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Daily Archives: May 2, 2017

Actis to invest $500 million in green energy platform Solenergi

According to reports, Private equity fund Actis LLP plans to invest around $500 million in its second green energy platform in India, Solenergi Power Pvt. Ltd, two people aware of the development said. Solenergi is among the successful bidders for the Rewa solar power project in Madhya Pradesh. “Actis recently completed the fund round for its fourth fund. Of this, it plans to deploy around $500 million for Solenergi Power,” said one of the two people cited above, requesting anonymity. ... Read More »

Brazilian company WEG to set up wind turbine manufacturing facility in India

According to reports, WEG, a Brazilian company, has announced the launch of a wind turbine plant in India. The manufacturing facility will come up at Hosur, Tamil Nadu, where WEG has been producing motors and generators since 2011. Joao Paulo Gulaberto de Silva, Director-Wind Power, WEG Energy, told BusinessLine that the plant will have a capacity to produce 250 MW of machines (120 turbines) a year. The company expects to sell its first 2.1 MW turbine in 2018. Currently, the ... Read More »

Global pension funds scout for deals in India’s solar power sector

According to reports, some of the world’s biggest pension funds, seeking long-term returns on green investments, are scouting for deals in India’s solar power sector, where Prime Minister Narendra Modi is targeting $100 billion in investment in the next five years. Power demand in Asia’s third-largest economy is set to surge as the economy grows and more people move into the cities. India estimates peak electricity demand will more than quadruple in the next two decades to 690 gigawatt (GW), ... Read More »

Rayalaseema poised for solar energy revolution

According to reports, with huge tracts of an arid landscape and a maximum number of sunny days throughout the year compared to the coastal districts, the Rayalaseema region is poised for a revolution of sorts in the generation of solar energy with the 1,000 MW Ultra Mega Solar Park (UMSP) at Orvakal in Kurnool district taking the lead by producing 900 MW. It is followed by the UMSP at N.P. Kunta in Anantapur district which is generating 250 MW of ... Read More »

When consultants become entrepreneurs in solar power sector

According to reports, the opportunity to build sustainable energy solutions and the ambitious plans of the centre lured Rupesh Agarwal into the solar energy sector, after he had spent more than 17 years in management consulting. Agarwal, India head of UK-based Lightsource Renewable Energy, one of the world’s largest solar photovoltaic energy generators, was earlier instrumental in setting up and leading renewable energy practice at consulting firms EY and BDO. Like Agarwal, several professionals with a background in consulting have ... Read More »

Tulsi Tanti: Suzlon on verge of exiting corporate debt restructuring

According to reports, amid increasing flow of investments in the renewable power ($14 billion in FY17), and expectations of 50 GW wind energy capacity addition in the next 5 years in the country, Tulsi Tanti – the chairman and managing director of the Suzlon Group, believes that the tailwinds in the sector will help the company to move ahead. It expects to to exit corporate debt restructuring process in the next 3 months. Suzlon currently has more than 35% of ... Read More »

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