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Daily Archives: July 30, 2017

Reverse auction of second tranche of 1 GW wind power projects delayed

According to reports, the reverse auction for the second tranche of 1,000 MW wind power projects, for which bids of more than 2,800 MW have already been received, will not be conducted before the second half of August, sources told FE. The auctions will now take place only after the Central Electricity Regulatory Commission (CERC) clarifies the procedure for allocation of transmission connectivity. The CERC ruling will also have a bearing on the aggression to be shown by the bidders. ... Read More »

IREDA gets RBI nod for masala bonds

According to reports, the Indian Renewable Energy Development Agency (IREDA) has received the Reserve Bank of India (RBI)’s approval for its masala bond issuance, two sources confirmed to FE. “The validity of the approval stands for six months,” they said. The IREDA is looking to raise $300 million via green masala bond issuance. Another person pointed out that the central bank has indicated that approvals from any other authority will have to be separately taken. The IREDA intends to use the ... Read More »

Rs 57 lakh non-payment case: NCLAT quashes Inox Wind insolvency proceedings

According to reports, the National Company Law Appellate Tribunal (NCLAT) has directed NCLT Chandigarh bench to close insolvency proceedings against Inox Wind. “In the result, appointment of Interim Resolution Professional, order declaring moratorium, freezing of account and all other order passed” have been declared illegal, the company said in a stock exchange filing on Thursday. NCLT’s Chandigarh bench had ordered to initiate insolvency proceedings in response to the plea made by Jeena regarding non-payment of dues worth Rs 57 lakh. ... Read More »

IFC to invest up to $6 billion on energy initiatives in India

According to reports, International Finance Corporation (IFC), a member of the World Bank Group, said on Tuesday that it will invest up to $6 billion in the next five years on various sustainable and renewable energy programmes in India, of which 20% will go in building eco-friendly or green homes in the country, said a top company executive. Jun Zhang, country head, IFC India said affordable and sustainable homes is a key part of the organization’s strategy in India. In ... Read More »

ISA to float global tender for 5 lakh solar pumps before December

According to reports,  International Solar Alliance (ISA) plans to come out with a global tender for price discovery of 5 lakh solar pumps before December and presumed the prices of solar pumps will come down, said Upendra Tripathy, director general, International Solar Alliance at an Assocham event held in New Delhi. The current price of solar pumps is about $10,000 globally on an average. On the bio mass segment in the country, Tripathy said the initiative deserves tax exemption and tax concession credit. Inaugurating an Assocham International Conference ... Read More »

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