Author Archives: Shaurya Bajaj

About Shaurya Bajaj

Shaurya is a staff reporter at MercomIndia.com with experience working in the Indian solar energy industry for the past four years in various roles. Prior to joining Mercom, Shaurya worked with a renewable energy developer and a consulting company. Shaurya holds a Bachelors Degree in Business Management from Lancaster University in the United Kingdom. 

shaurya@mercomindia.com

@ShauryaBajaj5

India’s NBFC Crisis Exacerbating Financing Challenges for Utility-Scale Solar Projects

India’s NBFC Crisis Exacerbating Financing Challenges for Utility-Scale Solar Projects

Since September 2018, India’s Non-Bank Financial Companies (NBFC) have been in a crisis after Infrastructure Leasing, and Financial Services (IL&FS) admitted to defaulting on several payments to its creditors, consequently ...
Siemens Gamesa Wins Turnkey Contract for 176.8 MW Wind from ReNew Power

Siemens Gamesa Announces Order Booking of $12.25 Billion

Renewable energy developer and wind turbine manufacturer, Siemens Gamesa, has announced its financial results for the first half (October-March) and the second quarter (January-March) of fiscal year (FY) 2019. The ...
/ / Other, Wind
Small Hydro Project Developer in Maharashtra Gets Relief from DISCOM's Non-Compliance

HERC Rejects Petition to Retain Exit Clause of a 36 MW Hydro Project

In a review petition, the Haryana Power Purchase Center (HPPC), had asked the Haryana Electricity Regulatory Commission (HERC) to review its order passed on March 8, 2019, in which it ...
/ / Other, Water
Serious Policy Push Needed to Get India's Rooftop Solar Market to the Next Level

Serious Policy Push Needed to Get India’s Rooftop Solar Market to the Next Level

The rooftop solar segment in India has been growing at a brisk pace, with cumulative installed capacity reaching 3,260 MW as of December 2018. Rooftop installations grew 66% (year-over-year) with ...
World Bank to Assist in  Sustainable Extraction of Minerals for Wind, Solar Projects

World Bank to Assist in Sustainable Extraction of Minerals for Wind, Solar Projects

To realize a lower-carbon future, there will be a substantial increase in demand for several key strategic minerals and metals to manufacture cleaner energy technologies.  Keeping this in perspective, the World ...
India Launches National Clean Air Program to Fight Pollution

Global Renewable Energy Capacity Additions Stalled in 2018 While CO2 Emissions Rose

The growth in capacity addition of renewable energy sources has stalled, says a report by the International Energy Agency (IEA). According to the report, the year 2018 was the first ...
Government Announces List of EV Parts to be Indigenized Under FAME II

Government Announces List of EV Parts to be Indigenized Under FAME II

The Ministry of Heavy Industries and Public Enterprises has released a revised list of parts which are to be indigenized under the Phased Manufacturing Program (PMP) which falls under the ...
Azure Power’s Revenue Up 29% to $35.4 Million in Q1 2019

Solar Project Financier PFS Announces 12% Increase in Revenues for FY 2019

Power project financier PTC Financial Services (PFS) has announced its FY 2019 results which indicate a good year for the company. The total revenue for PFS for FY 2019 was ...
Tata Power’s Solar EPC Order Book Reached ₹13.60 Billion in FY 2018-19

Tata Power’s Solar EPC Order Book Reached ₹13.60 Billion in FY 2018-19

Tata Power has announced its annual results for FY 2018-19. The company’s income statement shows that its consolidated FY19 revenue was up 12% at ₹294.93 billion (~$4.25 billion) as compared ...
Jinko Solar Signs 240 MW Solar Module Supply Deal in Vietnam

JinkoSolar Bags 10.7 GW of Orders in 2019, Announces Mono Wafer Capacity Expansion of 5 GW

Chinese solar module, cell, and wafer manufacturer, JinkoSolar, has announced that it has already received orders of 10.7 GW for the current year. The company also announced that it is ...
LONGi Solar Announces 34% Rise in Revenues During 2018

LONGi Solar Announces 34% Rise in Revenues During 2018

Chinese module manufacturer LONGi Solar has announced its annual financial results for 2018. The figures show that the revenue from operations was ¥21.9 billion ($197 million), an increase of approximately ...
wind turbines

DISCOM in Tamil Nadu to Track Wind Projects Using GPS

Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) has started using Global Positioning System (GPS) technology to measure the performance of wind projects installed across the state. The distribution company ...
/ / Other, Wind
Transmission, Wheeling, Cross-Subsidy Charges for Captive and Renewable Projects in UP

Cleantech Solar to Install Captive Solar Projects for Battery Maker Exide Industries

