Sep 6, 2013 - In September’s first week Indian Hero Group says it would build 1 GW of wind and solar parks by 2016-17, Dominion Virginia wins offshore wind lease for 2-GW project and UK-based Foresight unveils GBP-200-million solar fund IPO.
On Wednesday daily The Economic Times said that India’s leading two-wheeler maker Hero Group intends to pour more than USD 1.1 billion (EUR 801m) into renewable energy capacity by 2016-17. For that purpose, the company has established Hero Future Energies. The subsidiary targets 800 MW of wind farms by 2016-17 plus 150 MW of solar and 50 MW of small hydropower capacity.
More details on: http://renewables.seenews.com/news/indias-hero-to-spend-usd-1bn-on-wind-solar-by-2017-report-375817
PAKISTAN GREENLIGHTS 700-MW SOLAR PROJECT
Another report from the region made headlines this week. Pakistan Today said Sunday that the government the Punjab province had given its nod to a 700-MW solar proposal in the Cholistan Desert. The Quaid-e-Azam photovoltaic (PV) plant will be installed in several stages by a newly-established state-owned firm. The first phase will involve the construction of eight 50-MW solar facilities. Building works will start immediately, following the government approval.
More details on: http://renewables.seenews.com/news/pakistan-greenlights-700-mw-solar-project-report-375739
DOMINION VIRGINIA WINS OFFSHORE WIND LEASE, PLANS 2-GW PROJECT
To the West, Dominion Virginia Power said Wednesday it had won the second offshore wind energy lease sale in the US for an area of 112,800 acres (5,180 ha) off the Virginia coast. The company, part of US energy provider Dominion Resources Inc (NYSE:D), intends to install a 2-GW wind farm there tol generate enough power for 700,000 households. Dominion expects to install the first turbine in about 10 years.
More details on: http://renewables.seenews.com/news/dominion-virginia-wins-offshore-wind-lease-plans-2-gw-project-375994
FORESIGHT PLANS GBP-200M SOLAR FUND IPO
On Friday UK alternative asset manager Foresight Group said it planned an up to GBP-200-million (USD 312m/EUR 237m) initial public offering (IPO) in London for its Foresight Solar Fund Ltd. The listing, expected in October, is in line with the firm’s growth strategy, motivated by improved conditions on the solar power market. Foresight said it would use the proceeds to back a portfolio of ground-mounted solar parks in the UK.
More details on: http://renewables.seenews.com/news/foresight-group-plans-gbp-200m-solar-fund-ipo-376003
SUZLON EYES USD 749M FROM SECURITIES PLACEMENT
Indian wind turbine maker Suzlon Energy (BOM:532667) is also raising money to support its financial needs. It said Monday it intended to sell about USD 755m (EUR 572m) worth of newly-issued securities. Under the transaction Suzlon intends to allot equity shares, global depository receipts (GDRs), American depository receipts (ADRs), foreign currency convertible bonds (FCCBs) or non-convertible debentures (NCDs) with warrants or other securities convertible into equity shares. The firm will seek shareholder approval at an annual general meeting on September 20.
More details on: http://renewables.seenews.com/news/suzlon-eyes-usd-749m-from-securities-placement-375458
CHINA, US TOP 3 GW OF UTILITY-SCALE SOLAR, GERMANY IS CLOSE
On Monday a Wiki-Solar report showed that China and the US have now surpassed 3,000 MWp of cumulative solar capacity from utility-scale parks, i.e. plants of 10 MW and more, while Germany hit 2,950 GWp at the end of August 2013. In the first eight months of 2013 the US installed 1,488 MWp of utility-scale solar parks thus reaching 3,051 MWp of cumulative utility-scale solar capacity. China added 1,416 MWp, bringing the total to 3,776 MWp. In Germany, however, utility-scale solar installations for January-August 2013 were only 129 MWp after the government terminated the preferential tariffs for solar projects of more than 10 MWp.
India and Spain were the other two countries in Wiki-Solar’s top five ranking in terms of utility-scale solar capacity.
More details on: http://renewables.seenews.com/news/china-us-top-3-gw-of-utility-scale-solar-germany-is-close-375501
(USD 1 = EUR 0.758)
(GBP 1 = USD 1.560/EUR 1.185)
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