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MNRE backs REC market to help solar power developers

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According to reports, in a move that aims to support the solar power developers in India, the Ministry of New and Renewable Energy (MNRE) is backing the renewable energy certificates (RECs) market. The ministry is optimistic of a positive change in the REC market despite its price higher than the actual purchase of solar power. Newly appointed secretary of MNRE, Dr Upendra Tripathy, said at a gathering in New Delhi that his ministry was trying to work out a probability ... Read More »

Cheaper finance to help boost solar sector, says report

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According to reports, liberalised external commercial borrowing norms and making cheaper funds available, among other measures, will help in boosting the country’s solar energy sector, says a report. Besides, having increased solar general capacity would help in bringing down the dependence on power from coal plants, according to the report prepared by Hindustan Power in association with PHD Chamber of Commerce. The report has listed out various measures including availability of cheaper finance to boost the domestic solar sector. Among ... Read More »

Players from Gulf nations plan to invest in Indian solar sector

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According to reports, solar manufacturing sector in India is all set to get a boost players from Gulf countries are contemplating to invest in the country both in terms of finance and technology. They plan to form joint ventures with Indian manufacturers based on their engineering capabilities. The seeds of this collaboration were sown during a recent meeting of members of National Solar Energy Federation of India (NSEFI) and officials of Solar Alliance of Gulf Cooperation Council (GCC) and Saudi ... Read More »

P2 Solar Acquires Its Second Renewable Energy Project in India

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P2 Solar, Inc.  announced the recent completion of  financing required for the development of its Punjab small hydro projects. The Company closed financing required for Punjab small hydro project expenses during the past four months, amounting to $240,000. This financing was comprised of $200,000 convertible notes with a conversion price to be negotiated at a future date. The balance of the financing was comprised of $40,000 in an equity private placement. The funds have been deployed towards project expenses. Raj-Mohinder ... Read More »

Cheaper finance to help boost solar sector, says report

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According to reports, liberalised external commercial borrowing norms and making cheaper funds available, among other measures, will help in boosting the country’s solar energy sector, says a report. Besides, having increased solar general capacity would help in bringing down the dependence on power from coal plants, according to the report prepared by Hindustan Power in association with PHD Chamber of Commerce. The report has listed out various measures including availability of cheaper finance to boost the domestic solar sector. Among ... Read More »

Greenko upbeat as installed capacity continues to grow- targets operational portfolio of 1000 MW by 2015

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According to reports, Indian energy group Greenko expects full-year results to meet expectations and said that the backdrop for renewable energy in India remains positive. Greenko, which is focused on building new utility scale wind farms and hydropower projects across India, said that trading in the 12 months ended March 31st was “in line” with power generation up 17% at 1,050 GWh. The company said that the early monsoon helped southern hydro generation rise by 43% during the year, while ... Read More »

JERC approves sale of solar power at Rs 1.13 per unit for plant in Chandigarh

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According to reports, a solar power plant at Paryavaran Bhawan in Sector 19, Chandigarh. In an order which is seen as a deterrent to solar power generation, the Joint Electricity Regulatory Commission (JERC) has approved the sale of solar power to the Electricity Department at the rate of Rs 1.13 per unit, as against Rs 8.75 per unit which the Chandigarh Renewable Energy Science and Technology Promotion Society (CREST) had demaned in a petition filed on behalf of the Department ... Read More »

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