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No takers for US funds among Indian renewable energy firms

According to reports, there are no takers for funds promised by the US to finance renewable energy projects due to the uncompetitive pricing of American equipment manufacturers compared with those from China and south-east Asia, Indian renewable energy firms say. “Most of the sourcing for solar equipment, including photovoltaic cells and modules, is done from China and Malaysia due to the competitive pricing. Similarly, in the case of wind power, the domestic market is mature in terms of technology and ... Read More »

Suzlon to turn profitable in FY16: Tulsi Tanti

According to reports, Suzlon group sold its German subsidiary Senvion SE to US-based private equity firm Centrebridge Partners. Suzlon group chairman Tulsi Tanti outlined company’s plans and its debt reduction strategy in a conference call from Davos in Switzerland. How will the deal help in reducing Suzlon’s debt and when will the company turned profitable? Suzlon has a total debt of around Rs 16,500 crore. We are raising about Rs 7,200 crore through sale of Senvion. About Rs 6,000 crore ... Read More »

Why the US backs India’s great solar bet

According to reports, with the US committing $4 billion (Rs 24,400 crore) to India’s renewable energy sector at a time when energy-starved India is under pressure to cut carbon emissions, Prime Minister Narendra Modi’s motto of “energy to all” could not have had a better boost. The $4 billion deal will mainly comprise loans from US banks and financial institutions. In addition, a memorandum of understanding was signed earlier this month between US-based Sun-Edison Inc and Adani Enterprises to invest ... Read More »

Senvion deal has lenders’ support: Suzlon Chairman

According to reports, Suzlon Chairman Tulsi Tanti is happy with the sale of his company’s German subsidiary Senvion for about €1.1 billion. Responding to queries from BusinessLine, Tanti spoke of his company’s plan to pare debt and turn itself into green next fiscal. Edited excerpts: How happy are you with the valuation of the Senvion sale? Are lenders appreciative of the valuations? Valuation is in line with current multiples. Lenders are appreciative of the steps we have taken to repay ... Read More »

Inox Wind gets 118 MW wind farm project from Tata Power subsidiary

According to reports, Inox Wind Ltd, a unit of Gujarat Fluorochemicals Ltd, said on Tuesday that it has been awarded two wind farm projects of 54 megawatts (MW) and 118MW in Gujarat and Rajasthan, respectively, by Tata Power Renewable Energy Ltd, a subsidiary of Tata Power Ltd. The agreement requires Inox Wind to supply, erect and commission 86 units of its 2MW wind turbine generators. The Gujarat project, located near Rojmal village of Bhavnagar district, is to be completed by ... Read More »

Clean energy: US to place investment officer in India

According to reports, to mobilise private capital in the clean energy sector, the US has agreed to place a field investment officer in India apart from hosting a series of events to overcome strategic barriers in accelerating institutional and private financing. “USAID will install a field investment officer in India this summer backed by a transactions team to help mobilize private capital for the clean energy sector. “In February, the United States will host the Clean Energy Finance Forum and ... Read More »

US agencies commit $4 bn for Indian renewable energy sector

According to reports, in one of the biggest deals for the growing renewable energy sector in India, US federal agencies have committed a total $4 billion for both projects and equipment sourcing. The officials who were close to the developments that happened at the ‘US-India Business Summit’ said three US federal agencies have made separate commitments to pump money in the Indian clean energy sector. US TRADE and Development Agency (USTDA) has decided to leverage $2 billion loan to renewable ... Read More »

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