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Tata Power commissions wind farm in Maharashtra

According to reports, private power utility Tata Power on Tuesday announced commissioning of the remaining 8 MW of the 32 MW wind farm at Girijashankarwadi in Maharashtra. “With this commissioning, Tata Power’s total wind generation capacity stands at 470.6 MW,” the company said in a statement. The wind farm is expected to generate approximately 62 million units (MUs) per year which will be procured by Tata Power-Distribution towards fulfilment of its Renewable Purchase Obligations (RPO). With this commissioning, Tata Power’s ... Read More »

Wind power sector readies for consolidation as Govt aims big

According to reports, the re-instatement of tax benefits and generation based incentives for wind power seemed to have brought back the confidence of the independent power producers (IPPs) in the sector. Besides, an increased impetus to ‘Make in India’ has made the sector an attractive investment opportunity all over again. After being deprived of any policy for over a year, the Union Budget 2014 re-introduced accelerated depreciation of 80 per cent for wind power projects. It also approved continuation of ... Read More »

Mytrah Energy shares drop as profit guidance disappoints

According to reports, the share price of Mytrah Energy took a dive on Friday after the India-based power producer guided to profits much lower than the market was expecting. The company said that underlying earnings before interest, tax, depreciation and amortisation (EBITDA) should be “close to $65m” in 2014. This would represent 38% growth from the $47m of operating profits recorded in 2013. However, in a research report back in September, analysts at Investec (LSE: INVP.L – news) had pencilled ... Read More »

Wind energy: is it time for competitive bidding?

According to reports, in its quarter century of existence, the Indian wind energy industry has always sold power at fixed feed-in tariffs, earlier determined by State governments but now by the respective State electricity regulatory commissions. Price discovery through competitive bidding brings down the cost of power, as has happened in solar. Thus, last year, when Rajasthan wanted to bring in ‘competitive bidding’ the industry was in jitters. It breathed easy only when the government changed post-elections. But now, by ... Read More »

Welspun secures Rs 630 crore funding for 126MW wind power project in Rajasthan

According to reports, renewable energy company Welspun Renewables Energy has secured Rs 630 crore of financing for its 126 megawatt (MW) wind power project in Rajasthan. The debt funding had been secured through long-term funding from a consortium of financial institutions and from a major international financial institution, the company said in a statement. The project is slated to be commissioned by June 2015 and the on-ground construction work for the project has progressed ahead of schedule. Once commissioned, this ... Read More »

Winds of change at Suzlon, focus on solar energy

According to reports, after wading through the troubled waters of debt and falling revenues, Suzlon, India’s first and the world’s fifth largest wind turbine energy maker, is bracing for a leap of faith, on several fronts. From investing in solar energy to repowering of old sites to the second generation of the Tanti family taking charge of different business, the company is reorienting. Suzlon, the leading Indian player in the wind energy business, is now looking to expand its portfolio ... Read More »

Wind power producers must competitively bid for selling to Centre

According to reports, the Centre is willing to buy electricity from wind power producers but it will have to be at competitively bid tariffs, said ‎Piyush Goyal, Minister for Power, Coal and New and Renewable Energy. Speaking at the launch of the Indian Wind Energy Alliance, Goyal was commenting on the industry body’s suggestion for increasing demand for wind power to meet the Government’s target of setting up 10,000 MW of wind power capacity every year. IWEA had recommended that ... Read More »

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