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Mytrah Energy raises $70m of new debt

Mytrah Energy has raised $70m of new debt from Merrill Lynch International and funds managed by affiliates of Apollo Global Management. The new finance takes the form of an INR 3,977m (about $65m) India-listed non-convertible bond issued by Mytrah Energy (India) Ltd., and a $5m loan to Mytrah Energy Ltd. The Bond is a long-term 5-year instrument with a cash coupon of 12% per annum. The proceeds from this issue will be used primarily to refinance an existing INR 900m ... Read More »

Proactive Government Policy Can Double Wind Energy Market Instantly: Gamesa

According to reports, Spanish energy major Gamesa has pointed out that a proactive government policy on Wind energy could instantly double the market for Wind energy generation, from 2500 MW to 5000 MW, in the country. The market leader in wind turbine manufacturing in the country is also planning to invest over 100 million Euros in India in the next five years. Speaking to reporters while inaugurating a new production line for their G114-2 MW turbine in Mamandur, Gamesa Group’s ... Read More »

Railways to set up 26 MW windfarm

According to reports,  Railways, one of the biggest consumers of energy, is moving towards harnessing green power with a 26 MW windmill proposed to be built in Rajasthan. The project, the biggest renewable energy initiative by the national transporter, is to be set up in Jaisalmer at a cost of Rs 150 crore and targeted to be completed in about nine months. “We.. Have to explore new and renewable sources of energy for our energy basket,” Railway Minister Suresh Prabhu ... Read More »

India is the second largest market for Gamesa: Ignacio Martin

According to reports, Spanish wind turbine maker Gamesa expects to reach a wind turbine output of about 700 MW in India this year, up from 400 MW in 2013. The company’s chairman Ignacio Martin was in Chennai to launch a new production line at the company’s plant in Mamandur, near Chennai to manufacture larger G114-2.0 MW machines, which are expected to be launched in 2015. He spoke about his company’s India plans with T E Narasimhan. Edited excerpts: How do ... Read More »

SunEdison to enter Indian wind energy market

According to reports, the US solar major, SunEdison, will enter the Indian wind energy market, Pashupathy Gopalan, who heads the company’s Asia-Pacific operations, told Business Line on Wednesday. He said this while answering a question on SunEdison’s possible wind foray in India, in the context of the announcement made by the company on Monday in the US that it had acquired First Wind, a company that is building a 521 MW wind farm in the country. “We are working on ... Read More »

Inox Wind to invest Rs.300 crore in Madhya Pradesh

According to reports, two major companies, Cadila and Inox Wind, have drawn up plans to make big investments in Madhya Pradesh. Cadila, which plans to invest about Rs. 500 crore to set up a pharmaceutical unit in the newly developed industrial area in Jhabua district, has been allocated 95-acre land by the state government while Inox Wind, which eyes investment of more than Rs. 300 crore in setting up wind energy equipment plant in Barwani district has been allocated 42-acre ... Read More »

ITC wind farms in AP caught in ‘cross fire’

According to reports, wind energy farms set up by ITC Limited are caught in the ‘cross fire’ between Andhra Pradesh and Telangana over wheeling issue. The diversified corporate house, which has set up a series of wind farms to meet its internal requirements, is forced to pump the power generated into the grid for the past few months as there is lack of mechanism to wheel the power to its manufacturing units. As a result, it has supplied renewable energy ... Read More »

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