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India preparing database of R&D accomplishments in renewable energy

According to reports, the ministry of new and renewable energy (MNRE) says India’s research and development (R&D) accomplishments in renewable energy don’t get the recognition they deserve. To correct this, the National Democratic Alliance (NDA) government is now preparing a detailed database of such work, which it believes will help in shaping R&D road map for renewables in the country. “R&D support in renewables has resulted in achievements in many areas. Putting biomass on technology ladder for various applications, technologies ... Read More »

Indian renewable firms plan $2.5 billion in offshore dollar bond issues

According to reports, Four Indian renewable power producers are planning to raise up to USD 2.5 billion via dollar bonds offshore because of caution among domestic lenders, banking sources said. In addition to the four solar and wind power firms, a fifth company that invests in renewable projects, Adani Group, has raised USD 250 million via a loan but has yet to publicly announce the borrowing, the sources told Reuters. A source working with one of the bond issues said foreign ... Read More »

Plan to make Varanasi clean city with renewable energy

According to reports, the Centre is considering an ambitious plan to make PM Narendra Modi’s constituency, Varanasi, a “clean electricity city” where only renewable energy would be used. The proposal is being considered with power minister Piyush Goyal mooting the idea after visiting Munich in Germany, where the city authorities have targeted 100% clean electricity supply by 2025. Sources said this came up for brief discussion on Tuesday when urban development secretary Durga Shankar Mishra was taking a review meeting ... Read More »

GST shines on renewable energy sector

According to reports, The renewable energy sector is quite content with GST provisions. Contrary to earlier fears of sale of solar equipment – panels, modules and inverters – being taxed at high rates, the GST on such sales has been set at 5 per cent. “The net effect on solar projects will be 3.5-4.5 per cent,” said Raj Prabhu, co-founder and CEO of Mercom Capital Group, which tracks the segment. “There will be issues with power purchase agreements as they will ... Read More »

GST rollout: Here is why rise in rate on coal poses a slight risk for solar, wind industry

According to reports, the GST council has reduced the tax burden on domestic coal by placing it under the 5% GST bracket from the current rate of 11-12% (6% central excise duty plus 5% state VAT). Imported coal, however, would attract basic customs duty (BCD) at 10%. Transportation from the coal mines to the factory/construction site (inter/intra state) is a costly affair due to the service tax charged at the rate of 15% on the transportation services, which is transferred onto ... Read More »

‘Govt push for renewable energy augurs well for India’s green bond market’

According to reports, since India signed the Paris climate deal in 2015, a number of public and private companies have sold green bonds to raise money. Companies such as Renew Power Ventures, Greenko Group, IDBI Bank, Axis Bank and NTPC Ltd have raised large sums through green bonds. In an interview, Rahul Sheth, executive director, capital markets, Standard Chartered Bank, comments on the latest developments in the green bonds market. Sheth, based in Singapore, heads global green bond practice for ... Read More »

Jobs in renewable energy sector see sharp spike in India

According to reports,India’s ambitious aim to install 160 GW of renewable energy by 2022 will have a positive impact on the country’s jobs market, a new study has predicted. The study says that more than 300,000 full-time workers will be needed in these five years and there’s potential to create around one million employment opportunities. Of the many segments of the renewables sector, the labour-intensive rooftop solar component will employ as much as 70 per cent of the new workforce creating ... Read More »

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