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 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. She can be reached at:


Solar Power in Q2 2017

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 ...
/ Solar, Utility Scale
Jolywood ACME Solar Module Supply India Market

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 ...
/ Markets & Policy, Solar

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 ...
/ Finance and M&A, Solar
Mitsui OMC Power Investment Mini-grid

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 ...
/ Finance and M&A, Solar
Sembcorp IDFC Renewables 100% Stake

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 ...
/ Finance and M&A, Solar
IFC Loan Rewa Solar Solenergi Actis

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 ...
/ Finance and M&A, Solar
Battery Energy Storage BHEL NTPC Tender

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 ...
/ Solar, Tenders & Auctions
EBRD Proparco Egypt Solar Finance

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 ...
/ Finance and M&A, Solar
TNB Solar Project Financing

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 ...
/ Finance and M&A, Solar
IDFC Solar Project Refinancing

IDFC Alternatives Raises ₹2.5 Billion

IDFC Alternatives through its India Infrastructure Fund II has raised ₹2.5 billion (~$39 million) through the sale of non-convertible debentures. The fund will be utilized to refinance two solar projects ...
/ Finance and M&A, Solar

Tennenbaum Capital Partners and Goldman Sachs Acquire Conergy Asia & ME and its subsidiaries for an Undisclosed Sum

Tennenbaum Capital Partners, a U.S. based private equity firm, and Goldman Sachs BDC, a business development company managed by Goldman Sachs Asset Management, acquired Conergy Asia & ME Pte Ltd ...
/ Finance and M&A, Solar
Fund for Off-grid Solar in Kenya

World Bank Approves $150 Million Fund for Off-grid Solar in Kenya

The World Bank approved an International Development Association (IDA) fund of $150 million for Kenya. The fund will be utilized to help communities in Kenya gain access to modern energy ...
/ Finance and M&A, Solar
First Solar India

First Solar to Divest Most of its Operating Solar Projects in India with Planned Sale of 190 MW

IDFC Alternatives' India Infrastructure Fund II (IIF II), through its wholly-owned subsidiary Vector Green Energy, has entered into definitive agreements with First Solar Power India and its affiliates to acquire ...
/ Finance and M&A, Solar

CleanMax Solar Raises $100 Million in Funding from Warburg Pincus

CleanMax Solar, an Indian rooftop solar developer, has raised $100 million (Rs.6.5 billion) in equity financing from Warburg Pincus, a New York-based private equity firm. CleanMax Solar will utilize the ...
/ Finance and M&A, Solar
renewable energy

Piramal Finance Approves Providing ACME With Additional Rs.700 Crores

Piramal Finance, a subsidiary of Piramal Enterprises, approved additional funding of Rs.7 billion (~$107.8 million) to ACME Solar Holdings. The funds were approved under a new product for the renewable ...
/ Finance and M&A, Solar
Demonitization India Solar

Yes Bank Signs Green Finance Charter with FMO, DEG and Proparco

Yes Bank, FMO (the development bank of the Netherlands), DEG (the development bank of Germany) and Proparco (the development of France) signed a Green Finance Charter for green finance in ...
/ Finance and M&A, Solar
azure rooftop solar

Azure Power Secures $10.5 Million from State Bank of India for Rooftop Solar

The State Bank of India (SBI), has issued a loan Rs.68.3 million (~$10.5 million) to Azure Power, an Indian solar power producer. The loan has been provided under the State ...
/ Finance and M&A, Solar

State Bank of India to Finance 100 MW of Grid-Connected Rooftop Solar Projects

The State Bank of India (SBI) announced it will provide Rs.4 billion (~$62.2 million) to private developers finance 100 MW of grid-connected rooftop solar projects in India. The financing is ...
/ Finance and M&A, Solar
ADB PNB Loan Rooftop Solar

Punjab National Bank Receives $100 Million Loan from ADB to Finance Solar Rooftop Projects in India

The Asian Development Bank (ADB) has approved a $100 million (~₹6.46 billion) loan to the Punjab National Bank (PNB) that will finance large solar rooftop systems on industrial and commercial ...
/ Finance and M&A, Solar
solar electricity

Electricity Generated from Solar Grew by 81% in FY 2016-17 in India

Solar in India accounted for ~13.5 billion units of electricity produced in the country during the financial year (FY) 2016-17, up from ~7.4 billion units in FY2015-16, according to the ...
/ Solar, Utility Scale

India to Raise Rs.23.6 Billion in Bonds for Renewable Energy

The Union Cabinet chaired by Prime Minister Narendra Modi has given its approval to raise Rs.23.6 billion (~$364 million) from bonds for renewable energy development in the country, according to ...
/ Finance and M&A, Solar

Solarpack Raises $104 Million in Funding for Projects in Chile and India

Solar pack raises 100 million in series A funding ...
/ Finance and M&A, Solar
Solar Project

NTPC Tenders 3.2 MW Battery Energy Storage System for 8 MW Solar Project in Andaman & Nicobar

The National Thermal Power Corporation (NTPC) has invited bids to develop 3.2 MWh of battery energy storage system (BESS) at Chidiyatapu in Andaman & Nicobar. The bid submission deadline is July 7, ...
/ Solar, Utility Scale
Solar Project

Solar Power Generation in India Was Up 83% in the 11-Month Period from April 2016 -February 2017

India generated 11.86 billion units (BU) of solar power in the 11-month period from April 2016-February 2017. Solar accounted for 1.04 percent of all power generated in the country during ...
/ Commercial, Solar
Mergers & Acquisitions

Hareon Photovoltaic to Invest $76.6 Million for a 45 Percent Stake in Azure Power Project

Hareon Photovoltaic, a wholly owned subsidiary of Hareon Power Singapore, a vertically integrated solar PV manufacturer, will invest $76.6 million (~Rs.4.91 billion) for a 45 percent stake in Azure Power ...
/ Finance and M&A, Solar