Indian lead-acid battery manufacturer, Exide Industries (Exide), has entered into three share subscription and shareholders agreements with renewable energy developer Cleantech Solar (Cleantech) to install captive solar projects at its ...
/ / Markets & Policy, Solar
Solar EPC Contracts Cannot be Composite as per GST, Rules Maharashtra Authority

SECI Announces 100 MW Solar EPC Tender for Telangana’s Singareni Collieries

The Solar Energy Corporation of India (SECI) has announced a tender for the development of 100 MW of solar power projects in Telangana. The scope of work for the tender ...
Dubai’s AMEA Power Achieves Financial Closure for a 50 MW Solar Project in Jordan

Dubai’s AMEA Power Achieves Financial Closure for a 50 MW Solar Project in Jordan

Renewable energy project developer, AMEA, has announced financial closure for a 50 MW solar project in Jordan. The company has announced that it has secured $74 million for the Al ...
/ / Markets & Policy, Solar
Brookfield Negotiates with ReneSola for its Distributed Solar Assets in China

Malaysia’s PETRONAS Acquires Singapore’s Distributed Solar Company Amplus Energy

Malaysia’s state-owned oil and gas company, PETRONAS, has announced the acquisition of Singapore-based Amplus Energy Solutions Pte Ltd (M+). In a media statement issued by PETRONAS, the company stated that ...
/ / Finance and M&A, Solar
All India Peak Demand Increased 5% Year-over-Year Touching 169 GW in March 2019

One Reason for Lower Power Demand – UJALA Which Has Cut Down Peak Power Demand by 9 GW

Reduced power demand has been an issue for some time in India and it has been blamed largely on financially challenged DISCOMs (utility companies). One of the most overlooked reasons ...
ADB and ASEAN Announce $1 Billion Green Finance Facility

ADB and ASEAN Announce $1 Billion Green Finance Facility

The Asian Development Bank (ADB) along with Southeast Asian governments and major development financiers has launched the “ASEAN (Association of Southeast Asian Nations) Catalytic Green Finance Facility,” a new initiative ...
/ / Finance and M&A, Other
PTC India FInancial and USICEF Partner to Finance Distributed Solar Projects in India

PTC India Financial and USICEF Partner to Finance Distributed Solar Projects in India

Indian infrastructure finance company, PTC India Financial Services (PFS), has partnered with the U.S.-India Clean Energy Finance (USICEF) to mobilize debt financing for distributed solar energy in India. This is ...
/ / Finance and M&A, Solar
Suzlon Sells Two Solar Subsidiaries to ReNew Power for ₹297.3 Million

Suzlon Sells Two Solar Subsidiaries to ReNew Power for ₹297.3 Million

Suzlon Energy Limited (Suzlon) has announced that it will sell two of its solar subsidiaries to Ostro Energy, a wholly owned subsidiary of independent power producer, ReNew Power. The two ...
/ / Finance and M&A, Solar
Avaada Energy’s Renewables Growth Plan Gets ₹10 billion Boost from ADB, DEG and, FMO

Avaada Energy’s Renewables Growth Plan Gets ₹10 billion Boost from ADB, DEG and, FMO

Independent power producer (IPP), Avaada Energy, has announced that it has secured financing of around  ₹10 billion ($143.8 million) in the form of equity infusion from the Asian Development Bank ...
/ / Finance and M&A, Solar
Maharashtra Partners with IFC for Green Buildings in the State

Maharashtra Partners with IFC for Green Buildings in the State

The Maharashtra State housing department has entered into a memorandum of understanding (MoU) with the International Finance Corporation (IFC) to promote green housing. The MoU is partly funded by IFC’s ...
ReNew Power Files for IPO After Raising Over a Billion Dollars in Funding

Solar EPC Company Gensol Plans for IPO

Gensol Engineering Limited (Gensol), a company that provides engineering, procurement, and construction (EPC) and advisory services for solar projects in India, has filed a draft red herring prospectus as part ...
/ / Finance and M&A, Solar
AfDB to Provide $20 Million for Mini-Grid Solar Projects in Congo

AfDB to Provide $20 Million for Mini-Grid Solar Projects in Congo

The African Development Bank board (AfDB) has announced the approval of a $20 million loan to the Democratic Republic of Congo (DRC). The funding will be used to support the ...
/ / Finance and M&A, Solar
KOR Energy Rooftop Projects

Rooftop Solar Developer CleanMax Secures ₹1.6 Billion Loan from PTC India

Mumbai-based rooftop solar energy company, CleanMax, has announced that its subsidiary CleanMax IPP has received ₹1.58 billion ($22.6 million) in a loan from PTC India Financial Services to refinance loans ...
/ / Finance and M&A, Solar