Waaree Group launches portal to expand retail business…

 

Diversified conglomerate Waaree Group launched a portal waareemall.in with an aim to provide an online platform for selling its solar products.

Through this platform, Waaree will be able to offer a large range of its solar products like solar mobile charger, solar bag, solar battery charger, solar camping light and other portable products, the company said in a statement.

"This online venture will help us in extending our business and facilitate our customers with convenient access to our products," chairman and managing director Hitesh Doshi said.

The portal will help the company enrich its customer database as the e-commerce venture follows a B2C model, he said.

Waaree Group is a multi-diverse technology group having forte in various verticals such as solar energy, industrial valves and level gauges and petroleum equipment.

"In future, the platform will also sell our industrial retail products like valves and level gauges," Doshi said.

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IREDA plans to raise 1000 cr via bond issue; files DRHP…

 

New Delhi based company "Indian Renewable Energy Development Agency Limited" (IREDA) has filed DRHP for its public issue of tax free, secured, redeemable, nonconvertible bonds in the nature of debentures of face value of Rs 1,000 each for an amount aggregating up to Rs 1,000 crores in fiscal 2014.

The bonds will be issued in one or more tranches. The company is a non-banking financial institution registered with RBI, engaged in extending financing services to projects and schemes for generating electricity and energy through renewable sources and conserving energy through energy efficiency.

The proceeds of the issue may be utilised towards financing renewable energy and energy efficiency projects and augmenting our resource base.

The bonds shall be listed on the BSE and NSE within 12 Working Days from the issue closure date. Karvy, AK Capital and RR Investors will be the lead manager, Link Intime India Private Limited will be the registrar to the issue.

However, SBICAP Trustee Company Limited has appointed as a debenture trustee to the issue.

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NTPC signs $430 m loan accord with Japan Bank…

 

India’a leading power producer and state-owned NTPC Ltd on Monday announced it had entered into two foreign currency loan agreements with the Japan Bank for International Co-operation (JBIC) for around $430million (approx. Rs. 2,650 crore) loan for its Kudgi and Auraiya thermal power projects.

The loan agreements were signed by Kulamani Biswal, Director (Finance), NTPC and Mr. Hiroshi Watanabe, Governor, JBIC here on January 25, an official statement issued here on Monday said.

The company signed a term loan of $350 million with the JBIC to finance the supplies and services from Japan as well as India for the Kudgi Super Thermal Power Project Stage-I (3x800 MW) located in Karnataka. The facility consists of a CIRR based fixed interest tranche and a floating interest rate tranche, with a door to door maturity of about 15 years.

The second loan signed with the JBIC is for 8,021 million yen to finance the renovation and modernisation of gas turbines at NTPC’s Auraiya gas power station. This facility is a CIRR based fixed interest rate facility with a door to door maturity of over 12 years. Kudgi Power project is based on super critical technology which has lower carbon intensity compared to projects based on sub-critical technology.

In both the loans, 60 per cent of the facility amount is provided by JBIC and the balance by commercial banks. The loans are provided on a stand alone basis without any sovereign guarantee reflecting the NTPC’s strong credit quality. This is the first time JBIC has directly extended a direct loan facility to NTPC. JBIC previously extended guarantee for a untied loan of $380million for NTPC’s Barh Stage-I project.

With an installed capacity of 42454 MW through 16 coal based, 7 gas based, 2 solar renewable and 7 Joint Venture power stations, NTPC contributes nearly 28 per cent of electricity in the country, with about 19 per cent of India's installed capacity.

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Orient Green Power's generation capacity crosses 500 MW…

 

Orient Green Power, part of the Shriram Group, today announced its generation capacity has crossed 500 MW and it is keenly evaluating major opportunities to propel growth.

"Post commissioning of biomass plants at Madhya Pradesh (Narsinghpur), Rajasthan (Kishanganj) and Andhra Pradesh (Marikal), the on ground operational capacity of the company now exceeds 500 MW," Orient Green Power Ltd (OGPL) said in a release.

The company's operating capacity stands at 502 MW comprising 416 MW of wind assets and 86 MW of biomass assets.

Orient Green Power has its wind assets located across various states namely, Tamil Nadu, Andhra Pradesh, Gujarat and Karnataka.

Its biomass plants with a total capacity of 86 MW are situated in Tamil Nadu, Rajasthan, Madhya Pradesh, Andhra Pradesh and Maharashtra.

The company said it is keenly evaluating major opportunities arising in the space especially wind business, which could further propel its growth of the business.

"This milestone of 500 MW represents capacities which are installed and operating with fuel sourcing arrangements and power off take contracts in place," S Venkatachalam, Managing Director OGPL, said.

He added, "In addition to our existing capacity, we are close to commissioning another 40 MW of capacity under our wind and biomass verticals which will help us to further consolidate our position as a leading player in the renewable energy business."

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