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Power Grid to seek shareholders’ nod to raise Rs 13K Cr

According to reports, State-owned utility Power Grid Corporation will soon seek shareholders’ approval to raise up to Rs 13,000 crore from domestic and external sources during the current fiscal. The Board of Directors has approved the proposal to raise Rs 13,000 crore through issuance of bonds, Power Grid said in a BSE filing. The funds to finance the company’s various expansion projects will be raised from domestic as well as external sources through issuance of tax-free bonds under private placement ... Read More »

Essel Group seeking funds for smart-city development plans

According to reports, in January, Essel Group submitted a so-called letter of intent to the government of West Bengal to develop two smart cities and a series of infrastructural and urban development projects for the state, worth Rs10,000 crore. Essel Group, which has business interests in media, entertainment, packaging, infrastructure and technology, among others, is in talks with private equity firms and financial institutions to raise funds to develop smart cities across India. The group is looking for equity and ... Read More »

‘Solar energy, innovation may help end India’s power pangs’

According to reports, decentralized solar energy and power-efficient appliances are the answers to India’s power woes, said Ashok Jhunjhunwala, an Padma Shri award-winner and IIT-Madras professor who gave a lecture on the campus of PEC University of Technology, here on Thursday. The lecture – titled ‘Towards Next-Gen Powering of Indian Homes: Capitalizing on Decentralized Solar Green Energy, Energy-Efficient DC Appliances and Smart-Load Management’ – was organized in the memory of professor Jagdish Kumar Arora, a former faculty member of PEC ... Read More »

MNRE includes Punjab in ambitious ‘Green Corridor’ project

According to reports, Ministry of New & Renewable Energy (MNRE) has agreed to include Punjab in the ambitious “Green Corridor Mission” project on the request of minister of new and renewable energy of Punjab, Bikram Singh Majithia. Punjab will now be in line to receive funds for further strengthening of its transmission and distribution infrastructure to ensure efficient evacuation of solar power to the central grid. Besides this, the Union Ministry has also announced a major roof top solar power ... Read More »

Plan to Integrate North, South Grid

According to reports, Union Minister of State for Power and Coal Piyush Goyal on Saturday said that the Power Grid Corporation of India would invest Rs 30,000 crores for the improvement of transmission facilities that would enable dispatch of power from northern States to southern States. “I think in the next two-and-a-half years or three years, we will see this infrastructure project start taking shape. It will help evacuate power to Southern India and Tamil Nadu which is in the ... Read More »

Brightening the future with the sun and wind

According to reports, The Renewable Energy (RE) Global Investor’s Meet inaugurated by Prime Minister Narendra Modi on February 15 invited participation in funding India’s RE growth ambitions, which include almost 1,00,000 MW of growth in solar power in just seven years (about 40 per cent of today’s total installed capacity) and some 50,000 MW of wind power. This is bold and ambitious to say the least. The event was a success, finding investment commitments for some 2, 60,000 MW of ... Read More »

Punjab’s solar mission wins accolades

According to reports, Punjab’s solar mission was recognized by Prime Minister Narendra Modi on Sunday with the best performing state award in renewable energy capacity building at the inaugural session of the First Renewable Energy Global Investors’ Meet and Expo – 2015 in New Delhi. Congratulating Punjab for promoting renewable energy, Modi emphasised the need to use solar power to better the life of the ordinary man. He stressed on manufacturing equipment needed to create solar power in India to ... Read More »

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