SPIRIT OF MUMBAI

In the midst of a global lockdown in which Avaada Energy emerged as the winner in the bidding for 2 GW solar projects auctioned by the National Hydroelectric Power Corporation (NHPC) online under the e-reverse auction method. The successful online auction would entail capex of over Rs 11,000 crores. SoftBank, Axis Energy Ventures (Brookfield promoted), O2 Power (Temasek promoted) and EDEN Renewables are the other winners. The auction took place during the COVID-19 induced global lockdown. Despite businesses struggling across the world, India remains the hotspot for renewable energy investors. In a tweet earlier, R.K. Singh, the Union Minister of Power and New & Renewable Energy, said, “During lockdown we kept our interaction with stakeholders alive through virtual platforms and also brought out new bids. This tariff is the result of several measures which we have undertaken during the past few months to enhance the confidence of investors and to promote ...

  Asian Development Bank (ADB) President Mr. Takehiko Nakao and   Asian Infrastructure Investment Bank   (AIIB) President   Mr. Jin Liqun   met today in ADB’s headquarters and discussed a range of strategic and operational issues. Mr. Nakao and Mr. Jin signed the Co financing Framework Agreement For Sovereign Operations that will guide overall co financing arrangements between the two institutions going forward, including regular meetings to discuss co financing matters. So far, ADB and AIIB have co financed 5 projects, comprising 4 sovereign loans in Bangladesh, Georgia, India, and Pakistan, and one collaborative transaction in Myanmar through ADB’s Private Sector Operations Department. Further co financing for sovereign and non sovereign projects is being actively pursued. ADB and AIIB signed the Memorandum of Understanding for Strengthening Cooperation in May 2016. ADB has shared with AIIB its experiences and practices regarding environmenta...