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Foreign investors giving M&A deals in India’s renewable energy sector a miss

According to reports, foreign strategic investors have largely stayed away from the flurry of deal-making in India’s renewable energy sector, preferring instead to build from the ground up. Out of the $2.32 billion worth of mergers and acquisitions (M&As) in India’s renewable energy sector in the last 15 months, foreign companies have bought assets worth just $290.6 million, while Indian companies have acquired $2.03 billion worth of assets, according to data from Thomson Reuters. Among the larger deals in this ... Read More »

Sale of RE certificates up 31% to 64.88 lakh

According to reports, the sale of renewable energy certificates (RECs) has jumped by 31 per cent to 64.88 lakh in 2016-17 as compared to 49.55 lakh in previous fiscal indicating improvement in compliance of renewable purchase obligation. Power distribution companies as well as open access and captive consumers have to buy RECs from renewable energy producers under renewable purchase obligations (RPOs) as mandated by central and state regulatory commissions. RECs are aimed at providing an easier avenue for various entities, ... Read More »

Rural Electrification eyes Rs10,000 crore renewables lending push

According to reports, Rural Electrification Corp. (REC), a state-owned backer of India’s power sector, plans to lend billions of rupees to clean-energy projects and equipment makers this fiscal year as part of an expanded push into renewables that will also see it issue green bonds overseas. The non-banking financial company is aiming to triple its clean-energy lending and is expecting to set aside nearly Rs10,000 crore ($1.5 billion) for renewable energy in the financial year ending 31 March, chairman P.V. ... Read More »

Green energy firms explore portfolio mergers to aid sell-off

According to reports, India’s clean energy project developers are in talks to merge their portfolios as part of a strategy to achieve scale for selling the assets to overseas investors scouting for large investment opportunities in the country. A case in point is Ravi Jhunjhunwala’s LNJ Bhilwara Group, which is in talks with rivals to merge its wind energy portfolio. Another company following this strategy is Continuum Wind Energy Pte Ltd. Mint reported on 20 February about LNJ Bhilwara Group ... Read More »

In 10 yrs, renewable sources will dominate half of India’s energy capacity

According to reports, non-fossil fuels–renewables, nuclear and large hydroelectric power plants–will account for more than half (56.5%) of India’s installed power capacity within the 10 years to 2027, according to a draft of the third National Electricity Plan (NEP3) released in December 2016. The draft notes that if India achieves its target to install 175 gigawatts (GW, which consists of 1,000 megawatts) of renewable energy capacity by 2022–as it has committed to under the 2015 Paris Agreement–it will not need ... Read More »

IREDA raised Rs 700 crore from Green Masala Bond in March

According to reports, Indian Renewable Energy Development Agency (IREDA), the non-banking financial arm of the ministry of new and renewable energy, raised Green Masala Bonds worth Rs 700 crore from the domestic market in March this year, a company official said. In addition, IREDA also plans to raise $ 350 million Green Masala Bonds at the Singapore stock exchange and the London stock exchange. “In March we have already raised around Rs 700 crore from the domestic markets. This year we ... Read More »

Orient Green Power jumps over 7% in two sessions

According to reports, Orient Green Power Company rose 3.35% to Rs 10.50 at 14:57 IST on BSE, stretching previous session’s gain triggered by the company extending exclusivity pact with IL&FS for merger of wind businesses. Meanwhile, the S&P BSE Sensex was down 44.83 points, or 0.15% to 29,416.62. On the BSE, 9 lakh shares were traded in the counter so far, compared with average daily volumes of 1.39 lakh shares in the past one quarter. The stock had hit a ... Read More »

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