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Yearly Archives: 2017

Actis in talks to promote new renewable energy platform, after Ostro success

According to reports, inspired by the success of its existing Indian renewable energy platform, Ostro Energy, global private equity fund Actis Llp now plans to promote another green energy platform. Accordingly, it has initiated talks with SolarArise India Projects Pvt. Ltd. In the process the global private equity fund is signalling that it sees enormous opportunity in the emerging green economy in the country. Ostro Energy is among the energy platforms that Actis has created globally, following Globeleq Meso America ... Read More »

Madhya Pradesh woos global investors with mega solar project

According to reports, the world’s largest solar power plant, coming up in Madhya Pradesh, has caught the interest of clean energy companies from around the world. Twenty leading firms, including Italy’s Enel Green Power SpA, SoftBank-promoted SBG Cleantech Ltd, Canadian Solar Energy Holding, Singapore3 Pte Ltd and Green Infra Wind Power Project Ltd, promoted by Sembcorp Industries Ltd, have expressed interest. “The 20 firms will bid for three units of 250 megawatts (MW) each that make up the project in ... Read More »

‘States need to align policy to meet renewable energy targets’

According to reports, state governments need to align their policies to meet the country’s ambitious renewable energy targets, according to Rajeev Kapoor, Secretary, Ministry of New and Renewable Energy. Speaking at the award ceremony for good performance under the Off Grid clean energy programme, he said, “the mechanism for compliance of Renewable Purchase Obligations (RPO) needs to be strengthened. There is a need for standardised guidelines across States for renewable energy. While minor deviations can be there to suit the ... Read More »

12.88 lakh RECs traded in January: IEX

According to reports, power exchange IEX today said that a total of 12.88 lakh renewable energy certificates (RECs) were traded in January. “A total of 12.88 lakh RECs were traded in the REC trading session held on January 25, 2017 at IEX,” it said in a statement. Power distribution companies as well as open access and captive consumers are under obligation to buy RECs from renewable energy producers under RPO mandated by central/state regulatory commissions. RECs are aimed at providing ... Read More »

NEXTracker to invest $4-5 m to set up manufacturing facility

According to reports, US-based solar tracker and energy storage giant NEXTracker will be setting up a 500 MW manufacturing facility in North India, according to top company representatives. Speaking to BusinessLine, Vice President, Emerging Markets, NEXTracker, Nava Akkeneni, said: “The project plan is in the final stages of completion. We envisage an investment of $4-5 million for the project.” The company will be making solar trackers for the domestic as well as export markets. These trackers are critical in solar ... Read More »

Gujarat discoms fail to meet purchase target for renewable power

According to reports, Gujarat Urja Vikas Nigam Ltd (GUVNL) affiliated four distribution companies (discoms) fell short of purchasing required renewable energy in 2015-16 on account of low supply of power from wind and other renewable energy sources. Under the Renewable Purchase Obligation (RPO), a distribution company is mandated to buy electricity from renewable energy at a defined minimum percentage of the total consumption of its consumers. The RPO target for 2015-16 was 9% (7% from wind, 1.5% from solar and ... Read More »

Orient Green Power enters into SPA

According to reports, Orient Green Power Company,  has entered into a Share Purchase Agreement with Sindicatum Captive Energy Singapore Pte., at a consideration of Rs 81 crore. The stock of the company in the last one year has fallen by 21.63%. Four Mutual Fund houses have invested in the stock of the company, which are Reliance, Edelweiss, Escorts and Sahara Mutual Fund. The company is the largest operator and developer of renewable energy power plants in India, which are based on ... Read More »

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