 MW from solar power projects in India in 2-3 years

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According to reports, diversified business conglomerate Mahindra & Mahindra today said it is targeting to commission over 100 megawatts of  solar power projects across India over the next 2-3 years along with with its partner Kiran Energy. Mahindra Solar One, which is a joint venture with Kiran Energy, is under Mahindra & Mahindra’s Cleantech Ventures and is currently working on three projects to generate a total of 50 MW of photo voltaic (PV) power by the end of this fiscal. ... Read More »

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