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 ...
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 ...
