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New Solar Norms To Prevent Discoms Terminating PPAs Unilaterally

New Delhi: India has put new norms in place to improve bankability of solar power projects and boost investments without raising tariff.
The solar guidelines, laid down by the renewable energy ministry, prevent discoms from unilaterally amending or terminating PPAs (power purchase agreements), a recent trend among states which threatened the bankability of projects.

The norms prescribe tariff-based bidding method for purchasing solar power by discoms, with at least a 25-year PPA tenure to keep tariffs low. Simultaneously, provisions for compensating generators in case of arbitrary termination of PPAs as well as in cases where power cannot be sold due to technical constrains have also been provided to improve bankability and reduce risks for generators.

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PM To Meet Young CEOs Today

New Delhi: Prime Minister Narendra Modi will meet about 200 young CEOs today to seek their inputs for expediting growth and promoting job creation. The prime minister had held similar meeting with 212 young entrepreneurs last week as part of the 'Champions Of Change' programme organised by Niti Aayog.

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Infosys Struggles To Regain Investor Confidence After Sikka Exit

New Delhi:On Aug 18, Infosys shares closed at Rs 923.10 on BSE after the shock resignation of CEO Sikka, down 9.6%, its steepest fall since 12 April 2013, from its previous close. In intraday, the stock fell as much as 13.4% and touched near three year low of Rs 884.40 a level last seen on 21 August 2014. Investors lost Rs 22,519.50 crore in market capitalisation.

Infosys Ltd founder N.R. Narayana Murthy has publicly lambasted Infosys over the course of the past six-seven months for lapses in corporate governance (allegations the company has denied repeatedly). In a recent email that was leaked by some of his advisers, he went on to criticize the board for failing to uphold the company’s famed governance standards and not creating “checks and balances required in any well-run company”.
Murthy further claimed that he had been told by at least three independent directors of the company that Vishal Sikka was more chief technology officer (CTO) material than chief executive officer (CEO) material.