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Macquarie to acquire solar power assets of Hindustan Powerprojects in $600 mn deal

According to reports, an infrastructure fund of Australia’s Macquarie Group Ltd has agreed to buy about 330 megawatts (MW) of operational solar assets from power producer Hindustan Powerprojects Pvt. Ltd for an enterprise value of $600 million, said two people familiar with the discussions. The deal, which will give Macquarie an entry into India’s renewable energy sector, is in an advanced stage of completion and an agreement has been signed, these people said, asking not to be named as the ... Read More »

Tata Cleantech Capital funds the largest private solar rooftop system in Mumbai

According to reports, Tata Cleantech Capital Limited (TCCL) – a joint venture between Tata Capital Limited and International Finance Corporation (IFC), has funded the solar rooftop project at the National Centre for Performing Arts (NCPA), established and installed by Avesta Solar Private Limited (ASPL), in Mumbai. TCCL, the sole lender, disbursed a total of Rs. 2.36 crore to this project; the largest solar rooftop project in Mumbai. Due to the close proximity to the sea, the team had to anticipate ... Read More »

SB Energy commissions 350 MW solar project in Andhra Pradesh

According to reports, SB Energy Holdings today announced the commencement of commercial operation of its 350 MW solar power plant in Andhra Pradesh. “It is the first operational solar power plant delivered under the Solar Parks scheme of the Jawaharlal Nehru National Solar Mission,” SB Energy Holdings Ltd said in a statement. The plant commenced operations on March 29, 2017 and was completed 51 days ahead of the scheduled date agreed in the PPA (power purchase agreement), the statement added. ... Read More »

India’s solar power capacity crosses 12 GW

According to reports, India added 5,525 MW solar power generation capacity last fiscal, taking the total from this clean source to 12,288 MW. The country has abundant solar power potential which has been estimated to be 748 GW, New & Renewable Energy Minister Piyush Goyal stated in a written reply to Rajya Sabha today. It had achieved total cumulative solar power generation capacity of 6,763 MW in 2015-16. The capacity was 1,686 MW in 2012-13 which increased to 2,632 MW in ... Read More »

Ireda to give Rs 13,000 crore loans for renewable sources, including solar

According to reports, Clean energy projects in the country can look forward to  loans to the tune of Rs 13,000 crore from Indian Renewable Energy Development Agency (Ireda) in the next financial year. With the government planning to add 15-16 GW of clean energy projects, including solar and wind, there would be total credit market size of around Rs 65,000 crore. According to Ireda Chairman K S Popli, Ireda would be able to release around Rs 8,000 crore for these clean energy ... Read More »

Fortum India to add 250MW solar power capacity every year

According to reports, Finnish state-run utility Fortum Oyj’s India unit, which last year drove down solar power tariff to a new low, will set up at least 250 megawatts (MW) of solar capacity in the country every year, managing director Sanjay Aggarwal said. The local unit of Fortum will also enter the waste-to-energy sector and launch charging stations for electric vehicles to gain a larger hold in India’s renewable energy sector, Aggarwal said. Exactly a year ago, Fortum said it ... Read More »

India’s solar energy capacity expanded by record 5,525 MW

According to reports, India’s solar energy capacity has expanded by a record 5,525.98 MW in 2016-17, according to the latest figures provided by the ministry of new and renewable energy (MNRE). In comparison, India had added 3,010 MW of solar capacity in 2015-16, which shows that growth nearly doubled over the past year. Cumulative solar capacity currently stands at 12,288.83 MW, against 6,762.85 MW at the end of March 2016. Officials said the ministry has strived hard to expand solar power ... Read More »

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