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IFC to invest up to $6 billion on energy initiatives in India

According to reports, International Finance Corporation (IFC), a member of the World Bank Group, said on Tuesday that it will invest up to $6 billion in the next five years on various sustainable and renewable energy programmes in India, of which 20% will go in building eco-friendly or green homes in the country, said a top company executive. Jun Zhang, country head, IFC India said affordable and sustainable homes is a key part of the organization’s strategy in India. In ... Read More »

Indian slowdown hits Siemens Gamesa fiscal Q3 revenue

According to reports, Siemens Gamesa Renewable Energy SA (BME:GAM) on Wednesday announced a 7% year-on-year revenue drop for its third quarter to June 30, blaming a “temporary downturn” on the Indian market. Revenues excluding India were up 1.6%. The Spanish-German wind farm equipment manufacturer booked revenues of EUR 2.69 billion (USD 3.15bn) and an underlying net profit of EUR 135 million for April-June 2017. Underlying earnings before interest and tax (EBIT) stood at EUR 211 million, down 21% on the ... Read More »

July witnessed 378,000 non-solar RECs traded on India Energy Exchange

According to reports, a total of 3.78 lakh non-solar renewable energy certificates (RECs) were traded at the India Energy Exchange (IEX) in July. All buy bids were cleared at a floor price of Rs 1,500, IEX said in a statement. “The session in July 2017 saw about 4 per cent increase in trade of non-solar RECs over April 2017 when 3,64,820 were traded and 172 per cent increase over July 2016 session when 1,39,250 traded,” it said. The distribution companies ... Read More »

India’s blue sky pledge gives power to country’s green bonds

According to reports, green bonds issued by Indian companies are gathering pace as the country’s ambitious target for renewable energy fuels interest from investors. Renewable energy developer Greenko Energy Holdings raised US$1 billion earlier this week, making it the largest corporate green bond issuer in Asia, Bloomberg data shows. It beat MTR Corp’s US$600 million issue in November. Green bonds from India are likely to increase as renewable capacity expands and the market gets bigger, according to Ashish Sethia, head of research and analysis for ... Read More »

Finland’s Taaleri looking to buy solar power projects in India

According to reports, attracted by the opportunities in India’s solar energy space, Finland’s Taaleri Plc is evaluating assets for acquisition here. This interest by the Nasdaq Helsinki-listed firm is reflective of the trend wherein overseas firms have led the race on aggressive tariffs to secure renewable energy project contracts in India. Taaleri Solar Wind fund is Finland’s first equity fund to invest in overseas green energy assets. Taaleri’s India playbook follows the investment thesis adopted by other overseas investors such ... Read More »

Future of renewable energy: Sunny investment climate for solar technology in India

According to reports, on May 12, 2017, India recorded its lowest-ever solar tariff of Rs 2.44/unit of electricity. That is a 73% fall since 2010, and compares favourably with India’s cheapest power source–coal, electricity from which now ranges between Rs 3/unit and Rs 5/unit. The new low solar cost was announced at a reverse auction–in which the role of buyer and seller is reversed and the seller with the lowest bid obtains the business–by the state-owned Solar Energy Corporation of India Limited (SECI) at the Bhadla ... Read More »

Engie in talks with Equis Energy to acquire green energy assets in India

According to reports, French energy company Engie is in talks with Singapore-based renewable energy developer Equis Energy to acquire projects from its India portfolio comprising green energy platforms Energon and Energon Soleq, two people with knowledge of the matter said. “Engie is looking to acquire selective assets of Equis Energy,” said one of the persons cited above requesting anonymity. “Given that the sell-off is part of a strategic review of projects across Asia, Equis may prefer someone with a global presence,” ... Read More »

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