TNB Solar Project Financing

Tenaga Nasional Berhad Secures $79 Million Financing for 50 MW Solar Project

Tenaga Nasional Berhad (TNB), a Malaysian utility company, secured RM339 million (~$79 million) in financing from Affin Islamic Bank Bhd for a 50 MW large-scale solar project in Selangor, Malaysia ...
/ Finance and M&A, Solar
IDFC Solar Project Refinancing

IDFC Alternatives Raises ₹2.5 Billion

IDFC Alternatives through its India Infrastructure Fund II has raised ₹2.5 billion (~$39 million) through the sale of non-convertible debentures. The fund will be utilized to refinance two solar projects ...
/ Finance and M&A, Solar
GOLDMAN SACHS ACQUIRED CONERGY ASIA

Tennenbaum Capital Partners and Goldman Sachs Acquire Conergy Asia & ME and its subsidiaries for an Undisclosed Sum

Tennenbaum Capital Partners, a U.S. based private equity firm, and Goldman Sachs BDC, a business development company managed by Goldman Sachs Asset Management, acquired Conergy Asia & ME Pte Ltd ...
/ Finance and M&A, Solar
Fund for Off-grid Solar in Kenya

World Bank Approves $150 Million Fund for Off-grid Solar in Kenya

The World Bank approved an International Development Association (IDA) fund of $150 million for Kenya. The fund will be utilized to help communities in Kenya gain access to modern energy ...
/ Finance and M&A, Solar
First Solar India

First Solar to Divest Most of its Operating Solar Projects in India with Planned Sale of 190 MW

IDFC Alternatives' India Infrastructure Fund II (IIF II), through its wholly-owned subsidiary Vector Green Energy, has entered into definitive agreements with First Solar Power India and its affiliates to acquire ...
/ Finance and M&A, Solar
Funding

CleanMax Solar Raises $100 Million in Funding from Warburg Pincus

CleanMax Solar, an Indian rooftop solar developer, has raised $100 million (Rs.6.5 billion) in equity financing from Warburg Pincus, a New York-based private equity firm. CleanMax Solar will utilize the ...
/ Finance and M&A, Solar
renewable energy

Piramal Finance Approves Providing ACME With Additional Rs.700 Crores

Piramal Finance, a subsidiary of Piramal Enterprises, approved additional funding of Rs.7 billion (~$107.8 million) to ACME Solar Holdings. The funds were approved under a new product for the renewable ...
/ Finance and M&A, Solar
Demonitization India Solar

Yes Bank Signs Green Finance Charter with FMO, DEG and Proparco

Yes Bank, FMO (the development bank of the Netherlands), DEG (the development bank of Germany) and Proparco (the development of France) signed a Green Finance Charter for green finance in ...
/ Finance and M&A, Solar
azure rooftop solar

Azure Power Secures $10.5 Million from State Bank of India for Rooftop Solar

The State Bank of India (SBI), has issued a loan Rs.68.3 million (~$10.5 million) to Azure Power, an Indian solar power producer. The loan has been provided under the State ...
/ Finance and M&A, Solar
Finance

State Bank of India to Finance 100 MW of Grid-Connected Rooftop Solar Projects

The State Bank of India (SBI) announced it will provide Rs.4 billion (~$62.2 million) to private developers finance 100 MW of grid-connected rooftop solar projects in India. The financing is ...
/ Finance and M&A, Solar
ADB PNB Loan Rooftop Solar

Punjab National Bank Receives $100 Million Loan from ADB to Finance Solar Rooftop Projects in India

The Asian Development Bank (ADB) has approved a $100 million (~₹6.46 billion) loan to the Punjab National Bank (PNB) that will finance large solar rooftop systems on industrial and commercial ...
/ Finance and M&A, Solar
rupees

India to Raise Rs.23.6 Billion in Bonds for Renewable Energy

The Union Cabinet chaired by Prime Minister Narendra Modi has given its approval to raise Rs.23.6 billion (~$364 million) from bonds for renewable energy development in the country, according to ...
/ Finance and M&A, Solar
Modi-Piyush

Solarpack Raises $104 Million in Funding for Projects in Chile and India

Solar pack raises 100 million in series A funding ...
/ Finance and M&A, Solar
Mergers & Acquisitions

