Suzlon Energy, the biggest player in the wind turbine business in Asia and the fifth-largest worldwide, has decided to set up Solar Power Plant. 

At the Indian Economic Summit, Tulsi R Tanti, Suzlon Energy chairman and Managing Director stated, "We are exploring the solar energy sector as India has enormous opportunity in solar and wind power." 

Although he did not give any other financial details, he did mention identification of probable sites in Gujarat and Rajasthan, with an area of 10 acres required for one MW of solar power generation.

Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) fell by 1.13 dollars Monday, as the cartel made a further downward revision in its demand outlook for 2009.

One barrel (159 litres) of OPEC crude stood at 47.96 dollars, compared with 49.09 dollars last Friday, the Vienna-based organization said Tuesday.

In its latest monthly market report, OPEC forecast 86.68 million barrels per day of crude-oil demand for next year, 530,000 barrels per day less than predicted in October.

The indefinite strike by thousands of executives of public sector oil companies from Tuesday till December 2, has been deferred by one week.

In a press release, Amit Kumar, President, Oil Sector Officers Association (OSOA), said an understanding had been reached between the association and the Union cabinet. He said that the association has received assurances from the central government that their demand for wage revision will be taken up for consideration by the Union Cabinet in this period.

“The Cabinet will meet on November 20 to take up the proposal for higher wages for PSU staff. In view of this, we have deferred the strike by one week,'' said Kumar.

Maputo - South Africa has partnered up with energy-rich Mozambique to build a new power station aimed at relieving energy shortages in Africa's largest economy before the 2010 football World Cup, Mozambique's Noticias newspaper reported Friday.

Berlin  - Russia's ambassador in Germany, Vladimir Kotenyev, affirmed Friday that the Nord Stream gas pipeline under the Baltic Sea would be built.

Speaking two days after Russian Prime Minister Vladimir Putin said Moscow would be just as ready to export its natural gas by ship, the ambassador said on ARD public television that Russia remained committed to the pipe.

"As far as Russia is concerned, this means a stable supply of gas to Europe," he said.

"Mr Putin was not making any threat," he added.

The controversy blew up as the Russians were about to meet with European Union leaders in Nice, France.

Dusseldorf - One of the main business backers of the Nord Stream gas pipeline to be built under the Baltic Sea, the giant German chemicals company BASF, affirmed the plan Thursday after seeming doubts in Russia.

"My most recent talks with Alexei Miller, the chief of Gazprom, confirmed that all the parties are working with firm resolve ... to create the Nord Stream pipeline in the time frame," BASF chief executive Juergen Hambrecht said.

His response was released by the German business daily Handelsblatt a day in advance of publication.