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  • Latest Renewable Energy News

    Union Cabinet of India likely to discuss use of Rs. 31.24 billion National Clean Energy Fund

    National Clean Energy Fund was set up to serve as a separate non-lapsable corpus for funding green energy projects with the broader objective of cutting down India’s carbon footprint. Collections for the fund are made from the clean energy cess of Rs 50 per tonne on coal, lignite and peat. Earlier this year there was a  proposal to allocate a sum of Rs. 200 crore from the National Clean Energy Fund as Centre’s contribution in 2011-12 for launching environmental pollution ... Read More »

    Clenergen Closes $8 Million in Working Capital and Project Specific Financing

    Clenergen, based out of Florida is a recent entrant in the biomass based IPP space and has rapidly been signing on new projects. The company in  December last year had announced the signing  of an agreement, to Operate a 27MW  Biomass Power Plant that is expected to be fully operational by first quarter 2011. The company  had earlier entered into an agreement with Yuken India Limited to Install a 4 MW/h Gasification Power Biomass Plant operating on gas engines at their manufacturing facility in Bangalore, ... Read More »

    L&T partners with Sharp to provide turnkey Solar EPC-targets 100MW in 12 months and turnover of Rs 13 billion

    The solar EPC space in India continues to witness unabated news flow.   Just a couple of days back The meeco Group, entered into a joint venture between PV Energy Private Limited (Indian subsidiary of PV Energy Limited, UK) and Soma Enterprise Limited, a leading infrastructure company in India. The joint venture will provide turnkey EPC and Operations and Management services and talked about  50 MWp solar parks in the next three years in India. A week earlier Electrotherm India announced of a ... Read More »

    Suzlon Energy raises $150 mn FCCB- conversion price at Rs. 54.01/sh

    As Panchabuta had reported in may last year, Suzlon restructured part of its US$500 million (Rs. 2,235 crore today) outstanding FCCB (Foreign Currency Convertible Bonds), due in fiscal 2012, resetting the conversion price at Rs. 92 a share. FCCBs worth about US$35 million are coming up for redemption in 2012. Since, they had gone on record stating that they expected 2010 to be a down year for wind, as companies in Europe were postponing orders, as the debt crisis makes it ... Read More »

    Maharashtra to come up with Solar Energy Policy to promote projects of 5MW or more

    As Panchabuta had mentioned in late February, Orissa released its draft solar policy –Solar Odisha-A Vision- Draft Solar policy for Orissa proposed target of 5000MW by 2020. There have some states that have been talking about a policy and a process for bidding out projects including Rajasthan but nothing concrete has emerged as of now. Gujarat is the first state in India to come out with a comprehensive solar policy with targets and implementation mechanisms and is leading in the Solar energy implementation ... Read More »

    Techno Electric (TEECL) commissions 15MW-Phase 1 of 125MW Simran Wind Farm under the Renewable Energy Certificate mechanism in Tamil Nadu

    Panchabuta had mentioned in February that  Kolkata-based Techno Electric and Engineering Company was in talks with IFC, Standard Chartered Bank and DBS Bank for raising 750 crore of debt to part-finance its 200 mw wind power project in Tamil Nadu. The company had plans to invest about 1,150 crore in the wind power project in two phases. The first phase would include a 125 mw capacity and is expected to be commissioned by June 2011 in Tamil Nadu. The second phase will include ... Read More »

    IFC shifting focus to India-National Solar Mission heating up interest in Clean and RenewableEnergy:Thomas Davenport,South Asia Director,IFC

    As Panchabuta had earlier mentioned, World Bank  and International Finance Corporation (IFC), have mentioned that they will double loans given to renewable energy projects to $2 billion (Rs9,103 crore) in the next three years in India. Further, the lending will primarily be for power generation and energy efficiency projects. The World Bank largely funds government projects while the IFC caters to the private sector. As readers of Panchabuta are aware, IFC has been one of the most active investors in the ... Read More »

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