Daily News Wrap-Up_ Candi Receives $3.16 Million to Scale its Solar Solutions in India

Daily News Wrap-Up: Candi Receives $3.16 Million to Scale its Solar Solutions in India

Here are some noteworthy cleantech announcements of the day from around the world: EDFI ElectriFi has invested €2.68 million (~$ 3.16 million) junior debt in Candi, a platform that builds, ...
/ / Other, Renewable Energy
ReNew Power Raises $325 Million through Overseas Green Bonds

ReNew Power Raises $325 Million through Overseas Green Bonds

ReNew Power, an Indian independent power producer, has raised around $325 million through overseas green bonds. Green bonds are financial instruments designed to raise money for climate and sustainability-related projects ...
/ / Finance and M&A, Solar
VC funding for Battery Energy Storage Companies Was up 78% With $661 Million in Q3

VC funding for Battery Energy Storage Companies Was up 78% With $661 Million in Q3

Global corporate funding (including venture capital funding, public market, and debt financing) for the battery storage, smart grid, and energy efficiency sectors was up 165% in the third quarter of ...
DISCOM Dues Pile Up Despite Government’s Efforts to Ease Their Financial Burden

DISCOM Dues Pile Up Despite Government’s Efforts to Ease Their Financial Burden

Distribution Companies (DISCOMs) owed renewable generators ₹97.25 billion (~$1.31 billion) in overdue payments (excluding dues under dispute) spread across 538 invoices at the end of May 2020, according to data ...
Investments in Indian Solar Sector Declined 66% YoY to $970 Million in Q1 Amid COVID-19

Investments in Indian Solar Sector Declined 66% YoY to $970 Million in Q1 Amid COVID-19

Investments in the Indian solar industry totaled $970 million (~₹72.9 billion) in the first quarter (Q1) of 2020, according to Mercom’s Q1 2020 India Solar Market Update. Investments were 66% ...
AfDB Sponsored Off-Grid Energy Access Fund Successfully Raises $59 Million

AfDB Sponsored Off-Grid Energy Access Fund Successfully Raises $59 Million

The African Development Bank (AfDB) recently announced that the Facility for Energy Inclusion’s Off-Grid Energy Access Fund (FEI OGEF) reached its final equity close target of $59 million (~₹4.17 billion) ...
Solar Developer ReNew Power Raises $450 Million Through Dollar Bond Issue

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 ...
Corporate Funding for Solar Sector Globally Rises by 34% With $9 Billion in 9M 2019

Corporate Funding for Solar Sector Globally Rises by 34% With $9 Billion in 9M 2019

Total corporate funding (including venture capital/private equity, public market, and debt financing) in the first nine months (9M) of 2019 was up with $9 billion raised, compared to $6.7 billion ...
/ / Finance and M&A, Solar
Power Finance Corporation Raises $300 Million Through Syndicated Loan

Power Finance Corporation Raises $300 Million Through Syndicated Loan

The Power Finance Corporation (PFC) has announced that it has raised $300 million through a three-year syndicated loan from the State Bank of India, Honk Kong and MUFG Bank, Singapore ...
India’s Solar Sector Attracts $2.8 Billion in Investments in Q1 2019

India’s Solar Sector Attracts $2.8 Billion in Investments in Q1 2019

In the first quarter (Q1) of the calendar year (CY) 2019, the Indian solar sector received investments totaling $2.8 billion (~₹195.4 billion), according to Mercom’s Q1 2019 India Solar Market ...
Important Headlines from the Indian Solar Market in April 2019

Important Headlines from the Indian Solar Market in April 2019

April 2019 was a busy month for the domestic solar industry with state electricity regulatory commissions issuing orders aimed at providing relief to solar project developers. During the month, a ...
Azure’s Petition before MERC Seeking Declaration of GST as Change in Law Dismissed

Investment in Indian Solar Sector Dips to $9.8 Billion in 2018

In 2018, investments in the Indian solar sector totaled approximately $9.8 billion compared to 2017, in which almost $11.5 billion flowed into the Indian solar sector.  2018 witnessed a decline ...
Funding into the Global Solar Sector Falls to $2 Billion in Q1 2018

