Author Archives: Wendy Prabhu
About Wendy Prabhu
Wendy is a co-founder of Mercom Capital Group, the parent company of Mercom India. Wendy is a contributing editor at MercomIndia.com and is responsible for content quality across the company and products. She has over 15 years of business and finance experience in the energy and technology markets. In addition to Mercom, Wendy has written for many other clean energy-focused blogs and publications. More articles from Wendy Prabhu.
Scatec Solar Closes $335 Million in Funding for Egyptian Solar Projects
Scatec Solar ASA (SSO) and its partners have closed financial deals for six solar photovoltaic (PV) power plants with an aggregate capacity of 400 MW in Egypt. The projects are ...
EBRD, GCF and FMO to Provide $87 Million Loan to Develop Solar Projects in Egypt
The European Bank for Reconstruction and Development (EBRD), the Green Climate Fund (GCF), and the Netherlands Development Finance Company (FMO) have together agreed to provide an $87 million syndicated loan ...
Lightsource and UK Climate Investments Establish Partnership to Fund Indian Solar Projects
Lightsource Renewable Energy and UK Climate Investments, part of the Green Investment Group within Macquarie Infrastructure and Real Assets (MIRA), have entered an agreement to form a partnership platform to ...
ADB Approves $200 Million Loan for 100 MW Wind Project in Sri Lanka
The Asian Development Bank (ADB) has agreed to provide a $200 million loan with a sovereign guarantee to the Ceylon Electricity Board to develop the first 100 MW wind park ...
Union Bank of India Approves Indosolar’s One Time Debt Settlement Proposal
The Union Bank of India has approved Indosolar’s proposal for one-time settlement (OTS), according to a Bombay Stock Exchange (BSE) filing. The debt of the Union Bank of India has ...
Engie Enters African Off-Grid Solar Market with the Acquisition of Fenix International
French multinational energy conglomerate Engie announced that it has reached an agreement to acquire 100 percent of Fenix International, a next generation energy company that offers solar home systems (SHS) ...
SolarNow Receives $6 Million in Financing
SolarNow, a solar energy, and financial solutions provider, has received $6 million in financing from SunFunder, responsAbility Investments AG, and Oikocredit. According to the company, the $6 million facility will ...
USICEF to Provide $900,000 in Grants for Distributed Solar in India
The US-India Clean Energy Finance (USICEF) initiative is set to provide $900,000 in grants to companies involved in India’s solar sector as part of an effort to catalyze the adoption ...
M-KOPA Solar Secures $80 Million in Commercial Debt Funding
M-KOPA Solar, a pay-as-you-go energy provider to off-grid homes, has secured $80 million of committed financing. The company will utilize the funds over the next three years to provide finance ...
Wartsila Enters Energy Storage Solutions Market in India
Finnish power conglomerate Wartsila, has announced its entry into the Indian energy storage market. The acquisition of Greensmith Energy Management Systems, a developer of grid-scale energy storage software and integrated ...
Reliance Money Secures ₹3 Billion Loan from IREDA for Renewable Energy Projects
The Indian Renewable Energy Development Agency (IREDA) will provide loan to the tune of ₹3 billion (~$45.7 million) to Reliance Money, a brand by Reliance Commercial Finance Limited, a subsidiary ...
EIB to Provide €800 Million in Funding to Indian Renewable Energy Sector
The European Investment Bank (EIB) will be providing €800 million (~₹61.3 billion) in funding for renewable energy investment across India. This includes renewable energy financing in partnership with the Indian ...
How Low Can It Go – Solar Tariff of $0.0178/kWh Quoted in Saudi Arabia’s First Solar Auction
The low bids submitted for a 300 MW solar PV project planned for Saudi Arabia surprised everyone recently when the lowest submitted bid for the levelized cost of energy (LCOE) ...
Oorjan Cleantech Raises $450,000 in Seed Funding for Rooftop Solar in India
Oorjan Cleantech, an India-based rooftop solar solutions provider, raised $450,000 (~₹28.8 million) in online seed funding. US-based VC firm, Globevestor was the primary investor followed by group of senior directors ...
Fortum and NBCC to Develop EV Charging Infrastructure Across India
Fortum, a renewable energy project developer, has signed a memorandum of understanding (MoU) with NBCC, a Government of India Navratna Enterprise, to develop electric vehicle (EV) charging infrastructure across India ...
Tata Motors Wins Bid to Supply 10,000 Electric Vehicles to EESL
Tata Motors has won a bid to supply 10,000 electric vehicles (EVs) to Energy Efficiency Services Limited (EESL). Tata Motors will supply the EVs in two phases – the first ...
India Generated 5.5 Billion Units of Solar Power in Q2 2017, an 87 Percent Increase Over Q2 2016
Solar in India accounted for 5.5 billion units of electricity produced in the country during the second quarter (Apr-Jun) of 2017, an 87 percent increase over the second quarter of ...
Jolywood (Taizhou) Solar Technology Enters India Solar Market
Jolywood (Taizhou) Solar Technology, a Chinese module manufacturer, entered the Indian solar market by signing a supply agreement with ACME Clean-tech Solutions, a renewable energy developer in India. Jolywood will ...
IFC to Provide $50 Million Loan to ACME Jaipur Solar Power Private Limited for 250 MW Solar Project in Rewa
The International Finance Corporation (IFC), a member of the World Bank, will provide a $50 million (~₹3.2 billion) loan to ACME Jaipur Solar Power Private Limited, a wholly-owned subsidiary of ...
Japanese Firm Mitsui to Invest $9 Million in OMC Power
Mitsui & Co., a Japanese trading house, is planning to develop small-scale solar projects in India by investing $9.11 million (~₹582 million) in OMC Power, a rural power company that ...
Sembcorp Acquires Remaining Stake in Sembcorp Green Infra for ₹14.1 Billion from IDFC
Sembcorp Industries, an energy, water and marine group operating worldwide, through its wholly-owned subsidiary Sembcorp Utilities, has entered into an agreement to acquire the remaining 28 percent stake in Sembcorp ...
IFC to Provide $50 Million Loan to Arinsun Clean Energy for 250 MW Solar Project in Rewa
The International Finance Corporation (IFC), a member of World Bank Group, will provide a $50 million (~₹3.2 billion) loan to Arinsun Clean Energy, a subsidiary of Solenergi Power Private Ltd ...
BHEL Looking to Partner With a Battery Energy Storage System Manufacturer
Bharat Heavy Electricals Limited (BHEL), an engineering, procurement and construction firm in India, is on the lookout for a battery energy storage system (BESS) manufacturer to form a partnership or ...
EBRD and Proparco Provide $116 Million to Finance Installation of 100 MW of Solar in Egypt
The European Bank for Reconstruction and Development (EBRD) and Proparco, a French financial institution, are financing the installation of two 50 MW solar projects in to be developed the Benban ...
Tenaga Nasional Berhad Secures $79 Million Financing for 50 MW Solar Project
Tenaga Nasional Berhad (TNB), a Malaysian utility company, secured RM339 million (~$79 million) in financing from Affin Islamic Bank Bhd for a 50 MW large-scale solar project in Selangor, Malaysia ...
