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Renewable energy push takes a hit on random back-down instructions by discoms

According to reports, the National Democratic Alliance (NDA) government’s aggressive renewable energy push that aims to ramp up the share of green power in the country’s electricity supply mix from the current seven per cent to nearly 20 per cent by 2022, is getting stonewalled across a number of states. State-owned power distribution utilities (discoms) in states such as Rajasthan and Tamil Nadu are reported to be curtailing solar and wind power generation, as well as randomly issuing backing down ... Read More »

‘Competitive bidding positive for wind industry in the long run’

According to reports, competitive bidding in the wind power segment, which has replaced the earlier feed-in tariffs where a fixed price was ensured for power producers, may put temporary pressure on wind sector players, but will have positive impact in the long term. The first wind auction conducted in February led to a fall in tariff to ₹3.46 per unit — down 16.8 per cent from the lowest prevailing feed-in tariff of ₹4.16 among the windy States, India Ratings (Ind-Ra) said ... Read More »

Wind Projects in Peril as Indian States Rethink Purchases

According to reports, two Indian states at the forefront of adding renewables to their power mix are backtracking on agreements for at least one gigawatt of wind projects and are seeking lower prices, potentially dealing a blow to Prime Minister Narendra Modi’s green energy goals. The southern states of Andhra Pradesh and Karnataka, which account for a quarter of the country’s installed wind capacity, are renegotiating or scrapping purchase agreements with developers and want power at prices lower than what ... Read More »

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 »

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