Tata Power Looking for More Wind, Solar Buys; Decline for Chinese Cobalt Cathodes

India’s Tata Power is ready to spend and “is looking for more acquisitions as part of a $260-million-a-year investment push into renewable energy, following last month’s purchase of a wind farm in western Gujarat from AES Corp, a senior official said,” reports Reuters.

“Part of the tea-to-telecoms Tata group, the firm is India’s third-largest listed utility by revenue in the Thomson Reuters India Index.”

“Primarily a thermal power utility, it is targeting rapid expansion in renewables at home and overseas, aiming to add about 150 to 200 megawatts (MW) of wind capacity and 30 to 50 MW of solar power every year.”

“Its newly acquired plant has a capacity of 39.2 MW.”

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The biggest mover this week was Chinese cobalt cathodes with a 1.0 percent fall on the weekly Renewables MMI®. The price of silicon did not change since the previous week. Neodymium traded sideways last week. Chinese steel plate remained essentially flat from the previous week.

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The week finished with no movement for Japanese steel plate. Following a steady week, prices for Korean steel plate closed flat. Prices for Chinese steel plate remained constant. US steel plate prices held steady from the previous week.

US grain-oriented electrical steel (GOES) saw little movement.

The Renewables MMI® collects and weights 8 metal price points used extensively within the renewable energy industry to provide a unique view into renewable energy metal price trends. For more information on the Renewables MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

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