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Brookfield Renewable Sees Opportunities in Coal-Fueled India

According to reports, Brookfield Asset Management Inc., Canada’s largest alternative asset manager, will look for renewable energy opportunities in India as the country seeks to reduce its reliance on coal. “It’s looking for a way to create both domestic sources of power and reduce pollution,” Sachin Shah, chief executive officer of Brookfield Renewable Partners LP, said on a conference call Wednesday. “So you’ve got strong government support. All of that fits in with our thesis that it could be a ... Read More »

IREDA to raise $300 million

According to reports, The government’s principal clean energy financing arm, the Indian Renewable Energy Development Agency (IREDA) seeks to raise at least $150 million through Masala bonds. This issuance will have a Green shoe Option to retain over-subscription up to $150 million. In the request for proposal document, IREDA has invited bids for the appointment of Lead Managers for the proposed issue under Euro medium-term note (EMTN) Programme of $300 million for a tenor up to 5 years. The proceeds from ... Read More »

Railways looking to access 10 MW through the day from Rewa Ultra Mega Solar project

According to reports, the Indian Railways is working on an arrangement where it can use Rewa Ultra Mega Solar Ltd (RUMS) as a power bank so that it can access 10 mega watt solar power throughout the day. The solar power banking facility is being worked out to meet the traction requirement, or running trains, and the tariffs for the same are being negotiated. RUMS is a joint venture of Solar Energy Corporation of India and the Madhya Pradesh government. ... Read More »

India’s power struggle and the emergence of renewable energy

According to reports, India consumes 309 GW of power and still 300 million people in the country live without access to electricity. By 2030, India’s energy consumption is expected to rise to 700 GW. The escalated demand will be not only to due to the growth in the manufacturing industry but also due to electoral promises of providing full access electricity to all citizens by 2022. To achieve this unimaginable, India is placing its bets on both coal and solar energy. ... Read More »

Green Investment Bank may invest in Lightsource India

According to reports, in a sign of growing overseas investor interest in the Indian clean energy space, UK Green Investment Bank Plc. (GIB) plans to become an anchor investor in the Indian operations of UK-based Lightsource Renewable Energy. This comes in the backdrop of a Macquarie-led consortium agreed to acquire GIB from the UK government for £2.3 billion last week. Lightsource Renewable Energy is among the largest global solar power project developers and announced its plans to develop 1,000 megawatt ... Read More »

Hero Future Energies CEO expects tariffs to drop below ₹3

According to reports, the substantial drop in solar power tariff in recent times is unlikely to impact viability of the projects as the project and finance costs too have declined, says Hero Future Energies Pvt. Ltd. CEO Sunil Jain. “People have concerns whether lower tariffs are viable or not. I believe these tariffs are viable as the project and finance costs also have fallen substantially,” he said in an interaction with journalists at a CII conference on rooftop solar programme ... Read More »

Tata Cleantech Capital eyes Rs 5,500 cr asset book by FY19

According to reports, Tata Cleantech Capital (TCCL) is looking at growing its asset book to around Rs 5,500 crore by fiscal 2019, with nearly USD 120 billion debt funds expected to flow into the renewable energy space in the next five years. TCCL, a joint venture between Tata Capital and International Finance Corporation, currently has an asset/loan book size of Rs 2,400 crore. It has funded over 80 renewable energy projects, including wind, solar and small hydro and biomass, with ... Read More »

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