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Daily Archives: February 8, 2017

RBI faces dilemma on masala bonds over Goldman-backed ReNew Power issue

According to reports, Goldman Sachs Group Inc. is forcing the Reserve Bank of India (RBI) to make a choice. The central bank will have to decide whether to let the masala bond market die slowly or gain new life in a different form than was envisaged when it allowed Indian companies to raise debt in rupees overseas. ReNew Power Ventures Private Ltd, majority owned by Goldman, sold $475 million of five-year bonds at 6% using a structure that sidesteps RBI ... Read More »

Rural Electrification Corp provides Rs 6,890 crore assistance to Tamil Nadu

According to reports, State-run Rural Electrification Corp (REC) has given Rs 6,890 crore financial assistance to Tamil Nadu for implementation of power sector related works. “Loan agreements were signed between REC Ltd and TANGEDCO, TANTRANSCO for financial assistance of Rs 6,890 crore on January 28, 2017 in Chennai for implementation of 1×800 MW super critical thermal power plant at North Chennai, renovation and modernisation of TANGEDCO’s existing thermal power plants and establishment of new 765 KV, 400 KV sub-stations in and ... Read More »

Schneider Electric powers 2 GW of solar capacity, eyes 2.5 GW by March

According to reports, Schneider Electric India has announced it has powered more than 2 giga watts (GW) of solar capacity in India through its inverters, transformers and other medium-voltage equipment and expects to achieve 2.5 GW by March 2017. Of the country’s cumulative solar capacity of 10,000 MW, 20 per cent flows through Schneider Electric’s equipment. By March 2017, the company plans to supply and commission equipment for another 500 MW solar projects, increasing its share of the total capacity to ... Read More »

India looking at solar power storage technology from Belgium

According to reports, India is looking at an innovative Belgian solar storage technology that promises to offer consumers a source of quality power as a green and reliable alternative to flickering supply from battery storage or diesel generators in distant or off-grid locations. NISE (National Institute of Solar Energy), an autonomous entity under the new and renewable energy ministry, and Tiger Power of Belgium, on Tuesday inked a MoU for validation of the technology that combines solar panels, normal lead-acid battery ... Read More »

Rewa solar project receives sub Rs 4/unit bids

According to reports, Madhya Pradesh government’s Rewa ultra mega solar park has received the lowest bid of Rs 3.59 per unit. The tariffs are set to reduce further as the reverse e-auction for the 750-mw solar project are set to start on Thursday. Manu Srivastava, principal secretary, new and renewable energy, Madhya Pradesh government told ET that Rs 4 per unit barrier has been breached by Rewa project even before auction. According to the bidding rules, the lowest initial tariff would ... Read More »

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