Renewable Energy Newsletter (September 08)

Suzlon Energy planning a rights issue of US$ 387 million
26 Sep, 2008

Suzlon Energy is joining the band of a growing number of companies and is planning a rights issue to raise about US$ 387 million. For this purpose, Suzlon board members met on September 27 to consider the proposal for the rights issue.

RCF foraying into wind power generation
25 Sep, 2008

Rashtriya Chemicals and Fertilisers is planning to enter the wind power generation segment with a proposed investment of around US$ 322.5 million. The company is yet to decide on the location, but is planning to invest alone without any partnership. Foraying into wind power generation would cut the power bills of the company, amounting to US$ 278.8 million in 2007-08 as compared to US$ 241.7 million in the year before.

India aims to generate 60,000 MW of additional hydropower by 2025
24 Sep, 2008

According to the Minister of State for Power, Mr. Jairam Ramesh, India is aiming to get 60,000 MW of additional electricity from domestic resources from hydro projects by 2025. Mr. Ramesh said that India's long-term plan was to generate 50,000 MW of hydropower within the country and to get 10,000 MW more from Bhutan by 2025.

India to aid Nepal to raise US$20 billion for hydropower sector
23 Sep 2008

Participating in the third power summit at Kathmandu, India pledged to help Nepal to develop its potentially rich hydropower sector. Nepal, in lieu, has assured India of security and investment protection.

Nepal intents to generate over 10,000 MW of power in the next decade and the project would require about US$20 billion. Over 300 investors, mostly from India, have come up with proposals for the same and they are looking for a public-private partnership with the government of Nepal.

Reliance Power to tap prospects in wind, solar power & fuel cell
23 Sep 2008

Mr. Anil Ambani-run Reliance Power is exploring for prospects in wind, solar and fuel cell-based power. The company is considering the possibility of setting up a 100 MW Grid Interactive Concentrating Solar Power Plant through an exclusive relationship with a technology provider.

India can take N-power generation to 6,00,000 MW by 2050
19 Sep 2008

According to Planning Commission Deputy Chairman, Mr. Montek Singh Ahluwalia, India can increase nuclear power generation to 6,00,000 MW by 2050 by rightly following the nuclear energy program.

Mr. Ahluwalia said that if the country is able to raise the nuclear power generation based on imported fuel by 30,000 MW to 40,000 MW in next 12 years, it is possible to achieve 6,00,000 MW of nuclear power output by 2050 by using thorium technology.

Mr. Ahluwalia said this while arguing for entry of private sector in the field of nuclear power generation.

NeST signs MOU with EPV Solar
19 Sep 2008

Kochi, Kerela based NeST HI-Tek Park private ltd, has signed an MOU with the New Jersey headquartered EPV SOLAR, to set up a manufacturing facility for silicon solar panels at the high tech park. This facility is being co-developed by NeST group of companies. The facility is being built within the high tech park being co developed by NeST under an agreement with the Kerala Industrial Infrastrutural Development Authority (KINFRA).

US to invest in green energy
18 Sep 2008

According to former US vice-president, Mr. Al Gore, The global economic downturn and the crisis in the US financial markets offer the chance for investment in green energy. The United States incur large amount of debt mostly because of the purchase of foreign oil. Mr. Gore said that the country should substitute renewable sources of energy like solar energy, wind energy etc. in place of the expensive oil and coal that's contributing to the debt crisis and the general financial crisis in the US.

NHPC to enter Myanmar with two power projects
17 Sep 2008

After Bhutan, NHPC is set to enter Myanmar with a plan to set up two hydropower projects. The company has signed a MoU with Myanmar’s power ministry to develop two hydropower projects of 1200mw (Tamanthi project) and 600mw (Shwzaye project) on the Chindwin River close to the border. Besides NHPC projects, Bhel would also provide its services to two other power projects in the neighbouring country.

GMR to invest US$ 2.188 billion for nuclear power project
12 Sep 2008

GMR energy is planning to invest over US$ 2.188 billion to set up a 2,000-3,000 MW nuclear power plant in the country in the next 5-7 years. The company planning is at the preparation stage and is holding talks with equipment and fuel suppliers.

Hindujas to concentrate on energy, infra, fin services
11 Sep 2008

Hinduja group is all set to step into nuclear plants in India once the sector is opened to private players. The company is working on setting up 10,000 MW generating capacity in the country. The group is focusing on two key sectors of Energy and Infrastructure.

The company, which has promoted IndusInd Bank in India and owns Amas Bank in Switzerland, is also looking at investing in the financial sector.

Suzlon bags wind turbine orders
11 Sep 2008

Suzlon Energy Ltd said that the company has got two orders from Martifier to supply wind turbines with a capacity of 79.8 megawatts for projects in Romania and Portugal.

Tata Power plans to add 10,000 MW in the coming five years
10 Sep 2008

Tata Power has charted out an aggressive growth plan to add 10,000 MW of generation capacity in the next five years. The company has already completed financing 4,000 MW Ultra Mega Power Project (UMPP) at Mundra in Gujarat and 1,050 MW Maithon power project in Jharkhand. The project will be funded through a debt-equity mix of 75:25.

Test trials commences on Baglihar hydroelectric power project
5 Sep 2008

The 450-MW Baglihar hydroelectric power project on the Chenab River has commenced its test trials, following the clean chit received from Pakistan. The project is likely to be commissioned by end of this month. The Baglihar project, which has three turbines of 150 MW each, was started in 1999.

Nagpur to set up Asia's biggest solar thermal power plant
2 Sep 2008

Nagpur in Maharashtra will soon have the privilege of having a 10 mw solar thermal power plant, which will be the biggest such plant in entire Asian continent, which will serve the purpose of demonstration for solar energy enthusiasts across the country.

BEL, BHEL to form joint venture in solar power sector
2 Sep 2008

Largest defence electronic company Bharat Electronics (BEL) and engineering major Bharat Heavy Electricals Limited (BHEL) are in the process of finalising a joint venture to tap the "huge potential" in the solar energy sector. Both these companies have agreed to form an equal partnership joint venture to set up a polycrystalline silicon-manufacturing unit in Bangalore.

Suzlon to buy Martifer's stake in REpower for US$ 394.2
1 Sep 2008

Wind turbine maker Suzlon Energy has signed an agreement with Portugal-based Martifer for acquisition of the latter's entire stake in REpower Sytems for US$ 394.2 million. Martifer has a 22.48 % stake in Repower, Germany's biggest wind turbine maker. With this acquisition, Suzlon's total holding in REpower would go upto 90 %.

Gammon Infra announced to build hydel power plant in Himachal
1 Sep 2008

Gammon Infrastructure Projects Ltd announced that the company has won rights to build 261 megawatt Youngthang Khab hydroelectric plant in Himachal Pradesh at a cost of US$ 343 million.