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Madhav Infra Projects to put its 34 MW solar assets up for sale

According to reports,Vadodara-based Madhav Infra Projects has put its 34 MW of solar assets up for sale. The company’s solar business is believed to be worth about R300 crore. Analysts reckon the move marks an incipient trend given that solar firms’ margins are falling to wafer-thin levels, making it difficult for smaller players to be in the business. Confirming the development to FE, Amit Khurana, managing director, Madhav Group, said that with a drop in tariffs for solar projects and ... Read More »

Wind power reverse auction today, may witness aggressive bidding

According to reports, India’s first reverse auction for wind power by state-run Solar Energy Corp. of India (SECI) on Thursday is likely to see aggressive bidding from wind power firms for the 1 gigawatt (GW) tender, according to companies and consultants. ReNew Power Ventures Pvt. Ltd, one of India’s largest independent wind power producers, expects the bidding to be aggressive and competitive. “Most of the bids have come either for Tamil Nadu or Gujarat, which are high-wind states and therefore ... Read More »

Faced with challenges, power producers turn to group captive model

According to reports, the more than a decade old group captive model is attracting attention as power producers in the country continue to struggle with idle capacities, lack of long-term power purchase agreements (PPA), low merchant rates and pending dues from the state-run distribution companies. In October 2015, OPG Power Generation Pvt Ltd made a major shift in terms of sales from two of its power plants as it began selling to group captive consumers instead of the Tamil Nadu Generation ... Read More »

LNJ Bhilwara Group appoints Yes Bank for wind energy portfolio sale

According to reports, in an indication of growing consolidation in the Indian wind energy sector, Ravi Jhunjhunwala’s LNJ Bhilwara Group has put up its wind energy portfolio for sale and hired Yes Bank Ltd to run the process. According to the 2015-16 annual report of Bhilwara Energy Ltd (BEL), the holding company for the group’s power businesses, the company has a wind power project portfolio of 103.5 megawatts (MW). “LNJ Bhilwara Group plans to sell its entire wind project portfolio ... Read More »

NIIF to raise Rs 8,000 cr in FY18,fund projects of Rs 16,000cr

According to reports, the National Investment and Infrastructure Fund (NIIF) plans to raise Rs 8,000 crore from various sources to fund projects worth Rs 16,000 crore for the next fiscal. The government has allocated Rs 1,000 crore budgetary support to NIIF which will be leveraged to raise Rs 8,000 crore from strategic anchor partners, namely multilateral and bilateral institutions, sovereign wealth funds, pension funds and domestic public sector enterprises, according to Output Outcome Framework for Schemes 2017-18. This will fund ... Read More »

India’s New Solar Auction Lights the Way to Modi’s Green Targets

According to reports, record low Indian solar tariffs tendered at a groundbreaking auction may catalyze green investments and help tip the balance of new power to renewables and away from fossil fuels.  Solar power in India fell to a record 3.30 rupees (5 U.S. cents) a kilowatt-hour on Feb. 10 after a World Bank-backed auction helped the central Madhya Pradesh state tender 750 megawatts of power. The auction format, which included payment guarantees and was run by the state and central ... Read More »

Suzlon Energy looks to list its maintenance arm to pare debt

According to reports, Suzlon Energy Ltd is exploring the possibility of listing its subsidiary Suzlon Global Services in order to pare its parent’s debt, an official familiar with the development told Moneycontrol.  Suzlon Global Services is a wholly-owned company of Suzlon Structures, which in turn is 100 percent owned by Suzlon Energy. “The IPO will make Suzlon Global debt-free,” the official said, adding the company could look to raise Rs 2,000 crore via the issue. The official said Suzlon Global would ... Read More »

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