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ESAF Small Finance Bank and electric equipment manufacturer V-Guard Industries signed an agreement to provide financing options to customers looking to install solar rooftop power systems. Under the agreement, ESAF Bank will provide various financing options, including loans and attractive installment payment plans, a statement said. With the strategic alliance with ESAF Bank, it said, consumers can opt to finance up to 80 per cent of the total cost of the rooftop solar power system, including the cost of installation for residential or commercial applications. This collaboration will not only reduce the burden on customers to make an upfront payment but also enable them to generate their own electricity, thereby reducing their dependence on the grid, it said. This partnership will enable customers to switch to clean energy with ease and affordability, it added.
State-owned SJVN Ltd on Friday said it has got a letter of intent (LoI) for supply of 200 MW solar power to Bihar. "Bihar Renewable Energy Development Agency (BREDA) has issued LoI for procurement of 200 MW of power at a discovered tariff of Rs 3.11 per kWh from...SJVN from the company's grid connected solar power project being implemented in the state of Bihar," a company statement said. The LoI has been issued after approval of tariff by Bihar Electricity Regulatory Commission (BERC). SJVN will sign a power purchase agreement soon in this regard. Nand Lal Sharma, Chairman & Managing Director of SJVN said the company had bagged a grid connect solar power project in Bihar through an open competitive tariff bidding process for capacity of 200 MW during an e-reverse auction in August 2021. Sharma further said the tentative cost of construction and development of this project will be Rs 1,000 crore. The project is expected to generate 420.48 MU (million units) in the first year and .
Sterling and Wilson Solar on Saturday reported a consolidated net loss of Rs 76.02 crore for the June quarter against a net profit of Rs 17.22 crore in the quarter ended on June 30, 2020. Total income of the company rose to Rs 1,227.20 crore in the quarter under review from Rs 1,099.38 crore in the same period a year ago, according to a regulatory filing by the company. "Other expenses during the quarter ended 30 June 2021 include forward contract cancellation charges aggregating to Rs 80.46 crores. A few of these contracts, with a corresponding cost of Rs 49.15 crores, have been re-booked during the quarter, as the corresponding revenue against such forward contracts is to be accrued in subsequent periods." About the impact of pandemic, it stated that the Management believes that the Group will continue its business in the foreseeable future, so as to be able to realise its assets and discharge its liabilities in the normal course. During the quarter ended 30 June 2021, the ...