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CERC staff paper bats for innovation in power trading business

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According to reports, in a bid to further promote development of power market, the Central Electricity Regulatory Commission’s (CERC) staff discussion paper has made a pitch for allowing a more liberal interpretation of trading margin applied on short term transactions undertaken by traders and to incentivize traders to innovate in trading business for the larger interest of the markets and the consumers. The staff paper, which is uploaded on CERC’s website seeking feedback from various stake holders, has proposed that ... Read More »

JICA extends ODA loan of Rs 3,500 cr for energy sector

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According to reports, Japan International Cooperation Agency (JICA) today signed agreements with the Small Industries Development Bank of India (SIDBI) and the Indian Renewable Energy Development Agency Limited (IREDA) to provide 30,000 million Japanese Yen (approx Rs 1,750 crore) Japanese Official Development Assistance (ODA) to each of the two institutions to enhance energy availability in India. The agreement was signed by Shinya Ejima, Chief Representative, JICA India with N K Maini, Deputy Managing Director (In-charge), SIDBI and with K S ... Read More »

IFC lending $14.3M to Azure Power’s solar energy arm

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According to reports, International Finance Corporation (IFC), the private sector investment arm of the World Bank, is lending $14.3 million to PE-backed Azure Power India Private Limited’s renewable energy arm Azure Clean Energy Private Limited, as per a disclosure. IFC proposes to provide ‘A’ loan of up to $14.3 million (Rs 86 crore) equivalent for the development of a 40 MW solar power plant in Rajasthan. Azure Clean has been set up for the sole purposed of construction, operation and ... Read More »

Ming Yang expects India to be a huge overseas market

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Ming Yang in their most recent earnings call noted that the DNV-GL certificate for Ming Yang 1.5 megawatt-89 meter WTGs was a driver to enter the India market and that it believed that India would  be a huge overseas revenue source  in the future. China Ming Yang Wind Power Group Ltd. (MY) won a 150-megawatt order in India last December, after becoming the first Chinese turbine maker to receive approval to sell machines in Asia’s second-biggest wind market as sales ... Read More »

Suzlon to raise Rs 4,000-crore from equity market this fiscal to pare debt

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According to reports, with an estimated order book of $7 billion, the company expects revenues to touch Rs 2,700 crore by current fiscal end  . Suzlon Energy Ltd (SEL), after facing a rough weather including withdrawal of accelerated depreciation and non-extension of generation-based incentives (GBIs), has now turned the bend after eight quarters and reported positive EBITDA of Rs 73 crore in the first quarter of this fiscal (2014-15) with a strong order book of 4.9 GW. The order book ... Read More »

Hareon Solar China partners with Nereus Capital to develop 150 MW solar assets in India over two years

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Hareon Solar Technology Co., Ltd., a leading manufacturer of solar panels, announced that it will partner with alternative asset manager, Nereus Capital (“Nereus”) to develop over 150MW of solar power projects in India over the next two years. “India is a compelling and growing market for solar PV projects,” said Dr. Jie Zhang, VP of Global Business Development of Hareon. “By partnering with a leading Indian private equity firm, we are able to apply leading technology and end-to-end financing to ... Read More »

Suzlon to rebalance capital structure by March

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According to reports, wind turbine maker Suzlon Energy Ltd plans to partially replace high cost rupee debt worth about Rs.9,000 crore with less expensive foreign funds in the current fiscal to rebalance its capital structure. Suzlon, which has completed its operational restructuring efforts, is also betting on improved business conditions to bolster its fortunes. “We expect to complete financial restructuring this fiscal. We are looking to re-balance the capital structure,” Suzlon group head of finance Kirti Vagadia told reporters over ... Read More »

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