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Rs 4,000 crore push for 25 solar parks

According to reports, the renewable energy ministry has proposed a gross budgetary support of Rs 4,050 crore for setting up 25 solar parks of 500 mw each and ultra-mega solar power projects to add 20,000 mw green generation capacity in the next five years. The money is expected to be spent in phases, starting with Rs 500 crore in 2014-15 and rising to Rs 1,400 crore in 2018-19. Solar Energy Corporation of India under the ministry would be the nodal ... Read More »

Govt plans to import technology to boost investment in renewable energy

According to reports, in order to increase energy generation from renewable resources, the centre is planning to take steps to encourage global companies for investing in this sector. The Government is contemplating to seek international cooperation for importing technology to boost investment in renewable energy sector of the country, said Piyush Goyal, Minister of State for Power, Coal & New and Renewable Energy (Independent Charge), in the Lok Sabha on November 27, 2014. As per the Global Status Report 2014 ... Read More »

Banks to fund your rooftop power plant

According to reports, the government proposes innovative debt scheme for renewable energy sector by allowing funding of rooftop solar (photovoltaic) panels as part of overall housing loan taken by households. The move is being contemplated to boost the use of solar energy across the country, with the government having set an ambitious target of reaching 100,000mw of capacity of solar energy in five years at an estimated investment of over Rs 8,00,000 crore. Government officials in know said that the ... Read More »

IEX sees sluggish demand for renewable energy certificates

According to reports, reflecting sluggish demand, Indian Energy Exchange this month saw sale of just over 93,000 renewable energy certificates out of nearly 52 lakh that were available. The total number of sale bids, together in solar and non-solar segments, stood at around 51.88 lakh during the REC trading session held on Wednesday. However, REC trading activities this month were better than in October when only about 36,000 such certificates were sold. The session yesterday saw trading of 93,100 non- ... Read More »

Investment in Renewable Energy Sector

According to reports, the Government is contemplating to seek international cooperation for importing technology to boost global investment in renewable energy sector of the country. To showcase Indias renewable energy potential globally, the Ministry of New and Renewable Energy (MNRE) is organizing the Global Renewable Energy Investment Promotion Meet (RE-INVEST) from 15-17 February, 2015 in New Delhi as a follow up to the Make in India initiatives launched by the Prime Minister of India. This meet will give an opportunity ... Read More »

Greenko Bonds Plunge as India Bans Overseas Funding Method

According to reports, bonds of Greenko Group Plc fell to a record after India’s central bank banned the method used by the hydro and wind power company to raise funds from overseas. The company used an offshore entity to sell U.S. dollar notes at a spread higher than the limit set by the Reserve Bank of India’s external commercial borrowing rules. It then sold the same amount of rupee-denominated bonds onshore, and had the offshore unit buy the debt. The ... Read More »

NTPC to build 375-MW solar power park in Uttar Pradesh

According to reports, the UP government is set to join hands with NTPC to develop a 375-MW solar power park, at an estimated cost of R3,000 crore, in Jalon district, with the objective of tiding over the power crisis. The state government plans to hand over about 750 hectare in Jalon to NTPC for developing the solar park in a phased manner. NTPC will pay the state government a nominal rent on lease. “The ministry of new and renewable energy ... Read More »

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