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Daily Archives: March 27, 2017

Temasek-backed Sembcorp set to pump in $600 mn in India power arm

According to reports, Sembcorp Industries Ltd, promoted by Singapore’s sovereign wealth fund Temasek Holdings Private Ltd, is set to infuse fresh capital of about $600 million into its power business in India, Sembcorp Gayatri Power Ltd (SGPL), which is operating a 1,320 megawatt (MW) thermal power plant in Andhra Pradesh. The capital infusion, in the nature of fully guaranteed debt from the parent group, will lower the existing domestic debt in the project from about $1,050 million to about $450 ... Read More »

Greenko Energy raises $155 million from GIC, Abu Dhabi Investment Authority

According to reports, renewable energy firm Greenko Energy Holdings has on Monday announced raising $155m (nearly Rs 1,010 crore) from global investment firm GIC and an arm of Abu Dhabi Investment Authority (ADIA). In a statement, Greenko said it has signed a definitive agreement with investors wherein GIC is investing $123.9 million, while the balance $31.1 million is being invested by the ADIA’s subsidiary. Following this fresh investment, GIC continues to be the majority shareholder. Greenko said it would deploy ... Read More »

Auction for rooftop solar projects deferred again

According to reports, State-run Solar Energy Corp. of India (SECI) has deferred auction for the 1-gigawatt (GW) rooftop solar projects tender for the fourth time in the past three-four months, a move which has highlighted the complexities of the business. The bidding process for the largest ever rooftop solar tender in the country has now been extended to 17 April from 20 March, SECI said on its website. The public sector undertaking (PSU) had prepared to invite bids in December, ... Read More »

China’s top solar module maker GCL-Poly Energy eyes India play

According to reports, China’s largest solar equipment maker GCL-Poly Energy Holdings Ltd plans to invest in India, attracted by the nation’s emerging green economy. As part of its India entry plan, GCL-Poly Energy Holdings Ltd is in talks with Subhash Chandra’s Essel Group to set up a solar module manufacturing facility. The Hong Kong-listed firm, which acquired bankrupt SunEdison’s solar material business last year, also plans to develop solar power projects in India. “GCL-Poly plans to set up a solar power ... Read More »

Higher power purchase by states must for India to meet solar targets: Mercom

According to reports, State power utilities need to buy more green power if India has to meet its solar installation targets, said analysts from Mercom Capital Group. “Renewable power purchase obligation (RPO) is the single most important policy driving renewable energy installations and achievement of an aggressive goal of installing 175 GW by 2022 including 100GW of solar power capacity,” the analysts said. Over the past three years, as states scrambled to fulfill their RPOs, cumulative installation figures for solar and ... Read More »

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