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Daily Archives: February 14, 2017

IFC to invest $15 mn in Clean Max Equity

According to reports, International Finance Corporation (IFC) is planning to invest $15 million in Clean Max Equity. The fund infusion will support company’s plan to set up solar projects of upto 250 MW capacity over the next three years. The proposed transaction is a quasi-equity investment in Clean Max Enviro Energy Solutions (CMES). IFC will invest up to $15 million in compulsorily convertible debentures, said the World Bank’s investment arm. “An IFC investment would act as a stamp of approval for ... Read More »

Japan’s JERA acquires 10% stake in ReNew Power for $200 million

According to reports, as part of Japans’s attempt to engage with India’s green energy space, JERA Co., Inc. (JERA) has become an anchor investor in ReNew Power Ventures Pvt. Ltd before the proposed initial public offer (IPO) of the firm backed by Goldman Sachs and the Abu Dhabi Investment Authority (ADIA). “JERA has acquired 10% stake in ReNew Power for $200 million valuing the company at $2 billion,” said Sumant Sinha, chairman and chief executive officer of ReNew Power at ... Read More »

India’s solar power sector turns a corner, thanks to Rewa record tariff bid

According to reports, India’s solar power sector has turned a corner after the record low-winning bids of Rs2.97 per kilowatt-hour (kWh) to build 750 mega watt (MW) plant at Rewa in Madhya Pradesh (MP) on Friday. With effective levelized tariff—the value financially equivalent to different annual tariffs over the 25 year period of the power purchase agreement—of around Rs3.30 per unit, the power from sun has become a competitive energy source vis-à-vis the coal-fuelled conventional source of electricity. The conversation ... Read More »

India has 10-year window to shift completely to renewable energy: TERI

According to reports,  excess power generation capacity provides India an opportunity to shift completely to green energy. If the country can halve storage technology prices in 10 years it can do without the need for new coal based plants, a study by The Energy and Resource Institute (TERI) said. The TERI report indicated that current installed capacity and the capacity under construction would be able to meet demand till about 2026, keeping India power sufficient. The report estimates that no new ... Read More »

Rajasthan lags behind neighbouring states in solar power projects

According to reports, Rajasthan has lagged behind neighbours like Madhya Pradesh, Haryana and Gujarat in new and renewable energy despite holding a huge potential in the sector. According to Union ministry of new and renewable energy (MNRE) data, Rajasthan has only 31 MW approved/sanctioned projects under Grid connected roof-top and small solar power plants programme. However, Madhya Pradesh has 115 MW projects followed by Gujarat (81.75 MW) and Haryana (75 MW). Among all states with sanctioned/approved projects, Tamil Nadu leads by ... Read More »

India, Norway experts discuss next steps in renewable energy cooperation

According to reports, experts from India and Norway recently took part in a workshop organised jointly by Innovation Norway, The Norwegian Embassy, The Research Council of Norway, Institute of Technology Delhi and the Department of Science of Technology which focussed on cooperation between India and Norway in the energy sector. The participants were representatives from leading companies and educational and research institutions. Primarily the workshop functioned as a match-making and networking conference. The various parties have had a unique opportunity ... Read More »

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