ICICI bank has completed a $ 300 million deal with Japan Bank for International Cooperation and Sumitomo Mitsui Banking Corp. The funds will be used to support renewable energy and energy efficiency projects in India. JBIC is providing USD 180 million, while SMBC and Bank of Tokyo-Mitsubishi UFJ are funding USD 120 million. The commercial [...]
Archive for the ‘Corporate News’ Category
Excellence Enhancement Centre launched
Union Minister of State for Power K.C. Venugopal has underlined the need for improving energy efficiency in power sector. He was launching the Excellence Enhancement Centre (EEC) for the Indian power sector at a function in New Delhi. Stating that the present level of average efficiency of power generation in the country is only 32.5%, [...]
GVFL to focus more on clean energy
Gujarat Venture Finance Limited (GVFL) is ready to focus more on clean energy projects for funding under its Rs 1000-crore infrastructure fund. GVFL had announced the Rs 1000-crore infrastructure fund – Golden Gujarat Growth Fund Series-1 in January 2011. GVFL is confident of raising about half of the total fund size by the end of [...]
Suzlon to step into off shore wind energy
Leading wind energy company of India Suzlon is interested to enter into off shore wind energy in the country. The project will be coming to Gujarat. According to the company’s CMD Tulsi Tanti, “We are working on an off-shore wind energy project and may be in next 4-5 years we will come in with an [...]
L&T Infrastructure Finance focuses on renewable energy
As the thermal power sector is facing numerous problems, L&T Infrastructure Finance is shifting focus to funding projects in the renewable energy sector. Some of the problems faced by the thermal sector include difficulty in getting environmental clearances, coal linkages and access to uninterrupted coal supply. “We have consciously decided to diversify into the renewable [...]
SunEdison to sell 49% stake
Solar power developer SunEdison, which is a subsidiary of the US poly-silicon major MEMC, is looking to sell 49 per cent stake in seven of its solar projects in India. Quoting sources close to the development, reports say that a US-based company is in talks with SunEdison for this. The biggest of the seven is [...]
NTPC bundles solar with conventional energy
Starting October, NTPC Vidyut Vyapar Nigam, the trading arm of NTPC, has commenced bundled power supply – combining energy produced from solar photovoltaic with those produced from conventional thermal sources. Supply of bundled power has commenced to the distribution companies of the buying States – Rajasthan, Maharashtra, and Punjab. This is to make solar power [...]
L&T makes its presence felt in solar power sector
Larsen & Toubro Ltd has emerged as one of the major EPC (engineering, procurement and construction) turnkey solutions provider for solar power generation. Besides, the company is looking at offering deployment solutions of large rooftop systems for third parties. Offcials of the company, speaking on the sidelines off Solarcon India 2011, said L&T has contracted [...]
SBI Macquarie invests Rs 125 cr in Soham
An announcement has been made by Soham Renewable Energy India Pvt Ltd that SBI Macquarie Infrastructure Fund has invested Rs 125 crore in the Bangalore-based company’s renewable platforms. The investment, which is a part of a total commitment of Rs 375 crore for current and future projects, will also be utilised to acquire licenses along [...]
India partial on solar deal: US
The United States has called ‘biased’, certain clauses in the term paper of Indian solar power project worth Rs 4,200. In his CII meeting, Francisco Sanchez, who is the US Under Secretary for International Trade, affirmed that focusing on local components is good but it would there are certain clauses in the Jawaharlal Nehru National [...]