RBI Cuts Repo Rate to 4.4% to Boost Economic Activity Amid Coronavirus Pandemic
As the country grapples with the Coronavirus (COVID-19) outbreak, the Reserve Bank of India (RBI) today announced that the repo rate has been reduced by 75 basis points (bps) to ...
Finance Ministry Announces Economic Relief Measures Amid Coronavirus Outbreak
In the wake of the deadly Coronavirus (COVID-19) outbreak, which has affected the global economy, India’s Finance Minister Nirmala Sitharaman today announced relief measures for taxpayers and businesses as the ...
IFC Backs Standard Bank of South Africa’s Green Bond Issue with $200 Million Investment
The International Finance Corporation (IFC), the financial arm of the World Bank Group, has announced that it has invested ₹200 million (~₹14.7 billion) in the Standard Bank of South Africa’s ...
JP Morgan Commits $200 Billion for Sustainability, To Stop Lending to Coal Companies
U.S.-based JP Morgan Chase, one of the world’s largest banking institutions, announced that it has committed $50 billion (~₹3.59 trillion) towards green initiatives as part of a larger $200 billion (~₹14.37 ...
Sunseap Raises $80 Million to Support Solar Projects Across Asia
Sunseap Group, a Singapore-based renewable solutions provider, has raised 100 million in Singapore dollars (~$71.79 million) in its fourth round of fund-raising from Banpu, a publicly listed company on the ...
AfDB Sponsored Off-Grid Energy Access Fund Successfully Raises $59 Million
The African Development Bank (AfDB) recently announced that the Facility for Energy Inclusion’s Off-Grid Energy Access Fund (FEI OGEF) reached its final equity close target of $59 million (~₹4.17 billion) ...
IFC Announces $212.5 Million Loan to Vietnam Bank to Boost Lending for Renewables
The International Finance Corporation (IFC), a member of the World Bank Group, has announced that it would provide a loan to the Vietnam Prosperity Joint Stock Commercial Bank (VP Bank) ...
Suzlon’s Outstanding Debt Reaches ₹127.85 Billion
Renewable energy company Suzlon Energy Limited has disclosed an outstanding debt of ₹127.85 billion (~$1.8 billion), according to the company’s Bombay Stock Exchange (BSE) filing. The company has filed the ...
Bank of America Lends ₹3.56 Billion to Distributed Solar Company Fourth Partner Energy
The Bank of America (BofA) has announced its plans to lend ₹3.56 billion (~$50 million) to Fourth Partner Energy, a distributed solar energy management company. The amount is a local currency revolving ...
Qatar Investment Authority to Acquire 25% Stake in Adani Electricity Mumbai
In an important development, the Qatar Investment Authority (QIA) has signed an agreement to invest ₹32 billion (~$450 million) for a 25.1% stake in Adani Electricity Mumbai Limited (AEML). As ...
Green Climate Fund and AfDB to Provide $154 Million for Renewable Financing in Zambia
The Green Climate Fund (GCF) and the African Development Fund (AfDB) have joined hands to support a $154 million renewable financing framework in the southern African nation of Zambia. Historically, ...
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 ...
