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Suzlon Energy raises $150 mn FCCB- conversion price at Rs. 54.01/sh

As Panchabuta had reported in may last year, Suzlon restructured part of its US$500 million (Rs. 2,235 crore today) outstanding FCCB (Foreign Currency Convertible Bonds), due in fiscal 2012, resetting the conversion price at Rs. 92 a share. FCCBs worth about US$35 million are coming up for redemption in 2012. Since, they had gone on record stating that they expected 2010 to be a down year for wind, as companies in Europe were postponing orders, as the debt crisis makes it ... Read More »

IFC shifting focus to India-National Solar Mission heating up interest in Clean and RenewableEnergy:Thomas Davenport,South Asia Director,IFC

As Panchabuta had earlier mentioned, World Bank  and International Finance Corporation (IFC), have mentioned that they will double loans given to renewable energy projects to $2 billion (Rs9,103 crore) in the next three years in India. Further, the lending will primarily be for power generation and energy efficiency projects. The World Bank largely funds government projects while the IFC caters to the private sector. As readers of Panchabuta are aware, IFC has been one of the most active investors in the ... Read More »

Japan Bank for International Cooperation signs $200mn loan with ICICI India to finance renewable energy, energy efficiency projects in India

Panchabuta had mentioned in December last year that, Japan Bank for International Cooperation (JBIC) is looking at providing equity funding to private sector projects in India instead of debt support for public sector entities. The principal Japanese overseas funding agency is also shifting its focus on the Indian market from China following political tensions with its Asian neighbour. Earlier in February this year, Panchabuta had mentioned that the Japan Bank for International Cooperation (JBIC) that is looking at providing equity ... Read More »

Clean Energy investment increased 25% in 2010 to $4 billion ranking India 10’th among the G-20 countries-research by The Pew Charitable Trusts

Global clean energy finance and investment grew significantly in 2010 to $243 billion, a 30 percent increase from the previous year. China, Germany, Italy and India were among the nations that most successfully attracted private investments, according to new research released by The Pew Charitable Trusts.   China continued to solidify its position as the world’s clean energy powerhouse. Its record $54.4 billion in investments in 2010 represents a 39 percent increase from 2009. Germany was second in the G-20, ... Read More »

Esoft yet to achieve financial closure for Solar CSP project:Global Ecology Corporation issues update

As Panchabuta has earlier mentioned, Esoft currently has a memorandum of understanding (MOU) for the building of a 6 megawatt solar power plant. Esoft will assign the MOU to GEC Energy Corp. and provide the necessary financing. To launch the project, Esoft and its affiliate, Rubious Industries, have received working capital lending terms from a prime bank for a credit facility in the amount of $2.5 million. GEC Energy Corp. also will market Global Ecology’s environmental restoration technology throughout India. In addition, the chairman of ... Read More »

Kyuden International Corporation, Japan gets approval to set JV company to invest in renewable energy power projects in India

As Panchabuta has reported in November last year, NTPC has signed a joint venture with Asian Development Bank (ADB), Kyushu Electric Power Japan to set up 500MW renewable power in 3 years in India. Under the joint venture agreement, ADB will invest up to 40 million dollars for a 25 percent stake in the company. The move is part of ADB’s goal of investing two billion dollars a year in renewable energy and energy efficiency projects in Asia and the Pacific to help put ... Read More »

DLF would need to resort to non-operational funding sources such as the sale of non-core assets like wind power business among others- Aatash Shah, Nomura Financial Advisory

DLF had created a separate subsidiary called DLF Wind Power for its wind energy business as a precursor to sell its wind assets. The subsidiary DLF Wind Power had been placed in the market some time in March-April last year to enable it divest it’s non-core business and help with its debt repayment. At that time, the company was being  advised by Ernst & Young  in this regards and the initial names doing the rounds included BG Group Plc,  Hong Kong-based ... Read More »

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