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Daily Archives: June 7, 2017

Govt okays IREDAs IPO to boost clean energy

According to reports, the government today approved listing of state-run Indian Renewable Energy Development Agency (IREDA) to help the clean energy lender mobilise more funds for renewable projects. “The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given its approval to issue 13,90,00,000 fresh equity shares of Indian Renewable Energy Development Agency (IREDA) of Rs 10 each to the public on book-building basis through the IPO (initial public offer),” an official statement said. The listing of ... Read More »

Tangedco to procure wind power through reverse auction

According to reports, the Tamil Nadu Generation and Distribution Company Limited (Tangedco) plans to procure 500 MW of wind power through reverse auction with a benchmark rate of Rs. 3.46 per unit. The State utility has filed a petition before the Tamil Nadu Electricity Regulatory Commission seeking a nod for the reverse auction. The plan is to procure 500 MW from wind power projects that have a minimum capacity of 25 MW. If the plan comes through, Tamil Nadu would ... Read More »

REC says over 10% lending this financial year will be in renewables

According to reports, as the country ‘s energy sector increases focus on renewable options, one of the main power finance companies, Rural Electrification Corporation (REC), expects its lending to the industry to grow significantly in the current financial year. “More than 10 per cent of our total lending this financial year would be in the renewable energy sector,” said P V Ramesh, chairman and managing director, REC. In 2016-2017, eight per cent of the total lending activity was towards the ... Read More »

Power Finance Corporation to revamp its lending portfolio

According to reports, Power sector’s key financier Power Finance Corporation (PFC) is looking to shift its focus from conventional energy to other upcoming sectors such as transmission, last mile distribution infrastructure and renewable energy. Lagging power demand and rising non-performing assets (NPAs) in the thermal power sector has pushed it to revamp its lending portfolio. “Our funding for last mile transmission and distribution projects in states is increasing. The ‘24X7 Power for all’ scheme alone envisages an investment of Rs ... Read More »

KERC expediting solar projects as demand surges in Karnataka

According to reports, taking cue from Prime Minster Narendra Modi’s ardent appeal in Paris Climate Conference in 2015 to make India a solar-powered nation, the Karnataka Electricity Regulatory Commission (KERC) has taken an initiative to provide a predictable long-tem tariff for renewable energy projects. During the Conference, India set an ambitious target of achieving 100 gigawatt solar power by 2022, hence the state governments are working in tandem to fulfil this vision. In lieu of this, the KERC organised hearings, ... Read More »

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