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Over threefold jump in India’s solar capacity in past two years: Piyush Goyal

According to reports,  India’s total installed solar power generation capacity grew over threefold to 13,652 Megawatt (MW) over the past two fiscal years, power, coal, renewable energy and mines minister Piyush Goyalsaid today. “The cumulative solar energy capacity installed as on 31 July 2017 is 13,652 MW while the same at the end of 2014-15 was 3,743.97 MW,” Goyal said in a written reply in Lok Sabha. “The States of Andhra Pradesh, Gujarat, Karnataka, Madhya Pradesh, Rajasthan, Tamil Nadu and Telangana have crossed the solar installed ... Read More »

Sanghvi warning may hit other wind firms

According to reports, Sanghvi Movers has cut its capex for FY18 and warned of a bleak outlook for wind energy equipment companies in the coming months due to tariff revisions being planned by various state governments. “Due to change in business conditions and more particularly government of India’s policies towards wind energy sector, we expect slowdown in our business volume and therefore expect decrease in the turnover and profitability of our company during the current financial year,” said Sanghvi Movers, in an ... Read More »

India adds 4.8 GW of solar capacity in H1

According to reports, India has added 4,765 MW of solar power generation in the first half of 2017, surpassing the 4,313 MW installed during 2016. Of this, 1,869 MW was added in the second quarter of 2017, according to Mercom India Research. While large-scale solar installations aggregated to 1,639 MW in Q2 2017, rooftop installations accounted for 230 MW. In the first half of 2017, large-scale solar installations made up 4,290 MW (90 per cent) and rooftop installations totalled 475 ... Read More »

Amplus, Honda Motorcycles inks power purchase pact

According to reports, Amplus Energy Solutions today said it has inked a Power Purchase Agreement (PPA) deal with Honda Motorcycle and Scooter India to provide 30MW solar energy. The solar power will be provided to Honda’s Narsapura, Karnataka plant. Amplus will supply power from its solar park in Chitradurga, which is a 42 MW plant, Amplus Energy Solutions said in a statement. According to the statement, Honda Motorcycles will meet 85 per cent of plant’s energy needs through solar power supplied by Amplus Energy. By switching to solar power, Honda ... Read More »

UK, Indian varsities to build 5 solar power stations in India

According to reports, a consortium of 12 British and Indian universities, including OxfordBSE 4.88 % and Cambridge, has received a 7-million-pound grant from the UK government to build five self-sufficient solar-powered buildings in remote Indian villages. The grant is part of a new solar project ‘SUNRISE’ aimed at developing printed photovoltaic cells and new manufacturing processes which can be used to make solar energy products in India. These will then be integrated into buildings in at least five villages of ... Read More »

Nettlinx to pick up controlling stake in Sri Venkateswara Green Power

According to reports, Hyderabad-based internet infrastructure company Nettlinx Ltd said it is acquiring a 51% stake in Sri Venkateswara Green Power Projects, marking its entry into the growing renewable energy sector. The target firm is developing a Rs 192 crore renewable power project in Telangana state. As part of the transaction, Nettlinx will invest Rs 57.6 crore and Sri Venkateswara Green Power Projects will invest Rs 28.22 crore for the development of the project, Nettlinx said in a statement. The ... Read More »

Inox Wind consolidated net loss of Rs.39 crore in Q1FY18, vs net profit of Rs. 11.8 crore in Q1FY17

Inox Wind standalone revenue for the quarter came in at Rs. 105.9 crore, registering 75.6% yoy decline. EBITDA for the quarter reported loss of Rs. 13.42 crore vs EBITDA profit of Rs.45.5 crore in corresponding quarter previous year Further poor operating performance led to net loss of Rs.39 crore in Q1FY18 vs net profit of Rs.11.81 crore in Q1FY17. The company sees this as a temprory downtrurn caused due to change in FIT based market regime to auction based  market ... Read More »

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