REC Raises 5 Year Loan Of $75 million From SMBC Updated On Thu, Oct 21st, 2021 by Saurenergy In a first for any NBFC in India, REC Limited has successfully raised a USD 75 million, 5-year Secured Overnight Financing Rate (“SOFR”) linked Syndicated Term Loan on October 7, 2021, with Sumitomo Mitsui Banking Corporation (SMBC), Singapore Branch appointed as the sole Mandated Lead Arranger and Bookrunner. Along with the loan, REC has also […] Read more
UDAY Not Failure; New Version Likely in Budget: Power Minister Updated On Tue, Jan 28th, 2020 by Saurenergy Ahead of the upcoming Union Budget on Saturday, Power Minister R K Singh said that the UDAY (Ujwal DISCOM Assurance Yojana) scheme was not a failure, however, an improved version of the programme, meant for revival for Discoms and to ensure 24X7 power, maybe announced in Budget. During an event, the Minister said quoted PTI […] Read more
States That Miss UDAY Targets to Face Fund Cuts: R K Singh Updated On Thu, Aug 22nd, 2019 by Saurenergy The Centre has proposed a reduction in funds of the states that miss targets set under the 2nd version of UDAY scheme, which is at the draft stage The Centre has proposed a reduction in power sector funds of the states that would not maintain performance benchmarks set under the second version of Ujwal Discom Assurance Yojana […] Read more
Andhra Pradesh’s New CM Elect is Sold on Renewables, with Conditions Updated On Tue, May 28th, 2019 by Saurenergy In an Interview to India Today, YS Jaganmohan Reddy, who will be sworn in as the state’s next Chief Minister on May 30, expressed the hope that his regime will be able to use solar in a big way. In a wide ranging interview where he spoke about a host of issues, the incoming CM’s […] Read more
Indian UTs Signs MoU with the Government of India under the UDAY Scheme Updated On Mon, Nov 27th, 2017 by Saurenergy 27 States and 4 UTs have joined UDAY, and signed MoU with the Government of India till date. On the 2nd Anniversary of Ujwal DISCOM Assurance Yojana (UDAY), the Government of India signed four Memorandum of Understanding (MoU) under the Scheme with the State of Nagaland and with Union Territories (UTs) of Andaman & Nicobar […] Read more
With 2017 approaching, India aspires to become the fastest growing solar market in the world Updated On Tue, Dec 20th, 2016 by Saurenergy As the 2017 knocks at the door, it is worth taking a look at the Indian solar sector to analyze key the trends, challenges and outlook. Key highlights include record project volumes – both for capacity addition and issue of new tenders, improving power Distribution Company (DISCOM) financial position as a result of UDAY scheme, […] Read more
West Bengal government denies joining power scheme UDAY Updated On Fri, Nov 11th, 2016 by Saurenergy The West Bengal government on Thursday denied joining Center’s power scheme UDAY. Addressing the media state power minister Sobhandeb Chatterjee said that state government has refused to sign any agreement to join the scheme and does not believe or agrees to forcefully propagate center’s scheme reports Millenniumpost. Chatterjee also said “We have assured the Center […] Read more
Puducherry becomes the first UT to join “UDAY” scheme Updated On Thu, Aug 11th, 2016 by Saurenergy The Union Territory of Puducherry joined the UDAY scheme (Ujwal DISCOM Assurance Yojana) signing MoU with the Government of India for operational turnaround of the Union Territory’s Electricity Department. The MoU (Memorandum of Understanding) was signed in presence of the Minister of State for Power, Coal & New and Renewable Energy & Mines Piyush Goyal. […] Read more
Ministry of Power Raises RPO Trajectory for both Discoms and States Updated On Thu, Jul 28th, 2016 by Saurenergy Ministry of Power has raised the Renewable Purchase Obligations (RPO) trajectory for solar power in India. The Renewable Purchase Obligations makes it mandate for both Distribution Companies (Discoms) and states to purchase a certain percentage of their energy from renewable. Distribution Companies in India will now have to purchase 2.75% of their energy mix from […] Read more
