Malaysia’s Yinson Renewables Acquires 37.5% Equity Interest in Rising Sun Energy
Malaysia-based Yinson Renewables (S) Pte Ltd, a wholly-owned subsidiary of Yinson Holdings Berhad, has entered into multiple agreements to acquire a 37.5% equity interest in Rising Sun Energy Private Limited ...
500 MW Solar Project in Oman’s Ibri Achieves Financial Closure
Saudi Arabia’s energy giant ACWA Power, along with the Gulf Investment Corporation (GIC) and Asia-Pacific Economic Cooperation (APEC), has achieved the financial closure for a 500 MW solar independent power ...
Sterling and Wilson Solar Receives ₹5 Billion Against Outstanding Loans
Sterling and Wilson Solar Limited (SWSL), a solar engineering, procurement and construction (EPC) company, has announced that it has received ₹5 billion (~$66.8 million) towards the outstanding loans from its ...
Modhera Sun Temple Gets ₹650 Million Grant for 6 MW Solar, 15 MWh Battery Energy Storage System
The Ministry of New and Renewable Energy (MNRE) has announced a grant of ₹650 million (~$8.63 million) towards a program for the solarization of the Sun Temple in Modhera, Gujarat, ...
Adani Green Enters into Joint Venture Agreement with Total Solar Singapore
Adani Green Energy Limited (AGEL), a Gujarat-based solar power developer, announced that it has entered into a joint venture with TOTAL Solar Singapore PTE Limited for about 2.1 GW of ...
Rooftop Solar Startup ZunRoof Receives $3 Million in Series A
ZunRoof, an Indian startup in the rooftop solar segment, has received Series A funding of $3 million (~₹222.7 million) from Godrej Investment Office. According to the company statement, “This is ...
Sterling & Wilson Set to Merge its Waaree SPV with its Solar Arm
In a significant development, Sterling and Wilson Solar has approved the merger of Sterling & Wilson Waaree, with Sterling & Wilson Solar. Sterling and Wilson Solar Limited is the solar ...
Fourth Partner Receives ₹5 Million Loan to Provide Solar for Non-Profit Entities
Fourth Partner Energy, an Indian distributed solar energy firm, has received a loan of ₹5 million (~$67,167), from Grameen Impact India (GIII), a non-banking finance corporation (NBFC) registered under the ...
Japan’s Marubeni Acquires Taiwan’s Chenya Energy to Leverage Floating Solar Business
In an important development, Japan’s Marubeni Corporation has executed a share purchase agreement with I Squared Capital to acquire Chenya Energy Company Limited, which is one of the leading solar ...
CDPQ’s Share in Azure Power Rises to 50.9%
Caisse de dépôt et placement du Québec (CDPQ), one of Canada’s leading institutional investors, has acquired an additional 717,701 shares from a shareholder of Indian independent power producer Azure Power ...
LONGi Solar to Acquire a Chinese Solar Cell & Module Manufacturer for $253 Million
LONGi Solar, a Chinese manufacturer of high-efficiency mono-crystalline solar cells and modules, has announced a framework agreement to acquire solar cell and module manufacturer Ningbo Jiangbei Yize New Technology for ...
Mahindra Renewables to Sell Three Subsidiaries to CLP India for ₹3.4 Billion
Mahindra & Mahindra Limited announced that its subsidiary, Mahindra Renewables Private Limited (MRPL), has agreed to sell its entire stake in three subsidiaries to CLP India Private Limited (CLP) for ...
IFC to Invest Over ₹18 Million in Rooftop Solar Projects in West Bank
The International Finance Corporation (IFC), the financial wing of the World Bank Group, and Massader, a subsidiary of the Palestine Investment Fund (PIF), announced that they signed a loan agreement ...
AIIB Offers $60 Million for Oman’s 500 MW Solar Project
The Asian Infrastructure Investment Bank (AIIB), a multilateral development bank, has offered a loan of $60 million (~₹4.3 billion) for a 500 MW solar project in Oman. The independent power ...
Sterling & Wilson Reports Lower Revenues and Profits in Nine Months of FY20
Sterling and Wilson, a Shapoorji Pallonji Group company, has released its consolidated and standalone financial results for the third quarter (Q3) and nine months ended on December 31, 2019. The ...
African Development Fund Offers Over $35 Million for Liberia’s Renewable Expansion
The African Development Fund has approved a $34.74 million grant to boost renewable energy access and promote investment climate in Liberia. Under the first project called Renewable Energy for Electrification ...
Azure Power’s Revenue up 25%, Net Loss Rises Amid Higher Expenses and Curtailment in AP
Azure Global Power Limited reported revenue of ₹3.05 billion (~$42.6 million) for Q3 FY20, an increase of 25% year-over-year but the company still registered a net loss of ₹1.36 billion ...
Government-Owned Solar Cell and Module Manufacturer CEL Up for Sale
The government of India has invited an expression of interest (EoI) for the proposed disinvestment of 100% shareholding in Central Electronics Limited (CEL). The last date for the submission of ...
Sunseap Group Secures $50 Million for Solar Projects in Singapore
Sunseap Group, a Singapore-based renewable energy solutions provider, has received a total sum of S$50 million (~$36.7 million) from ABC World Asia and Temasek. The investment will be used for ...
Total to Acquire 50% Stake in Adani Green’s Solar Portfolio for $510 Million
Total, a French oil and gas major, has entered into an agreement with Adani Green Energy Limited (AGEL) to acquire a 50% stake in a joint venture company for $510 ...
Tata Power Reports 12% Rise in Q3 FY20 Net Profit with Renewable Additions
Tata Power has announced its earnings for the third quarter of the financial year 2020 (Q3 FY20), posting a net profit of ₹2.46 billion (~$34.5 million) during the quarter, up ...
EXIM Bank Lends $35.8 Million for Solar DG Hybrid PV Systems in the Republic of Suriname
The Export-Import Bank of India (EXIM Bank) has extended a line of credit (LC) of $35.80 million (~₹2.54 billion) to the Republic of Suriname. This line of credit comes as ...
CDC Group has Allocated $10 Million to Boost Solar Power in South Africa and Namibia
CDC Group, a U.K. government-owned financial development institution, has announced that it plans to invest £2 billion (~₹184.41 billion) in African businesses over the next two years to double the ...
ENGIE to Sell 74% Stake in its Indian Solar Assets to Edelweiss Infrastructure Yield Plus
ENGIE, a French multinational electric utility company, has announced that it is selling a 74% stake in its solar assets in India to Edelweiss Infrastructure Yield Plus (EIYP). This transaction ...
Solar Developer ReNew Power Raises $450 Million Through Dollar Bond Issue
ReNew Power Private Limited, a domestic renewable project developer, has raised $450 million (~₹31.96 billion) through a dollar bond issuance. Mercom confirmed the deal with the parties involved. The bonds ...
