Author Archives: Shaurya Bajaj
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 ...
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
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 ...
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 ...
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
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
950 MW of Solar Projects in Dubai Achieve Financial Closure
The Dubai Electricity and Water Authority (DEWA) and a consortium of Saudi Arabia’s ACWA Power and the Silk Road Fund, which is owned by the Chinese Government, announced the financial closure ...
Suzlon Completes Sale of Two of its Solar Subsidiaries to CLP Wind Farms for ₹990 Million
Renewable project developer Suzlon Energy has announced that it has completed the sale two of its subsidiaries to CLP Wind Farms (India) Ltd (CLP). In a recent filing, Suzlon stated ...
ADB to Provide $12.2 Million Financing for Renewable Projects in Africa’s Tonga
The Asian Development Bank has announced that it will provide a $12.2 million financing for renewable energy projects under the Pacific Renewable Energy Investment Facility. This facility was approved by ...
ADB to Invest $50 Million in Avaada Energy for Expansion of Solar Projects in India
The Asian Development Bank (ADB) has announced that it will invest $50 million in Indian renewable energy independent power producer Avaada Energy Private Limited. Avaada aims to use the capital ...
India Needs to Spend $39 Billion on Transmission Infrastructure Revamp
India is one of the fastest growing economies in the world with increasing power demand in the coming years. Historically, the country has also been a power deficit with millions ...
Uttar Pradesh Approves EV Charging Tariffs for Various Segments of Consumers
After receiving comments and views from stakeholders through a public hearing held on March 7, 2019, the Uttar Pradesh Electricity Regulatory Commission (UPERC) has now approved the tariffs for electric vehicle ...
ReNew Raises $375 Million Through Green Bond Issue
Indian renewable energy independent power producer (IPP) ReNew Power Limited, has announced that it has successfully concluded a green bond issue of $375 million. Barclays (B&D), Goldman Sachs, HSBC, J.P ...
Green Climate Fund Approves $299 Million for Expansion of Renewable Projects in Africa
At its 22nd meeting, the Green Climate Fund (GCF) announced the approval of approximately $299.2 million to finance programs for electrification, combating climate change and economic development through renewable energy ...
MNRE Addresses Land, Power Evacuation Issues in its Modification of Solar Park Program
The Ministry of New and Renewable Energy (MNRE) has issued a memorandum proposing modifications to the guidelines issued for its “Development of Solar Parks and Ultra Mega Solar Park Program, ...
Solar Solutions Provider BBOXX Raises $6.78 Million Through Crowdfunding
BBOXX, an off-grid clean energy technology provider, has announced that its funding initiative has reached the €6 million (~$6.78 million) mark. BBOXX was assisted by Trine, a company that helps ...
Siemens Acquires KACO New Energy’s Solar String Inverter Business
German conglomerate Siemens has announced the acquisition of the string inverter business of the KACO new energy GmbH, a manufacturer of energy-related power electronics, for an undisclosed sum. The project ...
Ola Raises $56 Million for Its Electric Mobility Business in India
Ola Electric Mobility, a company, backed by Ola, an Indian ride-sharing company, announced that it has raised a sum of ₹400 billion ($56.4 million) led by several of Ola’s early investors ...
