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  • AzureAzure Power Solar Plant
Azure Power (NYSE: AZRE), a leading independent solar power producer in India, announced that its portfolio has crossed the 2 GW milestone by winning four 50 MW projects for a cumulative capacity of 200 MWs in the state of Maharashtra. The solar power project was auctioned by Maharashtra State Power Generation Co. Ltd. (Mahagenco), the second highest generation company in India, which is owned by the Government of Maharashtra. Azure Power will sign a 25 year Power Purchase Agreement (PPA) with Mahagenco at a tariff of INR 3.07 (~US 4.7 cents) per kWh. The project will be developed outside a solar park and is expected to be commissioned in 2019. These 200 MWs won are in addition to the recently 130 MWs won with Maharashtra State Electricity Distribution Company Limited (MSEDCL) in Maharashtra, bringing Azure Power’s total portfolio to 337 MWs, making the company one of the largest solar power suppliers to the state.
 
Commenting on the occasion, Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “We started with the vision of providing affordable solar power for generations and the mission to be the lowest cost power producer in the world. Through our collective efforts and support from our stakeholders, we have achieved this important milestone of crossing a 2 GW portfolio through large scale, mini/micro grid and rooftop solutions across the entire country. This achievement is a testament to our strong project development, engineering, and execution capabilities. We are delighted to make this contribution towards the realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation.”
 
Azure Power was founded by Inderpreet Wadhwa in 2008 with a vision of providing affordable solar power in an efficient, sustainable and socially responsible manner. Azure Power has rapidly grown to become one of the largest solar power developers in the India. The company started its journey over ten years ago by developing India’s first private utility scale solar plant, a 2 MW plant in Awan Punjab. Over the last decade, the company has witnessed tremendous growth and has installed over 1,000 MWs of solar capacity, with a footprint across 23 states in India. Approximately 80% of Azure Power’s projects are with counterparties with domestic debt ratings that are A or higher and the company is backed by several marquee investors such as Caisse de dépôt et placement du Québec (CDPQ), International Finance Corporation (IFC), HelionVenture Partners, Foundation Capital, Société de Promotion et de Participation pour la Coopération Économique (PROPARCO), Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) and Netherlands Development Finance Company (FMO).

About Azure Power

Azure Power (NYSE: AZRE) is a leading independent solar power with a pan-Indian portfolio. With its in-house engineering, procurement and construction expertise and advanced in-house operations and maintenance capability, Azure Power provides low-cost and reliable solar power solutions to customers throughout India. It has developed, constructed and operated solar projects of varying sizes, from utility scale, rooftop to mini & micro grids, since its inception in 2008. Highlights include the construction of India’s first private utility scale solar PV power plant in 2009 and the implementation of the first MW scale rooftop project under the smart city initiative in 2013.
 
For more information, visit: www.azurepower.com.
 
Forward Looking Statements
 
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s future financial and operating guidance, operational and financial results such as estimates of nominal contracted payments remaining and portfolio run rate, and the assumptions related to the calculation of the foregoing metrics. The risks and uncertainties that could cause the Company’s results to differ materially from those expressed or implied by such forward-looking statements include: the availability of additional financing on acceptable terms; changes in the commercial and retail prices of traditional utility generated electricity; changes in tariffs at which long term PPAs are entered into; changes in policies and regulations including net metering and interconnection limits or caps; the availability of rebates, tax credits and other incentives; the availability of solar panels and other raw materials; its limited operating history, particularly as a new public company; its ability to attract and retain its relationships with third parties, including its solar partners; its ability to meet the covenants in its debt facilities; meteorological conditions and such other risks identified in the registration statements and reports that the Company has filed with the U.S. Securities and Exchange Commission, or SEC, from time to time. In the press release, portfolio and the project represent megawatts capacity of solar power plants pursuant to PPAs, signed or allotted or where the Company has been cleared as one of the winning bidders or won a reverse auction but has yet to receive a letter of allotment. All forward-looking statements in this press release are based on information available to us as of the date hereof, and the Company assumes no obligation to update these forward-looking statements.

Read more: Azure Power Marks New Milestone with the...

