Search

Home » Finance

Category Archives: Finance

Temasek-backed Sembcorp set to pump in $600 mn in India power arm

According to reports, Sembcorp Industries Ltd, promoted by Singapore’s sovereign wealth fund Temasek Holdings Private Ltd, is set to infuse fresh capital of about $600 million into its power business in India, Sembcorp Gayatri Power Ltd (SGPL), which is operating a 1,320 megawatt (MW) thermal power plant in Andhra Pradesh. The capital infusion, in the nature of fully guaranteed debt from the parent group, will lower the existing domestic debt in the project from about $1,050 million to about $450 ... Read More »

Greenko Energy raises $155 million from GIC, Abu Dhabi Investment Authority

According to reports, renewable energy firm Greenko Energy Holdings has on Monday announced raising $155m (nearly Rs 1,010 crore) from global investment firm GIC and an arm of Abu Dhabi Investment Authority (ADIA). In a statement, Greenko said it has signed a definitive agreement with investors wherein GIC is investing $123.9 million, while the balance $31.1 million is being invested by the ADIA’s subsidiary. Following this fresh investment, GIC continues to be the majority shareholder. Greenko said it would deploy ... Read More »

Solar power bids unsustainable: Bridge to India Bridge to India

According to reports, consulting firm Bridge to India has termed the recent low winning bids for solar power projects in India “unsustainable” and warned that “inadequate risk pricing poses a severe viability challenge for the sector”. The warning comes after solar power developers last month bid as low as Rs2.97 per kilowatt hour (kWh) for a 750-megawatt (MW) project at Rewa in Madhya Pradesh. The winning bid offered a so-called levelized tariff—the value financially equivalent to different annual tariffs over ... Read More »

US-based Evergreen Power in talks to raise $100 mn for India

According to reports, US-based Evergreen Power is in talks with investors, including private equity, infrastructure funds and strategic investors, to raise up to $100 million in equity to ramp up its wind energy projects in India, its top executive told ET. The company wants to bring 280 megawatts (MW) of wind energy online in the next 12 months in the states of Tamil Nadu, Karnataka and Madhya Pradesh. Eventually, it aims to scale up wind energy production capacity to 1 gigawatts ... Read More »

TEDA bids for 50 MW solar power

According to reports, Tamil Nadu Energy Development Agency (TEDA), the State nodal agency for promoting renewable energy, is bidding in Tangedco’s tender for procuring 500 MW of solar power. TEDA has bid for 50 MW capacity in the tender at a price of ₹4.44 per kilo watt hour, making it the second highest in terms of capacity. Rays Power Infra Pvt. Ltd had bid for ₹4.40/kwh for setting up 100 MW capacity, which was the lowest bid against its benchmark ... Read More »

First Solar may sell about 200MW of assets in India

According to reports, American solar panel maker First Solar is exploring the sale of almost 190-200 megawatts (MW) of its solar power assets in India, two people aware of the development said. First Solar is a leading global provider of comprehensive photovoltaic (PV) solar systems and has supplied solar panels worth over 17 gigawatts (GW), globally, according to the company’s website. “First Solar India has been contemplating to monetize its solar power assets of around 190-200 MW and they are ... Read More »

MNRE receives Rs 10,239 cr from NCEF since FY’15

According to reports, the Ministry of New and Renewable Energy (MNRE) has received Rs 10,239 crore from the National Clean Energy Fund in the three fiscals to 2016-17. “From FY 2014-15 up to the current financial year, i.e 2016-17, Rs 10,239.18 crore was allocated from the National Clean Energy Fund (NCEF) to the Ministry of New and Renewable Energy,” Union Power Minister Piyush Goyal said in a written reply to the Rajya Sabha. In addition to NCEF support, Rs 787.53 ... Read More »

Scroll To Top