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Daily Archives: May 31, 2013

ONGC to invite partners for renewable energy venture

According to reports, the state-owned Oil and Natural Gas Corp. Ltd (ONGC) plans to invite expressions of interest (EoI) shortly from potential partners in a joint venture for generating 6.5 gigawatts (GW) of renewable energy such as wind and solar power, chairman and managing director Sudhir Vasudeva said. The venture may provide a boost to renewable energy generation in the country. In addition, the explorer also plans to sign an agreement with state-owned Nuclear Power Corp. of India Ltd for ... Read More »

Policy uncertainty hits growth of solar industry: Mercom

According to reports, Indian solar sector’s growth continues at a slow pace amidst policy uncertainty and experimentation. Policy uncertainty is rife, with rules being changed every other month, according to Mercom Capital Group, llc, a clean energy consultancy. Of the 1,761 MW installed base in the country, about 557 MW was installed so far in 2013 and several projects have been delayed. Considering India an emerging solar market where the growth rate is expected to be much higher than other ... Read More »

India’s Suzlon shares slump to record low

According to reports, shares in India’s Suzlon Energy Ltd fell as much as 5.4 percent to a record low on Friday after the wind turbine maker said its January-March net loss widened from a year ago. Suzlon posted a net loss of 19.1 billion rupees ($339.59 million) in the previous quarter, compared to a loss of 3 billion rupees a year ago, in results out late on Thursday. The company’s board also approved the issuance of equity and equity-linked instruments ... Read More »

Moser Baer’s net loss widens to Rs 108.47 cr in Q4

According to reports, CD maker Moser Baer India (MBIL) today reported a standalone net loss of Rs 108.47 crore for the quarter ended March 31, 2013. The Delhi-headquartered firm had posted a net loss of Rs 59.60 crore in the year-ago period. MBIL’s standalone total income declined by 35 per cent to Rs 290.06 crore in January-March quarter of last fiscal from Rs 448.39 crore in the same quarter of 2011-12, it said in a BSE filing. Commenting on the ... Read More »

Orient Green reports Rs 64.13 cr Q4 loss

According to reports, renewable energy power producer Orient Green Power Company today reported a net loss of Rs 64.13 crore for the fourth quarter ended March 31, 2013. The Chennai-based company had reported a net loss of Rs 57.11 crore during the same period a year ago, Orient Green Power Company Ltd said in a BSE filing. For the financial year ended March 31, 2013, the net loss of the firm stood at Rs 81.71 crore as against a net ... Read More »

Lanco sells 10MW wind farm in Tamil Nadu, looking to divest other renewable energy assets

According to reports, low capacity utilisation of power plants and a poor show by its EPC division impacted the financial performance of Lanco Infratech Ltd for the fourth quarter and for the financial year ended March 31, 2013. The infrastructure company posted a loss of Rs 31.6 crore in Q4, against a profit of Rs 72.7 crore for the corresponding previous period. It had to take a forex hit of 16.7 crore. Income for the fourth quarter was up 6 ... Read More »

Solar dryer for fruit and vegetables wind Dell Social Innovation Award

According to reports, Vaibhav Tidke and Shital Somani are two young determined individuals who have won this year’s Dell Social Innovation Challenge for their project Solar Conduction Dryer. They promise that their project, which is essentially a dehydrator of fruits and vegetables powered by solar conduction, will make the lives of farmers in the country much easier. Tidke and Somani won a whopping $60,000 for their innovation, which is currently being worked upon at the Institute of Chemical Technology, where ... Read More »

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