In a landmark tender, the Indian Railways has allocated large scale renewable energy projects to four companies. According to media reports, Railways Energy Management Company Limited (REMCL) has allocated 960 megawatts of renewable energy capacity to four companies. The winners are required to supply round-the-clock renewable power to Indian Railways. … [continued]
Oil and gas major Shell has announced plans to acquire Sprng Energy, a renewable energy platform owned by the investment firm Actis. Shell will pay $1.55 billion to acquire Sprng Energy, one of the leading renewable energy project developers in India. The company has 9.6 gigawatts in its renewable energy … [continued]
Yet another Indian renewable energy company has sold off a part of its portfolio to raise funds. The latest transaction comes at a time when developers across the country are struggling with financial liquidity and staying away from large-scale auctions.
India completed its seventh national-level wind energy auction despite less that impressive participation from project developers. The Solar Energy Corporation of India awarded just 40% of the initially offered capacity in this auction.
Problems do not seem to go away for the Indian renewable energy sector as project developers continue to face a multitude of problems and choose to stay away from competitive auctions.
The Indian spree of wind energy auctions seen over the last two years has resulted in an upsurge in orders for some of the leading wind turbine manufacturers. This recent jump in orders comes as developers look to meet the deadlines to commission their respective projects.
