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Suzlon board okays Rs 5000 cr fundraising proposal

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According to reports, Suzlon Energy’s board has approved a proposal to raise up to Rs 5,000 crore through the issue of securities. It is an “enabling resolution to facilitate the company to raise funds at an appropriate time, should that be required,” the wind turbine maker said in a regulatory filing on Saturday. During a meeting on Friday, the board also gave its nod for increasing the company’s authorised share capital from R1,100 crore to R1,500 crore. “Issue of equity ... Read More »

Going social for a cause

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According to reports, did you think that the term ‘social’ in the lexicon of the rich only referred to balls and banquets? Meet the new breed of entrepreneurs with strong business acumen who have made their money and directed their passion into resolving social issues. Sure, many of India’s affluent try to address social problems through foundations, trusts and personal charity. But we spoke to a few individuals who are diving in and getting their hands dirty, to actively run ... Read More »

Suzlon’s Loss Narrows as India Wind Market Improves

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According to reports, Suzlon Energy Ltd. (SUEL), India’s biggest wind-turbine maker, reported a narrower loss in the fiscal first quarter as it benefits from improving margins and policy decisions in its home market. The net loss shrank to 7.5 billion rupees ($125 million) in the three months through June from 10.6 billion rupees a year earlier, the Pune-based company said today in an e-mail. Total income rose 20 percent to 46.7 billion rupees. The manufacturer’s gross margins improved 4.4 percent ... Read More »

GreenKo Group raises USD 550 million in overseas bond sale

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According to reports, Hyderabad-based GreenKo Group plc, a leading independent clean energy power producer, has raised USD 550 million in a five-year overseas bond sale at a coupon rate of eight per cent at maturity. This is the largest debt sale by a domestic firm with low or sub-investment grade ratings, and the seventh such issue this fiscal. In this connection, it may be recalled that Rolta had raised USD 300 million earlier this month, while IL&FS International Transportation Network ... Read More »

Myrtah Energy increases operating wind portfolio to above 500 MW

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Mytrah Energy Ltd Friday said it has increased its portfolio of operating wind assets by 70% since the end of December, and it is performing well since the start of the monsoon season in India. The power producer said that following the installation of an additional 65 megawatts of assets, its portfolio of operating wind assets now stands at 524.9 megawatts, a 15% increase since March 17, when the company reported its annual results, and a 70% increase since the ... Read More »

Distributed solar power developer Fourth Partner Energy raises funding from Chennai Angels

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According to reports, The Chennai Angels (TCA), a network of private angel investors, has invested an undisclosed amount in Hyderabad-based solar power products firm Fourth Partner Energy Pvt Ltd, according to a press release. The investment round was led by TCA investor members, Shankar V, Kayar Raghavan and Narayanan R. Founded in 2010 by Vivek Subramanian, Saif Dhorajiwala and Vikas Saluguti, Fourth Partner Energy has completed over 300 solar installations across the country with marquee public and private sector companies. ... Read More »

Green corpus without a cause?

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According to reports, India’s green energy fund, which currently has around Rs.12,000 crore in the bank, runs the risk of becoming another corpus without a cause, unless the National Democratic Alliance (NDA) government reviews the way the money collected since July 2010 has been put to use. Only an insignificant portion of the National Clean Energy Fund (NCEF), which was expected to promote and fund clean energy projects, has been disbursed, according to a government official with knowledge of the ... Read More »

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