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KfW to sign agreement with NTPC to lend $100mn for 15MW Solar Thermal project in Rajasthan

Panchabuta  had reported last month that German government-owned development bank KfW plans to lend 800 million euros in the 2011-12 calender year to finance various renewable energy projects in India. “We have already financed around 1.5 billion euros in the energy sector in India. In addition to this, we plan to earmark another 800 million euros to fund the green initiatives of India this year (CY”11),” KfW Director Oskar von Maltzan had told PTI. The German government is keen to promote ... Read More »

Global Ecology Executes LOI for 6MW Solar Thermal project in India with Esoft Informatics

Global Ecology Corporation (Symbol GLEC: OTCQB), announced today that it has executed a Letter of Intent with Esoft Informatics, Pvt. Ltd., of Noida, India for the development of a thermal solar energy project in India. Under the terms of the agreement, Global Ecology will form a U.S. subsidiary, GEC Energy Corporation, to be jointly owned by Esoft and Global Ecology. Upon completion of definitive documents, GEC Energy Corporation will be assigned the rights to a $25 million Standby Letter of Credit from a AAA ... Read More »

India ranked second in Solar index and third in Ernst & Young All Renewables Index

India stands third tied with Germany behind China and the United States of America, in Ernst & Young’s Country Attractiveness Indices for the world renewables market. According to the report, the Indian solar market has benefited from an amended RPO and other financial support. Interestingly, India scores better than China and Germany in the solar index only behind USA. India continues to remain in the fifth position in Wind, behind China, UK, USA and Germany.   Panchabuta had discussed in detail ... Read More »

Bidding for 296MW of Solar PV likely to start in April-Anil Agarwal, CEO of NTPC Vidyut Vyapar Nigam

As Panchabuta has earlier mentioned, the Solar PV space in India is getting very interesting.  37 developers have been shortlisted in the first phase of National Solar Mission for a total capacity of  620 MW. Also as Panchabuta had reported earlier this year that all but one of the shortlisted developers have signed their PPA’s and this leaves us at an interesting stage where the projects need to achieve financial closure and complete execution within stipulated timelines.  The bidding for the first stage of  first phase ... Read More »

“Ministry of New and Renewable Energy wants the Jawaharlal Nehru National Solar Mission to succeed-Projects will be financed” says Dr. Ashvini Kumar,Director

“Ministry of New and Renewable Energy wants the Jawaharlal Nehru National Solar Mission to succeed-Projects will be financed”, said Dr. Ashvini Kumar, Director, MNRE speaking to the audience at the 3’rd Renewable Energy Conference in Hyderabad last week. Dr. Ashvini Kumar was moderating a session on  “India: The dawn of a new solar superpower”. There were a lot of developers in the audience that brought up the difficulty of financing the solar projects. Further, with the timelines of financial closure ... Read More »

Solar Developers express mixed reactions on budget announcements

In a major announcement for the EV community, presenting the General Budget 2011-12, Shri Pranab Mukherjee, Finance Minister informed that to provide green and clean transportation for the masses, a National Mission for Hybrid and Electric Vehicles will be launched in collaboration with all stakeholders. Some of the other highlights in the budget include: Full exemption from basic Customs Duty and a concessional rate of Central Excise Duty is proposed to be extended to batteries imported by manufacturers of electric ... Read More »

BHEL to have JV with Bharat Electronics Ltd to set up 250MW Solar PV manufacturing facility at a cost of Rs.30-40bn

BHEL is the largest engineering enterprise of its kind in India and one of the foremost companies in the international power arena. While its core competence is in the power sector, it also caters to other core sectors like; Industry, Transportation, Transmission, Oil & Gas, Defence and Renewable Energy. Its diverse manufacturing base supported by contemporary and unique manufacturing facilities gives it a competitive edge. With a product portfolio of over 180 products, BHEL has its foot print in over ... Read More »

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