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  • RR to L: Dhaval Radia (Global Business Leader) and Divya Arya (Marketing Leader, Asia) receiving the Economic Times Most Promising Brand 2018 Award on behalf of team Greenlight Planet
Greenlight Planet has been recognised by Economic Times as the “Most Promising brand 2018” at a ceremony held on Friday, the 23rd of March 2018. The Promising Brands platform was an endeavour by the Economic Times to recognize brands, which have stood firm in the winds of globalization and have truly become a part of popular culture and day to day lives.
 
With 1.3 billion individuals across the globe and 31 million households in India still living without electricity, Greenlight Planet’s solutions provide a powerful mechanism for large-scale, sustainable impact. This award is the result of 9 years of continuous innovation in Greenlight Planet’s product portfolio and unique distribution models that have led to it emerging as a global market leader in the off-grid sector. The company has sold more than eight million of its high-quality Sun KingTM solar range of portable lamps, home systems, fans, radios and televisions benefitting more than 30 million individuals across 65+ countries in Asia, Africa, and Latin America. In India alone, more than 2 million rural homes have replaced unsafe and expensive fuel based sources of light with bright, cost-effective, and environment friendly Sun KingTM solar powered systems. These products have led to significant social and economic benefits including dramatic improvements in study-time for children, productivity of small business owners and household savings for families.
 
Receiving the award, Dhaval Radia, Global Business Leader said, “We are grateful and humbled to receive this recognition from The Economic Times. It is a testament to the hard work & impact created by all of our immensely talented teams, globally. We will continue to set a benchmark for the accessibility and proliferation of decentralised renewable energy to the people who need it the most. Having nearly doubled the revenues during FY17-18, we are currently the only company in the sector to have demonstrated consistent profitability over the last three years, establishing that our business models are sustainable and scalable. Our fundamentals are firmly in place, and encouraged by the positive measures undertaken by the government in the solar sector. Greenlight Planet is poised to enter a new growth trajectory."
 
To enable the most cash-constrained households to afford Sun King solutions, Greenlight Planet’s newest offering EasyBuyTM is a payment solution that enables unbanked customers to buy Sun KingTM products on an installment plan. With innovative products and services in the pipeline, the company hopes to further increase its distribution presence through strategic partnerships with financial institutions, governmental organizations, NGOs and companies with rural distribution networks.
 
The company most recently won the coveted Rural Marketing Association of India award for ‘Best Sales Promotion campaign of the Year’.

About Greenlight Planet
 
Greenlight Planet has sold over 8 million Sun King solar home energy products to off-grid households around the world. Greenlight Planet reaches remote, off-grid customers through a unique business model involving a vast network of micro entrepreneurs, more than 600 global strategic distribution partners, and its proprietary EasyBuy (“pay-as-you-go”) installment payment technology that makes safe, high-quality solar energy products affordable for all. Winners of 2016 Ashden Awards, Greenlight Planet is currently present in 65+ countries and serves over 30 million consumers. Find out more at https://www.greenlightplanet.com

Read more: Greenlight Planet Wins the Economic Times Most...

Micro & Small Enterprises Vendor Meet at NTPC

05th Apr, 2018

Micro & Small Enterprises (MSEs) Vendor Meet was organised by Corporate Contracts & Materials on 4th April 2018 for an interaction with MSE vendors to understand their concerns and to increase their participation in business with NTPC.

During the meet Shri Gurdeep Singh, CMD unveiled a Mobile App to help vendors track their payments. In his address, CMD emphasized the need for speedy payments to vendors and development of an online system for faster award of purchase orders.

Presentations were made about features of the Vendor Portal and Enlistment Policy of NTPC on the occasion. Queries of Vendors regarding payment and enlistment issues were also addressed. About 50 Small and Micro Enterprises were represented in this meet.

NTPC intends to organise such meets regularly Pan India basis to strengthen contribution of MSE’s in NTPC growth story.


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Read more: Micro & Small Enterprises Vendor Meet at NTPC

We are working towards a Healthier Planet and Clean India as our Social Objective-Power Minister Shri R.K. Singh

08th May, 2018

NTPC has been at the forefront of Agro Residue and Municipal Solid Waste Management, to give the capital and NCR cleaner air. NTPC pro-actively ran a pilot project to use bio- mass for power generation, which proved that bio-mass conversion into power is a viable solution to better air quality. The intent is to generate power while keeping India’s environment healthy while we contribute to the Swachh Bharat programme”, Shri R.K. Singh, Hon’ble Minister of State (I/C)- Power and New & Renewable Energy, said, while speaking at the inauguration of NTPC’s two –day conference on “Agro Residue and Municipal Solid Waste to Power: Challenges and Way Ahead for India.

