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    Tangedco to procure wind power through reverse auction

    According to reports, the Tamil Nadu Generation and Distribution Company Limited (Tangedco) plans to procure 500 MW of wind power through reverse auction with a benchmark rate of Rs. 3.46 per unit. The State utility has filed a petition before the Tamil Nadu Electricity Regulatory Commission seeking a nod for the reverse auction. The plan is to procure 500 MW from wind power projects that have a minimum capacity of 25 MW. If the plan comes through, Tamil Nadu would ... Read More »

    REC says over 10% lending this financial year will be in renewables

    According to reports, as the country ‘s energy sector increases focus on renewable options, one of the main power finance companies, Rural Electrification Corporation (REC), expects its lending to the industry to grow significantly in the current financial year. “More than 10 per cent of our total lending this financial year would be in the renewable energy sector,” said P V Ramesh, chairman and managing director, REC. In 2016-2017, eight per cent of the total lending activity was towards the ... Read More »

    Power Finance Corporation to revamp its lending portfolio

    According to reports, Power sector’s key financier Power Finance Corporation (PFC) is looking to shift its focus from conventional energy to other upcoming sectors such as transmission, last mile distribution infrastructure and renewable energy. Lagging power demand and rising non-performing assets (NPAs) in the thermal power sector has pushed it to revamp its lending portfolio. “Our funding for last mile transmission and distribution projects in states is increasing. The ‘24X7 Power for all’ scheme alone envisages an investment of Rs ... Read More »

    KERC expediting solar projects as demand surges in Karnataka

    According to reports, taking cue from Prime Minster Narendra Modi’s ardent appeal in Paris Climate Conference in 2015 to make India a solar-powered nation, the Karnataka Electricity Regulatory Commission (KERC) has taken an initiative to provide a predictable long-tem tariff for renewable energy projects. During the Conference, India set an ambitious target of achieving 100 gigawatt solar power by 2022, hence the state governments are working in tandem to fulfil this vision. In lieu of this, the KERC organised hearings, ... Read More »

    Eastspring to invest in Continuum Wind Energy unit

    According to reports, Eastspring Investments, the Asian asset management arm of Prudential Plc, has agreed to invest in a subsidiary of Morgan Stanley-backed Continuum Wind Energy Ltd, as it seeks more opportunities for such investments across Asia. The investment in Watsun Infrabuild Pvt. Ltd will be Eastspring’s first bet on India’s infrastructure sector, the company said in a statement. The deal is likely to close this month. The statement didn’t disclose the amount Eastspring has committed but said that this ... Read More »

    CCEA likely to approve IREDA IPO tomorrow

    According to reports, the Cabinet Committee on Economic Affairs is likely to approve the initial public offer of state-run Indian Renewable Energy Development Agency (IREDA), a move aimed at mobilising more funds for clean energy. “The initial public offer proposal of IREDA is listed for the meeting of the Cabinet Cabinet Committee on Economic Affairs (CCEA) scheduled tomorrow,” a source said. The source said that under the listing proposal, the IREDA would issue fresh 13.90 crore shares, which would increase ... Read More »

    SoftBank’s India solar ambitions may gain from PM Modi’s electric vehicle push

    According to reports, SoftBank Group is in talks with the Indian government to facilitate the use of renewable energy like solar to charge electric vehicles in the country, a senior executive at the Japanese group’s local unit told Reuters. India is considering electrifying all its vehicles over the next 15 years, a plan that could boost SoftBank’s solar ambitions in the country if the government adopts renewable energy to charge the vehicles. SoftBank, which has said it will invest up ... Read More »

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