International Finance Corporation (IFC), a World Bank Group member, is planning to invest up to $6 billion in India over the next five years to support initiatives in renewable energy and green buildings, said a top official of the institution.
The World Bank will help draw up a granular makeover blueprint for the Indian Railways, which is investing Rs 5 lakh crore to transform itself from a colonial-era mass transporter into a strategic platform underpinning growth in Asia’s third-biggest economy.
Sumant Sinha led ReNew Power Ventures Pvt Ltd, a Goldman Sachs backed clean energy company — is in active discussions with Orange Renewable to acquire its portfolio of a little over 600 MW of predominantly wind and a smattering of solar assets for Rs 6175 crore ($950 million) of enterprise valuation, according to multiple officials in the know.
Metro Rail projects in India have picked up and are likely to provide sizeable opportunity over the next three to five years to construction industry, rating agency ICRA said in note.
The government has ordered Reliance Industries (RIL), Shell and ONGC to pay a combined $3 billion in penalty following an arbitration award in the Panna Mukta Tapti (PMT) oil field dispute that went in favour of the government, according to people familiar with the matter.
With the steep fall in solar tariffs in the last two years, the ministry of new and renewable energy (MNRE) has written to all states to ensure that solar developers do not get “undue benefits” from the development by insisting that solar projects meet the deadlines initially set for them without any extensions.
The government has decided to defer stake sale in Coal India this year after the share price fell sharply, close to a 52-week low, making it impossible to fetch the sum it hoped for, company officials said.
India’s leading clean energy company Greenko has raised $1 billion on Monday via an overseas bond issue, making it Asia’s largest green bond till date.
The transport ministry is not in favour of Niti Aayog’s suggestion that taxi aggregators should be allowed to rope in private cars to increase the availability of vehicles for passengers.
The government’s pet project of bullet trains is gaining momentum. The High Speed Rail Corporation (HSRC), which has been conducting feasibility studies for several bullet train projects, has submitted a final feasibility report for Delhi-Amritsar project and draft report for Delhi-Kolkata corridor to the Railways ministry.