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    Sun to shine on solar, wind power may lag: Icra

    According to reports, solar capacity addition, at 7-7.5 megawatt (mw), is likely to exceed wind’s this fiscal even as experts have flagged risks such as not enough buyers and debt leverage in the renewables sector. Credit rating agency Icra said on Tuesday that the share of the wind and solar capacity is estimated to be 35% and 55% respectively, out of the total 65 gigawatt (gw) capacity addition estimated during fiscals 2018 to 2022. Sabyasachi Majumdar, senior vice-president and group ... Read More »

    NLC India tenders for 709MW of solar in Tamil Nadu

    According to reports, Indian state-run mining and power firm NLC India is to invite bids for the setting up of 709MW(AC) of solar PV projects in the state of Tamil Nadu. Projects will have a minimum size of 50MW(AC) capacity in a single location and must be commissioned 12 months from the date of the Letter of Award. The tender is for the design, engineering, manufacture, inspection at supplier’s works, supply insurance, transport, storage, erection, testing and commissioning, as well as performing O&M ... Read More »

    India sees your bond bubble, will raise you a green one

    According to reports, there’s a green bubble in India, with investors flocking to fund a planned tripling of renewable energy capacity over the next five years. Luckily for Singapore’s sovereign wealth fund, one of the more gung-ho backers of solar, wind and hydroelectric power in the country, there’s a bigger bubble out there — in global bond markets — that’s allowing the green mania to grow. GIC Pte owns 64% of Hyderabad-based, but Mauritius-incorporated, Greenko Energy Holdings. The latter appears to ... Read More »

    Solar energy storage manufacturers want lower GST levy on batteries

    According to reports, solar energy storage manufacturers have sought lowering the Goods and Services Tax levy on batteries. In a letter to Minister of State (Independent Charge) for Power, Coal, New & Renewable Energy, and Mines, Piyush Goyal, the India Energy Storage Alliance said, “We believe the rates currently proposed for these components if applicable also to secondary batteries (that is rechargeable batteries/energy storage) could hinder the adoption of energy storage in grid applications such as energy access/Renewable Energy (RE) integration ... Read More »

    GST impact on renewable power: Concerns delay auctions in Gujarat

    According to reports, the state electricity board of Gujarat has extended the deadline to receive bids to develop solar and wind projects of 500 MW each. The decision was taken after prospective bidders wanted more time as “there is no clarity on GST rates”. The final date for bid submissions for both solar and wind projects has been extended to July 24 from July 10. Bidders also said Gujarat Urja Vikas Nigam (GUVNL) set the deadline at a relatively short span ... Read More »

    Greenko Energy to raise up to $1 billion via dollar bonds

    According to reports, Greenko Energy Holdings, which acquired SunEdison’s India assets last year, is looking to raise up to $1 billion via overseas dollar bonds to refinance the entire debt of the acquisition as well as its existing debt of $500 million. Mint was the first to report on Greenko’s fund raising plans through dollar bonds in November last year. According to bankers directly involved in the transaction, who did not want to be named, Greenko’s green bonds will have a ... Read More »

    GE arm in talks to invest in Avaada Power’s renewable energy projects

    According to reports, GE Energy Financial Services (GEEFS) is expanding its Indian renewable energy portfolio and is in talks with Avaada Power to invest in the renewable energy projects of the Vineet Mittal-promoted firm, two people aware of the development said. Avaada Power is Mittal’s second innings in India’s clean energy space after Tata Power Co. Ltd bought the entire 1.1 GW renewable energy portfolio of Welspun Energy Ltd for $1.4 billion last year. “GE Energy Financial Services is in ... Read More »

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