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India to raise over $350 million in bonds to fund clean energy programs

According to reports, India’s cabinet on Wednesday approved a proposal to raise over $350 million from a bond sale to fund its renewable energy development schemes in a bid to achieve its ambitious clean energy goals. Prime Minister Narendra Modi has set a target of raising India’s renewable energy generating capacity to 175 gigawatts by 2022, requiring about $100 billion in investments, as part of the fight against climate change by the world’s third-biggest greenhouse gas emitter and to supply ... Read More »

Adani Green Energy defers its polysilicon manufacture plans

According to reports, Adani Green Energy has deferred its plans for manufacturing polysilicon, the basic material of solar panels and modules, in absence of promised incentives from the government. Adani’s 1,200 MW panel-cum-module manufacturing unit is the largest in the country but is facing a huge hurdle. “The module manufacturing unit is running at only 40% capacity because of lack of demand,” said a person close to the development. “All the investment has been made,” said the source. “The company is ... Read More »

Gurgaon hospital, mini secretariat to go solar

According to reports, the mini secretariat and the general hospital in Civil Lines are going solar.As soon as the energy audit being conducted by the state government in the two buildings is completed, energy-efficient electrical devices will be installed there in a bid to conserve energy. Department of Renewable Energy and the electrical wing of public works department (PWD) are conducting a joint survey at the six-storey mini secretariat that houses the offices of district administration, and the general hospital ... Read More »

India should accelerate, not slow down, solar adoption

According to reports, Swaminathan Aiyar recently argued in a column that an accelerated adoption of solar energy by India could bring down some thermal power stations and hurt their financiers, further burden inefficient power distribution companies, and ultimately bankrupt some of the expensive solar plants too. His prescription: slow down the solar mission, let polluting thermal plants and their financiers gain while other countries sweat, through their faster adoption and innovation, to make solar energy cheaper and more efficient so that ... Read More »

Power Ministry Proposes Compensation For Grid Curtailment; Positive For Renewables

According to reports, The government has proposed a compensation mechanism for existing renewable energy projects, which will protect the cash flows to an extent from grid curtailments says India Ratings and Research. India Ratings believes that, if the proposal is adopted this will also ensure a favourable operational environment for renewable energy projects and will be positive for wind and solar energy developers. The absence of clarity on two possible reasons for grid curtailment – “low system demand” and “grid ... Read More »

18% tax under GST for solar modules to increase project costs: report

According to reports, the GST Council’s decision to set 18% tax rate for solar modules as compared to a present effective rate of zero will increase overall project costs by about 12%, consulting firm Bridge to India said in a note on Monday. Bridge to India also said that the new rates would hit more than 10 gigawatt of ongoing utility scale solar power projects and pose a threat to their viability. The firm, however, clarified that they believe long-term ... Read More »

Despite subsidy, Indian cities slacking on solar rooftop system

According to reports, despite a substantial subsidy offered by the government, installation of solar rooftop systems has been “dismal” in metros including Delhi and Mumbai, an analysis by a green body on Tuesday said. Rooftop solar systems are those in which electricity is generated by installing solar panels on rooftops of residential or commercial buildings. Greenpeace India in its new analysis – ‘Indian cities slacking on rooftop solar’ said that despite policies and net metering guidelines in several states, installation ... Read More »

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