Headlines

Delhi Considers ‘Rent-a-Roof’ Solar Power Program To Meet Rising Electricity Demand

 A solar rooftop policy mastered by Indian Prime Minister Narendra Modi in Gujarat during his tenure as Chief Minister is set to be replicated across the country, starting with the national capital Delhi. The aggressive expansion of this solar power program may help bridge the energy access gap and fulfill the government pledge to provide 24/7 electricity to all consumers.

Source: Clean Technica

Government to take measures on usage of Bio-fuels

The Indian Government will soon make some necessary legal changes that will help encourage the use of bio-fuels in India; these changes will comply with international standards further aiding the development of cars running on bio-fuel.

Source: Car Dekho

Inox Wind gets SEBI approval for IPO

 Wind turbine maker Inox Wind Ltd, a part of $2 billion Inox Group, has got the approval for floating its initial public offer (IPO) from capital market regulator SEBI, becoming the first firm to get the green signal for a public float after the new government took over.

Inox Wind had applied just over a year ago.

Source: VC Circle

India Infrastructure Finance Company Ltd likely to fund acquisition of energy assets by Indian companies abroad

The government may allow India Infrastructure Finance Company Ltd (IIFCL) to finance acquisition of energy assets by Indian companies abroad. To fund such deals, the infrastructure financing firm's UK-based subsidiary may raise money through bonds. 

"There have been some preliminary discussions. We are evaluating the option," said a government official, requesting anonymity. IIFCL (UK) already has a $5-billion credit line from the Reserve Bank of India. 

Source: Economic Times

Solar plant to power Chennai airport

Solar power could soon drive Chennai airport. Airports Authority of India is planning a solar plant that will meet the airport's requirements and the surplus power supplied to the grid.

The move is part of a plan to install solar power plants at 30 airports across the country and an MoU was signed between AAI and Solar Energy Corporation of India in May. The project is expected to generate a total of 50MW in the first phase. This will save on power bills and also reduce carbon emissions.

Source: Times of India

Low Carbon Society Would Boost Global Economy by $2.6tn Annually

 The global economy could be boosted by a gargantuan $2.6tn each year if the world's governments became more energy efficient and reformed their nations' waste management and public transport, according to a World Bank report. 

The report, produced in association with philanthropic group ClimateWorks Foundation, said that cutting emissions and moving towards a more low carbon society would boost global economic output by 2.2% by 2030.

Source: IB Times

MNRE in favour of restoring accelerated depreciation benefits

India’s ministry of new and renewable energy (MNRE) has taken up the issue of restoration of accelerated depreciation benefits with the finance ministry, said Piyush Goyal, India’s minister in charge of power, coal, and new and renewable energy, according to a statement after meeting the wind energy associations. The plan is to revive interest in the wind energy sector by reintroducing the tax and fiscal incentive that was removed. The reinstatement of accelerated depreciation benefits would reduce tax and strengthen cash flows.

Source: Live Mint

Nagpur Municipal Corporation loses Rs 254 crore for delaying JNNURM projects

 The Nagpur Municipal Corporation (NMC) has paid heavily for dilly-dally tactics. Due to inordinate delay on its part, the civic body has lost funds of 254 crore pending with the Centre for six projects sanctioned under Jawaharlal Nehru National Urban Renewal Mission (JNNURM). The ministry of urban development's JNNURM central sanctioning and monitoring committee has made it clear that no funds would be released for projects not completed before March 31, 2014. 

Source: Times of India

SpiceJet Selects GE Aviation for Flight Efficiency Services

Jet engines, components and integrated systems provider GE Aviation on Tuesday said budget carrier SpiceJet has chosen its flight efficiency services (FES) to substantially reduce its annual fuel bill of $600 million (Rs. 3,600 crore at 1 dollar = 60 rupees).

Under the pact, GE Aviation will provide flight data analytics and fuel management services to optimise SpiceJet's operational efficiency, which aims at substantially reducing airline's $600 million fuel bills, a release said here.

Source: NDTV Profit

Sunil Hitech Engineers bags 5 MW solar project in Maharashtra

Under Jawaharlal Nehru National Solar Mission (JNNSM) Phase II Batch I Sunil Hitech Engineers announced that the Company has completed land acquisition of the 5-MW solar project in Maharashtra bagged under Jawaharlal Nehru National Solar Mission (JNNSM) Phase II Batch I on international bidding basis from Solar Energy Corporation of India (SECI) for 375 MW solar power project in open category. The Company is in final stages of financial closure. The project is expected to be completed by April 2015.

Source: Business Standard