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Daily Archives: December 5, 2012

Tamil Nadu floats largest-ever solar tender in India

According to reports, the Tamil Nadu has come out with its tender for award of solar power projects in the State — the largest ever issued in India — even as the threat of anti-dumping duty on imported cells and modules from select countries looms large over the programme. The tender, issued today, is for the “procurement of solar power from developers establishing solar power plants of 1 MW or above capacity in the State of Tamil Nadu at the rate ... Read More »

India Proposes 9 Gigawatts Solar Capacity to 2017

According to reports, India released a draft policy with the goal of building 9,000 megawatts of grid-connected solar plants by 2017, more than eight times its current capacity. Plans include auctioning 1,650 megawatts of photovoltaic capacity by the central government in the next financial year, grants to cut project costs and loosening curbs on the purchase of equipment from overseas, according to the draft published on the website of the Ministry of New and Renewable Energy. The policy would for ... Read More »

High interest rates, short-term loans add 24-32% to renewable energy costs in India

According to reports, Climate Policy Initiative (CPI), a global policy effectiveness analysis and advisory organisation, and the Centre for Emerging Markets Solutions (CEMS) at the Indian School of Business (ISB) have found that high interest rates and relatively short-term loans for renewable energy projects add 24-32% to the cost of renewable energy in India, as compared to similar projects in the US and Europe. The CPI-ISB energy and environment programme report ‘Meeting India’s renewable energy targets: The financing challenge’ finds that ... Read More »

Fonroche Energie SPV in India raises Rs 1 billion for 20 MW Solar PV project

According to reports, Mahindra EPC Services will set up two solar photovoltaic power projects in Rajasthan along with a French company, Fonroche Energie S.A.S through its special purpose vehicles in India worth Rs. 100 crore ($18 million). A consortium of lenders comprising of KKR India Financial Services, Tata Capital Financial Services and Aditya Birla Finance are providing the term loan for the financing of the two projects.I I&S Associates advised Mahindra EPC Services, A&M Law Offices advised Fonroche Energie and the SPVs ... Read More »

Munich Re offers serial loss cover for REpower’s offshore wind turbines

According to reports, global reinsurer Munich Re has signed a deal with wind energy turbine company REpower, a subsidiary of Suzlon Energy, to offer serial loss cover for the latter’s offshore units. A corresponding cover for a North Sea wind energy farm was signed between the two entities. Munich Re will pay for the repair or replacement of defective turbines or individual components, if there are serial losses affecting a number of elements such as the gearbox, the rotor or the ... Read More »

Border villages to be illuminated with solar power

According to reports, the central government has approved the project to illuminate backward villages on the Indo-Nepal border with solar energy under the border area development scheme. The service would be free for the villagers and the responsibility of looking after the solar street lights would be entrusted to the villagers themselves. A large part of the district comes under the Sohelwa forest division which is spread across 452 square kilometers and includes several gram panchayats of Gaisdi, Pachpedwa, Haraiyya and ... Read More »

Rooftop solar units under Anert’s scrutiny

According to reports, as part of setting up 10,000 rooftop solar power units across the state, the Agency for Non-Conventional Energy and Rural Technology (ANERT) is scouting for experts to inspect the quality of the power units being set up. “We plan to set up a panel of experts in all districts to ensure that the solar power units being installed by different companies on rooftops stick to the safety standards and quality. We hope the retired engineers from the Kerala ... Read More »

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