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India to launch $1-b equity fund for renewable energy

According to reports, India proposes to launch a $1-billion equity fund, with seed capital from public sector units, to support renewable energy companies. Addressing a ‘Talkathon’ ahead of the 2015 Paris Climate Conference or COP-21, Piyush Goyal Minister of State (Independent Charge) Power, Coal and New & Renewable Energy, said, “While we hope the Paris talks will help developed countries provide long-tenor low-cost funding, we are also preparing ourselves to see how we can finance our renewable energy thrust.” “We ... Read More »

Solar power: make hay while the sun shines

According to reports, of late, we have seen some intriguing discussions on the rationale and viability of the proposed five-fold increase in targeted installed solar power capacity from 20 GW to 100 GW by 2022. To achieve the targeted capacity, it is imperative that an environment is cultivated which induces confidence in investors to invest in this sunrise sector. This necessitates development of a prudent policy framework, which is ably supported by regulatory commitments with respect to honouring all the ... Read More »

SunEdison sells 425 Mw of projects for $231 million in India

According to reports, SunEdison, Inc, and TerraForm Global, Inc, a diversified owner and operator of clean energy projects, today announced that they have entered into an agreement under which SunEdison sells TerraForm Global a series of projects located in India for an aggregate equity consideration of $231 million, subject to purchase price adjustments. TerraForm Global, Inc., is emerging markets yieldco vehicle of SunEdison. The projects will generate 425 megawatts of capacity in all. A portion of the purchase price was ... Read More »

IDBI Bank gains after raising $350 million from issue of Green Bonds

According to reports, IDBI Bank had launched a US dollar denominated Green Bond issue having a size of $350 million and tenure of 5 years on 23 November 2015. The issue received an overwhelming response from investors and was subscribed by 3 times. The issue was made under the $5 billion medium term note (MTN) programme listed on the Singapore Stock Exchange. The issue had an initial price guidance of 270 basis points (bps) above 5 year treasury yield. Final ... Read More »

Sebi to clear framework on green bonds

According to reports, the Securities and Exchange Board of India (Sebi) is set to unveil rules on monitoring the end-use of green bonds and may propose incentives for companies to issue them at its board meeting on Monday. “Sebi is working on regulations that will incentivise companies to launch green bonds. We would like these bonds to be listed on the domestic exchanges instead of on overseas exchanges,” said a source privy to the development. “Regulations by Sebi are likely ... Read More »

SunEdison to follow asset-sale model for raising capital

According to reports, solar energy services firm, SunEdison, will implement 2,000 MW of solar projects in India over the next two years and continue to explore operational asset-sale option for raising capital, Pashupathy Gopalan, President of Asia-Pacific and Sub-Saharan Africa, said here. “If you take Africa-Asia, India is far more interesting country for solar. In India today, we have visibility of 2 GW solar and wind projects, which as a pipeline for us is phenomenally strong. And, executing over 2GW ... Read More »

SunEdison wants wind tariffs competitively determined

According to reports, striking a discordant note with the rest of the wind power industry, SunEdison, a leading player in the renewable energy sector, today called for wind energy tariffs to be determined through competitive bidding process. (Today, wind energy producers get a fixed ‘feed-in tariff’ determined by each state electricity regulator—Rs 3.51 in Tamil Nadu, Rs. 4.20 in Karnataka and Rs. 5.92 in Madhya Pradesh.) “Why treat wind different than solar?” posed Pashupathy Gopalan, who heads SunEdison’s Indian operations. ... Read More »

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