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NTPC to piggyback ISA to expand solar footprint
Posted on 4th June 2019
State-owned NTPC has urged the International Solar Alliance (ISA) to appoint it a consultant for 1,000 MW of rooftop solar projects the latter plans to implement across several countries. NTPC proposes to charge 6-10% of the project cost as upfront consultancy fees, depending on the capacities of the solar installations.

ISA is a treaty-based intergovernmental organisation headquartered in India, which plans to mobilise more than $1,000 billion of investments by 2030 to promote solar technology in countries lying between the tropics of cancer and capricorn. As on date, 52 countries have signed and ratified the ISA framework agreement. NTPC, along with other PSUs like SECI, IREDA, PGCIL, REC, PFC, CIL and PFC, has contributed $1 million each toward ISA funding.

NTPC, the twelfth largest power producer in the world, has more than 900 MW of solar and wind generation units in its portfolio. By 2030, it plans to have a total power production capacity of 1,30,000 MW, out of which, solar would comprise 30,000 MW. In the international market, the company already has its presence as a power project consultant in places such as Nigeria, Kenya, Saudi Arabia, Kuwait and the UAE.

The first assembly of the ISA had provisionally approved the prospective annual budget of $9 million for calendar years 2019 and 2020. India has put in $16 million to the ISA in a one-time corpus, apart from the annual commitment of $2 million in the first five years.

Private companies such as Japan’s SoftBank have funded $2 million and China’s CLP has given $1 million to the organisation. ISA has also recently floated a tender for procuring 2.7 lakh solar water pumping systems for 22 member countries.

Related Companies: NTPC Limited   

Other Latest News
I-T dept issues tax refunds of Rs 1.57 trillion, up by 27.2% in 2019
Posted on 13th December 2019

The Income Tax Department has issued as much as Rs 1.57 trillion of income tax refunds in the first eight-and-a-half-months of the current fiscal compared to Rs 1.23 trillion in full 2018-19 fiscal, Revenue Secretary Ajay Bhushan Pandey said Friday.

At a press conference called to disclose impact of steps taken to boost consumption in the economy so as to uplift growth from a six-year low, Pandey said tax refund cases have gone up by 17 per cent to 2.16 crore.


Andhra govt passes 'Disha Bill' to provide speedy trials, stricter punishment for sexual offences
Posted on 13th December 2019

In a historic move, the Andhra Pradesh legislative assembly on Friday passed AP Disha Act 2019 to protect women and children in sexual offences cases by providing speedy investigation and justice to victims.

Chief Minister YS Jaganmohan Reddy said the Nirbhaya case and the recent Disha case have compelled the need for AP Disha Act which has many salient features.


Tamil Nadu overtakes Karnataka to become No 1 in renewable energy
Posted on 13th December 2019

Tamil Nadu has overtaken Karnataka to become India's top renewable power generating state in FY20 (till October).

Of the total renewable power generation in the country, nearly 17.2 per cent was from Tamil Nadu. According to Central Electricity Authority (CEA) data in 2019-20 (upto October) 85,774.92 million units (MU) of power was generated through renewable energy, of which 14,771.69 MU was generated by Tamil Nadu followed by Karnataka (14,730.08 MU), Gujarat (10,505.54), Andhra Pradesh (9,638.70), Maharashtra (8,942.55) and Telangana (3794.99 ).


After 50% returns, 2020 may be even better year for Indian primary market
Posted on 13th December 2019

India's market for initial public offerings is expected to gather pace in 2020 after this year's relatively small crop saw strong gains in the stock market.

The 14 mainboard IPOs this year have risen by an average of more than 50% since listing, data compiled by Bloomberg show.


HDFC rallies 2% to hit all-time high of Rs 2,363; analysts remain bullish
Posted on 13th December 2019

Shares of Housing Development Finance Corporation (HDFC) hit an all-time high of Rs 2,363, up 2 per cent on the BSE on Friday after the company completed the acquisition of HDFC Credila Financial Services. The stock surpassed has its previous high of Rs 2,357 hit on July 18, 2019.

"The Corporation has completed acquisition of 11.47 million equity shares, representing 9.12 per cent of total equity of HDFC Credila for a total consideration of Rs 395 crore, from its promoter Ajay Bohora and Anil Bohora," HDFC said in a regulatory filing.


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