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    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 »

    Bhadla solar park receives a base price bid of Rs3.01 per unit

    According to reports, India’s solar power tariffs are set to fall below Rs3 per unit at Bhadla in Rajasthan. State-run Solar Energy Corp. of India (SECI), which is running the bid process for 750 megawatt (MW) of solar power capacity at two parks, has received price bids for the 250 MW Adani Renewable Energy Park Rajasthan Ltd, with the reserve price set at Rs3.01 a unit. “We have achieved a base price of Rs3.01 per unit before the reverse auction. ... Read More »

    Japan’s Orix Corp partners with Sun Group for solar business in India

    Sun Group, a leading principal investor in emerging markets, has formed a joint venture partnership for its distributed generation (DG) focused solar business, Sun Renewables, with Orix Corporation, one of the largest Japanese financial services groups and the largest solar developer in Japan. The partnership brings together the synergistic strengths of Sun and Orix to position Sun Renewables as a leading player in DG solar in the country with a clear focus on providing commercial and industrial (C&I) clients with ... Read More »

    Wind energy takes sail out of fiscal 2018 infra outlook

    According to reports, lacklustre toll roads, thermal and wind energy brought down the overall outlook of infrastructure sector to negative. Wind energy that had stable outlook in fiscals 2016 and 2017 has a negative outlook for fiscal 2018, while airports have moved to positive from the earlier stable outlook, according to India Ratings and Research (Ind-Ra). On the renewable power front, the solar energy sector is shining over wind power projects. The credit quality of wind power projects is likely ... Read More »

    India poised to overtake Japan as No.3 solar PV market in 2017

    According to reports, with 8.8 GW of projected capacity addition (growth of 76 per cent over 2016) in 2017, India is set to become the third largest solar PV market, overtaking Japan, according to a report by solar energy consulting firm Bridge to India. By the end of 2017, India’s solar power capacity is expected to touch 18.7 GW, which will be about five per cent of global solar capacity, growing by 89 per cent over last year. As of ... Read More »

    Mumbai society switches to solar power, will save ₹5 lakh a year

    According to reports, Grace Co-operative Housing Society, Vasant Oscar, Mulund (West), switched to solar energy last month and will save Rs 5 lakh per annum in electricity bills, which means a monthly saving of Rs41,000. It got solar panels installed that help light up elevators and common areas of five buildings in the society, which has 160 apartments. The residents of the society have also been segregating their organic waste and recycling it to manure to ensure the 100-odd trees they ... Read More »

    BHEL solar energy portfolio crosses 370 MW mark

    According to reports, State-run power equipment maker BHEL today said its solar energy portfolio crossed the 370 MW mark in 2016-17. BHEL ended 2016-17 with a significant solar PV portfolio of 370 MW, comprising 360 MW ground-mounted power plants and 10 MW rooftop power plants, a company statement said. According to the statement, out of 370 MW, 170 MW of BHEL-supplied ground-mounted and 2,290 KW of rooftop power plants are already under operation at various locations. During the year, BHEL ... Read More »

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