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RBI moots priority sector tag for renewable energy

According to reports, a Reserve Bank of India working group has proposed new guidelines for lending to the priority sector with loans to medium enterprises, sanitation and renewable energy sectors coming under the umbrella of the priority sector. The panel which submitted the report to the RBI on March 1, has said the target for lending to the redefined priority sector should be retained uniformly at 40 per cent of adjusted net bank credit (ANBC) or credit equivalent of off-balance ... Read More »

Turkish firm Seul Holding plans solar plant in India

According to reports, Turkish company Seul Holding will build a 20 MW solar plant in India. “Turkish company Seul Holding has decided to build a 20 MW solar plant in India,” Turkish Indian Chambers of Commerce and Industry (TICCI) President Ersin Karaoglan said on the sidelines of inauguration of the Kolkata chapter. He said finer details of the project like location had not yet been firmed up. Karaoglan said clear policy guidelines for solar has helped attracting the Turkish company ... Read More »

India’s Suzlon expects to turn profitable in fiscal 2016: chairman

According to reports, Indian wind turbine maker Suzlon Energy Ltd expects to turn profitable in the fiscal year starting on April 1 after six years of losses, helped by a surge in demand for renewable energy and a reduction in its debt, its chairman said. Suzlon is likely to exit the debt restructuring programme within a year, after the recent capital infusion and revival in demand for non-conventional energy in Asia’s third-largest economy, Chairman Tulsi Tanti told Reuters on Tuesday. ... Read More »

Budget fails to cheer clean energy sector

According to reports, though budget reiterated government’s ambitious capacity addition plans in renewable energy sector, it failed to talk about funds towards development of clean energy, feels the industry. Besides seeking priority sector lending status, the industry was expecting government announcements with regard to access of low cost funds and various other avenues such as ECBs (external commercial borrowings). But no announcement was made on finance side. The government has set an ambitious target of generating 175,000 MW of energy ... Read More »

Renewable energy needs priority lending under infrastructure sector

According to reports, in October of 2014, Prime Minister Narendra Modi instructed the Ministry of New and Renewable Energy (MNRE) to come up with an action plan to build renewable power capacity up to 200 Gigawatts by the year 2022. The previous target of 20 GW for Solar power projects and installations was raised to 100 GW as a result. To put these numbers in perspective, the cumulative electricity generation capacity in India is less than 250 GW and the ... Read More »

Visionary move for green energy

According to reports, the Union Budget presented by Finance Minister Arun Jaitley on Saturday was a momentous occasion for renewable energy with the announcement of a visionary goal of 175-gigawatt capacity by 2022. This makes India one of the most aspirational markets for renewable energy. The 175-GW goal includes a target of 100 GW from solar energy, keeping in mind the fact that its cost is rapidly coming down. Solar energy is much more valuable since it is predictable daytime ... Read More »

Energy policy on the right path: Kirit S Parikh

According to reports, India can now claim at the Paris Conference that it is doing a lot for climate change and will reduce its emission intensity in the power sector. It has put carbon tax on petroleum products, on gas and on coal. The tax of Rs 4 a litre on petrol and diesel and Rs 200 a tonne of coal are significant measures. The cess of Rs 4 on petrol and diesel will generate about Rs 30,000 crore a ... Read More »

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