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Suzlon Q2 loss at Rs 656 cr; logs rise in income

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According to reports, wind turbine maker Suzlon Energy today posted net loss of Rs 656.21 crore for the second quarter ended September 30, 2014-15. The company had reported a net loss of Rs 782.37 crore for the July-September quarter, 2013-14. Its total income in Q2, 2014-15 increased from Rs 4,820.54 crore a year ago to Rs 5,391.76 crore. Suzlon plans to list its German subsidiary Senvion on the London Stock Exchange through an initial public offer which is likely to ... Read More »

Little over 36,000 RECs find buyers on IEX this month

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According to reports, reflecting sluggish demand, just over 36,000 renewable energy certificates were sold this month on the Indian Energy Exchange whereas nearly 50 lakh such certificates were up for sale. During the session on IEX yesterday, as many as 36,411 non-solar RECs were traded while those in the solar segment touched just 232. Trading in RECs take place in the country’s power exchanges on the last Wednesday of every month. “In the non-solar segment, 36,411 buy bids and 47,66,941 ... Read More »

Wind sector VC funding drops to $2.4 billion

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According to reports, corporate funding activity in the wind sector globally dropped to $2.4 billion in the third quarter of 2014 from $4 billion in the second quarter of the year, according to a report by global clean energy communications and consulting firm Mercom Capital Group. Wind venture capital (VC) funding came in at $140 million in one deal, compared to $48 million in four deals in last quarter. The only VC deal this quarter was India-based ReNew Power Ventures’ ... Read More »

SunEdison signs 5 GW MoU with Rajasthan for Solar PV plants

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SunEdison, Inc., today signed a Memorandum of Understanding (MOU) with the Rajasthan Government aimed at developing Rajasthan as the global hub for solar energy.  SunEdison intends to establish 5 GWs of capacity in the form of multiple Mega Solar Projects, with the expected capacity of each Mega Solar project 500 megawatts (MW) or more. The MOU comes at an opportune time following the new Solar Policy announced by the Government of Rajasthan, which aspires to create 25 GW of solar ... Read More »

Acme, First Solar Submit Lowest Bids in India Auction

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According to reports, U.S. panel maker First Solar Inc. (FSLR) and Acme Solar Energy Pvt. were poised to win licenses to build plants in southern India after pledging to sell power at rates about one-third cheaper than the global average. Tempe, Arizona-based First Solar bid to sell electricity for as low as 5,250 rupees ($86) a megawatt-hour, while Acme offered to supply for as low as 5,637 rupees a megawatt-hour, according to a list of qualified bids issued by the ... Read More »

REC Pays Rs. 113.43 Crore as Final Dividend to Government

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According to reports, Rural Electrification Corporation Limited (REC) a Navratna Public Sector Undertaking has paid to the Government the final dividend of Rs. 113.43 crore for the Financial Year 2013-14, on its share capital held by the Government. A cheque of the amount was handed over to Sh. Piyush Goyal, Minister of State for Power, Coal and New & Renewable Energy (Independent charge) by Sh. Shri Rajeev Sharma, Chairman and Managing Director of Rural Electrification Corporation Limited (REC), in presence ... Read More »

Solargise to use $200m to set up 3,000 mw projects

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According to reports, UK-based solar power firm Solargise plans to invest $200 million or Rs 1,200 crore in seting up about 3,000 mw of both self-generated and EPC projects in the next two to three years through its Indian subsidiary Solargise Grapp Energies. The company has already bagged few projects under the state governments’ solar mission plans across Rajasthan and Bihar and is in the process of tying up few projects in Karnataka, Tamil Nadu and Andhra Pradesh. H D ... Read More »

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