Companies & Sectors
Suzlon signs EoI with Karnataka for developing 2,500 mw of wind power

 

Suzlon would invest about Rs15,000 crore to develop 2500MW wind power in Karnataka over next five years

Bangalore: Wind turbine manufacturer Suzlon Group has signed an expression of interest (EoI) with the government of Karnataka to develop 2,500 megawatt (MW) of new wind power capacity in the state between 2012 and 2017, reports PTI.

 

Suzlon Group Chairman Tulsi Tanti said: "This not only reinforces Karnataka's position as one of India's leading markets in wind energy, but also illustrates their commitment towards creating a low-carbon economy in the state".

 

The EoI covers the development of new capacity in wind farms across the state, with developments planned in the districts of Bijapur, Chitradurga, Tumkur, Dharwad, Raichur, Chikmagalur, Mysore, Belgaum and Bagalkot. The investment is worth Rs15,000 crore, according to a company statement.

 

Under the EoI signed during GIM 2012, the Karnataka government would obtain the necessary permissions, registrations, approvals and clearances for the development of wind farms in the state.

 

Suzlon, in turn, would play the role of a developer and facilitate the flow of investments into the state through its customers investing in wind energy. Karnataka has large untapped wind energy potential, with estimates ranging around 13,000 MW according to Centre for Wind Energy Technology (CWET).

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COMMENTS

param

5 years ago

so what is the message to the insurer? you can harass a common man & get away with paying 5000 as an entertainment fee???
i believe a fine involving reimbursement of costs, an apology from the CEO, and an exemplary fine of 1 lakh to be deposited to the court would be more reasonable...

Tata Steel to set up Rs30,000 crore plant in Karnataka

 

The six million tonne per annum capacity steel plant would come up at Haveri district in Karnataka

Bangalore: Tata Steel has announced plans to set up a Rs30,000 crore steel plant in Karnataka as the government-sponsored Global Investors' Meet (GIM) 2012 commenced.

 

The six million tonne per annum capacity plant would come up in Haveri district, Tata Steel Vice-Chairman B Muthuraman said at the inaugural GIM function.

 

Aditya Birla Group CMD Kumar Mangalam Birla said the group proposed to invest Rs7,000 crore in the state. This includes setting up a four million tonne per annum capacity cement plant at a cost of Rs2,750 crore.

 

Before the event, state government officials said that Karnataka aims to sign MoUs envisaging an investment of Rs6 lakh crore during GIM 2012 being held to showcase the state's investment potential.

 

At the inauguration, Chief Minister DV Sadananda Gowda said during the GIM 2010 the state signed 389 MoUs with (envisaged) investments amounting to Rs3.92 lakh crore. Of this amount, more than 72% of the projects are in various stages of implementation, he added.

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COMMENTS

Aban

5 years ago

Has anybody ever tried to inquire into the dark past of India Cements when it was almost finished before it suddenly resurrected itself as if by the touch of a magic wand--a billion dollar mystery? All those in the know in high places in Tamil Nadu are tight-lipped about it, but someone in the media might perhaps delve into the depths of this rise from the ashes of destruction by an almost dead company?

True Indian

5 years ago

This also shows why YSR Reddy was so popular with people. Such politicians ( there is one family in Maharashtra too) loot the Govt and like robinhood, disperse among masses a small part. The political Party is impressed by their mass base and lift them up . They do not touch them, even if they know. Otherwise why did CBI came into pictuere only when Jagan Reddy started behaving larger than party? Congress never knew YSR's real nature.

Saleem

5 years ago

AP is best in developing innovative ideas both in Science&Technology Advancement as well as in Scams like these.

a v moorthi besides TIHAR

5 years ago

BCCI chief is notorious for his deal makings. rather it is surprising why enforcement directorate is not after him for FEMA violations in IPL saga. this particular case regarding investments in group of companies held by Jagan is devoid of any merit because all investments will be duly approved by Board members of the investing company. if any thing only FI who have lending stake in companies of Srinivasan can seek clarifications but now even they cannot do because that will land officials of FI into trouble for failure of post release monitoring with specific reference to end use of funds.

sohan modak

5 years ago

I am sure that the business model described above is favorite of many politicians and must have been in practice for quite some time in Maharashtra, Karnataka, Tamil Nadu, and possibly Haryana. And guess who would be involved?

NTPC secures funding for Meja plant in Uttar Pradesh

 

Meja Urja Nigam, a jv between NTPC and UP Vidyut Utpadan Nigam signed loan agreement for Rs7,575 crore with a consortium of 16 banks led by SBI

Mumbai: State-run National Thermal Power Corp (NTPC)  said it has achieved financial closure for the Rs6,000-crore Meja thermal power project in Uttar Pradesh, reports PTI.
 
Meja Urja Nigam, a 50:50 joint venture of NTPC and Uttar Pradesh Rajya Vidyut Utpadan Nigam, has signed loan agreement for Rs7,575 crore for the project which consists of two units of 660mw each, the company said in a statement.
 
The agreement was signed with a consortium of 16 banks led by State Bank of India, it said, adding the facility was syndicated by SBI Caps.
 
"The loan has a disbursement period of 60 months and is to be repaid in 10 years thereafter. The funds would be utilised for financing capex of the project," the release said.

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