Initial exploration and drilling to be funded by Development Bank of Ethiopia as part of World Bank collaboration

MUMBAI: Tata Power BSE -1.13 % is in early-stage talks with IDFCBSE -1.87 % Private Equity Fund-owned Green Infra Ltd to merge the renewable energy assets of both companies, a person with direct knowledge of the development said.

The transaction, if consummated, will create India's largest renewable power producer. IDFC PE has appointed investment banker Lazard to examine different options to raise capital, including a merger. "We cannot comment on this specific market speculation. Green Infra is a growing company with fund requirements. So, we are looking for equity infusion in the company," said IDFC Private Equity's managing director Satish Mandhana. Mandhana serves on the board of Green Infra and was instrumental in setting up the independent clean energy producer in 2008.

With the Sri Lankan economy growing steadilyalong with revived economic activities in post war era, the demand for energy has increased significantly.Presently, Sri Lanka is proud to be the only So

China announced Sunday that it aims at becoming a full member of International Renewable Energy Agency (IRENA) in 2013, a move which was widely welcomed.

The U.S. wind industry is powering up once again after Congress extended a critical tax credit that wind companies say will save tens of thousands of domestic jobs and allow more clean energy projects to ramp up this year.

About half of the sector's 75,000 jobs in the United States had been expected to disappear if the wind production tax credit had been allowed to expire at the end of last year, according to trade group the American Wind Energy Association.

The central government is looking at stepping in to support the wind power producers who has been waiting for long to recover bills from some of the power distribution companies, said Farooq Abdull

In a major leap in the field of power generation, India will soon start a project to generate electricity through geothermal energy.

An analysis from Frost & Sullivan, Annual Global Power Generation Forecasts 2012, finds that during the current decade, gas will see the highest growth rate among the major fuels.

Nuclear power, despite some delays after the Fukushima disaster, will also expand strongly due to the large number of nuclear plants currently under construction, particularly in Asia, the analysis says.

Studies for locating geothermal reserves in India have been on for over 30 years

State-owned NTPC is likely to sign an agreement with the Chhattisgarh government to prepare a study on geothermal reserves available in the mineral rich state and advanced talks are on in this regard. "Chhattisgarh government may sign a pact with NTPC to study geothermal reserves in the state, (it) may form a Joint Venture for the same," a state government official said.