Lower tariffs for wind power developers after India moved to competitive bidding has hurt wind turbine makers. The situation stems from transition from feed-in tariffs to auctions in 2017 that drove wind energy tariffs to record lows.
The IL&FS Board sought the approval of the National Company Law Tribunal to sell seven wind assets to Japan’s Orix Corporation for Rs 4,800 crore. This will help reduce its debt burden of Rs 94,000 crore.
Lenders to Ratnagiri Gas and Power Pvt. Ltd. have agreed to move ahead with a resolution plan, which includes a conversion of part of the company’s debt into cumulative redeemable preference shares, two bankers familiar with the plan told BloombergQuint, on condition of anonymity.
Andhra Pradesh’s plan to renege on contracts to buy power from solar and wind farms citing high tariffs threatens to hurt investments in clean energy when Prime Minister Narendra Modi is looking to cut emissions and use of fossil fuels.
India will easily meet its goal of installing 175 gigawatts of renewable capacity by 2022 given the rate at which clean energy tariffs—especially solar—are falling, according to Niti Aayog’s Chief Executive Officer Amitabh Kant.
India’s environment ministry has exempted 13 pending railway projects, worth Rs 19,400 crore ($2.8 billion) and spread over 800 hectares of land, from the process of seeking forest permits, according to official documents.
India will face a power shortage in the next two years because of a fall in electricity supply, according to JSW Energy Ltd.’s Prashant Jain.While power companies together will get 14-15 gigawatt
To judge by the propaganda of the Iranian regime, the brave warriors of the Islamic Revolutionary Guard Corps had captured a Royal Navy guided-missile destroyer. Video footage
India’s state-run oil and gas companies lost nearly Rs 41,000 crore in market value in the last two trading days over likely sale of stake by the government, increase in taxes on retail fuels and
Oil is set for the biggest weekly decline since May as global demand concerns outweighed an OPEC+ pact to extend supply curbs into 2020 and worries that a renewed confrontation with Iran may threaten supplies.