(IFC), a member of the World Bank Group, and China-based power systems provider Chint Group have signed a memorandum of understanding to develop solar farms, acquire targeted companies that offer complementary products and services, and open more manufacturing plants in emerging markets around the world. "Due to the booming utilization of solar power and strong development of energy infrastructure, we have seen great opportunities in emerging countries," says Nan Cunhui, chairman of Chint Group. "Universal access to power is critical to improve people's living standards and grow businesses in emerging markets," says IFC's executive vice president and CEO Jin-Yong Cai. "IFC and Chint have worked together in India to develop solar power during the last year. Now we are scaling up our partnership to find affordable and climate-friendly power solutions for developing countries in other parts of the world." Source:
Even as the Government of Tamil Nadu had earlier set a target of setting up 1,000-Mw solar power in 2013 and implementing three per cent solar purchase obligation (SPO), the state has missed the target for the first year due to various reasons, said S Nagalsamy, member, Tamil Nadu Electricity Regulatory Commission (TNERC). The Commission is looking at coming up with the rate fixed for solar energy soon, he added. Speaking at a conference on solar power generation organised by the Confederation of Indian Industry (CII), he said, "Government of Tamil Nadu had honestly taken steps to see that the policy was issued in October 2012, and also called for tenders for 1,000-Mw for the current year. Once the plants are set up and start generating power, achieving the three per cent SPO would not be a difficult job. However, there was a delay in it due to administrative hurdles." The state
IDFC Alternatives is discussing a large stake buy, possibly a controlling interest, in select wind power assets owned by Orient Green Power Company, a listed firm of the southern conglomerate Shriram Group. The transaction could be valued up to Rs 300 crore, said banking sources directly familiar with the matter. The deal may involve IDFC buying into fully owned subsidiaries of Orient Green Power, and not into the listed parent. Private equity arm of IDFC, managing assets worth $2.2 billion, has a significant presence in the wind power sector. The deal could be part of the consolidation play in India's renewable energy space. IDFC owns privately held Green Infra, which operates 377 MW wind power assets, mostly built through acquisitions. In August this year, it acquired TVS Energy, a renewable energy arm of TVS Motor, expanding its foot print in Tamil Nadu and Maharashtra. Orient Green Power has existing 406 MW wind power and 60.5 MW biomass plants
Wind turbine maker Suzlon Energy today said its subsidiary REpower Systems SE has bagged orders for setting up windfarms totalling a capacity of 266 MW in Germany. "REpower Systems SE, a wholly owned subsidiary of the Suzlon Group has signed contracts to deliver 103 wind turbines with a total capacity of over 266 MW for 24 community wind farm projects in the Schleswig-Holstein region of Germany," the company said in a statement. However, the company did not elaborate on the financial details of the contracts. The contracts were concluded with different contractors, who were previously represented by a purchasing association. REpower signed a primary memorandum with the purchasing association Schleswig-Holstein GmbH Wind, in December 2012. The projects will employ various types of turbines and 11 wind turbines of the signed projects are already in the implementation phase and are to be commissioned quickly, the statement said. The other projects will be completed by 2015, it
Key benchmark indices hovered in negative terrain in morning trade. Weakness in Asian stocks weighed on sentiment adversely. The barometer index, the S&P BSE Sensex, was down 36.38 points or 0.17%, off close to 40 points from the day's high and up about 50 points from the day's low. The market breadth, indicating the overall health of the market, was negative. In the foreign exchange market, the rupee edged lower against the dollar. Asian stocks edged lower on Tuesday, 10 December 2013, on heightened speculation that the Federal Reserve may be about to start cutting back on its stimulus program. The US central bank currently buys bonds worth $85 billion a month in a bid to hold interest rates low and encourage economic growth in the world's biggest economy. Fed's bond-buying program has been a source of liquidity for most Asian and emerging markets this year. Shares of power generation
State-owned Coal India Ltd (CIL) will invest Rs 7,600 crore to develop Kusmunda mine to a production capacity of about 50 million tonne per annum — the largest in the country. At present, India's largest mine has a total production capacity of 35 mt. If achieved, CIL officials said this South Eastern Coalfields Ltd (SECL) mine would be one of the largest in the world. "At present, there are open cast mines with capacities of about 40 million tonne in China, but if SECL manages to expand its present capacity from 15 to 50 million tonne in the next few years, it is likely to be one of the largest globally," said a senior CIL official, requesting anonymity. "The plan includes ramping up railway capacity for evacuating this coal. The investment figure is included in the project cost. The production capacity of 50 million tonne will be achieved through existing techniques of
After a forced shutdown of four months and 20 days for want of gas, Ratnagiri Gas & Power Pvt Ltd restored power generation at the Dabhol power plant from early Saturday morning. The plant, with a total generation capacity of 1,967 Mw, is currently generating 320 Mw following the supply of 1.4 million standard cubic metres a day gas from GAIL India. As reported by Business Standard, the plant was closed since July 16 due to the non-availability of gas. The closure prompted ICICI Bank, one of the lenders to the project, to appeal to the petroleum and power ministries for an early restoration of gas. The frequent closure of the plant had led to successive defaults in RGPPL’s repayment to its lenders with an exposure of Rs 8,500 crore. Continue
Source: http://www.brecorder.com/fuel-a-energy/193/1262668/ German utility RWE has opened an office in Mumbai to strengthen the Asian presence of its trading subsidiary RWE Supply & Trading, focusing on coal, liquefied natural gas (LNG) and fertilisers. The new office was officially opened on December 05, adding to the trading division's existing operations in Singapore and Indonesia, RWE said in a statement. RWE, a leading coal-fired electricity producer in its core European markets, is also an international coal trader with 550 million tonnes of turnover a year. A quarter of these activities take place in the Asia-Pacific region, including delivery to coal consumers in the cement and fertiliser industries in India and Indonesia, it said. Copyright Reuters,
ANNAPOLIS, MD, Dec 09, 2013 (Marketwired via COMTEX) -- Solar Wind Energy Tower, Inc. (otcqb:SWET) (the "Company"), the inventor of a large Solar Wind Downdraft Tower structure capable of producing abundant, inexpensive electricity, announced today the enhanced business model for the development of the Downdraft Energy Tower.
Ronald Pickett, CEO, Solar Wind Energy Tower, Inc., commented: "As a result of our recent press releases referencing Solar Wind Energy extending development rights for our Energy Downdraft Towers in both Chile as well as India, we have received an influx of inquiries from around the world requesting information as it would pertain to particular geographic regions, and a desire to participate in our Energy Downdraft Tower Projects. As a result, I want to clarify our business model and define the method by which we are moving forward.
"First, let me be clear, Solar Wind Energy does not intend to develop and
China Ming Yang Wind Power Group Ltd. (MY) won a 150-megawatt order in India after becoming the first Chinese turbine maker to receive approval to sell machines in Asia’s second-biggest wind market as sales slow at home. The project by an undisclosed developer in Maharashtra state will use 1.5-megawatt turbines, Hiren Shah, chief executive officer of Ming Yang’s local unit, Global Wind Power Ltd., said in an interview from Mumbai. The machine was approved for sale by the government-run Centre for Wind Energy Technology in October. Chinese manufacturers such as Ming Yang, Sinovel Wind Group (601558) Co. and Xinjiang Goldwind Science & Technology Co. are seeking to diversify beyond their home market. At least 88 percent of their sales in 2012 came from China, where wind installations contracted 42 percent in the first half of this year, according to data compiled by Bloomberg. Continue