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    India unlikely to achieve 40 GW rooftop solar power target: CARE Ratings report

    According to reports, India is unlikely to achieve its target of achieving 40GW power capacity through rooftop solar panels by 2022 given the slow pace of the programme, a report said. The report by industry lobby group PHD Chamber of Commerce and Industry and credit rating agency CARE Ratings was released on Wednesday at the National Solar Summit 2017 organised by them. “Implementation of rooftop solar is taking place at a much slower pace and it seems unlikely that the ... Read More »

    Solar power tariffs fall to new low of Rs2.62 per unit

    According to reports, India’s solar power tariffs fell to a new low of Rs2.62 per unit during the auction of a 250 megawatt (MW) capacity at Bhadla in Rajasthan. South Africa’s Phelan Energy Group and Avaada Power bid Rs2.62 per kilowatt-hour (kWh) to win contracts to build capacities of 50MW and 100MW, respectively, at Adani Renewable Energy Park Rajasthan Ltd. SBG Cleantech bid Rs2.63 per kWh to construct a 100MW capacity, said a person associated with the auction process, requesting ... Read More »

    Solar tariffs: Foreign firms emerge lowest bidders

    According to reports, one of the winning bidders for Bhadla solar power park in Rajasthan is South Africa’s Phelan Energy Group. The Rs2.62 per kilowatt-hour (kWh) bid by the Cape Town-headquartered firm is representative of a trend in India’s solar energy space wherein overseas firms have led the race to the bottom for tariffs to secure contracts. Also SBG Cleantech, a joint venture between Japan’s SoftBank Group Corp., India’s Bharti Enterprises Ltd and Taiwan-based Foxconn Technology Group placed a winning ... Read More »

    TN ranks low in ease of doing solar business

    According to reports, despite being a fast-growing solar state, Tamil Nadu ranks poorly in terms of ease of business when it comes to solar projects among top ten states, according to Bridge to India. “We asked the industry to rate the top 10 States on ease of doing business in the sector. Madhya Pradesh, Andhra Pradesh and Gujarat are the top three States, while Uttar Pradesh, Maharashtra and Tamil Nadu have come at the bottom,” the solar consultancy firm said. ... Read More »

    Rational exuberance is in the air

    According to reports, one event changed it all. Until around mid 2016, the Indian wind power industry, which comprises wind turbine manufacturers and their customers, was mumbling and moaning about the future. Industry representatives were generally incorrigible whiners and they spoke endlessly of uncertainties in demand, vanishing subsidies, difficulties in land purchase and regulatory hurdles. The Indian market for wind turbines used to be around 2,500 MW, and a year that saw the 3,000 MW mark breached was considered a ... Read More »

    IFC-JICA to co-finance $1.5 billion in emerging market projects

    According to reports, “IFC, a member of the World Bank Group, and the Japan International Cooperation Agency (JICA) are planning to co-finance up to $1.5 billion in high-impact private sector projects over the next five years under a partnership that aims to modernize infrastructure and expand access to basic services for under-served communities in emerging markets,” IFC said in a statement on Monday. This comes against the backdrop of India implementing its ambitious infrastructure development programmes in sectors such as ... Read More »

    ReNew Power’s Sumant Sinha raises $100m from Piramal unit ahead of IPO

    According to reports, Sumant Sinha, founder of Goldman Sachs-backed green energy producer ReNew Power Ventures Pvt. Ltd, has raised around $100 million in structured credit from Piramal Capital’s structured financing group (SFG) to raise his stake in the company ahead of a proposed initial public offering (IPO), two people aware of the development said. The fund raising was necessitated by Sinha’s low stake in the company, which could force private equity investors to lock in part of their shareholding as ... Read More »

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