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US-based Evergreen Power in talks to raise $100 mn for India

According to reports, US-based Evergreen Power is in talks with investors, including private equity, infrastructure funds and strategic investors, to raise up to $100 million in equity to ramp up its wind energy projects in India, its top executive told ET. The company wants to bring 280 megawatts (MW) of wind energy online in the next 12 months in the states of Tamil Nadu, Karnataka and Madhya Pradesh. Eventually, it aims to scale up wind energy production capacity to 1 gigawatts ... Read More »

TEDA bids for 50 MW solar power

According to reports, Tamil Nadu Energy Development Agency (TEDA), the State nodal agency for promoting renewable energy, is bidding in Tangedco’s tender for procuring 500 MW of solar power. TEDA has bid for 50 MW capacity in the tender at a price of ₹4.44 per kilo watt hour, making it the second highest in terms of capacity. Rays Power Infra Pvt. Ltd had bid for ₹4.40/kwh for setting up 100 MW capacity, which was the lowest bid against its benchmark ... Read More »

First Solar may sell about 200MW of assets in India

According to reports, American solar panel maker First Solar is exploring the sale of almost 190-200 megawatts (MW) of its solar power assets in India, two people aware of the development said. First Solar is a leading global provider of comprehensive photovoltaic (PV) solar systems and has supplied solar panels worth over 17 gigawatts (GW), globally, according to the company’s website. “First Solar India has been contemplating to monetize its solar power assets of around 190-200 MW and they are ... Read More »

MNRE receives Rs 10,239 cr from NCEF since FY’15

According to reports, the Ministry of New and Renewable Energy (MNRE) has received Rs 10,239 crore from the National Clean Energy Fund in the three fiscals to 2016-17. “From FY 2014-15 up to the current financial year, i.e 2016-17, Rs 10,239.18 crore was allocated from the National Clean Energy Fund (NCEF) to the Ministry of New and Renewable Energy,” Union Power Minister Piyush Goyal said in a written reply to the Rajya Sabha. In addition to NCEF support, Rs 787.53 ... Read More »

Solar power rates have not fallen in the past 18 months: Bridge to India

According to reports, amid widespread talk of falling solar tariffs, a recent study has thrown up a contrary conclusion. “Adjusted for changes in capital costs and other parameters, bids in India have not trended down in the last 18 months,” Bridge to India, a consultancy, said in a report that analysed price trends across major auctions conducted from July 2015 to December 2016. “Harmonised tariffs have stayed reasonably stable around the average level.” The average harmonised price has been Rs ... Read More »

Making power while the sun shines

According to reports, for the residents of Idihalli, a remote village in Tumakuru district of Karnataka, the shimmering 30 Mega Watt (MW) solar farm— that generates 30,000000 volt ampere power—set up in their vicinity is a big surprise. People are happy that they are a part of the first solar farm of India, and are contributing their bit in generation of clean energy. Thanks to the Mumbai-based CleanMax Solar, one of India’s largest rooftop solar power developers, today this solar ... Read More »

First Russian investment in solar sector in Tamil Nadu

According to reports, taking cooperation between Russia and India in renewable energy to a new level, Russian joint venture Miyota Power India and Chennai-based  Al Ameen Green Energy on Mar. 17 signed an agreement for a 100-megawatt (MW) solar photovoltaic (PV) power plant in Virudhunagar, Tamil Nadu. The Russian partner will invest around $80 million in the project. The agreement for financing and EPC (Engineering, Procurement, and Construction) was signed on the sidelines of IESS trade show in Chennai, marking ... Read More »

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