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IFC Invests $2 Mn In Chennai-Based Vortex Engineering

Vortex Engineering, a company focused on developing sustainable products for rural India, decided to develop an ATM to meet this segment’s banking demands. The ATM is powered by solar energy consumes just 4 per cent of the total energy that is required by a conventional ATM to function. It has the capability to serve Indian villages — indicating an opportunity for over half a million ATMs across the country. IIT Madras worked in collaboration with Vortex Engineering to develop a ... Read More »

Standard Chartered, DBS, IFC to Fund Techno Electric Wind Farm

Techno Electric and Engineering Company in May this year had mentioned that they would install 200 megawatt of operating wind assets this June and announced plans to add 100 megawatts a year. Panchabuta had mentioned in February that  Kolkata-based Techno Electric and Engineering Company was in talks with IFC, Standard Chartered Bank and DBS Bank for raising 750 crore of debt to part-finance its 200 mw wind power project in Tamil Nadu. According to reports, Standard Chartered Plc (STAN), DBS Group Holdings Ltd. (DBS) ... Read More »

Godawari Gets Bank Funding for its 50MW Solar-Thermal Plant in India to be built under the National Solar Mission

According to reports, Godawari Power & Ispat Ltd., one of the seven companies that won licenses to build India’s first solar-thermal plants, has arranged funding for its project from the Bank of Baroda. (BOB) The Raipur, Chhattisgarh-based developer won project financing for its planned 50-megawatt solar plant in Rajasthan state, Managing Director B.L. Agrawal said today by telephone. He declined to give details. Godawari Power said in December that it planned to invest 7 billion rupees ($157 million) in the ... Read More »

Asia Pacific Capital invests $15 million for 15% stake in Birla Surya

In August last year, Birla Surya, a a part of the diversified Yash Birla Group (YBG), selected GT Solar to provide its DSS450HP crystallization furnaces for the India’s first integrated PV wafer-cell manufacturing facility in Pune. Subsequently, Birla Surya, has selected GT Solar  for its polysilicon production technology and related engineering services that will be used by Birla Solar that will be used in India’s first large-scale commercial polysilicon production facility located in Chhattisgarh. The company has signed contracts with leading technology ... Read More »

India needs $50 bn for incremental green investment

According to reports, India would require over USD 50 billion for “incremental green investment” to overcome poverty, increase food production to eradicate hunger without degrading land and water resources, and avert the climate change catastrophe, a senior UN official said today. The World Economic and Social Survey 2011, released , shows that governments across the world would need to invest USD 1.9 trillion within the next few years to accomplish “the Great Green Technological Transformation” for addressing a combination of ... Read More »

VCs rethinking strategy for Cleantech in India

As Panchabuta has earlier opined, investors have also shown a lot of interest in the cleantech and clean energy space. According to data from Venture Intelligence, $1.5 billion has been invested by venture capital and private equity firms into clean energy  developers from 2008 to date. Indian Cleantech sector  has witnessed an investment of about $465 million from 2008. According to VC speakers on the Cleantech panel at Venture Intelligence’s APEX conference earlier this year, “Cleantech in India, still remains at a ... Read More »

Wind power takes Oswal Mills to Tamil Nadu, Karnataka

According to reports, Soon after its foray into solar power production, Oswal Woollen Mills Limited is all set to start a project involving wind power. Known for its rich share in country’s hosiery industry, the business house would set up the Rs 60-crore venture in Tamil Nadu and Karnataka. Executive director of Oswal Woollen Mills Sandeep Jain said, ”The company has already signed a memorandum of understanding (MOU) with the government of India for this 10 mega watt (mw) project.” ... Read More »

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