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Green Investment Bank may invest in Lightsource India

According to reports, in a sign of growing overseas investor interest in the Indian clean energy space, UK Green Investment Bank Plc. (GIB) plans to become an anchor investor in the Indian operations of UK-based Lightsource Renewable Energy. This comes in the backdrop of a Macquarie-led consortium agreed to acquire GIB from the UK government for £2.3 billion last week. Lightsource Renewable Energy is among the largest global solar power project developers and announced its plans to develop 1,000 megawatt ... Read More »

Hero Future Energies CEO expects tariffs to drop below ₹3

According to reports, the substantial drop in solar power tariff in recent times is unlikely to impact viability of the projects as the project and finance costs too have declined, says Hero Future Energies Pvt. Ltd. CEO Sunil Jain. “People have concerns whether lower tariffs are viable or not. I believe these tariffs are viable as the project and finance costs also have fallen substantially,” he said in an interaction with journalists at a CII conference on rooftop solar programme ... Read More »

Tata Cleantech Capital eyes Rs 5,500 cr asset book by FY19

According to reports, Tata Cleantech Capital (TCCL) is looking at growing its asset book to around Rs 5,500 crore by fiscal 2019, with nearly USD 120 billion debt funds expected to flow into the renewable energy space in the next five years. TCCL, a joint venture between Tata Capital and International Finance Corporation, currently has an asset/loan book size of Rs 2,400 crore. It has funded over 80 renewable energy projects, including wind, solar and small hydro and biomass, with ... Read More »

Foreign investors giving M&A deals in India’s renewable energy sector a miss

According to reports, foreign strategic investors have largely stayed away from the flurry of deal-making in India’s renewable energy sector, preferring instead to build from the ground up. Out of the $2.32 billion worth of mergers and acquisitions (M&As) in India’s renewable energy sector in the last 15 months, foreign companies have bought assets worth just $290.6 million, while Indian companies have acquired $2.03 billion worth of assets, according to data from Thomson Reuters. Among the larger deals in this ... Read More »

Sale of RE certificates up 31% to 64.88 lakh

According to reports, the sale of renewable energy certificates (RECs) has jumped by 31 per cent to 64.88 lakh in 2016-17 as compared to 49.55 lakh in previous fiscal indicating improvement in compliance of renewable purchase obligation. Power distribution companies as well as open access and captive consumers have to buy RECs from renewable energy producers under renewable purchase obligations (RPOs) as mandated by central and state regulatory commissions. RECs are aimed at providing an easier avenue for various entities, ... Read More »

Rural Electrification eyes Rs10,000 crore renewables lending push

According to reports, Rural Electrification Corp. (REC), a state-owned backer of India’s power sector, plans to lend billions of rupees to clean-energy projects and equipment makers this fiscal year as part of an expanded push into renewables that will also see it issue green bonds overseas. The non-banking financial company is aiming to triple its clean-energy lending and is expecting to set aside nearly Rs10,000 crore ($1.5 billion) for renewable energy in the financial year ending 31 March, chairman P.V. ... Read More »

Green energy firms explore portfolio mergers to aid sell-off

According to reports, India’s clean energy project developers are in talks to merge their portfolios as part of a strategy to achieve scale for selling the assets to overseas investors scouting for large investment opportunities in the country. A case in point is Ravi Jhunjhunwala’s LNJ Bhilwara Group, which is in talks with rivals to merge its wind energy portfolio. Another company following this strategy is Continuum Wind Energy Pte Ltd. Mint reported on 20 February about LNJ Bhilwara Group ... Read More »

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