Indian waste management company, Ramky Enviro Engineers, plans to raise $200 million in the nation’s first initial share sale to finance a power plant fueled by urban refuse.
India requires power distributors, steelmakers and miners to either produce or buy as much as 10 percent of their annual electricity from clean sources. Companies aren’t taking the regulation seriously, which is undermining the one-year-old market for trading renewable-energy credits, Tarun Kapoor, joint secretary in the Ministry of New and Renewable Energy, said in November.
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