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 $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 ...
Thailand’s B.Grimm Acquires Ray Power Supply to Develop a Solar Farm in Cambodia
B.Grimm Power Public Company Limited has announced that its wholly-owned subsidiary, B.Grimm Solar Power 1 Company Limited, has completed the acquisition of Ray Power Supply Company Limited. In a filing ...
Robotic Module Cleaning Company Skilancer Solar Gets Funding From Venture Catalysts
Venture Catalysts, an integrated incubator, recently invested an undisclosed amount in Noida-based Skilancer Solar, a solar module cleaning solutions provider. Skilancer Solar specializes in providing a robotic cleaning system which ...
SunEdison’s Rooftop Solar Subsidiary Acquires Sherisha Solar
Chennai-based renewable energy company SunEdison Infrastructure Limited (formerly YKM Industries Limited) has informed that its subsidiary SIL Rooftop Solar Power Private Limited (SIL), has acquired 100% fully paid-up equity share ...
IFC to Lend $36 Million to Mahindra Renewables for a 250 MW Solar Project in Rajasthan
The International Finance Corporation (IFC), the financial arm of the World Bank, has announced its plan to lend $36 million (~₹2.57 billion) for a 250 MW solar project by Mahindra ...
AIIB Approves $65 Million Loan for Hero Future Energies’ Solar Project in Jodhpur
The Asian Infrastructure Investment Bank (AIIB), a multilateral development bank, has announced that its board of directors has approved a $65 million (~₹912,896) loan for a 250 MW solar power ...
Solar Cold Storage Company Ecozen Completes $6 Million Series A Funding
Headquartered at Pune in Maharashtra, Ecozen, a provider solar cold storage and solar pumps, has completed $6 million (~₹423 million) in Series A fundraise. Sathguru Catalyser’s Innovation in Food and ...
Vector Green Energy Acquires RattanIndia’s Solar Portfolio
Vector Green Energy Private Limited, an independent power producer (IPP) which operates wind and solar projects, has acquired 225 MW (AC) solar generation capacity from RattanIndia, according to a source ...
Philippines-Based AC Energy Launches $400 Million Green Bonds
AC Energy, the energy platform of Philippines-based Ayala Corporation, has launched its non-deferrable green bonds. The aggregate principal amount is $400 million, with a fixed coupon of 5.6% for life ...
Sembcorp Set to Acquire Remaining 6% Stake in its Indian Subsidiary
Singapore-based renewable company Sembcorp Industries (Sembcorp) has announced that it will acquire the remaining 5.95% stake in its Indian arm, Sembcorp Energy Ltd. (SEIL) for ₹4,060 million ($56.9 million). According ...
With Newly Commissioned Solar Projects, Azure Power Sees a 28% Rise in Revenue in Q2 FY20
Azure Power (NYSE: AZRE) has announced its consolidated financial results for the second quarter of the financial year (FY) ending September 30, 2019. The independent solar power producer reported that ...
Canada’s Institutional Investor CDPQ to Invest $75 Million in Azure Power
Caisse de dépôt et placement du Québec (CDPQ), one of Canada’s leading institutional investors, has announced that it will invest $75 million in Azure Power Global Limited, a solar power ...
U GRO Capital and Sunvest Capital Launch ₹200 Million Solar Financing Program in India
U GRO Capital, a financial technology company, has entered into a partnership with Sunvest Capital, a non-banking financial company (NBFC) focused on providing rooftop solar financing. The two have announced ...
UAE-Based Masdar Backs India’s Hero Future Energies with $150 Million Investment
In a significant development for the domestic renewable industry, the United Arab Emirates-based Masdar has invested around $150 million (~₹10.7 billion) in Hero Future Energies, one of the leading names ...
Japan’s Univergy to Invest $200 Million in Zambian Solar Projects
Univergy Solar, a renewable energy company, based in Japan, is going to invest more than $200 million in two solar projects in the central African nation of Zambia. This is ...
