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ReNew Power looks to raise $150-200 million

According to reports,ReNew Power has close to 600MW of installed and operational clean energy capacity across the states of Maharashtra, Rajasthan, Karnataka, Gujarat, Madhya Pradesh and Haryana. Encouraged by the government’s focus on renewable energy, companies in the sector are starting to raise funds in preparation for new business opportunities. ReNew Power Ventures Pvt. Ltd is one such company and has started initial discussions to raise about $150-200 million in private equity (PE) funding, according to two people familiar with ... Read More »

Suzlon Energy’s Q4 net loss widens to Rs 1,212.06 crore

According to reports, wind turbine maker Suzlon Energy today reported widening of consolidated net loss at Rs 1,212.06 crore for the quarter ended March 31, 2015. The company had reported a consolidated net loss of Rs 603.45 crore in the year-ago period, Suzlon Energy said in a regulatory filing. The company’s consolidated total income during the quarter stood at Rs 4,926.38 crore, a decline of 25.8 per cent. “Our results for FY15 were largely impacted by working capital challenges, which ... Read More »

Have increased loans to renewable energy business: PTC Fin

According to reports, non-banking financial company PTC India Financial Services has increased its loans to the renewable energy business, Pawan Singh, Director and CFO of the company tells CNBC-TV18. Singh is optimistic on the company’s asset quality and business growth. PTC’s net interest margin for the March quarter was 6.04 percent and for FY15 as a whole, it was 6.3 percent. Gross non-performing assets stood at 1.28 percent of the total assets. Below is the transcript of Pawan Singh’s interview ... Read More »

Risk premium was high before Modi arrived: Tulsi Tanti

According to reports, stating that the Narendra Modi government had done reasonably well in its bid to attract investments into the country, especially into the renewable-energy sector, Suzlon chief Tulsi Tanti said India was now attracting more foreign direct investments (FDI), as compared to largely portfolio investments that it was pulling in earlier. “Earlier [before the formation of the Modi government], risk premium used to be high. Investors would keep the bar of expected returns high due to anticipated risks ... Read More »

WB gives Rs 2,500 cr loan for improving AP power efficiency

According to reports, the World Bank has agreed to provide around Rs 2,500 crore loan to Andhra Pradesh for enhancing efficiency in the power sector, an official statement said. The funding is towards enhancing rural supply, smart city, smart metering, distribution strengthening investments including those for new capital city, transmission systems including network strengthening and augmentation, among others, State Energy Conservation Mission said. Meanwhile, the Government of India, in a communication to state government today informed that German development bank, ... Read More »

PTC may call for solar power bids in dollar-denominated tariff

According to reports, as part of the government’s plan to push solar electricity by paying for it in dollars, power trading company PTC India Ltd may call for bids from solar project developers on behalf of the ministry of new and renewable energy (MNRE). The radical approach of dollar-denominated tariff expected to be followed by India’s largest power trader may be similar to that of state-owned NTPC Ltd, aimed at providing green power at less than Rs.4.50 a unit. With firms ... Read More »

GE unveils digital wind farms in power push

According to reports, US-based General Electric today rolled out digital wind farms (DWFs) that can boost power production by up to 20 per cent and help generate about USD 50 billion of value for the wind industry. To achieve that, according to company statement, the technology needs to be applied to all 50 gigawatts (GW) of wind mills being installed this year. “GE announced the launch of its Digital Wind Farm (DWF), a dynamic, connected and adaptable wind energy ecosystem ... Read More »

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