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India Power Lines to Get $1.2 Billion German Revamp With KfW

According to reports, German state-owned bank KfW Group will spend 1 billion euros ($1.2 billion) to refurbish India’s electricity network for carrying more renewable energy from sources such as solar and wind. KfW agreed to loan Power Grid Corp of India Ltd. 500 million euros to build new power lines and signed deals with India’s government for two loans totaling 125 million euros for grid projects in Rajasthan and Tamil Nadu, it said today in an e-mailed statement. The deals ... Read More »

Simpa Networks raises $4 million commercial debt financing for rural India solar solutions

Simpa, which sells solar-as-a-service to energy-poor households and micro-enterprises in rural India, today announced that it has completed a $4 million debt financing round. The financing has been provided by Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, and by GDF Suez through their Rassembleurs d’Energies program. An estimated 400 million people in rural India still do not have access to an electricity grid. Distributed solar-powered electricity systems are dramatically improving the quality of life for energy-poor ... Read More »

Global consultancy firms step-up focus on consulting for Indian renewable energy companies

According to reports, with an increase in activity in sunrise sectors like wind and solar power in India, on the back of a strong push from the Prime Minister Narendra Modi, large consultancy firms like Accenture or Boston Consulting Group are setting sight on consulting for the renewable energy space. Global consulting firms who have had little or no presence in renewable energy consulting in India are ramping up their work after seeing growth in revenues coming in from the ... Read More »

IREDA to raise Rs 1,500 crore via tax-free bonds next fiscal

According to reports, the government’s dedicated green energy financing institution, Indian Renewable Energy Development Agency (IREDA) is planning to raise Rs 1,500 crore next fiscal through issuance of tax-free bonds in order to support the Centre’s ambitious clean energy targets running into hundreds of gigawatts. Over the next three years, the agency expects to lend Rs 14,000-16,000 crore, as much as what it has disbursed over the past 28 years of its existence, owing to the targets and the growing ... Read More »

Hike in power tariff will have adverse impact: Madras Chamber

According to reports, the recent 15 per cent increase in power tariff by the Tamil Nadu government would have an “adverse impact” on industries by driving up operating costs, the Madras Chamber of Commerce and Industry said today. “The Chamber believes that this move will send out wrong signals, especially at a time when Tamil Nadu is competing with other destinations in attracting new investments to the state,” the Chamber said in a statement. Noting that the Chamber was well ... Read More »

Wind power sector readies for consolidation as Govt aims big

According to reports, the re-instatement of tax benefits and generation based incentives for wind power seemed to have brought back the confidence of the independent power producers (IPPs) in the sector. Besides, an increased impetus to ‘Make in India’ has made the sector an attractive investment opportunity all over again. After being deprived of any policy for over a year, the Union Budget 2014 re-introduced accelerated depreciation of 80 per cent for wind power projects. It also approved continuation of ... Read More »

SoftBank official discusses solar project plan with Naidu

According to reports, Raman Nanda, Executive Advisor of Japanese telecommunication and internet company, SoftBank met Chief Minister N. Chandrababu Naidu at Secretariat on Tuesday and held discussions on the 10,000 MW solar power plant the firm proposes to set up in the State. Mr Nanda also met Energy Department officials here and enquired about the costs for the project. According to an official release, the Chief Minister requested the SoftBank executive to work with the AP government officials on the ... Read More »

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