Alternus Secures €500 Million Facility to Expand Clean Energy Business
Ireland-headquartered renewables producer Alternus Energy has signed a deal with Deutsche Bank for a project financing facility of up to €500 million (~$532.3 million). An initial draw of €80 million ...
Power Producer Encavis AG’s Fund Closes Investment Phase with €1.13 Billion
Europe-based independent power producer Encavis AG’s fund Encavis Asset Management completed the investment phase of the Encavis Infrastructure Fund II (EIF II) with a total value of €1.13 billion (~$1.19 ...
Rwanda Issues Consultancy Tender for Financing of Off-Grid Solar Projects
The Development Bank of Rwanda has issued an expression of interest (EoI) for consulting firms to provide technical and engineering services to the bank for appraisal of pre-feasibility and feasibility studies and ...
Adani Raises $700 Million in a Senior Debt Facility for its Power Transmission Projects
Adani Transmission, the electric power transmission business arm of the Adani Group, has raised $700 million in senior debt facility for its under-construction transmission asset portfolio through definitive agreements signed ...
Off-Grid Solar Could Create 570,000 Jobs in Sub-Saharan Africa by 2022: Report
The off-grid solar value chain can create up to 570,000 jobs in Sub-Saharan Africa by 2022, excluding manufacturing, the UCL Engineering for International Development Centre has said in a recent report. Despite ...
Allied Irish Bank Launches Green Bonds Worth €1 Billion
The Allied Irish Bank (AIB) announced that it has issued green bonds worth €1 billion (~$ 1.16 billion) to finance projects with climate change benefits. Green bonds are financial instruments ...
JP Morgan Commits $200 Billion for Sustainability, To Stop Lending to Coal Companies
U.S.-based JP Morgan Chase, one of the world’s largest banking institutions, announced that it has committed $50 billion (~₹3.59 trillion) towards green initiatives as part of a larger $200 billion (~₹14.37 ...
IFC Announces $212.5 Million Loan to Vietnam Bank to Boost Lending for Renewables
The International Finance Corporation (IFC), a member of the World Bank Group, has announced that it would provide a loan to the Vietnam Prosperity Joint Stock Commercial Bank (VP Bank) ...
African Development Bank Approves $21.7 Million for Solar Pumps in Sudan
The African Development Bank (AfDB) has approved a $21.78 million (~₹1.54 billion) grant to the government of Sudan to promote the adoption of solar-powered irrigation pumps in the country. The ...
EIB to Stop Funding Fossil Fuel-Based Projects After 2021
The European Investment Bank (EIB) has announced that it will end financing fossil fuel-based projects by the end of 2021. The global lender now wants to focus its financing for ...
What Does Supreme Court’s Order Quashing RBI’s NPA Circular Mean for the Solar Sector
Recently, the Supreme Court of India ordered the quashing of a circular issued by the Reserve Bank of India on non-performing assets (NPAs). According to a PTI report, “The Supreme ...
India’s Rooftop Solar in Dire Need of Innovative Financing Solutions
Four years ago, under the leadership of Prime Minister Modi, India set a target to install 175 GW of renewable capacity by the year 2022. Of the targeted capacity, 100 ...