SOLAR POWER IN INDIA
'Damaging' Andhra Brand: Chandrababu Naidu promises action over Adani Group's US bribery case
Former Andhra Pradesh Chief Minister Chandrababu Naidu pledged to act on bribery allegations against the previous administration and the Adani Group. The US SEC alleges kickbacks were offered to secure a solar power deal. Naidu acknowledged the damage to the state's reputation and vowed to prevent future occurrences.
Competition regulator unlikely to take cognizance of media reports on Adani bribery issue
Ravneet Kaur, CCI Chairperson, stated that the regulatory body is unlikely to investigate the bribery allegations against the Adani Group based solely on media reports. Kaur emphasized that the CCI operates under the Competition Act and requires formal information filing before initiating any action.
SECI link to Adani bribe, fraud probe: What put India's solar power nodal agency in the dock?
The US Justice Department is investigating allegations of bribery involving Adani Group, Azure Power, and India's Solar Energy Corporation (SECI). The matter traces back to a 2019 (stalled) solar project, with accusations that Adani offered bribes exceeding $250 million to secure agreements with state discoms despite pricing disputes. Adani has denied the allegations.
Tata Power shares jump 2% after signing $4-billion financing pact with Asian Development Bank
Tata Power's shares rose 2% after the company partnered with the Asian Development Bank to explore financing options for renewable energy projects worth $4.25 billion. The projects include a solar-wind hybrid venture and a pumped hydro storage project, aligning with India's goal of 500 GW renewable energy capacity by 2030.
How Indian billionaire Gautam Adani's alleged bribery scheme took off and unraveled
Indian billionaire Gautam Adani and associates are facing U.S. charges for allegedly orchestrating a multi-million dollar bribery scheme to secure a solar energy contract. Authorities allege Adani bribed local Indian officials to ensure the purchase of solar power, misleading U.S. investors in the process. The alleged scheme, spanning several years, involved falsified documents and hidden transactions during fundraising efforts.
Executives of Azure Power, CDPQ violated FCP Act: US DoJ
The US Department of Justice has indicted executives from Azure Power and its shareholder CDPQ, alleging their involvement in a bribery scheme. They are accused of coordinating with members of the Adani family to secure government contracts for solar projects in India, violating the Foreign Corrupt Practices Act.
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No documentary basis yet to start a probe into Adani fraud charges: SECI Chief
India's Solar Energy Corporation (SECI) stated that an investigation into allegations of fraud and bribery against Gautam Adani and others is premature. SECI claims to have received no official communication from US authorities regarding the indictment and has found no evidence of wrongdoing within its ranks.
No direct agreement with Adani, says YSRCP on allegation of bribe for power purchase
The YSRCP clarified that the Andhra Pradesh government had no direct agreement with the Adani Group regarding solar power contracts. The party stated that the power purchase agreement was signed between Solar Energy Corporation of India Ltd (SECI) and AP Discoms, with the approval of regulatory bodies.
No comments for now over Adani solar power row, says TDP on allegations of bribes to Andhra officials for purchases
Telugu Desam Party (TDP), an NDA ally, is currently reviewing the allegations against the Adani Group regarding potential bribes paid for solar power contracts in Andhra Pradesh. The US Department of Justice has charged Gautam Adani and others, but the Adani Group denies these claims. TDP plans to announce its stance after a thorough examination of the situation.
No mention of wrongdoing by SECI in Adani case: CMD R P Gupta
SECI's CMD, R P Gupta, stated that the agency has not been implicated in any wrongdoing related to the Adani case. While US prosecutors allege bribes were paid to Indian officials for favorable solar power contracts, Gupta emphasized that SECI is not accused of any irregularities.
Asian Development Bank to provide $4.25 billion to Tata Power for clean energy power projects
Tata Power and the Asian Development Bank have partnered to explore financing options for renewable energy projects in India. The collaboration aims to support India's clean energy transition by funding projects such as solar-wind hybrid systems and pumped hydro storage, totaling an estimated $4.25 billion.
Domestic solar installations surge 167 pc to 16.4 GW in Jan-Sep: Mercom
India installed 16.4 GW of solar power capacity between January and September 2024. This represents a 167% increase compared to the same period in 2023. The growth was driven by the completion of previously delayed projects. As of September 2024, India's total solar capacity reached 89.1 GW. Rajasthan, Gujarat, and Karnataka lead in large-scale solar installations.
Hyundai Motor India to set up 2 renewable energy plants at Chennai facility
Hyundai Motor India is partnering with Fourth Partner Energy to establish a 75 MW solar and a 43 MW wind power plant at its Tamil Nadu facility. This initiative, representing a Rs 38 crore investment, aims to fulfill Hyundai's renewable energy requirements for 25 years, enabling the automaker to transition to 100% renewable electricity by 2025.
Tata Power shares tumble 2% after inking deal with Bhutan¡¯s firm for 5,000 MW clean energy projects
Tata Power's shares dipped 2.6% after announcing a partnership with Bhutan's Druk Green Power Corporation to develop 5,000 MW of renewable energy projects in Bhutan. The collaboration will focus on hydropower and solar projects, leveraging Bhutan's resources and India's energy demands.
Best Bird Baths for Every Garden Style from Classic to Artistic
This article guides readers through a selection of the best bird baths available, highlighting features like durable materials, elegant designs, and innovative solar-powered options. Each bird bath is reviewed with specifications, in-depth analysis, and reasons to buy, helping shoppers create an inviting oasis for their feathered visitors.
