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IDBI Bank gains after raising $350 million from issue of Green Bonds

According to reports, IDBI Bank had launched a US dollar denominated Green Bond issue having a size of $350 million and tenure of 5 years on 23 November 2015. The issue received an overwhelming response from investors and was subscribed by 3 times. The issue was made under the $5 billion medium term note (MTN) programme listed on the Singapore Stock Exchange. The issue had an initial price guidance of 270 basis points (bps) above 5 year treasury yield. Final ... Read More »

Sebi to clear framework on green bonds

According to reports, the Securities and Exchange Board of India (Sebi) is set to unveil rules on monitoring the end-use of green bonds and may propose incentives for companies to issue them at its board meeting on Monday. “Sebi is working on regulations that will incentivise companies to launch green bonds. We would like these bonds to be listed on the domestic exchanges instead of on overseas exchanges,” said a source privy to the development. “Regulations by Sebi are likely ... Read More »

India adds 2,311 MW renewable generation capacity in 7 months

According to reports, India has added 2,311.88 MW of grid-connected power generation capacity from renewable energy sources like solar and wind till October of this financial year, against the full fiscal’s target of 4,460 MW, an official statement said on Thursday. A total of 827.22 MW of solar power generation capacity was added in this period, taking the cumulative electricity generation capacity from the source to 4,579.24 MW, said the new and renewable energy ministry statement. Wind power generation capacity ... Read More »

UDAY gets instant ‘pan-India consensus’, says Piyush Goyal

According to reports, Union Power Minister Piyush Goyal on Friday claimed “a pan-India consensus” on the scheme unveiled by the Centre to rescue almost bankrupt state electricity retailers. “Almost all the states have heartily welcomed the new initiative (announced yesterday) when it was discussed at the conference of Power, Renewable Energy & Mines Ministers of State and Union Territories being held in the city,” he said. “The new scheme UDAY has been very well received. Today we shared the scheme in ... Read More »

Indian Railways all set to tap solar energy

According to reports, as part of the Indian Railways’ push to tap renewable energy, the Mysuru Division is tapping solar energy resources to reduce its dependence on conventional forms of energy dependent on coal and water. With this in mind, a 15 kW capacity wind and solar hybrid project is being established at Birur station at an estimated cost of Rs. 37.34 lakh, according to the Divisional Railway Manager Rajkumar Lal. This is in pursuance of the Railway’s drive to ... Read More »

Mytrah Energy looks for funding to start operating its solar projects soon

According to reports, renewable energy producer Mytrah Energy (India) Ltd is looking at raising Rs.1,000-1,200 crore of equity for the solar projects it plans to make operational soon. The company wants to achieve financial closure of 380 MW of solar projects in the next 6-8 months, said Vikram Kailas, managing director, Mytrah Energy. Mytrah also pans to tap debt of around Rs.4,000 crore for these projects. In 2014-15, the company had raised $130 million through bonds purchased by Goldman Sachs, ... Read More »

Waste to energy: Bengaluru gets Dutch help

According to reports, Karnataka state government signed an MoU on Monday with Netherlands’ government for a waste to energy technology which will be utilised to dispose Bengaluru filth. With an investment of Rs 470 crore, the waste to energy project will be utilised to dispose 600 metric tonnes of garbage generated in the city. At a meeting between Netherlands’ ambassador in India, Alphonsus Stoelinga, and chief minister Siddaramaiah, the waste to energy project was finalised. Speaking to the media, Siddaramaiah ... Read More »

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