| In order to increase the focus on sustainable energy development, the Ministry of New and Renewable Energy (MNRE) has been allocated a budgetary provision of Rs 253.06 crore (US$ 56.27 million) for research and development (R&D) for the first four years of the 11th Five Year Plan |
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Significantly, the Government of India will allot Rs 1,500 crore (US$ 332.92 million) to banks and finance companies at a low interest rate of five per cent over the next two years to finance solar energy projects.
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Further, the Indian hydrocarbon sector is also intensifying the interest in the area, with 34 Oil & Gas blocks on offer in the 9th round of New Exploration & Licensing Policy (NELP -IX).
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NELP-IX Presents Opportunity in Indian Upstream Hydrocarbon Sector
CII: Mar 09, 2011 |
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| With 34 Oil & Gas blocks on offer in the 9th round of New Exploration & Licensing Policy (NELP -IX), Government of India is looking for more investment in the exploration and production sector, as per Mr Sudhir Bhargava, Additional Secretary, Ministry of Petroleum & Natural Gas… |
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Govt earmarks Rs 1.5k cr for solar projects over next 2 yrs
The Economic Times: March 21, 2011 |
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| The Government will allot Rs 1,500 crore (US$ 332.92 million) to banks and finance companies at a low interest rate of five per cent over the next two years to finance solar energy projects… |
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Rs. 253.06 Crore for R&D in Renewable Energy Sector
Press Information Bureau: Mar 09, 2011 |
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| A budgetary provision of Rs 253.06 crore (US$ 56.27 million) has been made for research and development (R&D) in new and renewable energy for the first four years of the 11th Five Year Plan of the Ministry of New and Renewable Energy (MNRE)… |
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Government of India and the World Bank Sign $7.98 Million Agreement for Watershed Project in Uttarakhand
Press Information Bureau: Mar 21, 2011 |
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| The Government of India and the World Bank have signed agreements amounting to International Development Association (IDA) credit of US$ 7.98 million additional finance for the Uttarakhand Decentralized Watershed Development Project, which will support the ongoing watershed development Project in Uttarakhand… |
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India- Uruguay Sign MoU for Cooperation in Renewable Energy
Press Information Bureau: Feb 25, 2011 |
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| Dr Farooq Abdullah, Minister for New and Renewable Energy has assured Uruguay of India’s commitment for South-South cooperation in matters related to new and renewable energy. Signing the MoU for cooperation in renewable energy, the Minister observed that this is a promising area where both countries can work together… |
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National Solar Mission on track: Ministry
The Hindu Business Line: March 16, 2011 |
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| The progress in implementing the Jawaharlal Nehru National Solar Mission has been satisfactory and is on schedule as per the Ministry of New and Renewable Energy (MNRE). The Ministry has sanctioned 802 mega watt (MW) capacity of grid-connected solar projects and 36 MW of off-grid solar projects… |
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IFC to invest $15 mn in Simran Wind Project
Business Standard: March 15, 2011 |
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| International Finance Corporation (IFC) will invest US$ 15 million in corporate equity financing to Simran Wind Project Pvt Ltd (Simran). The company PLANS TO use the money to finance its pipeline projects worth US$ 40 million in Tamil Nadu… |
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Solairedirect Energy in talks to set up 20MW Gujarat solar plant
The Economic Times: March 14, 2011 |
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| Solairedirect Energy India is in talks to collaborate with the Government of Gujarat to set up a 20 mega watt (MW) plant at the Solar Energy Park in Kutch at an estimated cost of Rs 300 crore (US$ 66.42 million)… |
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KENERSYS invests Rs 50 cr in new facility
Business Standard: March 14, 2011 |
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| KENERSYS, a wind turbine manufacturer, has set up a new facility at Baramati near Pune with an investment of Rs 50 crore (US$ 11.07 million). The company will manufacture 250 turbines every year, with a total power generation capacity of 500 mega watt (MW)… |
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Punjab may generate 1,500 Mw from canal turbines in a year
Business Standard: March 14, 2011 |
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| The Government of Punjab is inviting the industry to partner in clean energy projects to generate power. The state is focusing on harnessing power and plans to exploit the rivers and canals crisscrossing the state as a part of its irrigation network for producing energy… |