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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 »

KCT Group looks to sell off renewable energy portfolio

According to reports, KCT Group, the Vikram Thapar-led arm of the business house founded by Karam Chand Thapar, is exploring the sale of its renewable energy assets of 103 megawatts (MW), said two people aware of the development. Founded in 1929 as a coal mining company, the KCT Group currently has a diversified portfolio of businesses with interests in sectors ranging from coal, infrastructure, real estate, manufacturing and aquaculture. “There is a strong merger and acquisition (M&A) wave in the ... Read More »

The renewable energy revolution in India

According to reports, India has launched the world’s largest renewable energy expansion programme and aims to achieve 175 GW capacity of energy by 2022. The country is taking national actions plans to abide by its duty under the Paris Agreement to keep the rising temperatures of the Earth well below 2 degree Celsius. Tamil Nadu and Rajasthan are leading the renewable energy sector by generating electricity using wind farms. Rajasthan tops the list for solar and wind energy with a total ... Read More »

Renewable energy industry wants cross subsidy waived

According to reports, renewable energy industry representatives have sought the waiving of a cross subsidy surcharge (CSS) levied by States on transmission. In a letter to Minister of State (Independent Charge) for Power, Coal, Renewable Energy and Mines, Piyush Goyal, the Renewable Energy Welfare Society (REWS) has said that CSS is the main inhibitor for small investors to play their role in India’s clean energy vision. The letter noted that CSS is more than ₹3 per unit in some States ... Read More »

MPs pitch for more focus on renewable sources of energy

According to reports, opposition lawmakers today asked the government to put adequate focus on renewable sources of energy to cut dependency on fossil fuel, saying time has come to take the matter seriously. During a discussion on the India Institute of Petroleum and Energy Bill, 2017 in the Lok Sabha, a number of members from the Opposition parties said a majority of leading economies globally are moving towards biol-fuels and renewable sources of energy and India must take similar initiative. The bill provides ... Read More »

CLP plans to add scale to India arm through renewable energy, transmission projects

According to reports, Hong Kong-headquartered utility CLP has plans to add scale to its India arm, driven by renewable energy and transmission projects, and list the company on bourses here in the next two to three years. CLP India, one of the first foreign companies to enter the Indian power sector, has invested more than Rs. 14,500 crore since it set up shop here in 2002. The company has faced challenges, much like its peers, but is optimistic about the Indian growth story . It recently moved its headquarters ... Read More »

The tyranny of energy uncertainty

According to reports, two states, pioneers in renewable energy, Tamil Nadu and Rajasthan, were in the news recently for contrasting reasons, and neither was about tariffs. One set a new national record for renewable energy capacity dispatched, and the other reported that the industry was in distress due to widespread back-down wherein discoms have been unplugging from the grid, delaying payments and shying away from power purchase agreements. The nature of the headlines inspired by renewable energy is changing. Its rapid ... Read More »

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