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Mittal plans 600 MW solar farm in Karnataka

According to reports, the world’s largest steelmaker ArcelorMittal may set up a solar farm on land allotted to it for the proposed 6 MT Karnataka project in view of excess global steel capacity and delays in securing raw materials. It had entered into a pact with Karnataka government for setting up a 6 million tonne steel plant with a captive 750 MW power plant at an investment of ₹6.5 billion. “In view of excess capacity of steel world-wide and uncertainty ... Read More »

Solairedirect raises Rs 675 crore from IDFC Bank

According to reports, IDFC Bank is creating a renewable energy niche in loans, sanctioning Rs 675 crore to a Rajasthan-based solar power project owned by French company Solairedirect. The deal could be an early sign of a revival in lending in India, especially after growth in industry credit hit a 62-year low of 5.1 per cent year-on-year for 2016, down from 10.6 per cent last year. Emails sent to IDFC Bank remained unanswered at the time of going to print. Gaurav ... Read More »

Cabinet clears ₹8,100 cr to double solar parks capacity to 40GW

According to reports, enthused by the response it got in Madhya Pradesh, the Centre has decided to double the capacity target to be achieved by solar parks by 2019-20. The Cabinet Committee on Economic Affairs on Wednesday approved reworking of the scheme for development of solar parks and ultra mega solar power projects as well as enhancing the capacity from 20,000 MW to 40,000 MW (or 40 GW) for the projects. Will abate 55 mt of CO2 The projects will ... Read More »

Madhav Infra Projects to put its 34 MW solar assets up for sale

According to reports,Vadodara-based Madhav Infra Projects has put its 34 MW of solar assets up for sale. The company’s solar business is believed to be worth about R300 crore. Analysts reckon the move marks an incipient trend given that solar firms’ margins are falling to wafer-thin levels, making it difficult for smaller players to be in the business. Confirming the development to FE, Amit Khurana, managing director, Madhav Group, said that with a drop in tariffs for solar projects and ... Read More »

Government colleges set to tap solar power

According to reports,  in order to make college campuses self-sufficient in power generation, the state higher education departmenthas been planning to install solar panels in all universities, government engineering colleges and polytechnics and a few of the government colleges under its jurisdiction. As per the direction from education minister C Raveendranath, these educational institutions will have to submit master plans for solar panel projects in their respective campuses within a month.Among the government colleges chosen as part of the first ... Read More »

Gujarat to develop hybrid project using solar, wind energy

According to reports, at a time when the demand for solar projects is dwindling, the Gujarat Energy Research and Management Institute (GERMI) is developing a hybrid technology using solar and wind energy to generate power. The institute is doing research on developing a hybrid rooftop solar-wind tower amid rising concerns over land utilisation and infrastructure costs. According to GERMI, this will not only improve land utilisation, but also reduce the cost of transmission infrastructure. The institute is planning to conduct ... Read More »

Renewables row: US blocks India at WTO on localisation issue

According to reports, India’s request for a dispute settlement panel against the US for incentivising use of domestic over imported goods in its renewable energy programmes was taken up by the World Trade Organisation on Monday. The move, however, was blocked by the US, which said that it had not flouted norms. “The US’ move of blocking the panel was expected. Now we will have to put in our panel request again. The WTO will have to oblige the second ... Read More »

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