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US-based Evergreen Power in talks to raise $100 mn for India

According to reports, US-based Evergreen Power is in talks with investors, including private equity, infrastructure funds and strategic investors, to raise up to $100 million in equity to ramp up its wind energy projects in India, its top executive told ET. The company wants to bring 280 megawatts (MW) of wind energy online in the next 12 months in the states of Tamil Nadu, Karnataka and Madhya Pradesh. Eventually, it aims to scale up wind energy production capacity to 1 gigawatts ... Read More »

Renewable energy companies in Tamil Nadu in a spot

According to reports, about 200 MW of wind and solar power plants in Tamil Nadu are in the danger of losing incentives because the State government has been unable to appoint a person to the post of Chief Electrical Inspector to Government (CEIG). Power projects set up in the State cannot begin to operate unless the CEIG gives the Safety Certificate. After V Jayavel superannuated from service on February 28, the post fell vacant. The problem wind and solar developers ... Read More »

Karnataka mulls competitive bidding for wind power

According to reports, after the success of the recent central government-sponsored auction of wind power capacity, Karnataka is looking to do the same. Wind power companies have always sold energy at rates fixed by the respective State electricity regulatory commissions, and these feed-in tariffs have ruled around ₹4.50 a kWhr. Tamil Nadu, the windiest state, pays ₹4.16 a kWhr.However, in the country’s first tariff-based auctions, held last month, the market-determined tariffs slid to as low as ₹3.46 a kWhr. This ... Read More »

Annual conference on wind energy in Delhi next month

According to reports, the Indian Wind Turbine Manufactures Association along with the Global Wind Energy Council will host the annual conference on wind energy ‘Windergy’ in New Delhi next month. Secretary General of the Association D V Giri said here that the issues facing the industry will be discussed at the conference, where experts of international repute will address sessions. The three-day conference will be held from April 25-27. The event will bring together key government authorities, manufacturers, service providers, ... Read More »

Sembcorp Says India Payment Delays Raising Developer Costs

According to reports, Sembcorp Industries Ltd. said recurring payment delays by Indian electricity retailers are piling on costs to operators and are bad for the renewable power business it wants to build. Payment delays risk “affecting development of the sector,” Sembcorp India Chief Executive Officer Vipul Tuli said in an interview in New Delhi. The local unit of the Singaporean conglomerate, which last month won an auction to supply wind power in India, already has $4 billion of energy assets ... Read More »

Inox Wind looks to sell its stake in new project

According to reports,  Inox Wind Infrastructure Services Ltd., one of the four winners of the first wind power auction held in October, is already looking to sell a stake in the 250 MW project it was awarded, people familiar with the development said. Several buyers have shown interest, with ReNew Power, which lost out in the auction, close to clinching a deal. Neither ReNew Power nor Inox Wind was willing to comment on the matter. Inox won the bid quoting ... Read More »

Turbine companies to see how the wind blows

According to reports, as the Union government added a chunky 1,000 MW of capacity to the wind power market through the auction held last month, the fight for a share is playing out like a ball of meat tossed into a crocodile pond. Four companies — Sembcorp, Ostro, Mytrah and Inox — won mandates to set up 250 MW each and sell power to the public sector Power Trading Corporation, at a record low tariff of ₹3.46 a kWhr, in the ... Read More »

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