Scatec Posts $42 Million Loss in Q4 as Laos Projects Underperform
Norwegian independent power producer Scatec swung into a net loss of NOK 433 million (~$42 million) in the fourth quarter (Q4) of 2022, compared with a profit of NOK 136 ...
Market Regulator Issues Disclosure Norms for Issuing Green Debt Securities
Corporate entities will have to outline the process followed to determine how projects and assets fit within the eligible green project categories for issuing and listing debt securities. The Securities ...
Adani Enterprises to Return Abu-Dhabi-Based IHC’s $400 Million Investment
(This article updates the previous story from January 31, 2023, to include Adani's announcement of FPO withdrawal) Adani Enterprises will return the recently announced investment of AED 1.4 billion (~$400 ...
TotalEnergies Sells Half of $300 Million Renewables Portfolio
France-based energy conglomerate TotalEnergies said it has sold 50% of a 234 MW portfolio of renewable projects to insurance group Crédit Agricole Assurances. The company said that the transaction implied ...
EU Seeks to Counter US and China with a €250 Billion Green Deal Industrial Plan
The European Commission has published the Green Deal Industrial Plan based on the idea of developing a ‘Single Market,’ which will utilize €250 billion (~$274.96 billion) of existing EU funds ...
Siemens Gamesa’s Q1 Net Loss Widens to €884 Million on Higher Service Costs
Spain-based wind turbine maker Siemens Gamesa’s net loss widened to €884 million (~$971.9 million) for the first quarter (Q1) of the financial year (FY) 2023 compared to €403 million (~$443.2 ...
Wind Developer Orsted Swings to $48.2 Million Loss in Q4 Due to Project Delays
Denmark-based wind developer Orsted swung into a loss of DKK 329 million (~$48.19 million) in the fourth quarter (Q4) of the financial year (FY) 2022, compared with a net profit ...
REC India’s Q3 Net Profit Rises 3.6% YoY to ₹28.7 Billion on Improved Asset Quality
Government-owned power sector lender REC India posted the highest-ever quarterly net profit at ₹28.78 billion (~$351.37 million) in the third quarter (Q3) of the financial year (FY) 2022-2023, up 3.8% ...
Funding and M&A Roundup: Energy Storage Firm Aypa Power Secures $320 Million Debt Funding
From: Mercom Capital Group Aypa Power, a developer, owner, and operator of energy storage and hybrid generation assets has secured a corporate credit facility worth $320 million. The credit facility ...
IndiGrid’s Q3 Profit Rises 27% to ₹1.19 Billion on the Back of Acquisitions
IndiGrid, the Indian power sector’s first infrastructure investment trust (InvIT), said its profit jumped 27% year-over-year (YoY) to ₹1.19 billion (~$14.59 million) in the third quarter (Q3) of the financial ...
OX2 to Develop 1.4 GW Offshore Wind Projects in Finland
OX2, a Swedish renewable energy company, said it would develop offshore wind projects amounting to 1.4 GW in the Gulf of Bothnia in the Finnish economic zone. The wind farm ...
NextEra’s Clean Energy Business’ Net Income Up 17% YoY in Q4 2022
The U.S.-based energy company NextEra Energy reported a net income of $1.52 billion for the fourth quarter (Q4) of 2022, up by 26.41% year-over-year (YoY), driven primarily due to successful ...
Tesla’s Q4 Profit Up 19% YoY, Solar & Storage Revenues Rise to $1.31 Billion
Tesla recorded a revenue of $24.32 billion from all its businesses in the fourth quarter (Q4) of 2022, a year-over-year (YoY) of 37% compared to $17.72 billion in the previous ...
Funding and M&A Roundup: SunRoof Raises $30.8 Million to Fund Expansion Plans
From: Mercom Capital Group SunRoof, a Sweden-based rooftop solar systems provider, announced a €13.5 million (~$14.6 million) extension with a new investment taking its total growth funding round to €28.5 ...
UAE’s Masdar to Develop 5 GW Renewable Energy Projects in Africa
UAE government-owned renewable energy company Masdar has signed agreements with Angola, Uganda, and Zambia to develop renewable energy projects with a combined capacity of up to 5 GW to help ...
Hexicon Inches Closer to Developing 7.1 GW Offshore Wind Projects in Italy
Italy's transmission system operator (TSO) Terna SpA has approved six of Sweden-based Hexicon's seven proposed floating wind power projects for connection to the national grid. Terna's interconnection permit is a ...
JSW Energy’s Q3 Profit Dips 45% YoY to ₹1.8 Billion
JSW Energy, an independent power producer, posted a 45% year-over-year (YoY) drop in its profit at ₹1.8 billion (~$22.2 million) for the third quarter (Q3) of the financial year 2023, ...
Battery and Fuel Cell Firm Log 9 Raises $40 Million in Series B Funding
Bengaluru-headquartered advanced battery and fuel cell technology company Log9 Materials has raised $40 million as part of its Series B funding led by Amara Raja Batteries and Petronas Ventures. The ...
Government Sets IREDA Revenue Target of ₹33.61 Billion for FY23
The Government of India has set a revenue target of ₹33.61 billion (~$414 million) for the financial year (FY) 2022-23 for Indian Renewable Energy Development Agency (IREDA), 18% higher than ...
RBI to Auction First Tranche of Green Bonds Worth ₹80 Billion on January 25
The government has announced the sale of sovereign green bonds (SBG) worth ₹80 billion (~$986 million) through an auction by the Reserve Bank of India, Mumbai, on January 25. The ...
Funding and M&A Roundup: Solar and Battery Leasing Firm Enpal Raises $233 Million
From: Mercom Capital Group Enpal, a German-based solar and battery leasing solutions company, secured €215 million (~$233 million) in series D funding led by TPG Rise Climate to support the ...
India’s Projected Renewable Capacity During 2027-32 to Cost $153 Billion
The estimated funding requirement for renewable capacity addition in line with Draft National Electricity Plan released by Central Electricity Authority (CEA) will be ₹12.5 trillion ($153 billion) during the 2027-32 ...
Hive Energy to Seek $4 Billion Funds for Solar and Battery Projects
The United Kingdom-based renewables company Hive Energy said it will seek direct investment of $4 billion for over 4 GW of proposed co-located solar and battery storage projects across 30 ...
Scheduled Banks’ Loans to Renewable Projects Up 113% in April-Nov Period
The loans to the renewable energy projects disbursed by the scheduled commercial banks stood at ₹41.77 billion (~$507.19 million) as of November 2022. This is a 113% year-over-year jump in ...
Tech Firm Entuple E-Mobility Secures $3 Million in Pre-Series A Funding
Electric powertrains technology company Entuple E-Mobility has raised $3 million in pre-series A funding from Blue Ashva Capital and Capital A, to enhance the company’s research and development (R&D) capabilities ...
