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Author Archives: vineethv

GOVT READY TO IDENTIFY MORE AREAS FOR RENEWABLE ENERGY PROJECTS

According to reports, the Chhattisgarh Government will identify more potentially rich areas for installation of renewable energy projects and carry out advance planning for evacuation and transmission of power in an effective and coordinated manner. The commitment was made by the State to the Union Ministry of Power as per a document presented by Union Ministry of Power in a Conference of Power, Renewable Energy and Mines held on May 3 and 4 in New Delhi this year. A total ... Read More »

‘Green energy can create 58,000 jobs in India by 2022’

According to reports, employment opportunities in India’s renewable energy sector are going to almost double by 2022, according to the International Renewable Energy Agency (IRENA). “The Council on Energy Environment and Water and the National Research Development Corporation project that utility and park scale PV (photovoltaic) projects through 2022 could create 58,000 direct jobs (in India),” IRENA said in its Annual Review 2017 for Renewable Energy and Jobs. IRENA estimates that employment in India’s renewable energy sector has grown to ... Read More »

India aims to expand renewable energy capacities to record levels

According to reports, India has taken the lead in the renewable energy sector in the world with solar power at the centre of its renewable policy framework. The country is aiming to expand its renewable energy capacities to a record level making it the world’s largest green energy producer nation. Union Minister of State with Independent Charge for Power and Renewable Energy, Piyush Goyal underlined India’s ambitious goals in the renewable energy sector. Speaking on a seminar on Africa India ... Read More »

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 »

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