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RBI moots priority sector tag for renewable energy

According to reports, a Reserve Bank of India working group has proposed new guidelines for lending to the priority sector with loans to medium enterprises, sanitation and renewable energy sectors coming under the umbrella of the priority sector. The panel which submitted the report to the RBI on March 1, has said the target for lending to the redefined priority sector should be retained uniformly at 40 per cent of adjusted net bank credit (ANBC) or credit equivalent of off-balance ... Read More »

Ramakrishna Mission in Chennai gets a rooftop solar plant

According to reports, the Ramakrishna Mission in Chennai has acquired a new asset—a 100 kW rooftop solar power plant that will generate 14.8 lakh units of electricity, enough to power 90 per cent of the needs of the Mission’s Students’ Home. The plant was donated to the Mission by the US-based renewable energy major, SunEdison, which has extensive operations in India. Surplus energy produced by the plant will be sold to the state electricity utility Tangedco. Pashupathy Gopalan, President of ... Read More »

Discoms want more time to adopt green power

According to reports, the Centre might be pushing for more renewable energy, but Delhi’s power distribution companies do not appear to be in any hurry. While Tata Power Delhi has said in its public notice for determining the 2015-16 tariff that renewable purchase obligations (RPO) should be deferred for the next four-five years, the Reliance discoms—BSES Yamuna and BSES Rajdhani—wants it to be waived off for at least two years. All three discoms said this was critical to control rising ... Read More »

Modi government chants clean energy mantra

According to reports, while emphasising the economic progress in the Budget, Prime Minister Narendra Modi led government also ensured that development should be as green as possible. The government is launching a scheme for Faster Adoption and Manufacturing of Electric Vehicles. Finance Minister Arun Jaitley proposes an initial outlay of Rs 75 crore for the scheme in 2015-16, which was welcomed by electric vehicle makers. Further, the concessional excise duty of 6 per cent on specified goods for use in ... Read More »

More funds, higher cess to go green, get clean

According to reports, The Economic Survey on Friday had said India’s clean energy sector was likely to generate business opportunities of $160 billion in the next five years. And Union finance minister Arun Jaitley on Saturday proposed creation of a national infrastructure investment fund and doubling of coal cess to Rs 200 in the Union budget. “…as environmental degradation hurts the poor more than others, we are committed to make our development process as green as possible,” Jaitley said while ... Read More »

Winds of change hit green energy sector

According to reports, the government has done well so far. Easy finance and guaranteed demand from the utilities will go a long way. India met with huge success on the renewable energy agenda with the recently concluded RE-Invest. The event brought together political and business leaders from the Centre and the States.The Prime Minister put forth a grand vision of reaching the 200 gigawatt target. The huge presence of the Indian and global community at RE-Invest reaffirms that the world ... Read More »

India says clean energy a $160 billion opportunity over five years

According to reports, India’s renewable energy industry is likely to generate business opportunities worth $160 billion in the next five years, the Economic Survey said on Friday, the day before a budget that is set to boost clean energy funding. Prime Minister Narendra Modi is banking on renewables to fight climate change rather than committing to emission cuts like China. He has set ambitious clean-energy targets including raising solar capacity fivefold to 100 gigawatts (GW) by 2022. “It offers a ... Read More »

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