ADB Approves $6 Million Grant to Tuvalu to Increase its Renewable Energy Generation
The Asian Development Bank (ADB) approved a $6 million grant for the Government of Tuvalu (located in the south Pacific) to help it shift away from fossil fuels and to ...
ABB Set to Acquire Majority Stake in Chinese E-Mobility Company
Switzerland-headquartered ABB is set to acquire a 67% share stake in Shanghai Chargedot New Energy Technology Co., Ltd., a leading Chinese e-mobility solution provider. According to the company statement, the ...
Adani Acquires Transmission Project Linked to Renewable Power Generation in Gujarat
Ahmedabad-based Adani Transmission Limited (ATL), has signed a share purchase agreement and completed the acquisition of the WRSS XXI Transco Limited (WRSSTL) from REC Transmission Projects Company. WRSSTL is a ...
Urja Global to Issue Green Bonds of up to $500 Million to Finance Renewable Projects & EVs
Urja Global Limited has announced that it has received the approval to raise green bonds of up to $500 million (₹35.64 billion) to finance renewable projects and electric vehicles (EVs) ...
MNRE Awards Grants to Four Clean Energy Companies Under Second Round of PACEsetter Fund
The Ministry of New and Renewable Energy (MNRE) has announced that it has awarded grants to the awardees of the second round of PACEsetter fund program. The PACEsetter Fund is ...
Adani Acquires Transmission Project in Rajasthan Solar Zone from PFC Consulting
Adani Transmission Limited (ATL) has signed a share purchase agreement and completed the acquisition of the special purpose vehicle of Bikaner-Khetri Transmission Limited (BKTL), incorporated by PFC Consulting Ltd. ATL ...
CERC Proposes New Regulations for Power System Development Fund
The Central Electricity Regulatory Commission (CERC) has issued regulations for Power System Development Fund (PSDF), which will come into effect from the date of their publication in the Official Gazette ...
Payment Dues of State DISCOMs Now Total ₹82 Billion to Solar, Wind, Hydro Power Producers
Distribution companies (DISCOMs) in some of the top renewable energy generating states such as Andhra Pradesh and Tamil Nadu are the biggest defaulters in paying dues for the power procured ...
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, ...
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 ...
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 ...
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 ...
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
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 ...
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
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
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 ...
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 ...
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
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
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 ...
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 ...
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 ...
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 ...
