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Daily Archives: March 21, 2013

Consider separate credit limits for renewable energy projects: Govt to PSBs

According to reports, with huge investments targets for renewable energy projects including solar and wind power, the government wants the public sector banks to consider separate limits to improve fund flow to this sector. Bank loans to power sector have shown consistent growth. But banks give preference for conventional power projects than renewable energy units. This issue was part of agenda at a meeting the union finance minister had with chiefs of public sector banks in Delhi on March 18, ... Read More »

Suzlon to raise $650 m in $ bonds to retire debt

According to reports, as part of its debt restructuring package, the beleaguered Suzlon Energy will raise $650 million via five-year dollar-denominated bonds, backed by a consortium of lenders. The proceeds of the bond issue will be used to repay a maturing dollar loan. In January this year, the Pune-headquartered wind energy firm was able to convince bankers to allow it to recast its debt. The consortium of 19 banks had approved the R11,500-crore loan bailout package. The debt-laden company is looking ... Read More »

Units, not megawatts for Mahagenco’s solar power

According to reports, in a unique model, Mahagenco is asking solar power producers to build, operate and maintain a solar power plant, on a quasi-ownership model. As per this model, a private developer selected would have to raise finances, and set up a solar power plant, maintain it and generate power from an asset which will remain in the state power generating company’s books. The developer will get a right over the project for ten years. “This is the first time ... Read More »

‘Reconsider decision to drag India to WTO on solar energy’

According to reports, a dozen odd eminent American and international organisations have asked the US to reconsider its decision to drag India to WTO over solar energy policy. In a letter to US Trade Representative (USTR) today, these organisations have said that dragging India to World Trade Organisation (WTO) related to local content in solar panels would not only undercut New Delhi’s effort to reduce poverty, but also detrimental to developing a solar energy industry. “We are troubled that climate policy ... Read More »

India’s Karnataka State to Tender for 130 MW of Solar Projects

According to reports, India’s Karnataka state plans to tender for 130 megawatts of solar power projects next month, the state electricity utility said. Developers may submit bids for building one or more projects having three to 10 megawatts capacity, according to a tender document from state-owned Karnataka Renewable Energy Development Ltd. Companies may submit bids for both solar photovoltaic and solar thermal projects, it said. The developers will be responsible for laying power lines from their project to the nearest substation ... Read More »

India is world’s fourth largest energy consumer

According to reports, India, currently the fourth largest energy consumer in the world, together with China will account for the biggest share of Asian energy demand growth through 2035, according to a new report. The fourth largest energy consumer after the United States, China, and Russia,  India was the 10th largest economy in the world in 2011 growing at an annual rate of approximately 7 percent since 2000, according to the US Energy Information Administration (EIA). In the International Energy Outlook ... Read More »

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