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Daily Archives: March 13, 2013

Renewable Energy sector sees Foreign Direct Investment inflow of Rs 85.69 billion over last three years

There has been Foreign Direct Investment (FDI) inflow to the tune of Rs.8569 Crores (US$ 1756 million) in the renewable energy sector during the last three years and current years (as on 31.12.2012). 100% FDI through automatic route is available to investors of Renewable Energy Projects. The government offers fiscal and monetary incentives to renewable energy developers to promote investment. The Ministry of New and Renewable Energy organized an Investment Promotion meet at London, United Kingdom in June 2012 with ... Read More »

India, US to thrash out solar procurement issue

According to reports, India may consult with the United States on the Centre’s procurement policy on solar equipment, to dispel charges of discrimination in favour of domestic manufacturers of solar panels and modules for its National Solar Mission programme. According to the US, India’s programme appears to discriminate against US solar equipment makers by requiring solar energy producers to use Indian-made solar cells and modules and by offering subsidies to those developers for using domestic equipment instead of imports. Thus, the ... Read More »

HSBC ‘underweight’ on Suzlon Energy, shares slip 5%

According to reports, India’s largest wind turbine supplier Suzlon Energy  dropped nearly 5 percent in morning trade on Wednesday after the foreign research house HSBC rated the stock `underweight’. “We do not see the company generating sufficient cash from its operations to meet loan repayments,” HSBC reasoned. The target price for the stock is at Rs 9 a share, according to the report. Shares dropped nearly 13 percent in six consecutive sessions. At 10:48 hours IST, the stock fell 2.76 ... Read More »

Mytrah Energy to acquire 59.75 MW wind power assets in Maharashtra and Tamil Nadu

India-based power producer Mytrah Energy has announced a conditional agreement to acquire 59.75 megawhatt (MW) of existing operational wind power assets in the Indian States of Tamil Nadu and Maharashtra. The assets have on average an age of less than 12 months, and comprise turbines from Gamesa, ReGen and Enercon. The acquisition is expected to be completed during April of this year, bringing the group’s total portfolio of operational assets to 370 MW. In a statement the group said: “The ... Read More »

Industrial users complain of KSEB’s apathy, encourage board to tap renewable energy sources

According to reports, industrial users of electricity in the state have raised objection to the Aggregate Revenue Requirement (ARR) and Expected Revenue from Charges (ERC) petition of Kerala State Electricity Board (KSEB) for 2013 – 2014. They also complain that the board is lazy in increasing the production capacity. “The installed capacity of KSEB’s various power stations in the 2000 – 2001 period was 2409 megawatts (MW) while it was 2654 MW in 2012-13. The capacity addition in last 12 ... Read More »

Entrepreneurs’ trust plans solar tech park

According to reports, a solar research and technology park may come up at Chakan. Besides, a solar research institute and a centre of incubation and entrepreneurship was proposed by Entrepreneurs’ International on Tuesday. The Entrepreneurs’ International (EI) is a trust registered with the Union government for budding entrepreneurs in the country. The solar project will be developed in various cities in collaboration with Solar Valley, an energy group from Germany. “The EI has formed a national core committee for the solar ... Read More »

Govt. Committed to Promote Domestic Manufacturing in Solar Energy Under JNNSM

Following the launch of the Jawaharlal Nehru National Solar Mission, (JNNSM) in 2010 the domestic manufacturing capacity of SPV cells and modules has increased from about 200 MW to 2000 MW. One of the important objectives of the JNNSM is to promote domestic manufacturing in solar energy sector and certain domestic content requirements were made mandatory in various schemes of JNNSM Phase-I. The Government has also extended the benefits of excise duty exemption on finished products and of concessional customs ... Read More »

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