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Work begins on India’s first green energy corridor project

According to reports, India today conducted the ground-breaking ceremony for its first green energy corridor project with an ultra high-voltage direct current (UHVDC) link over 1,800km with the aim to bring power to 80 million people. The project by state-run Power Grid Corporation of India (PGCIL) is being executed by ABB Group in partnership with Bharat Heavy Electricals Limited (BHEL). “This link is a key element of integrating renewable energy with the main grid. It will integrate thermal and wind energy ... Read More »

Green energy target tough to achieve, say officials

According to reports, the government is unlikely to meet its much publicised target of 175 GW (gigawatt = 1,000 megawatt) of renewable energy by 2022 due to the poor progress of the rooftop solar programme, according to officials in the Ministry of New and Renewable Energy. The Ministry was considering increasing the contribution of other sources such as biogas and small hydro to make up the difference, they said. “You see, there are several issues with rooftop solar,” an official ... Read More »

No impact of GST on renewables, no need for lower taxes: Piyush Goyal

According to reports, with renewables tariff already touching new lows, Power Minister Piyush Goyal today said there was no need for lower taxes to encourage clean energy and the GSTregime will have no impact on power rates. However, the minister is hopeful that lower GST rate of 5 per cent on coal, compared to existing 11.69 per cent, would help discoms provide power at affordable rates. “We don’t need support of lower taxes to encourage renewable energy. By itself, it is ... Read More »

ADB Issues Green Rupee-Linked Bond to Support Renewable Energy in India

According to reports, the Asian Development Bank (ADB) has raised 3 billion Indian Rupees (INR), about $47 million, from a new issue of offshore Indian Rupee-linked bonds to help finance climate change mitigation and adaptation projects in India. Today’s fundraising represents ADB’s maiden Indian Rupee green bond and shows the institution’s long term commitment to financial market development in India, said ADB Treasurer Pierre Van Peteghem. In today’s markets, green bonds are an increasingly important source of financing for climate ... Read More »

CLP India eyes transmission corridors, smart grids

According to reports, CLP India, part of the 115-year-old Hong Kong-based energy company, is eyeing potential buyouts, transmission project bids and renewable energy sector space in the country. The company, whose installed capacity is close to about 3 giga watt (3000 MW) in the country, is expected to see its renewable energy capacity going past the one giga watt mark with the commissioning of the 100 MW solar park at Veltoor in Telangana. Rajiv Mishra, Managing Director of CLP India, ... Read More »

IIEST creates India’s first smart grid project to generate power from renewable energy

According to reports, the Indian Institute of Engineering Science and Technology (IIEST) has successfully created the country’s first smart grid project, which will generate power from renewable sources of energy. The project will soon be inaugurated by President Pranab Mukherjee, IIEST Director Ajoy Kumar Roy told. “The smart grid will be synchronised to generate power from solar, wind and vegetable waste resources, depending on the weather conditions and availability of waste products. It is the first of its kind in ... Read More »

IFC to provide up to $40m debt to Tata Cleantech Capital

According to reports,   International Finance Corp (IFC) has agreed to provide $40 million worth senior debt to Tata Cleantech Capital Ltd (TCCL). TCCL will subscribe to secured non-convertible debentures, structured as a green bond, to be issued by the company, according to a disclosure. The company will use the proceeds to finance wind, solar and other climate finance projects that meet the green bond eligibility criteria. Mumbai-headquartered TCCL is a joint venture between Tata Capital and IFC, the investment unit ... Read More »

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