India’s blue sky pledge gives power to country’s green bonds

Source: LiveMint.com, July 19, 2017

New Delhi: Green bonds issued by Indian companies are gathering pace as the country’s ambitious target for renewable energy fuels interest from investors.

Renewable energy developer Greenko Energy Holdings raised $1 billion earlier this week, making it the largest corporate green bond issuer in Asia, Bloomberg data shows. It beat MTR Corp.’s $600 million issue in November. Green bonds from India are likely to increase as renewable capacity expands and the market gets bigger, according to Ashish Sethia, head of research and analysis for Asia Pacific at Bloomberg New Energy Finance.

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IFC to invest $5-6 b in Indian sustainability projects

index.jpgSource: The Hindu Business Line, July 19, 2017

Mumbai: International Finance Corporation (IFC), the private-sector lending and investment arm of World Bank, is considering investing $5-6 billion towards sustainability projects in India.

In an exclusive interaction with BusinessLine, Jun Zhang, IFC Country Manager for India, noted that in the previous financial year, which closed for IFC just a few weeks ago (July 1 – June 30), IFC financed $1.96 billion in about 40 projects in India, overachieving its yearly target of around $1.2 billion.

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Tata Power to invest $90 million in renewable energy arm TPREL

index.jpgSource: LiveMint.com, July 19, 2017

Mumbai: Tata Power Co. Ltd plans to invest around $90 million (close to Rs600 crore) in equity capital in its renewable energy arm Tata Power Renewable Energy Ltd (TPREL) as the company seeks to develop its immediate pipeline of 320 megawatts (MW) of solar assets, two people aware of the development said.

TPREL currently owns around 2 gigawatts (GW) of solar and wind assets, including the assets that it acquired from Welspun Energy. In all, Tata Power owns over 3GW of green assets, including its hydropower assets.

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Govt’s second wind auction attracts bids worth 2,898 MW

Source: The Hindu Business Line, July 16, 2017

Chennai: The second auction for alloting 1,000 MW of wind power capacity has attracted bids worth 2,898 MW. The bids closed on Saturday.

The first auction, also for 1,000 MW, which concluded on February 25 this year, resulted in wind energy companies agreeing to sell wind energy for as low as ₹3.46 a kWhr.Milestone

The auction was a milestone event in the history of India’s renewable energy industry, as it changed the way tariffs are discovered, from negotiated Feed-in Tariffs, to the cheaper tariffs discovered through competitive bidding.

GST shines on renewable energy sector

Source: The Economic Times, Jul 04, 2017

NEW DELHI: The renewable energy sector is quite content with GST provisions. Contrary to earlier fears of sale of solar equipment – panels, modules and inverters – being taxed at high rates, the GST on such sales has been set at 5 per cent.

“The net effect on solar projects will be 3.5-4.5 per cent,” said Raj Prabhu, co-founder and CEO of Mercom Capital Group, which tracks the segment. “There will be issues with power purchase agreements as they will vary from state to state but 5 per cent GST is much more palatable than the expected 18 per cent.” Read the rest of this entry »

Govt to map all renewable energy sources in the country

Source: The Hindu Business Line, June 29, 2017

The government is preparing a list of all renewable power generation points in the country to aid integration of clean energy with existing sources. The directives for setting up the registry have already been given, according to the Minister of State (Independent Charge) for Coal, Power, New and Renewable Energy and Mines, Piyush Goyal.

Speaking at the release of a report titled, ‘Pathways to Integrate 175 Gigawatts of Renewable Energy into India’s Electric Grid- National Study’, Goyal said, “The Central Electricity Authority Chairperson has assured me that they will be coming out with a mechanism for the same within a month by which this data will be captured.” This information can be updated through a mobile app if needed and the data will be available for the public, he added.

He said that the data base when complete will help integration of clean energy to existing energy sources. The report released by Goyal noted that power system balancing with 100 GW solar and 60 GW wind is achievable at 15-minute operational timescales with minimal reduction in renewable energy output.

The report also notes that India’s current coal-dominated power system has the inherent flexibility to accommodate the variability associated with the targeted renewable energy capacities.

US President Donald Trump looks to increase energy exports to India

download (3)Source: The Economic Times, June 28, 2017

NEW DELHI: US plans to export more natural gas, clean coal and renewable resources and technologies to India to fuel the country’s growing energy demand and strengthen ties between the two countries, according to an Indo-US joint statement.

“President Trump affirmed that the United States continues to remove barriers to energy development and investment in the United States and to US energy exports so that more natural gas, clean coal, and renewable resources and technologies are available to fuel India’s economic growth and inclusive development,” President Donald Trump said in after meeting Prime Minister Narendra Modi.

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