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SECI extends deadline for 3,000 MW solar tender
Posted on 23rd April 2019
The Solar Energy Corporation of India (SECI) has extended the deadline for receiving bids for the government’s manufacturing-linked solar scheme to May 14. This is the third time the SECI has extended the date – original deadline was March 18, 2019. The scheme seeks to set up 3 gigawatt (GW) of solar plants against 1.5 GW of manufacturing units.

This is the second phase of the tender launched in January 2019, after the government’s maiden call for a similar contract had to be cancelled due to tepid industry response. SECI’s initial invitation for a 10 GW of manufacturing-linked solar tender had received quotes for only 2 GW capacity put forward by Azure Power. The scheme had failed to attract developers even after the SECI had sweetened the terms for bidders multiple times.

The Solar Energy Corporation of India (SECI) has extended the deadline for receiving bids for the government’s manufacturing-linked solar scheme to May 14. This is the third time the SECI has extended the date – original deadline was March 18, 2019. The scheme seeks to set up 3 gigawatt (GW) of solar plants against 1.5 GW of manufacturing units.

The development comes with the slowing pace of adding renewable generation capacities. In FY19, as much as 8.6 GW of renewable capacity were added, down from 11.8 GW commissioned in FY18. As much as 41 GW of renewable energy projects have been tendered in the first three quarters of FY19, while nearly 17 GW of tenders have been cancelled at the same time, mostly due to muted response from project developers.

At the end of Q3FY19, nearly 18 GW of solar projects were under various stages of development. The country plans to have 175 GW of installed renewable power capacity by FY22.

The target, however, now seems achievable as 45 GW of hydro power plants would now be counted as renewable energy after a recent Cabinet decision.


Other Latest News
BoB, PNB, other lenders hold 2-day meeting to generate ideas for growth
Posted on 19th August 2019
Public sector lenders, including PNB, BoB and Corporation Bank, have organised a two-day consultation process at branch level, seeking suggestions to make the sector future ready and be a catalyst in economic growth. The consultations were held over a period of two days from August 17-18 under the direction of Department of Financial Services, Ministry of Finance.

Sebi to ease buyback norms for companies with housing finance, NBFC arms
Posted on 19th August 2019
Capital markets regulator Sebi is planning to ease its norms for buyback of shares by listed companies, especially those having subsidiaries in housing finance and NBFC sectors. According to top officials, a proposal in this regard is expected to be discussed by Sebi’s board at its meeting this week. The repurchase of shares by listed companies is governed by the Buyback Regulations of the Securities and Exchange Board of India (Sebi) as well as by the Companies Act.

Paytm promotes CFO Madhur Deora as President
Posted on 19th August 2019
New Delhi: Gearing up for the next phase of growth in consumer Internet and financial services, digital payments player Paytm on Monday announced the promotion of its Chief Financial Officer Madhur Deora as the company's President.

Prior to joining Paytm in October 2016, Deora served as Managing Director in Citigroup's investment banking business.


State Bank of India mulls repo-linked home loans for existing borrowers
Posted on 19th August 2019
Kolkata: State Bank of India said it is contemplating extending the benefit of the repo-linked lending rate to the existing home loan borrowers while hoped for better traction in consumer demand in the second half of the fiscal expecting the government to offer fiscal stimulus.

Apollo Hospitals’ profit focus is key to retaining investor interest
Posted on 19th August 2019
Shares of Apollo Hospitals Enterprise Ltd have gained 10% since it announced its June quarter results on 13 August. With the performance reassuring investors on asset optimization and profit metrics, the stock hit a new 52-week high of ₹1,4687 on Friday.

Losses the company’s new ventures, housed under Apollo Health and Lifestyle Ltd, reduced significantly.


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