Archive for ‘solar power’

26/06/2014

CaptureSolar Raises $107 Million for India Solar Project – Businessweek

CaptureSolar Energy Ltd. raised $107 million for a solar park to supply Indian businesses suffering from rising costs for power generated mostly from coal.

The utility will get 86 percent of the $125 million for the project from Cyprus-based Concept Solutions & Innovations Ltd., CaptureSolar Chief Executive Officer Raju Bhosale said today by phone. Pune-based CaptureSolar will pay for the rest.

The 75-megawatt photovoltaic park will be completed in two phases by March 2015 and charge about 6 rupees (10 U.S. cents) a kilowatt-hour under a 25-year contract, Bhosale said. The price is about 8 percent below the level industrial and commercial businesses currently pay, he said.

via CaptureSolar Raises $107 Million for India Solar Project – Businessweek.

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16/04/2014

India Signs Power Contracts for 700 Megawatts of Solar Capacity – Businessweek

India signed contracts to purchase solar power from companies building 700 megawatts of capacity awarded in a national auction.

English: Photovoltaic system with 19 Megawatts...

English: Photovoltaic system with 19 Megawatts peak near Thüngen/Bavaria Deutsch: Solarpark/photovoltaikanlage mit 19 Megawatt Spitzenleistung nahe Thüngen/Bayern (Photo credit: Wikipedia)

The government is waiting to sign purchase agreements for the remaining 50 megawatts from the auction in February, Tarun Kapoor, joint secretary at the Ministry of New and Renewable Energy, said today in an interview in New Delhi. The agreements, which lock in rates for the power generated for 25 years, bind developers to complete the plants within 13 months.

Two developers dropped out after winning bids, including St. Peters, Missouri-based SunEdison Inc. (SUNE:US), which said last week it gave up a 20-megawatt project because local equipment shortages and prices make it unviable. The other developer that Kapoor didn’t identify forfeited its project after failing to get permission from its parent to proceed, he said.

via India Signs Power Contracts for 700 Megawatts of Solar Capacity – Businessweek.

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07/03/2014

BBC News – Chaori Solar in landmark Chinese bond default

Solar panel maker Shanghai Chaori Solar Energy Science & Technology has defaulted on interest payments owed on its bond, say media reports quoting the firm.

Solar panels

It is the first Chinese firm ever to default on its onshore corporate bonds.

On Tuesday, the firm warned it would be unable to make a 89.8 million yuan ($14.6m; £8.7m) interest payment on a one billion yuan bond issued in 2012.

The default is seen as a test case for the Chinese government.

Investors have assumed in the past that the Chinese government would bail out any Chinese corporation in danger of defaulting.

The move to allow Chaori to default signals a new stance.

“There’s never been a corporate bond default, [so] investors have been conditioned that there is no such thing as risk in China,” Leland Miller, president of research firm China Beige Book, told the BBC.

“The Chinese leadership is trying to break down this misunderstanding that everything is backstopped.”

Chaori Solar said it planned to pay 4 million yuan ($654,000) of the interest payment due on the billion yuan bond, which was taken out two years ago.

via BBC News – Chaori Solar in landmark Chinese bond default.

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04/03/2014

India Plans to Manufacture Equipment at Solar Park as Glut Eases – Businessweek

India plans to add solar-equipment manufacturing capacity at a new park in Andhra Pradesh state, saying demand from plants under construction will help the industry recover from a glut of panels.

Solar Energy Corp. of India, the state-run company spearheading the industry’s development, signed an agreement with Andhra Pradesh Industrial Infrastructure Corp. for a solar park in the state that will have 1,000 megawatts of power capacity, as well as factories to produce modules and cells, Rajendra Nimje, managing director of SECI, said in an interview.

The plans come as panel prices appear to be bottoming out after falling more than 60 percent in two years amid a global supply glut. Local manufacturers, such as Indosolar Ltd. (ISLR), Moser Baer India Ltd. and Websol Energy System (WESL) Ltd., who idled about half of their 1,000 megawatts of production capacity, will get fresh orders as new projects are built, Nimje said.

via India Plans to Manufacture Equipment at Solar Park as Glut Eases – Businessweek.

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25/02/2014

EDF-Backed Acme Starts 25-Megawatt Solar Plant in India – Businessweek

Acme Solar Energy Ltd., backed by Electricite de France SA’s renewable unit, started generating power from a 25-megawatt solar plant in central India.

Map of India showing location of Madhya Pradesh

Map of India showing location of Madhya Pradesh (Photo credit: Wikipedia)

The completion of the project in Khilchipur, Madhya Pradesh state, more than doubles Acme Solar’s photovoltaic holdings to 43 megawatts, the company said by e-mail.

The developer, a venture between EDF Energies Nouvelles, Luxembourg-based Eren Groupe SA and India’s Acme Group, plans to jointly develop 200 megawatts of solar capacity.

via EDF-Backed Acme Starts 25-Megawatt Solar Plant in India – Businessweek.

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17/02/2014

India Budget Plans 2 Gigawatts Solar Farms to Double Capacity – Businessweek

India plans to start work on at least 2 gigawatts of solar farms in the year starting April that would nearly double its current photovoltaic capacity.

English: Solar power plant at Om Shanti Retrea...

English: Solar power plant at Om Shanti Retreat Centre, Gurgaon (Photo credit: Wikipedia)

The proposed new capacity would take the form of four so-called mega solar power projects capable of generating more than 500 megawatts each, Finance Minister Palaniappan Chidambaram said today in New Delhi in a speech announcing an interim budget that would provide funds until a new parliament is elected in national polls due by May.

A record 15 percent of about 800 million voters will be eligible to cast ballots for the first time as the rising cost of electricity turns into an electoral issue. With the solar farms announced today and already existing targets, India is planning a sixfold increase in solar capacity by 2017 to reduce blackouts and diversify away from coal and gas-fired plants hamstrung by fuel shortages.

via India Budget Plans 2 Gigawatts Solar Farms to Double Capacity – Businessweek.

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08/02/2014

Hindustan Powerprojects to Build Three North India Solar Plants – Businessweek

Hindustan Powerprojects Pvt., formerly known as Moser Baer Projects Pvt., has signed power-sale contracts for three solar plants in northern India.

The company will build two photovoltaic projects of 15 megawatts each in Punjab state and a 20-megawatt plant in Uttar Pradesh, it said in an e-mailed statement today.

Hindustan Powerprojects didn’t provide details describing the terms under which it would sell the electricity to the local state governments.

via Hindustan Powerprojects to Build Three North India Solar Plants – Businessweek.

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