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India government earmarks Rs 15 bn for solar projects over next two years

As readers of Panchabuta are aware,  Ministry of New and Renewable Energy (MNRE) has formulated a scheme on financing of off-grid and decentralised solar (Photovoltaic and Thermal) applications as part of the Jawaharlal Nehru National Solar Mission(JNNSM). The scheme provided for routing the capital subsidy and the interest subsidy on bank loans availed by the clients from the banking system for solar energy conversion/ user systems and devises under this scheme through National Bank for Agriculture and RuralDevelopment (NABARD). “The Capital ... Read More »

Renewable regulatory fund to promote wind energy projects says Dr. Pramod Deo-Chairman, Central Electricity Regulatory Commission (CERC)

According to reports, The government will create a corpus out of penalties paid by state-run power distribution utilities to promote wind energy projects of 10 MW or more capacity. The Central Electricity Regulatory Commission (CERC) has approved the fund, its chairman Pramod Deo said. The renewable regulatory fund would bear charges imposed on states hosting wind projects that fail to comply with their energy supply commitments to the electricity grid, he said. At presently, wind projects without power sale arrangements ... Read More »

International Finance Corporation (IFC) to invest $30mn in Andhra Pradesh-based Shalivahana Green Energy

According to reports, the International Finance Corporation (IFC) has announced corporate equity financing of up to $15 million (around Rs 69 crore) to Andhra Pradesh-based Shalivahana Green Energy Limited (SGEL), a privately owned entity producing power based on biomass. The fund would be used by the company for its projects. IFC would also provide up to $15 million in project debt financing to Rake Power Ltd (RPL), a fully owned subsidiary of SGEM, for its 2×23 Mw biomass project. The ... Read More »

Abu Dhabi Investment Company to set apart $1 billion for India-target power and renewable energy

As Panchabuta has earlier discussed, most of the fund-raising in Renewable Energy and Cleantech in India is happening in mega project developments.  There again, there are two different trends that are emerging. One is the funding of green power developers like Orient Green Power Limited, AuroMira Energy etc. There are also domain specific IPP’s emerging like Azure Power in Solar, Wind farm IPP developers like Caparo Energy and a number of Small Hydro focused developers. Panchabuta has talked about this trend in detail ... Read More »

IFC and Gujarat Energy Research and Management Institute to design and structure a distributed-rooftop solar-power project

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries.  As Panchabuta had mentioned last month, IFC is planning to provide $50 Mn loan to PTC India Financial Services Ltd (PFS), which will be used for lending to companies and projects in the renewable energy space in India. IFC hasbacked a number of IPPs in India including Auro Mira Energy,  Husk Power Systems, Azure Power and Shalivahana Green ... Read More »

Power Finance Corporation to create wholly-owned subsidiary for the renewable energy sector-boost to National Solar Mission

As Panchabuta had reported earlier,Power Finance Corporation (PFC) of India announced the formation of a  subsidiary to focus on renewable energy projects and their funding in November last year.  Power Trading Corporation( PTC) has entered into PPA with a number of biomass project developers including Clenergen for their 18MW biomass project and Lakshmi Energy and Foods (LEF) for their 30MW rice husk project in Punjab. As Panchabuta had mentioned last month, IFC is planning to provide $50 Mn loan to ... Read More »

Hybrid Solar cell phone tower-success of India-US clean technology partnership-says Lael Brainard, US Under Secretary of Treasury for International Affairs

As Panchabuta has reported a couple of months back, the U.S. was aggressively trying to push  India to lift solar import restrictions on Jawaharlal Nehru National Solar Mission. The mandatory use of domestic content for utility scale grid connected solar power  is a topic that has witnessed a lot of debate and there have been strong views on both for and against the same sometimes from two group companies each on one side of the same corporate house like Tata BP Solar for ... Read More »

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