Finance

Tangedco’s reputation for late payments scared off developers in its latest two, failed tender exercises. The solution? Get government body SECI to hold the auctions, because everyone knows it pays on time!

A unit of Piramal Group will be investment and project manager for the fund, prompting speculation cash will be spent on assets developed by Mytrah Energy.

Waste-to-energy, battery lifecycle solutions and hazardous waste management will make up an increased share of Fortum’s business in future. While solar will continue to be a mainstay for the Finnish clean energy company in India, Fortum wants to deepen its presence in the electric vehicle space with smart solutions, according to Sanjay Aggarwal, the company’s India MD, and Juha Suomi, area director for Asia, who spoke exclusively to pv magazine.

The court appears to have sided with solar developers who are complaining about a revision made late last year which ensured only 70% of the costs associated with PV project establishment would qualify for a discounted rate of goods and services tax.

The procurement – for PV capacity at the Dholera Solar Park – attracted bids for just 300 MW as developers shunned a tariff ceiling of Rs2.75/kWh.

India’s leading solar region has been forced to apply the brakes to new solar with its power distribution companies having fulfilled their renewable purchase obligations for the next two years. Projects driven by federal agencies will continue, however.

KKR has also applied to become a co-sponsor of the power infrastructure investment trust and plans to acquire additional 15% stake in it. The deal marks KKR’s first infrastructure investment in Asia.

The company has identified renewables, transmission and distribution, and value-added businesses such as rooftop solar, smart metering, electric vehicle (EV) charging stations and micro grids in rural areas as key growth areas.

Reduction in solar park charges was not enough to attract developers in the same numbers that flocked to a separate 500 MW exercise two months earlier. The Raghanesda Solar Park continues to be a headache after a previous attempt was cancelled because the tariffs were deemed too costly.

Founded in 2006, Bengaluru-based Orb is a rooftop solar provider that manufactures panels and provides finance for SMEs through a collateral-free loan that matches the payback period for its solar systems. Orb has sold more than 160,000 units in India, with cumulative installations of around 65 MW of PV rooftop capacity.