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Daily Archives: December 11, 2013

IDFC may buy controlling interest in Orient Green wind assets

According to reports, IDFC Alternatives is discussing a large stake buy, possibly a controlling interest, in select wind power assets owned by Orient Green Power Company, a listed firm of the southern conglomerate Shriram Group. The transaction could be valued up to Rs 300 crore, said banking sources directly familiar with the matter. The deal may involve IDFC buying into fully owned subsidiaries of Orient Green Power, and not into the listed parent. Private equity arm of IDFC, managing assets ... Read More »

‘Multiple legal challenges hurting Tamil Nadu’s solar plan’

According to reports, multiple legal challenges are hurting Tamil Nadu’s ambitious plan of adding 3,000 megawatt of solar power by 2015, two state officials have said. Tamil Nadu, facing one of its worst-ever power crises, is betting big on solar. Chief Minister J Jayalalithaa’s administration has drawn up an ambitious plan to add 3,000 megawatt through this route by 2015, 1,000 megawatt every year starting 2013. Toward this, the state had floated a 1,000 megawatt tender, India’s single biggest tender, ... Read More »

Power tariffs may drop as norms for producers are tightened

According to reports, electricity rates may see a marginal drop if the draft regulations on power tariffs, issued by the Central Electricity Regulatory Commission (CERC), are approved. Back-of-the-envelope calculations show that the CERC proposal may bring down rates by 5 per cent. Currently, a consumer in Delhi pays about Rs 4 a unit. But the CERC mechanism will have a negative impact on the revenues of power producers such as NTPC, NHPC, Tata Power and Lanco. In fact, the news ... Read More »

Suzlon Gains After German Unit Wins 266-Megawatt Order

According to reports, Suzlon Energy Ltd. (SUEL), India’s biggest wind-turbine maker, rose as much as 4.2 percent after saying a unit won a 266-megawatt order in Germany. REpower Systems SE will deliver 103 turbines to 24 community wind-farm projects in the Schleswig-Holstein region, Suzlon said in an e-mailed statement today. The projects will be completed by 2015 and will use machines ranging in size from 2.05 megawatts to 3.2 megawatts, Suzlon said in the statement.   Read More »

SunEdison Rural Energy Fund Recognized As Public Charity

SunEdison  a leading worldwide solar energy services and technology partner and the SunEdison Rural Energy Fund (SREF), a non-profit that provides solar energy to rural and impoverished hospitals and schools, today announced that the IRS recognized SREF as a 501(c)(3) public charity.  SREF was established through a grant from the SunEdison Foundation. “SunEdison Rural Energy Fund is focused on providing reliable and affordable energy to the 1.4 billion people that have no access to electricity, and 1 billion more that ... Read More »

Canada company receives USTDA grant to supply fuel cells for Idea Cellular pilot project

Ballard Power Systems (NASDAQ: BLDP)(TSX: BLD) will be supplying ElectraGen™-ME fuel cell systems for a pilot project in Idea Cellular’s India telecom network. The fuel cell systems will be utilized in combination with solar technology to generate continuous power at five wireless base station sites. Funding for a feasibility study as well as the pilot project has been made available through a grant from the United States Trade and Development Agency (USTDA). This project will support Idea Cellular’s efforts to ... Read More »

Power Grid FPO price set at Rs 90/share, govt to get Rs 1,600 crore

According to reports, the government today fixed the issue price for the sale of Power Grid Corporation shares at Rs 90 apiece, the upper end of the band, which would fetch about Rs 7,000 crore. The follow-on public offer (FPO) of the state-run transmission utility last week saw bids for 530 crore shares, or 6.74 times the 78.7 crore shares on offer. Retail investors and eligible employees will get a discount of Rs 4.50 a share on the issue price, ... Read More »

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