Moser Baer Solar enters CDR cell

- Advertisement -

India’s solar power ambitions may get a jolt with the first major company in the industry Moser Baer Solar headed to the corporate debt restructuring cell with Rs 7.39 billion in restructuring, says an Economic Times report.

“In April, companies including Moser Baer Solar, Gontermann-Peipers (India) and PCH Retail have approached the corporate debt restructuring cell,” said a banker in the know of the development. “These cases will be discussed in the next meeting,” he said.

“Solar energy companies are involved in manufacturing of solar panels and are also procuring land and setting up solar energy projects,” said Pashupathy Gopalan, MD, Sun Edison India. “In the past one year, these companies have been under strain as the European market, particularly the Italian government, has dialed out and reduced its solar policy. The demand is much lower than supply and prices of solar panels have dipped over 50 per cent,” said Gopalan.

- Advertisement -

The Italian market has slowed in anticipation of the government’s decision on a new solar subsidy scheme to be rolled out in June. In February, banks had cleared debt restructuring for Moser Baer India. Banks had an exposure of Rs 20 billion to the company.

India’s renewable energy investment potential is estimated to be nearly $2 billion, but experts say investors are seeing demand only for hydropower generation while solar power and wind energy are stuck with taxation and regulatory issues.

Rating agency Crisil in its report said it expects banks to restructure loans worth 2 trillion by March 2013.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

India achieves 166 GW of renewable energy target

0
Power and New & Renewable Energy Minister RK Singh declared the numbers in a written reply to the Lok Sabha. India has achieved 165.94GW of...

SEZ: 100% WFH Facility Extended till Dec 2023

0
The union commerce ministry said that IT/ITeS units in special economic zones can allow 100 per cent of their workforce to work from...

Collins Aerospace Opens Tech & Ops Centers in Bengaluru

0
Inaugurated last week, the new facilities are the key first steps of larger Raytheon Technologies investment and growth strategy in India Operations Center...

Exclusive

India achieves 166 GW of renewable energy target

0
Power and New & Renewable Energy Minister RK Singh declared the numbers in a written reply to the Lok Sabha. India has achieved 165.94GW of...

Collins Aerospace Opens Tech & Ops Centers in Bengaluru

0
Inaugurated last week, the new facilities are the key first steps of larger Raytheon Technologies investment and growth strategy in India Operations Center...

My Dream Is To See India As A Top Electronics Product Nation

0
Hailing from a highly educated, partition-affected family with a rich musical and cultural lineage, being a pioneer of the computer revolution in India, Ajai...

Important Sectors

India achieves 166 GW of renewable energy target

0
Power and New & Renewable Energy Minister RK Singh declared the numbers in a written reply to the Lok Sabha. India has achieved 165.94GW of...

Collins Aerospace Opens Tech & Ops Centers in Bengaluru

0
Inaugurated last week, the new facilities are the key first steps of larger Raytheon Technologies investment and growth strategy in India Operations Center...

Foxconn injects $500M in Indian unit

0
The Singapore subsidiary has invested in the Indian unit amid challenges with China’s zero-Covid stance. Apple Inc.’s Taiwan-based partner, Foxconn announced on Thursday that its...

Optoma Launches Eco-Friendly Laser Projectors

0
Laced with the latest laser technology and higher power conversion efficiency: Optoma A 34% reduction in size as compared to the previous generation...

36 Volvo Electric Trucks Ordered by Australia

0
Placed by Team Global Express, these trucks will hit the streets of Sydney in 1Q23. This is Volvo’s largest electric truck order to date...

Manufacturing

Foxconn injects $500M in Indian unit

0
The Singapore subsidiary has invested in the Indian unit amid challenges with China’s zero-Covid stance. Apple Inc.’s Taiwan-based partner, Foxconn announced on Thursday that its...

ESDM-Hub in the Making: EPIC Partners With Odisha

0
The proposed initial product line for the collaboration will include manufacturing an Indian tablet PC with global quality Underprivileged people of the state...

SiC Substrate Manufacturing Tech: ST Set to Cooperate With Soitec

0
Soitec technology adopted by STMicroelectronics for future 200mm Silicon Carbide substrate production Global semiconductor giant, STMicroelectronics and Soitec, a leading semiconductor materials manufacturer, recently announced...

Luxoft Expands Presence in India with Opening of New Chennai Office

0
The new site will extend Luxoft’s ability to understand, develop, and seamlessly deliver tailor-made, end-to-end software solutions to clients in Chennai and across the...

Veira Group Set to Manufacture webOS Hub 2.0 Smart TVs

0
Veira—a strategic ODM India partner for the OS—aims to manufacture over a lakh webOS Smart TVs for leading Indian brands webOS Hub is...