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Solar Alliance shows India’s leadership in clean energy: Experts

According to reports, the launch of an unprecedented international solar alliance in Paris on the sidelines of the climate change summit shows India’s leadership in clean energy, environmental experts here have said. “This unprecedented international solar collaboration sets an encouraging tone as country representatives gather today to reach a new global climate agreement. India’s leading role in forming an International Solar Alliance anchors its own climate commitment to ramp up renewable energy,” said Rhea Suh, president of the Natural Resources ... Read More »

Solar rooftop systems subsidy will remain at 30%

According to reports, solar rooftop systems will continue to be subsidized by 30%, despite the Union ministry of new and renewable energy (MNRE)’s June announcement of hacking it by half. Industry experts are not thrilled about the decision, citing state incompetency in doling out the subsidy on time, possibility of poor quality products from suppliers while leaving manufacturing costs unchanged. The recent announcement from the ministry mentions that the subsidy comes under the Central Financial Assistance (CFA) scheme and is ... Read More »

Indian firms line up for Welspun’s green projects

According to reports, Hero Future Energies, ReNew Power and Reliance Cleangen are evaluating the renewable energy portfolio of Welspun Enterprises. Welspun Renewables, wholly-owned green energy arm of Welspun Enterprises, is selling equity stakes in its solar and wind power projects. SoftBank, earlier keen to pick up stakes in the projects, has dropped out. Welspun Renewables was raising capital through equity sales, said a person close to development. Persons in the know said domestic and foreign companies were in the fray ... Read More »

Sebi to make corporate, green bonds investor friendly

According to reports, the board of the Securities and Exchange Board of India (Sebi) in its meet on Monday is expected to ease norms for trading in corporate bonds. The regulator is also likely to frame the guidelines to list the so-called green bonds on domestic exchanges. To make the bond market transparent and investor friendly, Sebi will address the issue of listing of such privately placed bonds on the exchange platform for secondary market transactions. Typically, a company issues ... Read More »

India, 19 other nations pledge to promote clean technologies

According to reports, twenty countries, including India, the US and China, will launch an initiative to double their clean energy research and development budget over the next five years as part of global efforts to tackle climate change. The total amount of money being committed by these 20 countries – under Mission Innovation — amount to USD 20 billion, about half of which would come from the US, White House officials said.  A formal announcement of the initiative is expected ... Read More »

Welspun Group to sell its renewable energy business, appoints Barclays to look for a buyer

According to reports, the Welspun Group has put its renewable energy business on the block and has appointed British bank Barclays to look for a buyer, two people with direct knowledge of the plan said, as the pipe-to-textile maker seeks to trim debt amid concerns of a fall in solar power prices hurting its margin. “The process has just begun,” said one of the people. “Some overseas strategic investors have shown preliminary interest.” The $3 billion group, controlled by billionaire ... Read More »

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 »

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