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IREDA to raise $300 million

According to reports, The government’s principal clean energy financing arm, the Indian Renewable Energy Development Agency (IREDA) seeks to raise at least $150 million through Masala bonds. This issuance will have a Green shoe Option to retain over-subscription up to $150 million. In the request for proposal document, IREDA has invited bids for the appointment of Lead Managers for the proposed issue under Euro medium-term note (EMTN) Programme of $300 million for a tenor up to 5 years. The proceeds from ... Read More »

Railways looking to access 10 MW through the day from Rewa Ultra Mega Solar project

According to reports, the Indian Railways is working on an arrangement where it can use Rewa Ultra Mega Solar Ltd (RUMS) as a power bank so that it can access 10 mega watt solar power throughout the day. The solar power banking facility is being worked out to meet the traction requirement, or running trains, and the tariffs for the same are being negotiated. RUMS is a joint venture of Solar Energy Corporation of India and the Madhya Pradesh government. ... Read More »

Actis to invest $500 million in green energy platform Solenergi

According to reports, Private equity fund Actis LLP plans to invest around $500 million in its second green energy platform in India, Solenergi Power Pvt. Ltd, two people aware of the development said. Solenergi is among the successful bidders for the Rewa solar power project in Madhya Pradesh. “Actis recently completed the fund round for its fourth fund. Of this, it plans to deploy around $500 million for Solenergi Power,” said one of the two people cited above, requesting anonymity. ... Read More »

Tulsi Tanti: Suzlon on verge of exiting corporate debt restructuring

According to reports, amid increasing flow of investments in the renewable power ($14 billion in FY17), and expectations of 50 GW wind energy capacity addition in the next 5 years in the country, Tulsi Tanti – the chairman and managing director of the Suzlon Group, believes that the tailwinds in the sector will help the company to move ahead. It expects to to exit corporate debt restructuring process in the next 3 months. Suzlon currently has more than 35% of ... Read More »

India to become major wind energy hub: Suzlon Chairman Tulsi Tanti

According to reports, falling tariff is not the only trend that renewable energy is witnessing. Suzlon, the domestic market leader in wind equipment manufacturing, expects global vendors to come to India to tap 60 gigawatts (Gw) of additional wind capacity that the government is aiming to achieve by 2020. In an interview to Business Standard, Tulsi Tanti, chairman and managing director, Suzlon, said, “India will be a large hub for wind manufacturing in five years on the strength of its ... Read More »

‘Better payment guarantee can bring down wind power tariffs further’

According to reports, assurances of timely payments from power distribution companies will push wind power tariffs down further, according to industry watchers. Chairman at the Indian Wind Turbine Manufacturers Association, Sarvesh Kumar, said, “A better payment guarantee mechanism will push tariffs down further.” He was speaking at a press conference on the sidelines of Windergy India 2017. Power prices crashed to ₹3.46 a unit in the country’s first ever auction of wind energy projects this year. The association released its ... Read More »

Green Investment Bank may invest in Lightsource India

According to reports, in a sign of growing overseas investor interest in the Indian clean energy space, UK Green Investment Bank Plc. (GIB) plans to become an anchor investor in the Indian operations of UK-based Lightsource Renewable Energy. This comes in the backdrop of a Macquarie-led consortium agreed to acquire GIB from the UK government for £2.3 billion last week. Lightsource Renewable Energy is among the largest global solar power project developers and announced its plans to develop 1,000 megawatt ... Read More »

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