Hyderabad-based renewable power company Mytrah Energy (India) Limited has set an internal target of a four per cent reduction in power costs year-on-year (YoY) at least for the next five years, during which time it aims to take its installed capacity to 5,000 Mw from the current level of around 1,500 Mw.
Piramal Capital’s Structured Finance Group and Dutch partner APG Asset Management are investing INR 19 billion in Indian renewable power producer Mytrah Energy , The Economic Times (ET) reports.
Renewable hybrid projects are key to ensuring uninterrupted power supply and there is a need to explore full potential on this front, said US-India Strategic Partnership Forum (USISPF) Secretary Nolty Theriot.
Minister of Science & Technology, Environment, Forest and Climate Change Dr. Harsh Vardhan on Thursday said the government is aiming to install 175 GW of renewable power capacity by the end of 2022.
Tamil Nadu Generation & Distribution Co’s (Tangendco) wind energy auction generated a record low tariff of Rs 3.42 per unit, which the central government said is a positive development that will encourage distribution companies to buy more renewable power.
India may be aiming to turn to renewable power in a big way the government has an ambitious plan to install 175GW of renewables by 2022 but a new report from NITI Aayog and Institute of Energy Economics
Royal Dutch Shell Plc plans to spend as much as $1 billion a year on its New Energies division as the transition toward renewable power and electric cars accelerates.
Gujarat Urja Vikas Nigam Ltd (GUVNL) has extended the deadline for submitting bids for 1,000MW wind and solar power supply. The decision has come after prospective bidders requested an extension in the wake of limited time period for submission of bids and the lack of clarity on GST rates.
Four Indian renewable power producers are planning to raise up to $2.5 billion via dollar bonds offshore because of caution among domestic lenders, banking sources said.
A record amount of renewable power capacity was installed worldwide last year as falling costs for wind and solar made them more competitive with fossil fuels, research by renewables policy organisation REN21 showed on Tuesday.
