With High Debts of Rs 370 Cr, Su-Kam to Face Auctions Updated On Sat, Aug 4th, 2018 by Saurenergy In April 2018, the tribunal admitted Su-Kam to be a Non-Productive Asset (NPA). In November 2017, SBI, owing to the high debts, had referred Su-Kam to the National Company Law Tribunal (NCLT) for bankruptcy proceedings. In April 2018, the tribunal admitted Su-Kam to be a Non-Productive Asset (NPA). Now up for bidding, Su-Kam has a […] Read more
Andhra Pradesh to Give Farmers Power to Sell Power Updated On Mon, May 14th, 2018 by Saurenergy The project will be launched on a pilot basis in Visakhapatnam, Vizianagaran and Srikakulam district. The first 75,000 solar pump sets worth Rs 3.5 lakh each will be provided to farmers in these districts. On an estimate the pilot project will cost around Rs 2,625 Crore. Andhra Pradesh government is planning to initiate a scheme […] Read more
ISA to Create Ecosystems for Startups in Solar Innovations Updated On Mon, Apr 30th, 2018 by Saurenergy With the help of global corporates, we expect this transformative action to be undertaken on ground, resulting in access to light for the 1 billion unconnected people, said Upendra Tripathy. India-led International Solar Alliance (ISA) will create ecosystems for startups in solar innovations by enabling incubation, partnerships, access to finance and standards. The task force, set up […] Read more
SunSource Energy Aims to Set-Up 200 MW Solar Park in UP Updated On Sat, Feb 17th, 2018 by Saurenergy The project will be financed through a mix of debt and equity. Solar power solutions provider, SunSource Energy Pvt Ltd is planning to build a 200-mw solar park in Uttar Pradesh (UP) with an investment of Rs 900 crore. Commenting on the matter, SunSource Energy, President, and Co-Founder, Kushagra Nandan said, “At the Uttar Pradesh Investors Summit […] Read more
SunSource Energy Raises Fund from SBICAP Neev Fund via PE Investment Updated On Fri, Feb 16th, 2018 by Saurenergy This investment would be used in developing solar project assets in states with low levels of capital investment, namely Uttar Pradesh, Rajasthan, Madhya Pradesh, Bihar, Orissa, Jharkhand, West Bengal and Chhattisgarh. Solar energy products supplier, SunSource Energy Pvt Ltd has raised an undisclosed amount from the Neev Fund, which is a joint venture between SBI […] Read more
Azure Power Taps IBRD (World Bank) Loan to Scale its solar rooftop platform Updated On Fri, Jun 16th, 2017 by Saurenergy The loan is for 15 years with an interest rate of 8.35% per annum, one of the lowest interest rates availed by a solar power developer in the Indian solar sector to date. The loan will be utilized to scale Azure Roof Power, Azure Power’s solar rooftop platform. Azure Power, an independent solar power producer […] Read more
SBI to Finance Rs 400 crore for 100 MW of Rooftop Solar Power Projects Updated On Sat, Jun 3rd, 2017 by Saurenergy With the World Bank-funded capacity development program, the SBI aims to expand and incentivize the market for rooftop solar power projects by way of low cost financing. The State Bank of India has announced its decision to finance 100 MW Solar Power Project worth Rs 400 crore. To this regard, the SBI has secured a […] Read more
European Investment Bank Sanctions EUR 200 Million for Indian Large-Scale Solar Power Projects Updated On Mon, Apr 3rd, 2017 by Saurenergy The State Bank of India gets EUR 200 Million long-term loan from European Investment Bank to fund five different solar power projects in Tamil Nadu and Telangana. The European Investment Bank has confirmed new support for solar power generation in India in partnership with the State Bank of India. The EUR 200 million (INR 1400 […] Read more
