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Greenko upbeat as installed capacity continues to grow- targets operational portfolio of 1000 MW by 2015

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According to reports, Indian energy group Greenko expects full-year results to meet expectations and said that the backdrop for renewable energy in India remains positive. Greenko, which is focused on building new utility scale wind farms and hydropower projects across India, said that trading in the 12 months ended March 31st was “in line” with power generation up 17% at 1,050 GWh. The company said that the early monsoon helped southern hydro generation rise by 43% during the year, while ... Read More »

Suzlon Energy to sell Rs 1,000 crore of non-core local assets

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According to reports, wind power major Suzlon Energy plans to sell Rs 1,000 crore of non-core assets to cut debt, Chairman and Managing Director Tulsi Tanti said today. “We are going to sell Rs 1,000 crore more non-critical assets within the country. This will help us in reducing the piling debt,” Tanti told reporters on the sidelines of a seminar organised by the CII here. Suzlon said yesterday it sold the Big Sky Wind Farm in Illinois to EverPower Wind ... Read More »

Marginal capacity addition casts a shadow over wind energy

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According to reports, is the end of Tamil Nadu’s wind power “growth story” in sight? In a State that witnessed an unprecedented growth in the sector of wind energy not long ago, capacity addition during the just-concluded financial year of 2013-2014 was marginal, with 107 megawatt (MW). The capacity of windmills, which was around 2040 MW in April 2005, rose to 6,971 MW seven years later. This meant an average increase of 616 MW a year. In monetary terms, going ... Read More »

Mytrah Energy to host business plan competition

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According to reports, Mytrah Energy (India) Ltd has announced its move to host Inspiring Solution Business Plan Competition. The competition calls for the best minds across the globe to present their entrepreneurial idea. The best idea will be provided with a seed fund of $100,000 to set up their dream enterprise. Participants can enter one of three categories, individual, start up and team. The competition is open to people above the age of 18 from any vocation or nationality. All ... Read More »

Has the wind changed direction to favour Suzlon?

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According to reports,  wind turbine manufacturers across the globe have been in trouble over the past few years. One of the cleanest source of energy, wind power is heavily dependent on subsidies from government. While some governments (western countries) provided direct subsidy in the form of generation based incentives (GBI), some like the Indian government used to provide indirect subsidy, in the form of accelerated depreciation (AD) benefits to those players setting up wind turbines. A slowdown in the economy ... Read More »

Suzlon Energy sells 240 mw Illinois-based wind farm to EverPower

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According to reports, Suzlon Energy has sold the 240 mw Illinois-based wind farm it acquired recently from Edison Mission Energy to EverPower Wind Holdings. Suzlon had taken over the Illinois wind farm in the US to recover $208 million that was outstanding from client Edison Mission Energy, which the latter had withheld accusing the Indian wind-turbine maker of supplying defective equipment. Suzlon did not disclose the consideration for the sale of the wind farm. The sale may have happened at ... Read More »

Suzlon Energy jumps as German unit signs financing pact

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According to reports, Suzlon Energy surged 5.66% to Rs 14.75 at 9:22 IST on BSE after the firm said its wholly-owned subsidiary has signed an agreement with a consortium of banks for a syndicated working capital facilities of Euro 850 million for the period of 3 years. The announcement was made on Tuesday, 8 April 2014. The stock market was closed on that day, on account of Ram Navami. Meanwhile, the S&P BSE Sensex was up 103.11 points or 0.46% ... Read More »

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