SECI Payouts to Solar, Wind Developers up Slightly at ₹3.85 Billion in November 2020
The Solar energy Corporation of India (SECI) paid nearly ₹3.85 billion (~$52.6 million) to solar and wind developers in November 2020, which amounted to over 60% of the total amount ...
Smart Solar Module Technology Provider Tigo Energy Secures $20 Million in Funding
Tigo Energy, a U.S.-based smart solar module technology provider, has secured a $20 million investment in the latest funding round led by Energy Growth Momentum, a U.K.-based investment firm. The ...
Naturgy Enters the US Renewable Energy Market with Acquisition of Hamel Renewables
Naturgy, a Spain-based gas and energy utility company, has entered into the U.S. renewable energy market by acquiring a U.S.-based solar and storage development platform Hamel Renewables. The acquisition incorporates ...
Invenergy Closes Financing for First Phase of America’s Largest Solar Project
Privately-held global developer and sustainable energy solutions operator, Invenergy, has announced the completion of construction financing for the first phase of the Samson Solar Energy Center in northeast Texas. Samson ...
Hybrid Solar Solutions Provider Daystar Power Secures $38 Million in Series B Funding
Daystar Power, a Nigeria-based hybrid solar power solutions provider, has secured $38 million in a Series B financing round. Denmark's Investment Fund for Developing Countries (IFU) led the funding round, ...
Belectric’s US Solar Operations and Maintenance Business Acquired by CAMS
US-based Consolidated Asset Management Services (CAMS) has acquired Belectric's US solar operations and maintenance (O&M) business, including its 141 operating sites across 11 states. With this acquisition, the company continues ...
Bharat Forge Invests ₹28.7 Million in Avaada’s Open Access Solar Project in Maharashtra
Bharat Forge, a Pune-based multinational infrastructure company, made an equity investment of ₹28.7 million (~$390,437) in renewable developer Avaada’s special purpose vehicle Avaada SataraMH (ASPL). The company invested the amount ...
IndiGrid to Acquire Two Solar Projects in Andhra Pradesh from Spain’s Fotowatio Renewable
IndiGrid Investment Managers Limited announced that it had signed a securities purchase agreement to acquire two solar projects of capacity 50 MW each from Madrid-based developer Fotowatio Renewable Ventures (FRV), FRV Solar ...
Convergent Finance Invests ₹2 Billion in Solar Glassmaker Borosil Renewables
Convergent Finance LLP, a Maharashtra-based investment firm, announced it has invested ₹2 billion ($27.2 million) in solar glassmaker Borosil Renewables through a qualified institutions placement (QIP) of equity shares. In ...
Ayana Renewable Raises $390 Million in Equity Funding
Bangalore-based renewable energy platform Ayana Renewable Power Private Limited has raised $390 million (~₹28.6 billion) in the latest round of funding. The CDC Group-UK’s development finance institution, National Investment and ...
SunEdison to Acquire 36% Stake in Sherisha Solar with a Capital Infusion of ₹187 Million
The board of directors of the Chennai-based renewable energy company, SunEdison Infrastructure Limited, has approved a capital contribution of ₹187 million (~$2.5 million) in Sherisha Solar Limited Liability Partnership (LLP) ...
SECI’s Disbursement to Solar and Wind Developers Dips Slightly to ₹3.7 Billion in October
The Solar energy Corporation of India (SECI) paid nearly ₹3.7 billion (~$50.2 million) to solar and wind developers in October 2020, which amounted to 48.9% of the total amount disbursed ...
Brookfield Renewable Acquires 360 MW of Distributed Solar Assets for $810 Million
Canada-based renewable energy investor Brookfield Renewable, along with its institutional partners, announced its entry into a definitive agreement with Exelon Generation Company. Brookfield Renewable will acquire a distributed generation development ...
APICORP Extends $50 Million to Yellow Door Energy to Increase its Solar Footprint
The Arab Petroleum Investments Corporation (APICORP), a multilateral development financing institution, announced that it would provide a $50 million (~₹3.6 billion) revolving construction facility to Yellow Door Energy Limited. A ...
Bharat Forge Invests ₹113.75 Million in Avaada’s Group Captive Open Access Solar Project
A Pune-based multinational infrastructure company, Bharat Forge Limited, has invested ₹113.75 million (~$1.51 million) in Avaada SataraMH Private Limited (ASPL). The investment represents 8.98% of ASPL's paid-up equity capital. The ...
Orient Cement to Buy Solar Under Group Captive Model from AMPSolar’s Open Access Project
Orient Cement, a subsidiary of Indian conglomerate CK Birla Group, announced that it would acquire a 26% stake in AMPSolar Systems Private Limited for ₹40.5 million (~$549,244) to set up a ...
IFC to Help Egyptian Farmers Switch to Solar Irrigation Systems
The International Finance Corporation (IFC), a member of the World Bank Group, announced that it has joined hands with the Agriculture Bank of Egpyt (ABE) to help Egyptian farmers access ...
Gujarat-Based Solar Monitoring and Analytics Platform Prescinto Raises Seed Funding
Solar monitoring and analytics platform Prescinto announced that it raised an undisclosed amount in seed funding from Venture Catalysts, an integrated incubator for startups. According to its press statement, angel ...
US-Based Solar Software Developer Aurora Raises $50 Million
Aurora Solar, a U.S.-based solar software company, announced that it raised $50 million in Series B funding led by ICONIQ Capital. With this funding, the company has received over $70 ...
Robotic Solar Solutions Maker Ecoppia Launches IPO on Tel Aviv Stock Exchange
Ecoppia, a robotic cleaning solutions provider for large-scale solar installations, launched an initial public offering (IPO) on the Tel Aviv Stock Exchange (TASE). Ecoppia secured $82.5 million from leading institutional ...
Singapore’s Solar Developer BlueLeaf Enters India with Majority Stake in Vibrant Energy
Blueleaf Energy, a Singapore-based renewable energy company, announced that it acquired a majority stake in an Indian clean energy solutions provider, Vibrate Energy Holdings, from ATN International. Blueleaf Energy specializes ...
China’s Solar Polysilicon Manufacturer Daqo Reports 150% Rise in Gross Profit in Q3 2020
China-based Daqo New Energy Corporation announced that its gross profit stood at $45.3 million in the third quarter or 2020 (Q3 2020), up over 150% from $18.1 million in the same quarter ...
Biocon to Procure Solar Via Open Access Under Group Captive Model From Hinduja Renewables
Bengaluru-based biopharmaceutical company Biocon Limited will acquire a 26% equity stake in Hinduja Renewables Two Private Limited (HRTPL). Biocon would shell out ₹59 million (~$799,085) to purchase the stake, and ...
Airtel Buys 5.2% Stake in Avaada Energy’s Special Purpose Vehicle for Solar Projects
Telecommunications giant Bharti Airtel said it signed an agreement to acquire equity shares in Avaada MHBuldhana Private Limited- a special purpose vehicle (SPV) for solar projects. The SPV was formed ...
Canadian Solar’s Financial Report Acknowledges Raw Material Shortage Affecting Prices
Global solar module supplier and project developer Canadian Solar has reported a strong performance in its financial results for the quarter ended September 30, 2020. The module manufacturer said it ...
