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Renewable energy firm Bhoruka Power in talks to raise $120m

According to reports, Hydro and wind power producer Bhoruka Power Corp. Ltd is looking to raise about $120 million in equity investment and use the money to increase renewable energy capacity to 1 gigawatt (GW) by 2020, said managing director S. Chandrasekhar. Bengaluru-based Bhoruka Power, which currently has 310MW of hydro, wind and solar power capacity, has hired an investment bank, and negotiations with potential investors are at an advanced stage, Chandrasekhar said over the phone on Tuesday. He declined to ... Read More »

SunEdison to sell stakes in TerraForm yielcos to Canada’s Brookfield

According to reports, SunEdison Inc. took a major step forward in its bankruptcy reorganization, agreeing to relinquish control of its two yieldco units to Canada’s biggest alternative asset manager and clearing up some of the litigation brought by the affiliates. Brookfield Asset Management Inc. agreed to increase its stake in TerraForm Power Inc. to 51%, acquiring the additional shares at $11.46 each, according to a statement on Tuesday. That would give the yieldco a market value of $1.7 billion. The ... Read More »

Inox Group sells operating wind farms to Leap Green Energy

According to reports, Inox Group firms have entered into agreements to sell their operating wind farms to Leap Green Energy and its subsidiaries, on a slump sale basis, for an undisclosed amount. “Inox Renewables (IRL), a wholly owned subsidiary of Gujarat Fluorochemicals and Inox Renewables(Jaisalmer) (IRJL), a wholly-owned subsidiary of IRL, both a part of Inox Group, entered into definitive agreements for sale of substantially all of their operating wind farms to Leap Green Energy (LGE) and its subsidiaries, on ... Read More »

‘Note ban will lead to even lower solar tariffs,’ says president of SunSource Energy

According to reports, with solar power tariffs falling below Rs 3 per unit in auctions last month, a major player in the solar rooftop space says they are on course to fall further given that the recent demonetisation measure has come as a boost to industry because of the availability of cheaper finance. “Demonetisation is helping the industry get cheaper loans,” Kushagra Nandan, President of SunSource Energy, told IANS in an interview. SunSource Energy is a key player in the Indian solar ... Read More »

Suzlon likely to bag 250 MW order from Sembcorp

According to reports, as wind turbine manufacturers vie for a share of the 1,000 MW of capacity auctioned last month, the big buzz in the market is that Suzlon is likely to bag an order for 250 MW from Sembcorp. Four companies – Sembcorp, Inox, Mytrah and Ostro Energy – won mandates to set up 250 MW each and sell the power to the government-owned Power Trading Corporation, at a tariff of Rs. 3.46 a kWhr, in the auctions put ... Read More »

Hatsun Agro commissions 24 MW wind power plant

According to reports, aiming to use power from renewable energy for its business, private dairy firm Hatsun Agro Product today said it has commissioned wind power plants with 24 megawatt (MW) capacity in Tuticorin district in Tamil Nadu. Besides, the company is also likely to commission a solar power plant with 550 kilowatt (KW) capacity this month in Dindigul district in Tamil Nadu. The green energy projects will help Hatsun Agro meet 75 per cent of its power requirements. “The ... Read More »

Gujarat government buys solar power at Rs 15 per unit from 38 firms

According to reports, at a time when solar power costs in the country have fallen to record lows, Gujarat government bought solar power at the cost of Rs 15 per unit from 38 different private producers during the last two years. According to the data shared in the Gujarat Assembly on Friday, the state government said it has bought a total of over 2600 million units of solar power from 61 different solar power developers in the state, during the ... Read More »

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