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Daily Archives: April 11, 2017

Mytrah Energy in talks to raise Rs1,800 crore from Piramal Capital SFG

According to reports, Hyderabad-based renewable energy producer Mytrah Energy India Pvt. Ltd is in advanced talks to raise Rs1,800 crore in structured debt funding from Piramal Capital’s structured finance group (SFG), two people directly aware of the development said on condition of anonymity. According to them, the deal is at a term-sheet level and will be one of the largest structured debt investments by Piramal group till date. Mytrah plans to use the funds to refinance its debt and provide ... Read More »

Macquarie to acquire solar power assets of Hindustan Powerprojects in $600 mn deal

According to reports, an infrastructure fund of Australia’s Macquarie Group Ltd has agreed to buy about 330 megawatts (MW) of operational solar assets from power producer Hindustan Powerprojects Pvt. Ltd for an enterprise value of $600 million, said two people familiar with the discussions. The deal, which will give Macquarie an entry into India’s renewable energy sector, is in an advanced stage of completion and an agreement has been signed, these people said, asking not to be named as the ... Read More »

Tata Cleantech Capital funds the largest private solar rooftop system in Mumbai

According to reports, Tata Cleantech Capital Limited (TCCL) – a joint venture between Tata Capital Limited and International Finance Corporation (IFC), has funded the solar rooftop project at the National Centre for Performing Arts (NCPA), established and installed by Avesta Solar Private Limited (ASPL), in Mumbai. TCCL, the sole lender, disbursed a total of Rs. 2.36 crore to this project; the largest solar rooftop project in Mumbai. Due to the close proximity to the sea, the team had to anticipate ... Read More »

SB Energy commissions 350 MW solar project in Andhra Pradesh

According to reports, SB Energy Holdings today announced the commencement of commercial operation of its 350 MW solar power plant in Andhra Pradesh. “It is the first operational solar power plant delivered under the Solar Parks scheme of the Jawaharlal Nehru National Solar Mission,” SB Energy Holdings Ltd said in a statement. The plant commenced operations on March 29, 2017 and was completed 51 days ahead of the scheduled date agreed in the PPA (power purchase agreement), the statement added. ... Read More »

Payment delays, lower tariffs hurt renewable energy sector: Mercom study

According to reports, payment delays by power distribution companies (Discoms) is posing a major challenge to the growth of the renewable energy sector, as it chokes liquidity and creates roadblocks in further funding of projects. While in some states the delay has been up to four months, the Maharashtra State Electricity Distribution Company Limited (MSEDCL) has stoppped buying power from wind power generators for the past three years, resulting in heavy losses, said a report. Many developers completely rely on ... Read More »

Ministry of New and Renewable Energy plans to push auction route for wind power

According to reports, the ministry of new and renewable energy (MNRE) has proposed to allow state-owned power distribution companies (discoms) to conduct reverse auctions for procuring wind power. The move, an effort to promote the competitive bidding mechanism,is likely to encourage state-owned discoms to award wind projects through a bidding route, instead of feed-in tariffs (FiT) — a cost-based compensation system. Currently, states buy wind power from the developers at various FiTs, which are in the range of Rs 4.16 ... Read More »

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