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Monthly Archives: August 2015

India seeks SoftBank push for Modi’s solar goal

According to reports, India has closed bids for a third of its target of tendering 15,000 megawatts (MW) of solar projects this fiscal year, a government official said, and is expecting interest from investors such as SoftBank (9984.T) to lift the industry. The tenders are part of Prime Minister Narendra Modi’s ambitious plans to raise solar capacity five fold to 100,000 MW by 2022 to meet India’s growing power needs, create jobs and fight climate change without committing to an ... Read More »

Proposed policy to push solar UMPPs of 3,000 MW & above

According to reports, the Department of Industrial Policy and Promotion (DIPP) has proposed a policy replete with incentives for ultra mega solar power projects (UMSPPs) of 3,000 MW and above. According to official sources, the sops could include capital and interest subsidies, greater incentives for R&D, and excise and customs duty relief for capital equipment. The idea of DIPP (the nodal agency for the Modi government’s Make-in-India initiative) is to help the development of local industry for manufacture of solar ... Read More »

Punjab attracts Rs 3,500-cr investments for solar projects

According to reports, Punjab government today said it has received bids from as many as 18 companies for setting up solar projects in the state which will attract investment of Rs 3,500 crore. Companies like Sun Edison, First Solar and Sky Power from US, Solar Pack Corporation Spain, Emami Power, Sun Pharma, Acme, Hero Group, Welspun, Azure Power participated in the bidding process, Punjab New and Renewable Energy Minister Bikram Singh Majithia said in a release issued here. The state ... Read More »

Rise in solar cells’ production to bring Rs 30,000-crore investment & create 25,000 jobs in India

According to reports, the increase in manufacturing facility for solar cells and modules will bring in an investment of about Rs 30,000 crore and create 25,000 jobs in the country. “It is expected that the manufacturing capacity for cells and modules will increase roughly by 2,500 MW and 5,000 MW per annum, respectively.” “This is expected to create 25,000 jobs in manufacturing sector and bring in investment of about Rs 30,000 crore,” said an official in the New and Renewable ... Read More »

Suzlon’s offshore wind pilot in Gujarat to cost Rs 6,000 crore

According to reports, wind turbine manufacturer Suzlon Energy Limited is planning to invest about Rs 6,000 crore on India’s first offshore windmill project in bay of Kutch in Gujarat. The work on the 600-Mw project, to be set up on a pilot basis, will start early next year. Suzlon is already conducting a techno-commercial feasibility study for the offshore project. However, the company is taking regulatory hurdles and policy framework into consideration, even as it plans to complete the pilot ... Read More »

15% of India’s power by 2030 to be green, says NITI Aayog

According to reports, the National Institution for Transforming India (NITI) Aayog has told the environment ministry that renewable sources can make up at least 15% of India’s energy mix by 2030 if present policies are given a push. This analysis was done as part of the government’s strategy to enumerate India’s climate action plan to be submitted to United Nations. The action plan, called Intended Nationally Determined Contributions (INDCs), is awaiting Cabinet approval and is expected to be made in ... Read More »

UP to announce Biomass Energy Policy 2015

According to reports, Uttar Pradesh is targetting 1,000 megawatt (mw) of biomass energy under the new UP Biomass Energy Policy 2015, which is being finalised. The government is mulling providing 100% stamp duty on acquiring private land for setting up biomass power plant. If such plant is set up under a joint venture with state nodal agency UP New and Renewable Energy Development Agency (NEDA), the latter would provide land as its equity share. The draft policy is ready and ... Read More »

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