Home » 2015 » July » 30

Daily Archives: July 30, 2015

Munjal family led Hero Group looking to raise funds for renewable energy business

According to reports, the Modi government’s plans to make India one of the world’s largest renewable energy markets has not only attracted a bee-line of global investors but has also led to large Indian conglomerates re-looking at the space. ET NOW learns from multiple sources that the Munjal family led $5.6 bn Hero Group is looking to expand its footprint in the sunrise sector through its holding company for all renewable energy projects – Hero Future Energies which is headed ... Read More »

Cheap Power or Clean Energy? India’s $200 Billion Dilemma

According to reports, a weak link lurks in Indian Prime Minister Narendra Modi’s push for an unprecedented $200 billion expansion of clean energy: cash-starved state electricity distributors. The retailers have racked up more than 2.5 trillion rupees ($39 billion) of losses partly because they’re forced to sell below cost to keep energy affordable, Power Ministry data show. Reliant on loans and subsidies, their scope to embrace solar and wind over cheaper, dirtier coal-fired supplies is in question. That leaves Modi ... Read More »

Policy clarity on wind energy sought

According to reports, India has the potential to achieve 60 GW of installed wind energy capacity by 2022 provided concerns related to infrastructure and grid are addressed, according to the industry. Madhusudan Khemka, Chairman of the Indian Wind Turbine Manufacturers’ Association, and D. V. Giri, its Secretary-General, told presspersons here on Saturday that the country aimed to scale up the installed wind energy capacity to 60 GW from the existing 23 GW in seven years. The manufacturers were going to ... Read More »

Fitch affirms Greenko’s US$550mn Notes at ‘B’

According to reports, Fitch Ratings has affirmed the rating on Greenko Dutch B.V.’s (GBV) US$550mn notes at ‘B’. The Recovery Rating is ‘RR4’. GBV is a subsidiary of Greenko Plc, which is involved in hydro and wind power generation in India. GBV used the proceeds from the notes to refinance existing debt at operating entities within a restricted group of companies that is defined in the indenture to the note issue. The operating entities in turn issued Indian rupee-denominated bonds to ... Read More »

Scroll To Top