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 ...
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 ...
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
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
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 ...
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 ...
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 ...
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) ...
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 ...
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 ...
IFC Invests $103 Million in L&T Infrastructure Finance
The IFC, a member of the World Bank Group, has invested $103 million in L&T Infrastructure Finance Company, a wholly-owned subsidiary of L&T Finance Holdings, by subscribing to the first ...
Rural Electrification Corporation Raises $450 Million Through Green Bonds
The state-owned Rural Electrification Corporation of India has raised $450 million through the sale of green bonds on the London Stock Exchange (LSE). The 10-year dated green bond raised $450 ...
ADB Raises $217 Million Through Sale of Offshore Rupee-Linked Bonds
The Asian Development Bank (ADB) raised $217 million by issuing offshore Indian rupee-linked five-year bonds. This is ADB's largest single offshore Indian rupee-linked bond issue. This is ADB's third bond ...
Indian Energy Exchange (IEX) to Launch IPO
The Indian Energy Exchange (IEX), India’s power trading platform, is expected to launch an initial public offering (IPO) soon. The IEX filed draft papers with the Securities and Exchange Board ...
IREDA to Launch IPO
The Cabinet Committee on Economic Affairs has approved the launch of IREDA’s initial public offering (IPO) today, the 7th of June 2017. Indian Renewable Energy Development Agency (IREDA) will issue 139 million equity ...
ADB Raises $47 Million From Indian Bonds To Fight Climate Change In India
The Asian Development Bank (ADB) announced this week that it has raised Rs.3 billion (~$47 million), from a new issue of offshore Indian Rupee-linked bonds in an effort to finance ...
NTPC Makes Second Bond Offering for $311.5 Million
The National Thermal Power Corporation (NTPC), a government-owned power utility, has priced its second, rupee-denominated five-year masala bond offering for Rs.20 billion (~$311.5 million), in the international markets on April ...
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) ...
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 ...
MNRE to Receive ~Rs.53.41 Billion (~$817 Million) From National Clean Energy Fund for FY2017-2018
The Ministry of New and Renewable Energy (MNRE) will receive ~Rs.53.41 billion (~$817 million) from the National Clean Energy Fund (NCEF) for financial year 2017-2018. The National Clean Energy Fund ...
Japan’s JERA Invests $200 Million in ReNew Power
JERA, a joint venture company of two of Japan’s largest utility companies – Tokyo Electric Power and Chubu Electric Power, invested $200 million for a 10 percent stake in India’s ...
Solar Lending Rates Witness Slight Dip in the last Quarter
The Indian solar sector witnessed a slight dip in lending rates over the last quarter (Oct-Dec 2016). The average interest rates for solar projects came down slightly compared to the ...
ADB Approves $390 Million Financing Package for ReNew Power to Develop 709 MW of Solar and Wind in India
The Asian Development Bank (ADB) has approved a $390 million (~Rs.26.54 billion) financing package for ReNew Power, an Indian renewable energy project developer. The funds will be utilized to develop ...
Welspun Enterprises to Divest Entire 15.49 Percent Stake in Welspun Energy
Welspun Enterprises, an infrastructure company, has announced that it is going to divest its entire 15.49 percent stake in Welspun Energy, an independent power company. The Board of Directors has, ...
