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    MP signs 750MW Rewa solar project deal

    According to reports, in a major boost for clean energy, the Madhya Pradesh government has signed an agreement for its 750 MW Rewa Ultra Mega Solar Limited (RUMSL) project, the International Finance Corporation (IFC) said on Monday. The project, which is expeccted to generate clean energy at a record low of Rs 3.30 per unit, will be functional by next year. The project will supply power to the Delhi Metro and Madhya Pradesh Power Management Company.  A World Bank constituent, ... Read More »

    IREDA raised Rs 700 crore from Green Masala Bond in March

    According to reports, Indian Renewable Energy Development Agency (IREDA), the non-banking financial arm of the ministry of new and renewable energy, raised Green Masala Bonds worth Rs 700 crore from the domestic market in March this year, a company official said. In addition, IREDA also plans to raise $ 350 million Green Masala Bonds at the Singapore stock exchange and the London stock exchange. “In March we have already raised around Rs 700 crore from the domestic markets. This year we ... Read More »

    Dark side of solar success: It may kill thermal power, banks

    According to reports, the latest solar power auction has yielded an electricity price of just Rs 3.15unit, down from Rs 5 two years ago. This seems competitive with coal-based thermal power. The government has raised its solar capacity target to 40GW by 2020 and 100GW by 2030, up from 12GW today. This promises to replace dirty coal-based power by cheap, renewable power. What’s not to like? Plenty. Solar power has many hidden subsidies. Its true cost is far higher than for ... Read More »

    Orient Green Power jumps over 7% in two sessions

    According to reports, Orient Green Power Company rose 3.35% to Rs 10.50 at 14:57 IST on BSE, stretching previous session’s gain triggered by the company extending exclusivity pact with IL&FS for merger of wind businesses. Meanwhile, the S&P BSE Sensex was down 44.83 points, or 0.15% to 29,416.62. On the BSE, 9 lakh shares were traded in the counter so far, compared with average daily volumes of 1.39 lakh shares in the past one quarter. The stock had hit a ... Read More »

    Energy: going where the wind blows

    According to reports, for the first time, wind power installations (windmills) crossed the 5 Gigawatt mark, to reach 5,400 MW in 2016-17. The earlier record was 3,472 MW of 2015-16. The current year might see installations of 6 GW. And? In February, in the country’s first-ever auctions of wind power capacity, the price at which windmill owners would sell electricity to companies that supply power to consumers fell to a record low of ₹3.46 a kWhr, as competitive forces were ... Read More »

    Three-layer safety mesh brings down Rewa solar power tariffs

    According to reports, India’s solar power tariff saw a new dynamic with Rewa Ultra Mega Solar Ltd (RUMSL) getting a rate of ₹3.30 per unit raising questions on how this was achieved for the otherwise expensive green power. This was achieved by working through the contract in such a way that it becomes beneficial for all — developer, procurer and the consumer, said Bhanu Mehrotra, Global Sector Lead for PPP Advisory on Solar, International Finance Corporation. IFC is the lead ... Read More »

    Delhi Metro to sign agreement for Rewa solar power tomorrow

    According to reports,  Delhi Metro Railways Corporation and Madhya Pradesh Power Management Company will sign a power purchase agreements with Rewa Ultra Mega Solar Limited, the implementing agency for the “world’s largest single-site solar project”, here on Monday. The 750 MW solar park that will produce cheapest solar power has recently completed its first phase. Signing of power purchase agreement between the developers, MPPMCL (Madhya Pradesh Power Management Company Limited), DMRC (Delhi Metro Rail Corporation), RUMSL (Rewa Ultra Mega Solar ... Read More »

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