He said, “Our long-term social objective is that of a healthier planet and there are costs attached to attain this objective. Our intent is to design policies so that our long-term social goals are met for clean India. Agro residue and municipal solid waste can both be used for power generation, we just need to address the challenges to optimally leverage this process.

Speaking on the occasion, Shri A.K. Bhalla, Secretary Power, GOI said, “NTPC is the flagship company of the whole country and I would like to complement the NTPC management for bringing in the spirit of innovation to tackle these issues for a clean environment. I believe this conference is an ideal platform for all stakeholders to collate and interact on imperatives and issues facing the sector and use them at power projects on Pan-India basis. The key takeaways from this conference are going to pave a path for progression and a change for the better tomorrow. We extend our full support for this initiative

Sharing his thoughts on the conference, Mr. Gurdeep Singh, CMD, NTPC said, “This initiative was started sometime back when we faced an issue with the city’s air-quality last year in the month of October. Our ministry proactively came out with the policy framework where we worked cohesively to provide a viable solution towards segregating and optimally utilising Agro Residue and other solid -wastes.


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I Squared Capital, an independent global infrastructure investment manager, has signed an agreement through its ISQ Global Infrastructure Fund II, to acquire a 100 percent interest in TIP Trailer Services, a leading pan-European and Canadian trailer leasing and services company, from HNA Group (International) Company Limited.

 

Headquartered in Amsterdam and operating in 17 countries, TIP is one of the leading companies in its field in markets across Europe including Germany, the UK, Italy, France, Spain and the Benelux countries, as well as in Canada. It has a fleet of over 66,000 trailers and 86 trailer service centers serving approximately 7,700 customers, including numerous global logistics operators and retailers.

 

“Our investment in TIP is the result of a detailed review of global transportation opportunities that provide essential links while benefiting from macro-economic tailwinds,” said Adil Rahmathulla, Partner of I Squared Capital. “With strong market positions across Europe and a sizeable business in North America, TIP’s global reach is an excellent fit for I Squared Capital. We look forward to working with TIP’s seasoned executive management team and roster of world-class logistics and retail customers to continually deliver essential services and position the business to drive growth across Europe, North America and beyond.”

 

“This is the start of an exciting new chapter for TIP and we believe that as an infrastructure investor that knows our sector well, I Squared Capital will be a strong long-term partner for us,” said Bob Fast, CEO of TIP. “Our business is well-positioned for growth in the transportation equipment leasing and maintenance services sector in Europe and North America, and we are glad to have a partner with the capital to invest in our fleet and enable us to deliver even better service to our valued customers.”

 

I Squared Capital is a global infrastructure investor with over $12 billion of assets under management and focusing on energy, utilities, telecom and transport. Select portfolio companies include the Viridian Group, a leading integrated Irish utility with conventional generation, renewable generation, and supply; Grupo T-Solar, one of largest solar platforms in Spain with 392 megawatts of photovoltaic and concentrated solar power generation capacity; and American Intermodal Management, a transportation platform leasing new marine chassis with GPS technology to retailers, logistics companies and shipping lines in the U.S. intermodal supply chain.

 

Linklaters is legal advisor to I Squared Capital. EH Global Capital is the financial advisor to HNA, and CMS is HNA’s legal advisor.

 

About I Squared Capital

 

I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, telecommunications and transport in the Americas, Europe, and Asia. The Firm has offices in New York, Houston, London, New Delhi, Hong Kong and Singapore.

 

About TIP Trailer Services

 

TIP Trailer Services is one of Europe and Canada’s leading equipment service providers. TIP Trailer services specializes in trailer leasing, rental, maintenance and repair, as well as other value-added services and provide these to transportation and logistics customers across Europe and Canada. Headquartered in Amsterdam, TIP services their customers from 86 locations spread over 17 countries.

 

 

 

 

 

 
Read more: I Squared Capital to Acquire Leading...

HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has inaugurated the 200 megawatt (MW) first stage of the 800MW third phase of the Mohammed bin Rashid Al Maktoum Solar Park. Dubai Electricity & Water Authority (DEWA) is implementing the third phase using the Independent Power Producer (IPP) model at Levelised Cost of Energy of 2.99 US cents per kilowatt hour using photovoltaic solar panels. The 3rd phase is being implemented in partnership with a consortium led by Abu Dhabi Future Energy Company (Masdar) and Électricité de France (EDF) Group. The second and third stages of this phase, which have a capacity of 300MW each, will be completed in 2019 and 2020 respectively.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180506005033/en/

 
Dubai Adds 200MW Solar Energy, Increasing Clean Energy Share To 4% of Installed Capacity (Photo: AET ...

Dubai Adds 200MW Solar Energy, Increasing Clean Energy Share To 4% of Installed Capacity (Photo: AETOSWire)

HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, noted that the plant is the first in the Middle East and North Africa (MENA) to use a single-axis solar tracking system, which increases energy efficiency by 20-30%. It uses over 800,000 self-cleaning solar cells that maintain a high-performance level. The project provides over 60,000 residences with clean energy, reducing over 270,000 tonnes of carbon emissions annually. It was implemented with over 2.4 million accident-free man-hours.

 

Al Tayer noted that the project has increased the share of clean energy to 4% of Dubai’s total installed capacity. Capacity of the photovoltaic and Concentrated Solar Power (CSP) IPP–based projects currently under construction is 1,500MW.

 

“Masdar and DEWA have played an active role in enhancing the cost efficiency and productivity of renewable energy by deploying the latest advances in technology. Solar power complements conventional energy in a relationship that makes perfect economic sense in this region, given the number of clear sunny days in the year, by helping to reduce energy costs through peak shaving,” said HE Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Chairman of Masdar.

 

“It is a great honour for the EDF Group to contribute to the Emirate of Dubai’s energy transition. I am delighted with the trusting relationship we have forged with our partners, DEWA and Masdar, to develop carbon-free energy in the region and beyond,” said HE Jean-Bernard Levy, Chairman and CEO of EDF Group.

 

*Source: AETOSWire

 

 
MULTIMEDIA AVAILABLE :
https://www.businesswire.com/news/home/20180506005033/en/
Read more: Dubai Adds 200MW Solar Energy, Increasing Clean...

Albioma Solar Réunion carried out the refinancing of the portfolio of photovoltaic projects in the Indian Ocean and established credit facilities to finance the Group’s new projects in the same area for the next 18 months.

The financing, amounting to nearly €110 million, will enable the Albioma Group to optimise the financing of its existing projects and to extend the maturity of the current debt while securing the future financing of projects won under recent invitations to tender launched by the French Energy Regulatory Commission or under feed-in tariffs.

Read more: ALBIOMA : signature of a €110 million financing...

At One Mega Event 2018, find out how mobile and futuristic technologies, and intelligent mobility in smart cities can tackle gender-based harassment and violence in public spaces. The expo will be held at Pragati Maidan, New Delhi from 23-25 May 2018.

Since women and girls are subject to the threat of sexual harassment and violence worldwide, this May, One Mega Event 2018 will host a special session titled, Metropolitan strategies to achieve Safe Cities for women and girls: The NUA and SDG as a real opportunity at Pragati Maidan, New Delhi.

Read more: One Mega Event 2018 to deliver women and girls...

NTPC Awarded for Financial Excellence

28th Feb, 2018

NTPC , the largest Power Utility of the Country has been awarded for Overall Best Financial Performance by Governance Now at the 5th PSU Awards ceremony held in Delhi. Shri K.P. Gupta, ED , Finance, Law & Company Secretary and Shri Aditya Dar, General Manager ( Finance), NTPC received the award

Award was presented by Shri Mansukh Lal Mandaviya, Hon'ble Union Minister of State for Shipping , Road Transport, Highways, Chemical & Fertilizers and Smt. Krishna Raj, Hon'ble Union Minister of State for Agriculture and Farmers Welfare in the presence of Shri Raju Srivastav, well known Stage Artist


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MoU between Govt. of Bihar and NTPC Limited of Bihar

