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India’s blue sky pledge gives power to country’s green bonds

According to reports, green bonds issued by Indian companies are gathering pace as the country’s ambitious target for renewable energy fuels interest from investors. Renewable energy developer Greenko Energy Holdings raised US$1 billion earlier this week, making it the largest corporate green bond issuer in Asia, Bloomberg data shows. It beat MTR Corp’s US$600 million issue in November. Green bonds from India are likely to increase as renewable capacity expands and the market gets bigger, according to Ashish Sethia, head of research and analysis for ... Read More »

IFC subscribes to L&T’s Green Bond to help finance Indian solar

According to reports, the World Bank’s IFC has invested INR6.67 billion (US$103 million) in L&T Infrastructure Finance Company to help finance solar PV in India. IFC did this by subscribing to the green bonds issued by L&T Infrastructure Finance, a wholly-owned subsidiary of L&T Finance Holdings (LTFH) that is also promoted by Indian solar EPC firm Larsen & Toubro. L&T Infrastructure Finance will use the funds to give loans to solar PV projects. Its US$3.51 billion portfolio already has 37% dedicated ... Read More »

Anand Kumar replaces Rajeev Kapoor as secretary MNRE

In a major bureaucratic reshuffle, as many as 17 officials have appointed secretaries at various ministries. New and Renewable Power secretary Rajeev Kapoor has been moved to Department of Chemicals and Petrochemicals as secretary and has been replaced by Anand Kumar, Managing Director National Highways Infrastructure Development Corporation Limited. Read More »

Govt okays IREDAs IPO to boost clean energy

According to reports, the government today approved listing of state-run Indian Renewable Energy Development Agency (IREDA) to help the clean energy lender mobilise more funds for renewable projects. “The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given its approval to issue 13,90,00,000 fresh equity shares of Indian Renewable Energy Development Agency (IREDA) of Rs 10 each to the public on book-building basis through the IPO (initial public offer),” an official statement said. The listing of ... Read More »

Power Ministry Proposes Compensation For Grid Curtailment; Positive For Renewables

According to reports, The government has proposed a compensation mechanism for existing renewable energy projects, which will protect the cash flows to an extent from grid curtailments says India Ratings and Research. India Ratings believes that, if the proposal is adopted this will also ensure a favourable operational environment for renewable energy projects and will be positive for wind and solar energy developers. The absence of clarity on two possible reasons for grid curtailment – “low system demand” and “grid ... Read More »

Shell wants to build renewable energy portfolio in India

According to reports, Royal Dutch Shell is looking at opportunities in India to build its renewable energy portfolio, especially in light of the country’s renewable energy targets to be achieved over the next decade, according to Mark Gainsborough, executive vice- president, New Energies, Royal Dutch Shell. “India has a very ambitious target for the growth of the renewable sector,” Mr. Gainsborough told The Hindu during a clean energy forum organised by Shell during its ‘Make the Future Singapore’ event. “I ... Read More »

Hatsun Agro commissions 24 MW wind power plant

According to reports, aiming to use power from renewable energy for its business, private dairy firm Hatsun Agro Product today said it has commissioned wind power plants with 24 megawatt (MW) capacity in Tuticorin district in Tamil Nadu. Besides, the company is also likely to commission a solar power plant with 550 kilowatt (KW) capacity this month in Dindigul district in Tamil Nadu. The green energy projects will help Hatsun Agro meet 75 per cent of its power requirements. “The ... Read More »

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