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    Solar energy boom brings Indian manufacturers to financial collapse

    According to reports, some of India’s biggest solar equipment makers are facing financial collapse, priced out by Chinese competitors as Prime Minister Narendra Modi’s government prioritises cheap power over local manufacturing despite his ‘Make in India’ push. Though President Donald Trump is pulling the United States out of the Paris accord on climate change, India is sticking to its huge renewable energy programme. That has created a multi-billion-dollar market for Chinese solar product makers, who are facing an overcapacity at ... Read More »

    Hero Future Energies to set up solar charging stations for electric vehicles

    According to reports,  Hero Future Energies Pvt. Ltd, a company promoted by the Munjal family, plans to enter the battery storage business and set up charging stations to tap India’s emerging electric vehicles (EV) market, chief executive officer Sunil Jain said. The plan comes at a time when the ‘Bharat Charger’ specifications for electric vehicles are being firmed up. The department of heavy industries (DHI) has submitted its report on these specifications for charging stations to a government committee on ... Read More »

    Actis LLP eyeing profitable exit from renewables firm Ostro Energy

    According to reports, global private equity fund Actis LLP is exploring the sale of Ostro Energy Pvt. Ltd, a successful renewable energy company it owns, at a premium. In February 2015, Actis committed $280 million to create renewable energy platform Ostro Energy in India to leverage the opportunities offered by the country’s emerging green economy. Ostro Energy adopted an aggressive approach, becoming one of the firms that bid a record low wind energy tariff of Rs3.46 per kWh in a 1 ... Read More »

    SBI, World Bank finance ₹400-cr solar projects

    According to reports, State Bank of India and the World Bank announced on Friday that they had financed 100 MW of rooftop solar projects worth ₹400 crore in India. The World Bank aid helped the public sector SBI lower the lending rate to project developers, according to SBI Deputy Managing Director Karnam Sekar. “The support from World Bank has helped lowering the interest rate by 3-3.5 per cent from the 11-12 per cent lending rate for a medium-sized solar roof ... Read More »

    Welspun’s Maharashtra project remains stuck between start and scuttle

    According to reports, When Welspun Energy sold its renewable energy portfolio to Tata PowerBSE -0.06 % in June 2016, one solar project was left out of the deal. This 100 MW project is now the centre of a spat between Welspun Energy and the Solar Energy Corporation of India (SECI), with Welspun getting a stay order from the Delhi High Court in late April to prevent SECI from cancelling the deal and encashing its bank guarantee of Rs 30 crore. Welspun ... Read More »

    High air pollution levels may hit India’s solar power generation plans

    According to reports, high pollution levels could play spoilsport in India’s solar power generation plans, say experts. For instance, in the National Capital Region (NCR) centred on Delhi, high pollution levels have hit the efficiency of solar rooftop projects to the extent of 10%, the experts said. Delhi is among the most polluted cities in the world. The World Health Organization ranked Delhi as the most polluted city in the world in 2014. In 2016, it ranked 11. “Ninety per ... Read More »

    Wind power competitive bidding will reduce tariffs, squeeze returns: CRISIL

    According to reports, competitive bidding in the wind power sector would change the market landscape leading to a sharp reduction in tariffs, pressure on returns across the value chain, and consolidation of the market towards independent power producers, according to research and ratings agency CRISIL. According to its report released today, under-construction capacities without Power Purchase Agreements (PPAs) are the most at risk. “To compete in bids, developers are likely to put pressure on wind power original equipment manufacturers (OEMs), ... Read More »

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