UP's solar-powered Jal Jeevan Mission to shine at Good Governance Conference in Raipur
Uttar Pradesh will present its innovative use of solar power in Jal Jeevan Mission projects at a national conference. With over 80% of these projects powered by solar energy, the state aims to serve as a model for others, showcasing cost-effectiveness and environmental sustainability.
Best Solar Lights in India: Energy-Efficient Illumination (2024)
Are you looking for an energy efficient way to illuminate your space? If so, then continue reading this article to learn about the best solar lights in India which are readily available on Amazon. We have shared details about these lights in this article to help you find the right option for your home.
India's renewable energy capacity to touch 250 GW mark by March 2026: Icra
India's renewable energy capacity is projected to hit 250 GW by March 2026, fueled by a robust project pipeline and increased tendering activity. This growth will be driven by rooftop solar and commercial & industrial segments. However, land acquisition and transmission connectivity issues pose potential challenges to achieving the 2030 target of 500 GW.
ACME Solar shares zoom 10% to hit upper circuit. Here¡¯s what happened
ACME Solar Holdings' shares surged 10% after its subsidiary, ACME Sun Power, secured a significant loan of Rs 3,753 crore from REC Ltd. The funding will support the development and construction of a 320 MW Firm and Dispatchable Renewable Energy (FDRE) project in Rajasthan and Gujarat.
Reliance Power shares slide 5% after SECI issues showcause notices over fake bank guarantees
Solar Energy Corporation of India (SECI) issued a show-cause notice to Reliance Power and its subsidiary, Reliance NU BESS, for allegedly submitting fake bank guarantees. SECI discovered that the bank guarantee submitted by Reliance NU BESS was fake and has barred the companies from participating in its tenders for three years.
Days after listing, ACME Sun Power secures Rs 3,753 cr loan for projects in Rajasthan, Gujarat
ACME Sun Power, a subsidiary of ACME Solar Holdings, has secured a significant loan of Rs 3,753 crore from REC Limited. The funding will be used to develop and construct 320 MW of green energy projects in Rajasthan and Gujarat. These projects, in collaboration with SJVN, have secured PPAs and grid connectivity, signifying a step towards India's renewable energy goals.
Gentari to extend green footprint in India with $900 mn Brookfield Asset deal
Malaysia's Petronas' clean energy arm, Gentari Sdn Bhd, is set to acquire a portion of Brookfield Asset Management's renewable energy assets in India. The deal is valued at $900 million and includes a 2.2 GW portfolio. This acquisition will significantly expand Gentari's presence in the Indian renewable energy market. The deal involves both operational and under-construction projects.
Tata Power shares jump 2% as co commissions 126 MW floating solar project
Tata Power subsidiary completed a large floating solar project in Madhya Pradesh. The 126 MW project uses over 200,000 solar modules. It generates a significant amount of energy and reduces carbon emissions. The project overcame challenges like fluctuating water levels. It supplies power to the Madhya Pradesh Power Transmission Company.
Tata Power Renewable Energy commissions 126 MW floating solar project in MP
Tata Power Renewable Energy (TPREL) has completed a 126 MW floating solar project in Madhya Pradesh, built at a cost of Rs 596 crore. The project, located in the Khandwa district, is one of India's largest floating solar installations and will supply power to the state's transmission company. This achievement brings TPREL's total renewable energy capacity to 10.
Renewables share at 46 pc in total 453 GW power generation capacity: MNRE
India's renewable energy capacity has surpassed 200 GW, reaching 203.18 GW in October 2024, marking a significant 24.2 GW increase in just one year. This surge in renewable energy sources now accounts for over 46% of India's total installed power generation capacity of 452.69 GW, solidifying the country's commitment to sustainable energy solutions.
Global solar investment to hit $500 billion in 2024: What this means for India's green energy goals
India's renewable energy sector, particularly solar power, is experiencing remarkable growth. The country aims to reach 500 GW of installed renewable energy capacity by 2030. This ambition positions India as an attractive market for global investors seeking opportunities in the expanding solar energy sector. Financial support from domestic and international institutions is expected to facilitate this growth.
Reliance Power shares hit 5% lower circuit after SECI debars co from its tenders for 3 years
Reliance Power Share Price: Anil Ambani-led Reliance Power and its subsidiary, Reliance NU BESS, have been barred by SECI from participating in tenders for three years. This follows the submission of a "fake" bank guarantee document during a solar project bid. SECI discovered the discrepancy after the e-Reverse Auction, leading to the tender's cancellation.
Reliance Power to legally challenge Indian clean energy agency's ban
Reliance Power is taking legal action against a three-year ban imposed by India's top renewable energy agency, SECI. SECI alleges Reliance Power submitted a fraudulent bank guarantee for a clean energy project bid. Reliance Power claims to be a victim of fraud and has filed a police complaint against the third party involved in arranging the bank guarantee.
Solex Energy, SBI partner to provide finance for solar projects
Solex Energy and State Bank of India (SBI) have teamed up to provide solar financing options for commercial and industrial clients. SBI will offer loans up to Rs 10 crore under its Surya Shakti Solar Finance Scheme. Solex Energy will support customers with site evaluation, design, and regulatory approvals, while SBI ensures a seamless loan application process.
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