Headlines

Clean Power Funding Easier as Investors Seek Simplicity

 Simplifying finance vehicles for renewable energy will lure more investors and lower the costs of capital.

“Renewable power requires a lot of explanation,” Jim Barry, the head of renewable power investing at BlackRock Inc., said during a panel discussion today at the Bloomberg New Energy Finance conference in New York. “If you’re explaining, you’re losing.”

Source: Bloomberg

Suzlon Energy sells 240 mw Illinois-based wind farm to EverPower

 Suzlon EnergyBSE 1.61 % has sold the 240 mw Illinois-based wind farm it acquired recently from Edison Mission Energy to EverPower Wind Holdings. Suzlon had taken over the Illinois wind farm in the US to recover $208 million that was outstanding from client Edison Mission Energy, which the latter had withheld accusing the Indian wind-turbine maker of supplying defective equipment. 

Suzlon did not disclose the consideration for the sale of the wind farm. The sale may have happened at 50% discount to the original price, according to industry officials. 

Source: Economic Times

Has the wind changed direction to favour Suzlon?

 Wind turbine manufacturers across the globe have been in trouble over the past few years. One of the cleanest source of energy, wind power is heavily dependent on subsidies from government. While some governments (western countries) provided direct subsidy in the form of generation based incentives (GBI), some like the Indian government used to provide indirect subsidy, in the form of accelerated depreciation (AD) benefits to those players setting up wind turbines.

Source: Business Standard

Suez Environnement bags three water treatment projects worth ₹505 crore

With the Indian government keen to develop key infrastructure essential for access to water and sanitation, France-based utility company Suez Environnement has been engaged to tackle the water challenges in India with three new contracts dealing with waste and wastewater solutions, totalling ₹505 crore (€61 million).

Source: Hindu Business Line

Schneider Electric inks pact with Ramco Systems

 Global specialist in energy management Schneider Electric has inked a pact with city-based enterprise software product company Ramco Systems to offer advanced process control solution.

The partnership will see Ramco's Advanced Process Optimisation software — OPTIMA, implement Schneider Electric's solutions for the cement industry and explore business opportunities, a company statement said.

Source: Times of India

Has the wind changed direction to favour Suzlon?

 Wind turbine manufacturers across the globe have been in trouble over the past few years. One of the cleanest source of energy, wind power is heavily dependent on subsidies from government. While some governments (western countries) provided direct subsidy in the form of generation based incentives (GBI), some like the Indian government used to provide indirect subsidy, in the form of accelerated depreciation (AD) benefits to those players setting up wind turbines.

Source: Business Standard

EU Industries to Pay Less Into Funds to Finance Renewable Energy

 Europe's energy-intensive industries scored a victory Wednesday in being largely let off the hook in footing the bill for the transition to an economy that uses less carbon dioxide.

The European Commission watered down some key parts of new rules on government aid aimed at encouraging production of energy from renewable sources, lessening the financial burden on heavy industries and reducing the scale of government subsidies for providers of renewable energy.

The new rules set tougher terms for government subsidies for energy sources such as wind and solar.

Source: WSJ

Politics Still Set to Sap India's Energy Sector

While some hope a new government could at last spark much-needed investment and reform in energy in India, analysts and industry veterans warn it will not be easy to change the outdated and overregulated sector. 

Source: Wall Street Journal

India's investment in renewable energy dips: US Report

Even as China invested more in renewable energy than the whole of Europe in 2013, India’s investment in renewable energy went down 15 percent to $6 billion (Rs.360.48 billion) last year, according to a latest Global Trends in Renewable Energy Investment 2014 report.

Globally, renewable energy’s share of electricity generation continued its steady climb last year despite a 14 percent drop in investments to $214.4 billion.solar power

Source: Odisha Sun Times

ABB to Boost Indian Power Grid

 ABB Ltd. (ABB - Snapshot Report) yesterday received a contract from Power Grid Corporation of India to construct a 400 kilovolt (kV) gas-insulated switchgear substation to the boost transmission capacity in the southern region. The new substation is expected to increase inter-regional transfer capacity between the western and southern regions of the country. This order is booked in the first quarter and is valued at $18 million. ABB expects to complete the construction by 2016.

Source: Zacks