Government Mulls Imposing Green Tax on Vehicles Older Than Eight Years
The Minister of Road Transport and Highways (MoRTH), Nitin Gadkari, has approved a proposal to levy 'Green Tax' on old vehicles polluting the environment. MoRTH has forwarded the proposal to ...
Corporate Funding for Battery Energy Storage Companies Was Up 136% at $6.6 Billion in 2020
Total corporate funding (including venture capital funding, public market, and debt financing) for the battery storage, smart grid, and energy efficiency sectors in 2020 was up 112% at $8.1 billion ...
Battery Company Gegadyne Raises $4.5 million from V-Guard
Gegadyne Energy Labs, a provider of quick charging battery technology, has raised ₹334 million (~$4.5 million) from V-Guard Industries in a 'Series A' round of investments. V-Guard is an electrical ...
French Oil and Gas Major Total to Acquire 20% Stake in Adani Green for $2.5 Billion
Total, a French oil and gas major, has acquired a 20% minority interest in Adani Green Energy (AGEL) from Adani Group. The two partners agreed to the acquisition of a ...
Funding and M&A Roundup: Loanpal Securitizes $474 Million Residential Solar Loans
Loanpal, a solar loan origination platform that finances solar systems and batteries, announced that Loanpal Solar Loan 2021-1 and Loanpal Solar Loan 2021-1 (LPSLT 2021-1) had closed a securitization of ...
Project Finance Brief: Goldman Sachs Renewable Power Acquires a 300 MW Solar Project
Pine Gate Renewables, a fully-integrated utility-scale solar project developer, closed financing on a 12-project fund of solar and solar plus storage sites in North Carolina. The projects will sell power under ...
Power Finance Corporation to Raise ₹100 Billion Through Bonds Issue
The country's biggest lender to the power sector, the Power Finance Corporation (PFC), will raise ₹100 billion (~$1.36 billion) through bonds in two tranches. According to the company's prospectus, the ...
Power Transmission Company Sterlite Raises ₹2 Billion from Allianz Global Investors
Sterlite Power, a power transmission infrastructure developer, has announced that it raised ₹2 billion ($27.23 million) in debt financing from leading investment managers Allianz Global Investors (Allianz GI), focusing on ...
Funding M&A Roundup: Gibraltar Acquires Solar Racking Company TerraSmart for $220M
Shoals Technologies Group, a U.S. provider of electrical balance of system products for solar projects, filed with SEC to raise up to $100 million in an initial public offering. Backed ...
Project Finance Brief: Duke Energy Acquires a 144 MW Solar Project From Recurrent Energy
KfW IPEX-Bank has arranged senior debt financing for the construction and operation of a 200 MW Los Escuderos solar project near the municipality of Altarejos in the Spanish province of ...
SK Group, Plug Power to Form Joint Venture to Enhance Footprint in Asian Hydrogen Market
US-based hydrogen fuel cell provider Plug Power has announced that it is forming a strategic partnership with South Korean conglomerate SK Group to enhance its footprints in the Asian hydrogen ...
Tata Power Completes Acquisition of 51% Stake in Odisha DISCOMs
Tata Power has announced its takeover of Western Electricity Supply Company of Odisha (WESCO) and Southern Electricity Supply Company Of Orissa (SOUTHCO). From now on, WESCO and SOUTHCO will operate ...
Battery Technology Company Romeo Power Goes Public in a $900 Million SPAC Deal
The California-based battery technology company, Romeo Power, announced that it has completed its 'business combination' with RMG Acquisition, becoming a public entity in the process. RMG Acquisition is a special ...
Funding and M&A Roundup: Accenture to Invest in a Smart Grid Company
8minute Solar Energy, a privately-held developer of solar PV and storage projects in the U.S., has significantly upsized that facility to a total of $350 million with support from new ...
Project Finance Brief: Abu Dhabi’s 2 GW Solar Project Achieves Financial Closure
ReneSola Power, a solar project developer, entered into an agreement to sell two ground-mounted solar projects in Romania with a combined capacity of 15.4 MW to Alternus Energy Group, an ...
Asian Development Bank Approves $231 Million Loan for a Hydropower Project in Assam
The Asian Development Bank (ADB) has approved a $231 million loan to develop the Lower Kopili Hydroelectric Power (LKHEP) facility in Assam. The Lower Kopili Hydroelectric Power facility will utilize ...
Project Finance Brief: Cubico to Acquire 274 MW of Solar Portfolio in Spain and Italy
Atlantica Sustainable Infrastructure, the sustainable infrastructure company that owns a diversified portfolio of contracted assets in the energy and environment sectors, has reached an agreement with a subsidiary of Algonquin Power & Utilities, a ...
World Bank Approves $107 Million for Renewable Energy Transition in Maldives
The World Bank approved a $107.4 million project to help the Maldives accelerate its transition to renewable energy. The 'Accelerating Renewable Energy Integration and Sustainable Energy' (ARISE) project builds on ...
BayWa to Sell 49% Stake in Renewable Subsidiary to Energy Infrastructure Partners
BayWa AG has concluded its investor search for the planned capital increase at BayWa r.e. renewable energy GmbH (BayWa r.e.), a renewable project developer. BayWa r.e will receive an equity ...
Another Electricity Distribution Company Seeks Bidders to Acquire Majority Stake
The union territory of Dadra and Nagar Haveli and Daman and Diu has invited bids to acquire a 51% stake in its distribution company (DISCOM), responsible for the distribution and ...
ADB Approves ₹13.9 Billion Loan to Upgrade Bengaluru’s Power Distribution System
In a significant development, the Asian Development Bank (ADB) has approved a loan of $190 million (~₹13.9 billion) to upgrade the existing power distribution system in the city of Bengaluru ...
ADB Approves $430 Million to Upgrade Uttar Pradesh’s Power Distribution Network
The Asian Development Bank (ADB) announced that it approved a $430 million multi-tranche financing facility (MFF) to improve the reliability and quality of power supply in Uttar Pradesh. The funding ...
AIIB’s $100 Million Funding to Provide Loans to Small & Medium Renewable Companies
The Asian Infrastructure Investment Bank (AIIB) approved a $100 million funding for the ADM Capital Elkhorn Emerging Asia Renewable Energy Fund. The ADM Capital Elkhorn Emerging Asia Renewable Energy Fund ...
Plug Power Raises $1 Billion to Develop Green Hydrogen Network in the US
Plug Power, a U.S.-based provider of hydrogen engines and fueling solutions enabling e-mobility, announced that it raised around $1 billion in one of the largest bought equity deals in the ...
IL&FS Initiates the Acquisition of its Subsidiary Energy Advisory Business
The Infrastructure Leasing and Financial Services Limited (IL&FS) has invited expressions of interest (EoI) for the acquisition of the energy advisory business of its subsidiary IL&FS Energy Development Company Limited ...
