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India’s solar mission can cause new debt problems

According to reports, the recent decision of the Supreme Court not to allow a revision of the tariff charged by Tata Power Co. Ltd and Adani Power Ltd for their 4,000MW (megawatt) and 4,620MW Mundra ultra-mega power projects (UMPPs) based on Indonesian coal raises serious concerns about the viability of these projects. In both cases, a decision by the Indonesian government to link the price of coal exported from the country to a benchmark based on international prices of coal ... Read More »

ReNew Power’s Sumant Sinha raises $100m from Piramal unit ahead of IPO

According to reports, Sumant Sinha, founder of Goldman Sachs-backed green energy producer ReNew Power Ventures Pvt. Ltd, has raised around $100 million in structured credit from Piramal Capital’s structured financing group (SFG) to raise his stake in the company ahead of a proposed initial public offering (IPO), two people aware of the development said. The fund raising was necessitated by Sinha’s low stake in the company, which could force private equity investors to lock in part of their shareholding as ... Read More »

Wind energy takes sail out of fiscal 2018 infra outlook

According to reports, lacklustre toll roads, thermal and wind energy brought down the overall outlook of infrastructure sector to negative. Wind energy that had stable outlook in fiscals 2016 and 2017 has a negative outlook for fiscal 2018, while airports have moved to positive from the earlier stable outlook, according to India Ratings and Research (Ind-Ra). On the renewable power front, the solar energy sector is shining over wind power projects. The credit quality of wind power projects is likely ... Read More »

‘Electric mobility is the only way to get renewables in transportation’

According to reports, Mobility, is one of the pioneers in the electric mobility space, clocking more than 18 years on the track. After many years of trials and tribulations with Reva (now Mahindra Reva), Maini has finally moved on to building an entire ecosystem of renewable energy-based infrastructure with his new venture Sun Mobility. In an interview with ETtech, Chetan Maini, the vice-chairman of Sun, talks about his first venture, government policies, Elon Musk and why his new platform is cost ... Read More »

Praj opens India’s first second-generation bio-refinery for renewable fuels

According to reports, Praj Industries on Sunday announced the opening of India’s first integrated bio-refinery for renewable fuels and chemicals which will use a variety of agricultural residues to produce a variety of products. The second-generation bio-refinery demonstration plant, inaugurated by union minister Nitin Gadkari, is capable of producing 1 million litres per annum (MLPA) of ethanol by processing a variety of agri-residue like rice and wheat straw, cotton stalk, bagasse, cane trash, corn cobs and stover, etc, with superior ... Read More »

State run EESL to invest 100 million pounds in UK over next three years

According to reports, State-run Energy Efficiency Services Ltd (EESL) will invest 100 million pounds in the UK over the next 3 years with an aim to create space in the country’s 6.4-billion pounds energy efficiency services market. EESL entered into a joint venture with EnergyPro Ltd, an advisory company in energy efficiency, and invested in EPAL, earlier a wholly-owned arm of the EnergyPro. EESL would route its investments through EPAL. “EESL has already invested 7 million pounds in the EPAL. ... Read More »

Capacity additions in renewable energy on par with thermal power in 2016-17

According to reports, for the first time in the country, capacity additions in the renewable energy sector were close to those of the thermal power segment in 2016-17. The renewable energy sector has ended 2016-17 with a record capacity addition of 11,320 MW, though it fell short of its target (16,660 MW) for the year. Capacity additions in thermal power segment stood at 11,551 MW during the fiscal. The fiscal 2016-17 witnessed many milestones in the clean energy segment – ... Read More »

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