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India set for Paris climate meet with grand plans on renewables

According to reports, seeking a grand alliance among 122 nations to pursue solar energy, India is set to make a significant impact at the 12-day climate change conference in Paris, with Prime Minister Narendra Modi himself unveiling the country’s position on Monday, the opening day. The Indian prime minister will be among the 147 heads of state and government who have, thus far, consented to attend the event – officially called the 21st Session of the Conference of Parties under ... Read More »

Govt. bats for revising RPO target to 10% by 2022

According to reports, the government is looking at increasing renewable purchase obligation (RPO) targets from 3 per cent to 10 per cent so as to meet the one lakh MW solar capacity by 2022. Under the RPO, distribution companies (discoms) are mandated to purchase a certain amount of their power from renewable sources. The current tariff policy mentions separate percentages of RPO for solar and non-solar sources. “If we have to achieve the target of 1,00,000 MW of green power, ... Read More »

ABB showcases its multi-source microgrid

According to reports, ABB, a power and automation technology company, showcased its first full-fledged multi-source microgrid at the global customer fair — Automation and Power World (APW). The three-day fair, organised in New Delhi, closes on November 6. The microgrid is equipped with a battery bank for power storage and balancing, and can function independently or as a supplement to the main grid. Powered by solar and wind, it can generate up to 125 kilovolt ampere (kVA) — enough clean ... Read More »

India 5th on doing business in clean energy

According to reports, considering India’s notable policy reforms in the renewable energy sector, Bloomberg New Energy Finance has ranked the country at fifth place on a list of 30 countries on ease of doing business in the renewable energy space. The ranking done by Bloomberg New Energy Finance’s annual Climatescope report indicates that clean energy’s centre of gravity is shifting from developed to developing countries. The report ranked China in the first place, followed by Chile, Brazil, South Africa and ... Read More »

India to launch $1-b equity fund for renewable energy

According to reports, India proposes to launch a $1-billion equity fund, with seed capital from public sector units, to support renewable energy companies. Addressing a ‘Talkathon’ ahead of the 2015 Paris Climate Conference or COP-21, Piyush Goyal Minister of State (Independent Charge) Power, Coal and New & Renewable Energy, said, “While we hope the Paris talks will help developed countries provide long-tenor low-cost funding, we are also preparing ourselves to see how we can finance our renewable energy thrust.” “We ... Read More »

Renewable projects more attractive in India: PwC-Mytrah

According to reports, renewable energy projects are financially more attractive and market-led in India as compared to other countries, says a PwC-Mytrah report on clean energy sector. India’s renewable energy development is commercially led and demand driven, unlike in Europe which offers subsidies or bears losses incurred in displacing existing coal or nuclear power, it said. “The renewable energy sector offers not just a major growth opportunity but one that is financially attractive and market-led in relation to other countries,” ... Read More »

IDBI Bank gains after raising $350 million from issue of Green Bonds

According to reports, IDBI Bank had launched a US dollar denominated Green Bond issue having a size of $350 million and tenure of 5 years on 23 November 2015. The issue received an overwhelming response from investors and was subscribed by 3 times. The issue was made under the $5 billion medium term note (MTN) programme listed on the Singapore Stock Exchange. The issue had an initial price guidance of 270 basis points (bps) above 5 year treasury yield. Final ... Read More »

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