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.
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
Solarpack Raises $104 Million in Funding for Projects in Chile and India
Solar pack raises 100 million in series A funding ...
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 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 ...
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 ...
Fotowatio Renewable Ventures Raises $29 Million from IFC to Fund 100 MW Solar Projects in Andhra Pradesh
Fotowatio Renewable Ventures (FRV), has raised $29 million (~Rs.1.86 billion) in non-convertible debentures (NCDs) from the International Finance Corporation (IFC) to fund 100 MW of solar projects in India. FRV ...
NTPC Upsizes Medium-Term Note Program to $6 Billion
The National Thermal Power Corporation (NTPC) has upsized the medium-term note (MTN) program to $6 billion. The state-run power generator also issued rupee denominated bonds worth Rs.50 billion (~$772.14 million) ...
India Generated 10.6 Billion Units of Solar Power in the 10-Month Period from April to January (FY 2016-17), an 85 Percent Increase Year-over-Year
India had an 85 percent increase in solar power generated year-over-year, with 10.6 billion units in the 10 month period from April to January (FY 2016-17). Solar accounted for 1.02 ...
Oriano Solar Raises Rs.200 Million in Series A Funding
Oriano Solar, a solar focused EPC firm, has raised Series A funding of Rs.200 million ($3 million) from Samridhi Fund, which is managed by SIDBI Venture Capital Ltd. The investment ...
World Bank to Provide $100 Million to Develop Solar Parks in India
The World Bank has approved $100 million (~Rs.6.5 billion) to develop solar parks in India. This includes a $75 million (~Rs.4.8 billion) loan from International Bank for Reconstruction and Development ...
European Investment Bank to Provide EUR 200 Million (~$213 Million) Loan to State Bank of India for Large-Scale Solar
The European Investment Bank (EIB) approved a EUR 200 million (~Rs.13.8 billion), 20-year loan to State Bank of India (SBI) which will be utilized to help develop large scale solar ...
Asian Development Bank Approves $175 Million Loan Package for PGCIL
The Asian Development Bank (ADB) has approved a $175 million (~Rs.11.35 billion) loan to the Power Grid Corporation (PGCIL) to expand its solar power transmission network across the country. The ...
Greenko Raises $155 Million in Equity Funding
Greenko Energy Holdings (Greenko), a renewable energy company, raised $155 million (~Rs.10.14 billion) in equity funding. The company signed definitive agreements with an affiliate of GIC and an entity that ...
NTPC Raises Rs. 20 Billion (~$305 Million) through Green Masala Bonds
The National Thermal Power Corporation (NTPC) has raised Rs. 20 billion (~$305.47 million) through the issuance of Green Masala Bonds in the overseas market. These bonds were issued under NTPC’s ...