Hareon Photovoltaic to Invest $76.6 Million for a 45 Percent Stake in Azure Power Project

Hareon Photovoltaic, a wholly owned subsidiary of Hareon Power Singapore, a vertically integrated solar PV manufacturer, will invest $76.6 million (~Rs.4.91 billion) for a 45 percent stake in Azure Power ...
/ Finance and M&A, Solar
FRV 29 Million IFC

Fotowatio Renewable Ventures Raises $29 Million from IFC to Fund 100 MW Solar Projects in Andhra Pradesh

Fotowatio Renewable Ventures (FRV), has raised $29 million (~Rs.1.86 billion) in non-convertible debentures (NCDs) from the International Finance Corporation (IFC) to fund 100 MW of solar projects in India. FRV ...
/ Finance and M&A, Solar
Solar Finance

Indian Solar Sector Sees $1.6 Billion in Funding and M&A Transactions in Q1 2017

With solar installations crossing 12 GW by end of March 2017, financial activity was robust in the first quarter of 2017, with approximately $1.6 billion (~Rs.106 billion) in announced corporate, project funding ...
/ Finance and M&A, Solar
Bonds

Oriano Solar Raises Rs.200 Million in Series A Funding

Oriano Solar, a solar focused EPC firm, has raised Series A funding of Rs.200 million ($3 million) from Samridhi Fund, which is managed by SIDBI Venture Capital Ltd. The investment ...
/ Finance and M&A, Solar
Solar Finance

World Bank to Provide $100 Million to Develop Solar Parks in India

The World Bank has approved $100 million (~Rs.6.5 billion) to develop solar parks in India. This includes a $75 million (~Rs.4.8 billion) loan from International Bank for Reconstruction and Development ...
/ Finance and M&A, Solar
Loan

European Investment Bank to Provide EUR 200 Million (~$213 Million) Loan to State Bank of India for Large-Scale Solar

The European Investment Bank (EIB) approved a EUR 200 million (~Rs.13.8 billion), 20-year loan to State Bank of India (SBI) which will be utilized to help develop large scale solar ...
/ Finance and M&A, Solar
Asian Development Bank Approves $175 Million Loan Package for PGCIL

Asian Development Bank Approves $175 Million Loan Package for PGCIL

The Asian Development Bank (ADB) has approved a $175 million (~Rs.11.35 billion) loan to the Power Grid Corporation (PGCIL) to expand its solar power transmission network across the country. The ...
/ Finance and M&A, Solar
Power Supply

World Bank to Provide $25 Million Loan to Develop Transmission at Rewa Solar Park

The World Bank Group is providing $25 million (~Rs.1.65 billion) to develop transmission infrastructure at the Rewa Solar Park. The loan is being provided at an interest rate of 0.25 ...
/ Finance and M&A, Solar
rupees

$1.1 Billion in Funding and M&A Deals Announced in the Indian Solar Sector in Q4 2016

With solar installations in 2016 totaling 4 GW, financial activity was robust in the fourth quarter of 2016, with approximately $1.1 billion (~Rs.76.6 billion) in announced corporate, project funding and ...
/ Finance and M&A, Solar
IFC invests in Hero Future Energies

IFC to Invest $125 Million in Hero Future Energies

The International Finance Corporation (IFC), a World Bank Group member, will invest $125 million (~₹8.5 billion) in Hero Future Energies, the renewable energy arm of Hero Group. “IFC, together with ...
/ Finance and M&A, Solar
Mergers & Acquisitions

Fonroche Energie SAS Divests its India Solar Assets; Shifts Focus to Latin America

France-based renewable energy developer, Fonroche Energie SAS has divested its India solar assets aggregating 22.3 MW. The assets have been acquired by the Hinduja Group. Fonroche Saaras Energy (FSEPL) and ...
/ Finance and M&A, Solar
Concentrated Solar Thermal Project

IREDA Launches Loan Program for Concentrated Solar Thermal Projects Set Up under the GEF-UNIDO-MNRE Program

The Indian Renewable Energy Development Agency (IREDA) has launched a loan program to provide easy financing to Concentrated Solar Thermal (CST) projects set up under the GEF - United Nations ...
/ Finance and M&A, Solar