Indian Oil Corporation Plans to Invest ₹250 Billion in Renewable Energy Projects

Indian Oil Corporation Plans to Invest ₹250 Billion in Renewable Energy Projects

The Indian Oil Corporation (IOC) plans to diversify its business verticals and make significant investments to the tune of ₹250 billion (~$3.48 billion) in clean energy projects like solar, wind, ...
/ / Finance and M&A, Other
Suzlon Group’s Net Loss was ₹3.37 Billion in the First Quarter of FY 2020

Suzlon Group’s Net Loss was ₹3.37 Billion in the First Quarter of FY 2020

Suzlon Group, a renewable energy solutions provider, headquartered in Pune, has announced its financial results for the first quarter (Q1) of the fiscal year 2019-20 (FY20). The revenue of the ...
/ / Finance and M&A, Other
Renewable Project Developer Greenko Receives $329 Million in Equity

Renewable Project Developer Greenko Receives $329 Million in Equity

After receiving $495 million (~₹33.92 billion) as primary equity from General Insurance Corporation (GIC) and Abu Dhabi Investment Authority (ADIA), Greenko Energy Holdings (Greenko), has now secured another $329 million ...
/ / Finance and M&A, Other
Sembcorp to Infuse ₹5.169 Billion in its India Arm to Push Renewable Business

Sembcorp to Infuse ₹5.169 Billion in its India Arm to Push Renewable Business

Sembcorp Industries has increased its equity stake in its India arm Sembcorp Energy India (SEIL) from 93.73% to 94.05%. The company has infused ₹5.169 billion (~$75.33 million) into SEIL to ...
/ / Finance and M&A, Other
Silk Road Fund Gets 49% Stake in Saudi Arabia’s ACWA Power

Silk Road Fund Gets 49% Stake in Saudi Arabia’s ACWA Power

Headquartered in Saudi Arabia, ACWA Power, a developer, owner, and operator of power generation and water desalination projects has signed an agreement with Silk Road Fund for a 49% stake ...
Power Finance Corporation Raises $300 Million Through Syndicated Loan

Power Finance Corporation Raises $300 Million Through Syndicated Loan

The Power Finance Corporation (PFC) has announced that it has raised $300 million through a three-year syndicated loan from the State Bank of India, Honk Kong and MUFG Bank, Singapore ...
China’s Keppel Land Secures $125 Million from HSBC for Sino-Singapore Tianjin Eco-City

Keppel Land China Secures $125 Million from HSBC for Sino-Singapore Tianjin Eco-City

Keppel Land China, a Singapore-based company, has secured its first green loan facility to the tune of RMB 850 million (~$125 million) from HSBC Group China for the development of ...
Nigerian Renewable Solutions Provider Arnergy Raises $9 Million in Series A Funding

Nigerian Renewable Solutions Provider Arnergy Raises $9 Million in Series A Funding

Arnergy, a Nigerian distributed utility company, has announced raising $9 million in Series A round of funding led by Breakthrough Energy Ventures with participation from the Norwegian Investment Fund for ...
Multilateral Development Banks Allocated $43 Billion to Climate Finance in 2018

Multilateral Development Banks Allocated $43 Billion to Climate Finance in 2018

The 2018 edition of the joint report on climate finance by the world’s largest multilateral development banks (MDBs) reveals that nearly $43.1 billion was allocated to developing and emerging economies ...
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World Bank to Lend $300 Million to China for Battery Storage and Renewables Promotion

World Bank to Lend $300 Million to China for Battery Storage and Renewables Promotion

The World Bank has approved $300 million in loans for the China Renewable Energy and Battery Storage Promotion Project to increase the integration and utilization of renewable energy. “This project ...
/ / Finance and M&A, Other
African Development Bank to Provide $995,000 to Support Ethiopia’s Renewable Sector

African Development Bank to Provide $995,000 to Support Ethiopia’s Renewable Sector

Ethiopia’s quest to roll out a sustainable procurement framework for independent power producers has received a boost in the form of a grant of $995,000 made by the Sustainable Energy ...
ADB Provides $750 Million Loan to Indian Railways for Transitioning to Electric Power

