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. She can be reached at:

wendy@mercomcapital.com

@wendyprabhu

Canadian Solar Sells 80 MW Solar Project in Maharashtra

Breaking: Canadian Solar Sells 80 MW Solar Project in Maharashtra, India

Canadian Solar, a global module supplier and solar project developer, has sold its 80 MW (108 MW DC) grid-connected solar project in Maharashtra. The sale of the project by Canadian ...
/ Finance and M&A, Solar
Financial Innovation Enables Scatec Solar to Launch Projects Worth Nearly $1 Billion

Financial Innovation Enables Scatec Solar to Launch Projects Worth Nearly $1 Billion

Innovative ways to raise capital, ranging from Islamic Green Bond to climate finance, has enabled Scatec Solar to launch 758 MW of clean energy projects on three continents - Asia, ...
/ Finance and M&A, Solar
Financing Activity in the Indian Solar Sector So Far This Year

$4.2 Billion in Financing Activity in the Indian Solar Sector So Far This Year

In the first three quarters of 2017, the Indian solar sector saw almost $4.2 billion (~₹272 billion) in announced corporate, project funding, and M&A deals, according to the recently released ...
/ Finance and M&A, Solar
Cleantech Solar, responsAbility to Provide Loan for Rooftop Solar Projects in Asia

Cleantech Solar, responsAbility to Provide $20 Million Loan for Rooftop Solar Projects in Asia

Cleantech Solar, a Singapore-based solar energy provider, and responsAbility have joined forces to increase the momentum of rooftop solar energy adoption in South-East Asia and India. A responsAbility-managed climate fund ...
/ Finance and M&A, Solar
IFC-Led Consortium Invests

IFC-Led Consortium Invests $653 Million to Develop 13 Solar Projects in Egypt

A consortium of investors led by the International Finance Corporation (IFC), a member of the World Bank Group, has finalized a $653 million debt package to finance the construction of ...
/ Finance and M&A, Solar
Scatec-Solar

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 ...
/ Solar
EBRD, GCF and FMO

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 ...
/ Finance and M&A, Solar
Lightsource Partnership Project Finance

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 ...
/ Finance and M&A, Solar
ADB Approves Loan for Wind Project in Sri Lanka

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 ...
/ Other, Wind
Union Bank of India Approves Indosolar’s One Time Debt Settlement Proposal

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 ...
/ Finance and M&A, Solar
Engie Enters African Off-Grid Solar Market with the Acquisition of Fenix International

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) ...
/ Finance and M&A, Other
SolarNow Receives Financing

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 ...
/ Finance and M&A, Solar
USICEF to Provide Grants for Distributed Solar in India

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 ...
/ Rooftop, Solar
M-KOPA Solar Secures in Commercial Debt Funding

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 ...
/ Finance and M&A, Solar
Wartsila Enters Energy Storage Solutions Market

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 ...
/ Energy Storage, Market & Policy
Reliance Money Secures Loan from IREDA for Renewable Energy Projects

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 ...
/ Finance and M&A, Solar
EIB to Provide Funding to Indian Renewable Energy Sector

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 ...
/ Finance and M&A, Solar
Saudi Arabia’s First Solar Auction

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) ...
/ Solar, Tenders & Auctions
Oorjan Cleantech Raises Seed Funding

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 ...
/ Finance and M&A, Solar
EV Charging Infrastructure Across India

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 ...
/ Electric Vehicles, Grid
Tata Motors Wins Bid to Supply Electric Vehicles to EESL

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 ...
/ Electric Vehicles, Grid
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 REWA ACME Solar Loan

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