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In 10 yrs, renewable sources will dominate half of India’s energy capacity

According to reports, non-fossil fuels–renewables, nuclear and large hydroelectric power plants–will account for more than half (56.5%) of India’s installed power capacity within the 10 years to 2027, according to a draft of the third National Electricity Plan (NEP3) released in December 2016. The draft notes that if India achieves its target to install 175 gigawatts (GW, which consists of 1,000 megawatts) of renewable energy capacity by 2022–as it has committed to under the 2015 Paris Agreement–it will not need ... Read More »

MP signs 750MW Rewa solar project deal

According to reports, in a major boost for clean energy, the Madhya Pradesh government has signed an agreement for its 750 MW Rewa Ultra Mega Solar Limited (RUMSL) project, the International Finance Corporation (IFC) said on Monday. The project, which is expeccted to generate clean energy at a record low of Rs 3.30 per unit, will be functional by next year. The project will supply power to the Delhi Metro and Madhya Pradesh Power Management Company.  A World Bank constituent, ... Read More »

IREDA raised Rs 700 crore from Green Masala Bond in March

According to reports, Indian Renewable Energy Development Agency (IREDA), the non-banking financial arm of the ministry of new and renewable energy, raised Green Masala Bonds worth Rs 700 crore from the domestic market in March this year, a company official said. In addition, IREDA also plans to raise $ 350 million Green Masala Bonds at the Singapore stock exchange and the London stock exchange. “In March we have already raised around Rs 700 crore from the domestic markets. This year we ... Read More »

Dark side of solar success: It may kill thermal power, banks

According to reports, the latest solar power auction has yielded an electricity price of just Rs 3.15unit, down from Rs 5 two years ago. This seems competitive with coal-based thermal power. The government has raised its solar capacity target to 40GW by 2020 and 100GW by 2030, up from 12GW today. This promises to replace dirty coal-based power by cheap, renewable power. What’s not to like? Plenty. Solar power has many hidden subsidies. Its true cost is far higher than for ... Read More »

Orient Green Power jumps over 7% in two sessions

According to reports, Orient Green Power Company rose 3.35% to Rs 10.50 at 14:57 IST on BSE, stretching previous session’s gain triggered by the company extending exclusivity pact with IL&FS for merger of wind businesses. Meanwhile, the S&P BSE Sensex was down 44.83 points, or 0.15% to 29,416.62. On the BSE, 9 lakh shares were traded in the counter so far, compared with average daily volumes of 1.39 lakh shares in the past one quarter. The stock had hit a ... Read More »

Three-layer safety mesh brings down Rewa solar power tariffs

According to reports, India’s solar power tariff saw a new dynamic with Rewa Ultra Mega Solar Ltd (RUMSL) getting a rate of ₹3.30 per unit raising questions on how this was achieved for the otherwise expensive green power. This was achieved by working through the contract in such a way that it becomes beneficial for all — developer, procurer and the consumer, said Bhanu Mehrotra, Global Sector Lead for PPP Advisory on Solar, International Finance Corporation. IFC is the lead ... Read More »

GST slab: Will it be breeze or blaze for players in wind and solar sectors?

According to reports, players in the solar and wind energy sectors are in fix over the tax slab they may fall under the Goods and Services Tax (GST) regime. Currently, the effective tax rate on wind energy is 8.5 per cent, and that on solar energy generated from imported panels is close to 1.5 per cent. According to Harpreet Singh, Partner, Indirect Tax at KPMG India, “The government is likely to put renewable energy under the 5 per cent slab ... Read More »

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