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Welspun’s Maharashtra project remains stuck between start and scuttle

According to reports, When Welspun Energy sold its renewable energy portfolio to Tata PowerBSE -0.06 % in June 2016, one solar project was left out of the deal. This 100 MW project is now the centre of a spat between Welspun Energy and the Solar Energy Corporation of India (SECI), with Welspun getting a stay order from the Delhi High Court in late April to prevent SECI from cancelling the deal and encashing its bank guarantee of Rs 30 crore. Welspun ... Read More »

Wind power competitive bidding will reduce tariffs, squeeze returns: CRISIL

According to reports, competitive bidding in the wind power sector would change the market landscape leading to a sharp reduction in tariffs, pressure on returns across the value chain, and consolidation of the market towards independent power producers, according to research and ratings agency CRISIL. According to its report released today, under-construction capacities without Power Purchase Agreements (PPAs) are the most at risk. “To compete in bids, developers are likely to put pressure on wind power original equipment manufacturers (OEMs), ... Read More »

PNB gets $100 mn from ADB for solar rooftop fund

According to reports, state-owned Punjab National Bank has received USD 100 million (about Rs.645 crore) as the first tranche of ADB’s multi—million dollar funding for installation of rooftop solar systems in India. The USD 100 million loan agreement signed between the Asian Development Bank and PNB is backed by a guarantee from the central government. PNB will deploy this fund as loan to various developers and end users to install large solar rooftop systems on industrial and commercial buildings throughout ... Read More »

Tata Cleantech gets Rs200 crore from Tata Capital, World Bank’s IFC

According to reports, Tata Cleantech Capital Ltd (TCCL), a joint venture of Tata Capital Ltd and World Bank arm International Finance Corp. (IFC), has raised Rs200 crore (about $31 million) from its promoters to grow its loan book, a senior company executive said. Tata Cleantech is a non-banking finance company (NBFC) that funds renewable energy projects across assets such as solar, wind, small hydro and biomass, as well as other green businesses such as energy efficiency and water treatment. TCCL, ... Read More »

French company Engie likely to invest Rs 6,500 crore in solar energy in India

According to reports, Engie, the French power giant with a global installed capacity of 115.3 gigawatts across all forms of energy, expects to invest a minimum of $1 billion (about 6,500 crore) in the solar segment in India over the next five years. “$1 billion is the bare minimum,” said chief executive Isabelle Kocher said. “We intend to win 400 MW a year, which means an investment of almost half a billion annually. It is a highly capital-intensive business.” But it all ... Read More »

Hitachi enters Indian solar market with CleanMax Solar

According to reports, Japanese electronics and instrumentation major Hitachi High-Technologies Corporation has announced its entry into the Indian solar market, in collaboration with Mumbai-headquartered CleanMax Solar India. The two companies will “jointly offer high-end rooftop solar solutions to Japanese companies across India.” CleanMax Solar’s Managing Director, Kuldeep Jain, told BusinessLine today that the MoU is “the first step towards a long term partnership structure”. At this point in time, the two companies are operating on a “pre-agreed profit sharing model,” Jain ... Read More »

Orient Green Power: Posts strong FY17 financials; Climbs over 3%

According to reports, Orient Green Power stock marched over 3% on the first half of Thursday’s intraday trade on BSE at Rs 8.84 per share. The company reported its FY17 financials today which reported, Revenues higher by 13%, EBITDA grows 37% to Rs. 293 crore EBIT increases 15.5 times to Rs.125 crore EBITDA at Rs. 293 crore in FY17 The stock in today’s intraday trade attracted a trading volume of 1,64,976 shares and a traded value of Rs 14.90 lakhs on ... Read More »

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