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Suzlon Energy swings back to profit; Posts Rs 543 crore PAT

According to reports, wind turbine manufacturer and solar developer Suzlon Energy Ltd consolidated the turnaround it had shown in its December quarter by posting a profit after tax (PAT) of Rs 543 crore in 2016-17 against a loss of Rs 268 crore in 2015-16. In the March quarter, it had a profit of Rs 268 crore against a mere Rs 15 crore in the corresponding quarter a year ago. In the December 2016 quarter too, it had achieved a PAT ... Read More »

AfDB to discuss solar alliance, export credits with India

According to reports, the International Solar Alliance (ISA), which was mooted by Prime Minister Narendra Modi, and the $10-billion export credits promised by India to African nations are among the major issues that will come up for discussion with Indian officials at the annual meeting of the African Development Bank that begins at Gandhinagar in Gujarat from May 22-26. Modi is scheduled to attend the event on May 23. “The India-Africa forum summit (in 2015) set the tone for a ... Read More »

No impact of GST on renewables, no need for lower taxes: Piyush Goyal

According to reports, with renewables tariff already touching new lows, Power Minister Piyush Goyal today said there was no need for lower taxes to encourage clean energy and the GSTregime will have no impact on power rates. However, the minister is hopeful that lower GST rate of 5 per cent on coal, compared to existing 11.69 per cent, would help discoms provide power at affordable rates. “We don’t need support of lower taxes to encourage renewable energy. By itself, it is ... Read More »

Before sunlight turns shadowy

According to reports, the per unit price of solar power in India has dropped from ₹15 to ₹2.44 in 5 years In fact, it has fallen from ₹4.50 within one year. Has the technology improved so much in the solar sector to facilitate this fall? Has solar become commercially viable and attractive for everyone? Have government incentives enabled this price fall? How much further will prices fall in the next five years? Is this sustainable? If this sector is in ... Read More »

International Solar Alliance to set up $300 bn fund

According to reports, the International Solar Alliance (ISA) is proposing to set up a $300 billion fund to support clean energy projects in member countries over the next 10 years. “The proposal is to strive for 300 billion dollar global fund over 10 year with contributions from the World Bank … and also from Green Climate Fund to leverage $3,000 billion investment from the corporate sector for meeting investment requirement for solar energy programmes and projects in ISA member countries ... Read More »

International Solar Alliance expects 15-nation support to be legal entity

According to reports, Interim Director General of International Solar Alliance (ISA) Upendra Tripathy on Thursday said that the alliance hopes to get a ratification from 15 nations to become a legal international body. “We expect that in the next three-four months we should reach that magic figure of ratification by 15 nations,” Tripathy told IANS on the sidelines of a media briefing here.  “Thirty days after the fifteenth nation puts its instrument of ratification and deposit in Ministry of External ... Read More »

A tricky path to India’s solar-powered future

According to reports, a new tariff war is playing out in the Indian solar power space. Tariffs plunged to a new low of Rs2.44 per kilowatt-hour (kWh) last week during an auction for 500 megawatt (MW) capacity at the Bhadla solar park in Rajasthan. Tariffs in the solar space have declined significantly over the years and have come down from levels in excess of Rs10 per kWh at the beginning of this decade to the present record lows, as capacity ... Read More »

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