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Monthly Archives: February 2017

Plummeting wind tariffs raise questions of viability

According to reports, what they feared, has happened. For long, the wind turbine manufacturers have been resisting any move for auctioning wind power capacity on the basis of competitive tariff bids, fearing an intense auction room battle would hammer down the prices. For the machine manufacturers like Suzlon, Gamesa and Inox, the customers are the wind energy companies—the ‘independent power producers’ (IPPs). If the IPPs get low prices for their electricity, pressure would be on the manufacturers to drop prices. ... Read More »

OGPC seeks shareholders’ nod to convert debt into equity

According to reports, Orient Green Power Company (OGPC) has sought shareholders’ vote on converting up to Rs 50 crore of debt of Yes Bank into equity. The special resolution is to approve the conversion of loan into equity through allotment of equity shares of the face value of 10 to Yes Bank Ltd. The move follows bank’s exercise of its right to convert certain outstanding credit facilities granted by the bank which shall not exceed the amount of principal of ... Read More »

Wind power tariffs crash to ₹3.46/kWhr, set a new benchmark at auction

According to reports, wind power prices have crashed to ₹3.46 a kWhr in the country’s first ever auction of wind capacity. The least wind tariff today is ₹4.16 in Tamil Nadu, if one ignores the outlier ₹3.82 for some specific sites in Maharashtra. This fall in wind tariffs mirrors a similar trend in solar tariffs witnessed earlier this month, when the prices fell to an unprecedented ₹3.29, averaged over 25 years. Four companies, Mytrah Energy, Green Infra, Inox and Ostro ... Read More »

ADB to lend $500 million to India for power transmission projects

According to reports, the Asian Development Bank (ADB) will lend $500 million to India to improve large-scale power transmission from the northern to the southern regions, while helping integrate renewable energy in the country’s power system. The ADB loan will make up around 19% of the $2.58 billion total project cost while Power Grid Corporation Ltd will provide $2.08 billion. The loan has a 20-year term, including a five-year grace period.  “Expansion of inter-regional connectivity enables bulk power transfer to ... Read More »

UK’s CDC Group plans renewable energy platform for India, South Asian countries

According to reports, CDC Group Plc, the UK government’s development finance institution, is planning to set up its own renewable energy platform focussed on east India and neighbouring countries. This dedicated platform will focus on eastern states such as Bihar, Odisha and Assam, and also set up clean energy projects in neighbouring countries such as Bangladesh, Nepal and Myanmar. “We can confirm that in the coming months, we are planning to launch a new independent renewable energy company, that will ... Read More »

Solairedirect raises Rs 675 crore from IDFC Bank

According to reports, IDFC Bank is creating a renewable energy niche in loans, sanctioning Rs 675 crore to a Rajasthan-based solar power project owned by French company Solairedirect. The deal could be an early sign of a revival in lending in India, especially after growth in industry credit hit a 62-year low of 5.1 per cent year-on-year for 2016, down from 10.6 per cent last year. Emails sent to IDFC Bank remained unanswered at the time of going to print. Gaurav ... Read More »

Wind power tariff likely to fall below Rs 4.5/unit

According to reports, after a drastic drop in solar tariff to Rs 2.97 per unit, the wind power rates may now fall to below Rs 4.5 per unit in an ongoing auction for 1000 MW capacities. The tariff based competitive bidding is being conducted today by the state-run Solar Energy Corporation of India for wind power capacities totalling 1000 MW for supply of power to non-windy states. “The wind power tariff quoted by the some of bidders has come down ... Read More »

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