This will also be the first such foreign investment in the renewable energy sector, which is a key area of importance for the Narendra Modi government.
Govt has plans of installing 100 GW of solar power in India by 2022, instead of an earlier target of 20,000 MW, which itself looked ambitious,
Already, the Adani Group and New York-listed SunEdison have announced plans to invest $4 billion to set up India’s biggest solar equipment plant.
The recent $4-billion deal between Indian infrastructure company Adani and America’s SunEdison to set up a large photovoltaic manufacturing facility in the country.
Demand for old fashioned bulbs is stagnant for two years, indicating that a change is already underway as CFL and LED bulbs have been making their entry into higher-income households.
Many experiences with substandard products have made people suspicious of solar tech. Only import regulations can check China's “e-waste dumping”.
“That’s what broadly we would invest in the solar space in addition to what we have already done,” Hindustan Powerprojects chairman Ratul Puri told ET.
Global mining giant Vedanta is eyeing the power generation business in South Africa as a sequel to its planned $780 million investment in the country.
IREDA had come up with a similar tax-free bond issue in February this year to raise Rs 500 crore.
Another IPO aspirant is Sumant Sinha, founder and CEO of ReNew Power, in which Goldman Sachs invested Rs 1,000 crore a year ago.
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