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Monthly Archives: February 2013

Status quo for solar industry- No provision for Phase II -VGF this budget

According to reports, the Budget has nothing specific to the solar industry, but the industry is not unhappy about it. In fact, the industry is sanguine about the fact that status quo has been maintained, there being no customs duty on solar cells and modules, as has been demanded by domestic manufacturers. The Budget does not set apart any sum for providing ‘viability gap funding’ to the projects that would be set up under the Phase II of the Jawaharlal Nehru ... Read More »

Waste to energy to get a boost from Budget 2013

According to reports, finance Minister, P Chidambaram promised to incentivise waste-to-energy projects that would come up through public private partnership mode with city municipalities and are neutral to different technologies. “This is a much needed welcome step. India’s waste to energy potential is enormous and the country has solid waste of around 55 Million tonnes besides 38 Billion litres of sewage every year barring the industrial wastes,” says Indresh Batra, Managing Director, Jindal SAW Ltd. Government will support municipalities that ... Read More »

India Budget Revives Wind Subsidy, Introduces Low-Cost Loans

According to reports, India today reintroduced a subsidy for wind farms and announced low-cost loans for clean energy generators in its budget for the year starting April 1. The South Asian nation will reinstate generation-based incentives for wind energy, Finance Minister Palaniappan Chidambaram said in his budget speech to Parliament. The government will allocate 8 billion rupees ($147 million) to the renewable energy ministry for the subsidy, he said. The withdrawal of the incentive contributed to a 50 percent drop in ... Read More »

Finance Minister assures growth momentum to power sector

According to reports, finance minister P Chidambaram has not only acknowledged the problems faced by the power industry largely due to fuel constraints and the financial condition of distribution utilities, but has also proposed fresh incentives for the sector’s growth. Chidambaram has announced PPP in the coal sector for higher production, and asserted that coal pooling would be a reality soon. He also extended Section 80-IA of the Income Tax Act pertaining to new investments in the sector and emphasised ... Read More »

Hotels told to comply with green norms

According to reports, the hotel industry is a huge water and energy guzzler. The environment department claims that five star hotels in Delhi are consuming about 15 million litres of water per day and discharging about 10 mld, much more than the international standards for consumption in five star hotels. To stem this violation, Delhi Pollution Control Committee and the environment department organized a workshop for hotels on Wednesday. “The emphasis of this workshop was to conserve natural resources. Hotels ... Read More »

Suzlon Falls Most in Four Years as Founders Sell Shares

According to reports, Suzlon Energy Ltd. (SUEL) fell the most in more than four years after founders of India’s largest wind turbine maker sold 109.9 million shares. The stock plunged 34 percent, the biggest drop since October 2008, to 16 rupees at the close in Mumbai. Suzlon’s founders sold the shares, which account for 6.19 percent of the company, to raise 2.4 billion rupees ($44 million) to repay lenders as part of a debt-recast plan, according to an e-mailed statement from ... Read More »

L&T Construction wins Rs 4.13 billion Solar EPC order from Kiran Energy for Tamil Nadu power plants

L&T Construction’s Solar Business Unit, the largest EPC player in solar power projects in India, has won new EPC orders worth Rs 413 crores from Kiran Energy for the construction of Solar PV plants in Tamil Nadu. In the Power Transmission & Distribution business, L&T construction has won a new order worth Rs 265 crores from the Tamil Nadu Generation & Distribution Corporation Limited (TANGEDCO) for power distribution work across various districts in Tamil Nadu. In April last year, Larsen ... Read More »

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