Emerging bio-energy company PRESPL is eyeing a second spell of series-B funding from a strategic investor. In March, Neev Fund of SBICAP Ventures belonging to SBI Capital Markets had invested $5 million (₹35 crore). PRESPL (Punjab Renewable Energy Systems Pvt Ltd) is looking at leveraging the equity investment to raise debt of ₹200 crore in […]
Category: Power
Caspian, Hivos-Triodos Fund invest in agritech, clean energy-focussed Ecozen Solutions
Impact investment firm Caspian has invested in Ecozen Solutions, a provider of technology-enabled products that strengthen the farm to fork value chain of perishables. This undisclosed investment comes from Caspian’s Fourth SME Impact Fund and Hivos-Triodos Fund, managed by globally active impact investor Triodos Investment Management, the Netherlands. Existing Investor Omnivore partners also participated in […]
Lenders to RPower, arm sign inter-creditor agreement
Reliance Power on Friday said lenders to the company and to a subsidiary have signed an Inter-Creditor Agreement (ICA). “Reliance Power’s six lenders igned the Inter-Creditor Agreement (ICA) on July 6, 2019,”it said in a regulatory filing. The company added that it has now achieved standstill for 180 days as per the ICA. According to […]
Industrial growth slips to 3.1% in May
India’s industrial output growth slipped to 3.1 per cent in May mainly on account of subdued performance of mining and manufacturing sector, according to government data released on Friday. The Index of Industrial Production (IIP) had expanded by 3.8 per cent in May 2018. The index grew at 4.3 per cent in April and 0.4 […]
BHEL bags ₹100-cr order from NTPC to set up solar power plant
State-owned engineering firm BHEL on Sunday said it has bagged a ₹100 crore order from NTPC for setting up a 25 MW floating solar photovoltaic power plant at Simhadri in Andhra Pradesh. The plant will be set up on the raw water reservoir of NTPC’s Simhadri Thermal Power Plant, BHEL said in a statement. “BHEL […]
Solar energy body seeks capping tariff at ₹ 3/unit under NTPC, SECI auctions
National Solar Energy Federation of India has urged the government to cap tariff from all renewable energy sources at ₹ 3 per unit for auctions by state-owned NTPC and Solar Energy Corporation. The capping will help keeping the renewables tariff lower than ₹ 3 per unit. This will prove to be a remedy for differential […]
Two Indian start-ups bag honours at global manufacturing summit in Russia
Two Indian start-ups have won the Mohammed Bin Rashid Initiative for Global Prosperity award at the second edition of Global Manufacturing and Industrialisation Summit (GMIS) being held in the Russian city of Yekaterinburg. GARV Toilets (providers of smart sanitation services that deploy Internet of Things) won in the ‘Sustainable Cities’ category, while A2P Energy Solutions […]
L&T bags ‘significant’ orders across business segments
Infrastructure company Larsen & Toubro (L&T) on Thursday said it has received ‘significant’ orders across various business segments in the domestic and international market. The company did not provide the value of the contracts, but said the orders fall under the “significant” category, which ranges between Rs 1,000 crore and Rs 2,500 crore according to […]
Anil Ambani plans $3.2 billion asset sales
Indian tycoon Anil Ambani plans to raise about ₹21,700 crore ($3.2 billion) by selling assets from roads to radio stations in a bid to cut debt. According to the spokesperson, the breakdown of asset sales would be – Reliance Infrastructure is seeking ₹9,000 crore from the sale of nine road projects, Reliance Capital aims to […]
EV-charging stations: India to use three technologies
India will deploy both CHAdeMO and Combined Charging System (CCS) fast-charging technologies, besides the existing Bharat Standard, at its public electric vehicle charging stations. According to sources in the Power Ministry, now the push will be to have Bharat Standard, CHAdeMO and CCS charging points at all public stations. Earlier, there were indications that the […]
Coal fired thermal power capacity addition likely to remain subdued during FY20-FY21: India Ratings
The coal-based capacity addition in the Indian power sector, which fell to a low of 3.6 GW in FY19, is likely to remain subdued at 5GW-6GW per year in FY20 and FY21. According to India Ratings and Research of the Fitch Group, This likely decline in thermal capacity addition is attributed to the decommissioning of […]
Reliance Power recasts Rs 2,430 crore loan for Samalkot project
Reliance Power said on Thursday that the Rs 2,430-crore loan for its Samalkot project has been restructured and its maturity has been extended to June 2022. “Reliance Power’s Samalkot project successfully recasts Rs 2,430-crore ($347 million) loan from US-EXIM amortising repayment schedule converted into bullet repayments extended final loan maturity to June 2022 ultra-low interest […]