ADB Provides $750 Million Loan to Indian Railways for Transitioning to Electric Power

The Indian Railway Finance Corporation (IRFC) has signed an agreement with the Asian Development Bank (ADB) for the electrification of railway tracks. This initiative is part of a broad modernization ...
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
World Bank Commits $22.5 Billion to Scale Up Climate Action in Africa

World Bank Commits $22.5 Billion to Scale Up Climate Action in Africa

The World Bank has committed $22.5 billion to Africa for climate adaptation and mitigation in the next five years. The funding is part of the World Bank’s 2025 target to accelerate ...
/ / Finance and M&A, Other
Biomass Company PRESPL to Raise Up to $10 Million in Series B Funding

Biomass Company PRESPL to Raise Up to $10 Million in Series B Funding

Punjab Renewable Energy Systems Pvt. Ltd. (PRESPL), a Mumbai-based biomass supply chain management company, is planning to raise up to $10 million in Series B funding round. Promoted by the ...
/ / Finance and M&A, Other
More Project Commissioning Delay Cases in Telangana Ruled in Favor of Project Developers

Cabinet Gives In-Principle Approval to REC Ltd’s Takeover by Power Finance Corporation

The Indian government’s Cabinet Committee on Economic Affairs (CCEA) has given in-principle approval for the takeover of REC Limited (Formerly, Rural Electrification Corporation of India), a public sector enterprise, by the ...
/ / Finance and M&A, Other
Off-Grid Solar Products Sales in India Totaled $36 Million in the Second Half of 2017

India was Among the Top Recipients of Electricity Financing During 2015-16: Report

India was among the top recipients of electricity financing during the year 2015-16, with two-thirds of total financing concentrated in South Asia, according to a report titled “Energizing Finance: Understanding ...
/ / Finance and M&A, Other
ReNew Power Acquires Ostro Energy

ReNew Buys Ostro in One of the Largest Renewable Acquisition Deals in India

Indian renewable energy project developer ReNew Power has announced the acquisition of Ostro Energy Private Limited. The acquisition is valued close to ₹10,600 crores (~$1.63 billion), according to Mercom’s channel ...
Togo Receives $4 Million in Funding to Boost Energy Access Across the Country

Togo Receives $4 Million in Funding to Boost Energy Access Across the Country

The African country of Togo has received a significant boost in the form of $4 million in funding to further the development an energy access drive dubbed the Cizo initiative ...
PFC Issues $400 Million of Green Bonds on LSE’s International Securities Market

PFC Issues $400 Million of Green Bonds on LSE’s International Securities Market

The Power Finance Corporation (PFC), an undertaking of the government of India, made its first international bond issuance in more than two decades last week when it issued $400 million ...
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ADB to Provide $44.76 Million Grant to Develop 20 MW of Grid-Connected Solar in Afghanistan

ADB to Provide $44.76 Million Grant to Develop 20 MW of Grid-Connected Solar in Afghanistan

The Asian Development Bank (ADB) has agreed to provide a $44.76 million (~₹2.88 billion) grant to help develop 20 MW of grid-connected solar in Afghanistan. The grant was approved by ...
/ / Finance and M&A, Other
SBI World Band Rooftop Solar India

SBI and World Bank Extend $357 Million Credit to 7 Indian Companies for Solar Rooftops

The State Bank of India (SBI) and the World Bank have announced ₹23.2 billion ($357 million) in credit facilities for seven Indian solar companies that will be used to develop ...
/ / Finance and M&A, Rooftop
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
IEX Launched IPO

IEX Launches IPO

The Indian Energy Exchange (IEX) launched its initial public offering (IPO) issuing 60,65,009 equity shares at a face value ₹10 (~$0.15) each. The IEX has priced the shares in the ...
/ / Finance and M&A, Other
Financing Activity in the Indian Solar Sector So Far This Year

Azure Power to Raise $500 Million (~Rs.32 Billion) from Sale of Bonds

Azure Power, an Indian solar power producer, will issue and raise around $500 million (~Rs.32 billion) from the sale of bonds to overseas investors. It bond offering was said to have attracted ...
/ / Finance and M&A, Other