15th May, 2018

A Memorandum of Understanding (MoU) was entered amongst Govt. of Bihar (GoB), Bihar State Power Holding Co. Ltd. (BSPHCL), Bihar State Power Generation Co. Ltd (BSPGCL), North Bihar Power Distribution Company Ltd.(NBPDCL), South Bihar Power Distribution Company Ltd.(SBPDCL), Bihar State Power Transmission Company Limited (BSPTCL) and NTPC Limited on 15th May 2018 at Patna for Performance improvement of Power Sector in the State of Bihar. The MoU was entered in the august presence of Shri Nitish Kumar, Chief Minister of Bihar, Shri R. K. Singh, Minister of State (Independent Charge) for Power and New & Renewable Energy, Govt. of India and Shri Bijendra Prasad Yadav, Energy Minister, Govt. of Bihar, Shri Pratyaya Amrit, Principal Secretary, Department of Energy, Govt. of Bihar, Shri Gurdeep Singh, CMD, NTPC Limited, Shri Anand Kumar Gupta, Director (Commercial), NTPC, Shri R. Lakshmanan, Managing Director, BSPGCL and other dignitaries.

The MoU envisages transfer of Barauni Thermal Power Station (720 MW) and transfer of Bihar State Power Generation Company’s (BSPGCL) equity in Kanti Bijlee Utpadan Nigam Limited (KBUN) & Nabinagar Power Generating Company (Pvt.) Limited (NPGC) to NTPC.

NTPC, a Maharatna Company under Ministry of Power, Govt. of India is the largest power generating company of India with a total installed capacity of 53651 MW (including JVs) from coal, gas, hydro, solar and wind power projects. NTPC is on an accelerated growth trajectory to meet this long-term targets and currently has 21,071 MW capacity under construction. Company has two operational coal mines. NTPC in the past has demonstrated strong capability in turning around under-performing state owned power stations.

Barauni Thermal Power Station (720 MW) which is located at Begusarai district in Bihar. The Plant comprise of Stage-I (2x110 MW) (under advance stages of R&M) and Stage-II (2x250 MW) (under construction).

NTPC with its expertise in construction of power projects and contract management capabilities is expected to complete the balance works and achieve sustained commercial operation of units in a time bound manner.

Nabinagar Power Generating Company (Pvt) Limited is a 50:50 Joint Venture Company of NTPC Limited and Bihar State Power Generation Company Limited (BSPGCL). The Company is developing a 1980 MW (3x660 MW) Nabinagar Super Thermal Power Project in district Aurangabad, Bihar. The project is currently under-construction.

Kanti Bijli Utpadan Nigam Limited (KBUNL) is a subsidiary company of NTPC Limited in Joint Venture with Bihar State Power Generation Company Limited (BSPGCL). Currently NTPC and BSPGCL owns 72.64%and 27.36% equity holding in KBUNL respectively. KBUNL owns and operates Muzaffarpur Thermal Power Station (MTPS) (2x110 MW+ 2x195 MW) situated at Kanti, District Muzaffarpur in the State of Bihar. Plant is under operation.

All the three power generation facilities are envisaged to be transferred to NTPC from the effective date to be notified by Govt. of Bihar through a Statutory Transfer Scheme. The transfer of these power stations to NTPC will result in their optimal & efficient utilization, bring the tariff down and benefit the people of Bihar at large.

Power from all the three power station shall be available to State of Bihar as before after approval by Ministry of Power, Govt. of India.


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NTPC Ltd. pays Interim Dividend of Rs. 2,251.01 crore for FY 2017-18

19th Feb, 2018

For the financial year 2017-18, NTPC Ltd. has paid an interim dividend of Rs. 2,251.01 crore, being 27.30% of the paid-up equity share capital of the Company.

The RTGS advice for the transfer of Rs. 1,401.81 crore to Government of India, being the share of Government of India in the interim dividend, was presented by Shri Gurdeep Singh, CMD, NTPC, to Shri R.K.Singh, Hon’ble Minister of State (Independent Charge) for Power and New & Renewable Energy in the presence of Shri Saptarshi Roy, Director (Human Resources & Finance), Shri A. K. Gupta, Director (Commercial), Shri. S.K.Roy, Director (Projects), Shri Prakash Tiwari, Director (Operations) and Shri Prasant Kumar Mohapatra, Director (Technical) from NTPC Ltd.

This is the 25th consecutive year that NTPC Ltd. has paid dividend.


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