Author Archives: Shaurya Bajaj

About Shaurya Bajaj

Shaurya Bajaj is a staff reporter for Mercomindia.com.

shaurya@mercomindia.com

@ShauryaBajaj5

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
India Installs 8.3 GW of Solar in 2018

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 ...
/ / Markets & Policy, Solar
Suzlon Solar

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 ...
/ / Other, Wind
Sweden’s Trine Helps Finance Greenlight Planet’s Off-Grid Solar Projects in India

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 ...
/ / Other, Renewable Energy
IFC To Continue Supporting Private Sector Investments in Europe and Central Asia

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 ...
/ / Finance and M&A, Solar
Need for Green Energy Corridors Grows as Over 64 GW of Renewables are Connected to the Grid

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 ...
/ / Grid, Grid Optimization
EESL Scraps its Tender for 10,000 EVs Due to Non-Availability of Chargers for Luxury Cars

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

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 ...
/ / Finance and M&A, Solar
Green Climate Fund Approves $299 Million for Expansion of Renewable Projects in Africa

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 ...
/ / Other, Renewable Energy
MNRE Extends Implementation Timeline for 40 GW of Solar Parks in India

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, ...
/ / Markets & Policy, Solar
Solar Solutions Provider BBOXX Raises $6.78 Million Through Crowdfunding

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 ...
/ / Finance and M&A, Solar
Siemens Acquires KACO New Energy’s Solar String Inverter Business

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 ...
/ / Finance and M&A, Solar
Ola Raises $56 Million for Its Electric Mobility Business in India

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 ...
/ / Electric Vehicles, Grid