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Clean Energy Fund to give cheaper loans

According to reports, the Indian renewable energy industry has for long sought cheaper finance from the National Clean Energy Fund (NCEF), and now it looks like its wish will be granted. The Renewable Energy Act, which in the works, is likely to mandate that 50 per cent of the balance in NCEF will go to funding renewable energy projects, according to G M Pillai, who was a member of a six-member sub-committee that drafted the law. The draft is currently ... Read More »

REC tweaks norms to lend to renewable energy projects

According to reports, Rural Electrification Corporation, the government-owned power sector financier, has just tweaked its lending norms to suit wind and solar projects, the company’s Executive Director, Ashok Awasthi, said today. “We have significantly changed our guidelines for lending to renewable energy sector,” Awasthi said at a conference on Green Energy here, organised by the Confederation of Indian Industry. He mentioned four broad changes in REC’s lending norms for renewable energy projects. First, the moratorium period has been increased from ... Read More »

Indian developers flock to project bonds to fund infrastructure

According to reports, at least a dozen Indian infrastructure developers are turning to the local bond market to cut funding costs, in an early sign that institutional investors are warming to project financings. Infrastructure-related bonds in the works include a long-awaited debut under an Asian Development Bank-backed credit-enhancement scheme, as well as several long-term deals with innovative structures. A flurry of successful refinancings will raise hopes that India’s underdeveloped capital markets can help ease the country’s infrastructure bottlenecks by offering ... Read More »

Green Energy Corridor to avert Massive Loss in Transmission

According to reports, one major issue plaguing the Renewable Energy (RE) companies is wastage of billions of units of power during transmission from generator to grid. In 2014-2015, 3.1 billion units went to waste, when it could have supplied power to a state for days. This should end, if the 175 GW as envisioned by the government is to materialise, say experts. The issue of transmission loss was raised at the 14th Green Power Summit organised by the Confederation of ... Read More »

National Clean Energy fund reaches Rs 17,000 cr mark, but not much allocated to renewable energy sector: experts

According to reports, while the National Clean Energy Fund (NCEF) has crossed Rs 17,000 crore, not much has been allocated to the Renewable Energy sector, says industry expert. In his address at Confederation of Indian Industry (CII’s) Green Power 2015, Ramesh Kymal, chairman, Renewable Energy Council – CII – Godrej GBC and Chairman and Managing Director, Gamesa India said that after raising the coal cess to Rs 200 per tonne NCEF has crossed Rs 17,000 crore. “But not much has ... Read More »

Two global renewable energy majors join hands

According to reports, two global renewable energy majors — the American renewable energy producer, SunEdison, and the Spanish wind turbine manufacturer, Gamesa — today announced that they have formed an equal joint venture that will develop 1,000 MW of wind energy plants globally by 2018. Gamesa will supply the wind turbines and be responsible for operation and maintenance of the machines. Gamesa “may also” provide engineering, procurement and construction services for the project, says a press release from SunEdison. While ... Read More »

USAID to assist IIFCL raise USD 665m of green finance

According to reports, in an effort to scale up India’s renewable energy capacity, the U.S. Agency for International Development (USAID) on Tuesday signed a Memorandum of Understanding (MOU) with IIFCL Asset Management Company Ltd. (IAMCL) to provide technical assistance for increasing investment in renewable energy in the country by USD 665 million. The MOU was signed by Manpreet Anand, Deputy Assistant Administrator, USAID Asia Bureau, and E. S. Rao, CEO of IAMCL at their office in New Delhi. As part ... Read More »

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