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Daily Archives: May 20, 2013

Mytrah Energy gets funding offers for India acquisitions

Mytrah Energy has received conditional offers for the debt financing of its proposed acquisition of 59.75 MW of existing operational wind power assets in Tamil Nadu and Maharashtra. “This acquisition remains subject to regulatory approval and formal documentation and the Company looks forward to providing further updates in due course,” Mytrah said in a statement. In March this year,  Mytrah Energy had announced that it had entered into a conditional agreement to acquire 59.75 megawhatt (MW) of existing operational wind ... Read More »

Suzlon in Talks to Repay Investors After Dollar Bond Default

According to reports, Suzlon Energy Ltd., the world’s fifth-biggest wind-turbine maker, is in talks to repay investors after defaulting on $209 million of U.S. dollar-denominated convertible bonds in October, according to two people familiar with the matter. The company, the subject of India’s biggest convertible debt default, may issue notes denominated in the U.S. currency to fund the 2012 repayment, the people said, asking not to be identified because the details are private. Suzlon, based in the western Indian city of ... Read More »

Power transmission losses dip during 2011-12

According to reports, power transmission losses, which had continued to rise under the DMK regime and peaked at 9.82 per cent in 2009-10, reduced during 2011-12, after the AIADMK led by J Jayalalithaa took over the reins of the government. These are among the inferences contained in the report of the Comptroller and Auditor General (CAG), which was tabled in the Tamil Nadu Assembly on May 15, on the functioning of the State’s electricity body between 2007 and 2012. The report ... Read More »

India-Germany green energy pact nears closure

According to reports, with an assistance of €1 billion from Germany, India will develop green corridors fto link power generated from renewable sources like wind and solar energy into the national grid. Power minister Jyotiraditya Scindia held detailed discussions during his two-day visit to Berlin earlier this week for enabling India set up green energy corridors for the transmission of solar and wind power. The green energy corridors project will enable evacuation of over 30,000 MW of renewable energy generated during ... Read More »

Hero Electric to ring in ‘first response vehicle’

According to reports, with its electric scooters business not doing too well, the Ludhiana-based company Hero Electric is planning to manufacture niche products to prop up sales. The company already makes high-end electric bicycles branded as A2B, which are exported to 22 countries including Europe, the UK and the US, priced around Rs 2 lakh. One of such products is a ‘first response vehicle’, designed for catering to medical emergencies in areas where ambulances cannot enter. “These would be based on ... Read More »

Heavy penalties on States violating grid discipline in India

According to reports, to ensure optimal functioning of electricity networks, the Centre plans to slap penalties of crores of rupees on states that overdraw or underdraw power than their allocated quota. Sources said that hiking the amount of penalty on entities violating grid discipline is a major proposal being mulled by the Power Ministry. At present, the penalty imposed for non-compliance with the grid norms, especially overdrawal, is a few lakh rupees. After last year’s massive grid failures, the Ministry is ... Read More »

Punjab subsidy for solar pump sets

According to reports, Punjab government has decided to provide Rs 1 lakh subsidy on installation of 500 solar irrigation pump sets in the state during 2013-14 fiscal and a special fund of Rs 5 crore has been earmarked for it. Punjab Non-Conventional Energy Minister Bikram Singh Majithia said on Wednesday, the decision was aimed at promoting renewable and clean energy on one side and incentive to all those farmers opting for diversification, on the other. Farmers opting for diversification would be ... Read More »

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