US-Based Fenice Group to Invest $2.5 Million in SunEdison’s Rooftop Solar Subsidiary
The Chennai-based renewable energy company, SunEdison Infrastructure Limited, has announced that it has entered into a share subscription and shareholders’ agreement with U.S.-based Fenice Investment Group LLC. Under this deal, ...
Tata Power Registers 3% Revenue Dip in FY 2020 As Demand Drops Due to COVID-19
Tata Power has announced its annual results for the financial year (FY) 2019-20. The company’s income statement said that in the FY 2020, its revenue declined by 3% and stood ...
US-Based Solar Panel Maker SunPower Raises $1 Billion Financing
A U.S.-based solar panel maker, SunPower Corp., has announced a strategic partnership of $1 billion (~₹74.97 billion) with Technology Credit Union (Tech CU), one of the leading credit unions in ...
Rooftop Solar Solutions Provider MYSUN Raises ₹320 Million in Pre-Series A Funding
MYSUN, a Delhi-based technology platform for rooftop solar energy solutions, has raised ₹320 million (~$4.2 million) from its existing investors in a structured equity deal. This is a part of ...
Taiwan’s Chenya Energy Receives Financing for World’s Largest Floating Solar Project
Taiwanese solar power developer, Chenya Energy Company Limited, announced that it received TWD 7.2 billion (~$239.2 million) financing for a 180 MW floating solar project in the Changhua Coastal Industrial Park ...
Investment Firm KKR to Acquire 317 MW of Solar Assets from Shapoorji Pallonji
Shapoorji Pallonji Infrastructure Capital (SP Infra), a part of the Shapoorji Pallonji Group and KKR, a global investment firm, have signed an agreement under which the SP Infra will sell ...
Singapore Solar Company LYS Energy Raises $10 Million from United Overseas Bank
LYS Energy Group (LYS), a Singapore-based solar independent power producer (IPP), has received S$14 million (~$10 million) green loans from the United Overseas Bank (UOB), Southeast Asia’s third-largest finance group ...
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 ...
