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Suzlon Energy Suffers 10% Drop as New Shares Trade

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According to reports, Suzlon Energy Ltd. (SUEL), India’s biggest wind-turbine maker, fell by its limit as new shares converted from the company’s bonds began to trade. The shares dropped 10 percent, the most since April 30 last year, to 20.35 rupees as of 10:30 a.m. local time. The benchmark S&P BSE Sensitive Index rose 0.1 percent. Investors approved a $547 million bond sale in July to replace four older notes after the Pune-based manufacturer committed India’s biggest convertible bond default ... Read More »

Earth Infra plans foray into new biz with Rs 600-cr investment

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According to reports, realty firm Earth Infrastructures plans to enter into new businesses, like solar energy and rail wagons manufacturing, in tie-up with Japanese firms and has earmarked investment of Rs 600 crore for diversification. City-based Earth group is currently developing six housing and five commercial projects in Gurgaon, Greater Noida, Yamuna Expressway and Lucknow. Of this, four projects are expected to be delivered next year. “We are looking to diversify into other businesses. We have identified certain sectors like ... Read More »

NTPC to invest ₹7,000 cr in large solar parks in AP

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According to reports, NTPC Limited, NTPC Vidyut Vyapar Nigam Limited and Solar Energy Corporation of India Limited are set to enter into separate agreements with Andhra Pradesh for setting up of large solar power generation parks of about 1000 MW each. NTPC is set to enter into an agreement with the State for its long pending 4000 MW thermal power project proposed at Pudimadaka, located close to Visakhapatnam district in Andhra Pradesh. The project has been pending for years as ... Read More »

See business opportunity of Rs 7 lakh crore in solar power: PTC India

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According to reports, RM Malla, managing director and chief executive officer, PTC India says renewable energy has a lot of potential in India as we receive atleast 330 days of sunlight. Speaking to CNBC-TV18, Malla says solar power poses a big business opportunity for the company to the tune of Rs 7 lakh crore and adds that they can produce 1,50,000 megawatts (MW) of energy in 10 years only from solar energy. “Hence we have signed a memorandum of understanding ... Read More »

ADB to give $150 mn for renewable energy development in Rajasthan

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According to reports, Asian Development Bank will provide loans totalling $150 million to help create infrastructure for renewable energy development in Rajasthan. “The Asian Development Bank (ADB) and the government today signed two loans totalling $150 million to help build transmission lines that will support renewable energy development in the state of Rajasthan,” ADB said in a release. The $150 million loans are the first tranche of the $500 million Rajasthan Renewable Energy Transmission Investment Program approved by ADB in ... Read More »

India Plans Renewable Targets for Generators as RECs Flop

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According to reports, India plans to ask power generators to invest in clean-energy projects as Prime Minister Narendra Modi seeks to accelerate the nation’s shift away from the troubled coal industry. The government is preparing a rule that would mandate companies building fossil fuel based plants to also set up renewable capacity, Power Minister Piyush Goyal said yesterday. Coal generates 60 percent of the nation’s electricity even as supply bottlenecks contribute to chronic blackouts. “A generator will have an obligation ... Read More »

IFC, Yes Bank to lend USD 150 million to Continuum Wind Energy

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According to reports, Continuum Wind Energy, in which Morgan Stanley Infrastructure Partners owns a majority stake, would receive a USD 150-million loan from two lenders for a 170-MW project in Madhya Pradesh. World Bank Group member International Finance Corporation (IFC) said it would lend USD 50 million and has helped arrange an additional USD 100-million loan from private sector lender Yes Bank for the wind power plant in Madhya Pradesh. The World Bank Group’s impact investment and lending body would ... Read More »

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