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National Clean Energy fund reaches Rs 17,000 cr mark, but not much allocated to renewable energy sector: experts

According to reports, while the National Clean Energy Fund (NCEF) has crossed Rs 17,000 crore, not much has been allocated to the Renewable Energy sector, says industry expert. In his address at Confederation of Indian Industry (CII’s) Green Power 2015, Ramesh Kymal, chairman, Renewable Energy Council – CII – Godrej GBC and Chairman and Managing Director, Gamesa India said that after raising the coal cess to Rs 200 per tonne NCEF has crossed Rs 17,000 crore. “But not much has ... Read More »

USAID to assist IIFCL raise USD 665m of green finance

According to reports, in an effort to scale up India’s renewable energy capacity, the U.S. Agency for International Development (USAID) on Tuesday signed a Memorandum of Understanding (MOU) with IIFCL Asset Management Company Ltd. (IAMCL) to provide technical assistance for increasing investment in renewable energy in the country by USD 665 million. The MOU was signed by Manpreet Anand, Deputy Assistant Administrator, USAID Asia Bureau, and E. S. Rao, CEO of IAMCL at their office in New Delhi. As part ... Read More »

India, US create $7.9 mn fund for innovation in clean energy

According to reports, India and the US today signed a memorandum of understanding (MoU) to establish the Rs 50 crore ($7.9 million) PACEsetter Fund which aims to accelerate commercialisation of innovation in off-grid clean energy solutions. This is part of President Barack Obama and Prime Minister Narendra Modi’s commitment to strengthening and expanding the US-India Partnership to Advance Clean Energy (PACE), US Embassy said in a statement. “US Ambassador Richard Verma and Ministry of New and Renewable Energy Secretary Upendra ... Read More »

Renewable energy industry hopeful about Paris meet

According to reports, ‘Global warming’ is making it nice and warm for the renewable energy industry, which may be close to being granted its one big wish — cheap finance. This is likely to happen at Le Bourget, Paris, in December. The year end will see negotiators from 196 countries gather at this Paris suburb to see if they can agree on something that could slow down global warming. If the talks succeed, all the countries — for the first ... Read More »

Punjab invites investors to set up solar power projects

According to reports, Punjab government today invited investors to set up solar power projects in the state, saying it has identified 6,000 acres of land for setting up such projects. State owned Punjab Energy Development Agency (PEDA) has invited bids for setting up 500 MW of solar power projects wherein developers can bid from minimum 50 MW to maximum 150 MW with power purchase agreement for 25 years with the State power utility. Disclosing this here today, Bikram Singh Majithia, ... Read More »

Exchanges release withheld payment in Surana Solar trades

According to reports, BSE and NSE which had held back payments in trades done in Surana Solar pending Sebi investigation have released the funds as on June 25, 2015. In separate circulars posted on the exchange websites, broker members were informed of the decision to release the payment owed to them in the trades conducted in Surana Solar. As per exchange officials, while the regulator has allowed for the payments to go through, further course of action by the regulator ... Read More »

Sale of RECs falls 45 per cent to 1.85 lakh in June

According to reports, sale of renewable energy certificates (RECs) has declined by 45 per cent to 1.85 lakh in June as compared to 3.4 lakh in May. India has two power exchanges approved by the Central Electricity Regulatory Commission — Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL) — which hold auction of RECs on the last Wednesday of every month. “The session held at IEX on June 24 saw trade of 1,50,862 RECs (1,28,180 N-Solar and 22,682 ... Read More »

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