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Wind power reverse auction today, may witness aggressive bidding

According to reports, India’s first reverse auction for wind power by state-run Solar Energy Corp. of India (SECI) on Thursday is likely to see aggressive bidding from wind power firms for the 1 gigawatt (GW) tender, according to companies and consultants. ReNew Power Ventures Pvt. Ltd, one of India’s largest independent wind power producers, expects the bidding to be aggressive and competitive. “Most of the bids have come either for Tamil Nadu or Gujarat, which are high-wind states and therefore ... 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 »

LNJ Bhilwara Group appoints Yes Bank for wind energy portfolio sale

According to reports, in an indication of growing consolidation in the Indian wind energy sector, Ravi Jhunjhunwala’s LNJ Bhilwara Group has put up its wind energy portfolio for sale and hired Yes Bank Ltd to run the process. According to the 2015-16 annual report of Bhilwara Energy Ltd (BEL), the holding company for the group’s power businesses, the company has a wind power project portfolio of 103.5 megawatts (MW). “LNJ Bhilwara Group plans to sell its entire wind project portfolio ... Read More »

Wind power installations may cross 5,000 MW this year

According to reports, Sarvesh Kumar, Chairman of Indian Wind Turbine Manufacturers’ Association, is confident that wind power installations in India will cross the 5,000-MW-mark. The previous high was 3,472 MW of fresh capacity set up in 2015-16. The Association’s General Secretary, D V Giri, is a shade less optimistic. While 5,000 MW is not impossible, he says, upwards of 4,500 MW is certain. Year-end installations 5, 000 MW is a heady number — just two years back the sector struggled to ... Read More »

Suzlon Energy looks to list its maintenance arm to pare debt

According to reports, Suzlon Energy Ltd is exploring the possibility of listing its subsidiary Suzlon Global Services in order to pare its parent’s debt, an official familiar with the development told Moneycontrol.  Suzlon Global Services is a wholly-owned company of Suzlon Structures, which in turn is 100 percent owned by Suzlon Energy. “The IPO will make Suzlon Global debt-free,” the official said, adding the company could look to raise Rs 2,000 crore via the issue. The official said Suzlon Global would ... Read More »

Inox Wind Infra to raise Rs 195 crore via NCDs

According to reports, Inox Wind Infrastructure Services, a wholly owned subsidiary of Inox Wind, has issued non-convertible debentures worth Rs 195 crore on a private placement basis. “The NCDs will carry a coupon rate of 8.33 per cent (payable semi-annually) and are guaranteed by the company,” the company said in a regulatory filing. The proceeds from the NCDs will be primarily used to finance the replacement capex, fresh capex, replacement of existing loans (including inter corporate deposits and optimally convertible ... Read More »

Suzlon Energy set to sell stake in 130 mw projects

According to reports, Suzlon Energy has divested 49% stake in solar power projects totalling 210 mw and is in advanced talks to sell stake in another 130 mw projects in a deal that the company aims to close before March, said Kirti Vagadia, group chief financial officer. The company had divested 49% in six projects totalling 210 mw to raise Rs 176 crore. Further stake sale could potentially fetch the company another Rs 110 crore. Wind turbine maker Suzlon announced its ... Read More »

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