Demand for India Renewable Credit Reaches 3-Month High

Posted on June 27th, 2014 by

Demand for India Renewable Credit Reaches 3-Month High

Demand for Indian renewable-energy credits rose to a three-month high last month as state utilities move to comply with clean-energy targets after being slapped with fines. There were 139,184 bids to buy biomass, hydropower and wind credits, the most since March, according to data compiled by REConnect Energy Solutions Pvt. The Indian government requires state-run electricity firms and large industrial companies to get as much as 10 percent of their energy from renewable sources.

Suzlon Regains Lead in India’s Wind Turbine Market

Suzlon Energy Ltd. regained its position as India’s top wind-turbine supplier from Wind World Ltd. Suzlon installed 403 MW of turbines out of a total of 2,055 MW for the industry in the year that ended March 31, according to data collated by the Indian Wind Turbine Manufacturer’s Association. Suzlon lost the top spot last year for the first time in at least a decade as it labored to carry out orders after committing India’s largest convertible-bond default.

Mitsubishi Heavy Affirms Rejection of Alstom Bid

Mitsubishi Heavy Industries Ltd., the equipment manufacturer who’s joint bid for Alstom SA’s power business was thwarted, said energy will remain the focal point of its expansion efforts.  The Tokyo-based company, which makes everything from rockets to cruise ships regrets the failure of its Alstom bid, said CEO Shunichi Miyanaga. Mitsubishi Heavy’s joint bid with Siemens AG for the energy business of France’s Alstom was shunned when the French government favored General Electric Co.’s competing offer.

France Sells GDF Stake for Alstom

France sold a 1.5 billion euro stake in GDF Suez SA, the nation’s biggest natural gas distributor, as it seeks funds to acquire a holding in Alstom SA. France proposed to acquire as much as a fifth of Alstom from Bouygues SA as part of a $17 billion deal for General electric Co. to buy Alstom’s gas-turbine unit. The state sold 3.1 percent, reducing its holding to 33.6 percent. The shares were priced at 20.18 euros.

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