Anil Ambani led Reliance Capital arm will get a loan assistance of Rs 300 crore from government...
Microsoft has signed a 15-year wind energy agreement with GE in Ireland, becoming one of the first global technology firms to support a new wind project in the country. Microsoft will purchase 100 per cent of the wind energy from its new, 37-megawatt Tullahennel wind farm in County Kerry, Ireland. The agreement will help support the growing demand for Microsoft Cloud services from Ireland, the company said in a statement late on Monday.
As part of the deal, Microsoft also signed an agreement with Dublin-based energy trading company ElectroRoute that will provide energy trading services to Microsoft. “Microsoft is proud to be deepening our long history of investment and partnership in Ireland with this agreement,” said Christian Belady, General Manager, Datacentre Strategy at Microsoft. “Our commitment will help bring new, clean energy to the Irish grid, and contains innovative elements that have the potential to grow the capacity, reliability and capability of the grid,” he added.
The wind farm will integrate GE’s ‘Digital Wind Farm’ technology, which makes renewable energy outputs even more reliable. “This partnership with Microsoft expands GE’s considerable presence and investment in Ireland, where we already employ over 1,500 people and in particular in the renewable energy sector,” said Andres Isaza, Chief Commercial Officer of GE Renewable Energy. Once operational, the new wind project will bring Microsoft’s total global direct procurement in renewable energy projects to almost 600 megawatts.
Reliance Commercial Finance Ltd on Monday said it has signed an agreement with Indian Renewable Energy Development Agency Ltd (IREDA) for Rs 300 crore loan. In a statement, the company said the IREDA loan will be used to lend to renewable energy and energy efficiency projects. The Reliance Commercial Finance is a subsidiary of Reliance Capital while IREDA is a central public sector undertaking under Ministry of New and Renewable Energy. “Reliance Commercial Finance Limited is already a strong known name in the renewable energy funding space, especially related to solar and wind energy. Our partnership with IREDA opens new opportunities for us to create solutions for renewable power sector,” Devang Mody, Executive Director and CEO, Reliance Commercial Finance was quoted as saying in the statement.
According to the company statement, Reliance Commercial Finance has funded wind and solar energy sectors of more than 1,800 MW. The company also provides financial assistance for developing infrastructure and other projects targeted towards the government initiatives on renewable energy.
“With the funding we are confident that RCFL (Reliance Commercial Finance) will provide solutions and help fill any gaps in financing the Renewable Energy sector,” K.S. Popli, Chairman & Managing Director, IREDA, was quoted as saying in the statement.