Global Solar Market Receives $2.8 Billion in Corporate Funding in Q1 2019

The solar sector received $2.8 billion in corporate funding globally, including venture capital funding, public market, and debt financing. Activity across venture capital funding, public market, and debt financing were ...
/ / Finance and M&A, Solar
CEA Asks States to Use 5-10% Biomass Pellets for Power Generation in Thermal Plants

CERC Sets Generic Tariff for Renewable Energy Sources for FY 2019-20

The Central Electricity Regulatory Commission (CERC) has set generic tariffs for the purchase of electricity from a host of renewable energy generation sources during the financial year (FY) 2019-20. The ...
/ / Other, Renewable Energy
ReNew Power Gets $350 Million in Debt Financing from OPIC to Scale Solar and Wind Projects

ReNew Power Gets $350 Million in Debt Financing from OPIC to Scale Solar and Wind Projects

ReNew Power has secured fresh debt financing of up to $350 million (~₹24.91 billion) from the Overseas Private Investment Corporation (OPIC). The funds will be utilized by ReNew Power to support ...
/ / Markets & Policy, Solar
Solar Start-Up Cygni Energy Raises $6.4 Million in Debt and Equity Funding

Solar Start-Up Cygni Energy Raises $6.4 Million in Debt and Equity Funding

Cygni Energy Private Limited, a solar DC and microgrid solutions provider, has raised $6.4 million in funding through a combination of equity and debt funds. The funds will be utilised in ...
/ / Finance and M&A, Solar
SECI’s 1,200 MW Wind Tender Receives Bids Totaling 2,190 MW

Favorable Wind Markets Entice Suzlon to Re-Enter the Global Sector

Suzlon,  a wind turbine manufacturer and renewable energy project developer, intends to re-enter the international market, a senior company official told PTI. In the past, the company had expanded its ...
/ / Other, Wind
Rajasthan to Get $250 Million from World Bank to Reform Electricity Distribution

Rajasthan to Get $250 Million from World Bank to Reform Electricity Distribution

The World Bank has approved a $250 million development policy loan (DPL) to Rajasthan for the improvement of the state’s electricity distribution sector under the ‘24x7 Power for All’ program ...
/ / Grid, Market & Policy
Vivint Solar Closes $811 Million Debt Financing Deal

Vivint Solar Closes $811 Million Debt Financing Deal

Vivint Solar, a residential solar solutions provider in the United States, has announced the closing of $811 million of debt financing. The amount was raised in two separate transactions. The first transaction of ...
/ / Finance and M&A, Solar
RBI’s Amended FPI Guidelines Could Restrict Investments into India’s Renewable Sector

RBI’s Amended FPI Guidelines Could Restrict Investments into India’s Renewable Sector

The Reserve Bank of India (RBI) has amended the guidelines with regards to investments made in the country by foreign portfolio investors (FPI). The amended guidelines have been issued with ...
Indian Solar Sector Received Over $10 Billion in Financing During 2017

Indian Solar Sector Received Over $10 Billion in Financing During 2017

In 2017, the Indian solar sector logged over $10 billion (~₹650 billion) in financing activity, according to Mercom Capital Group’s recently released 2017 Q4 and Annual India Solar Market Update ...
/ / Finance and M&A, Solar
IREDA Gets a Nod from SEBI to Launch IPO

IREDA Gets a Nod from SEBI to Launch IPO

The Indian Renewable Energy Development Agency (IREDA) has received a green signal from the Securities and Exchange Board of India (SEBI) for the launch of its Initial Public Offering (IPO). Now, ...
/ / Markets & Policy, Solar
IFC to Invest $150 Million in Aditya Birla Finance

Orb Energy Raises $15 Million from FMO and OPIC

The solar firm Orb Energy has raised over $15 million (~₹954 million) in equity and debt to expand its in-house finance facility of rooftop solar projects for Small- and Medium-sized ...
/ / Finance and M&A, Solar
Financing Activity in the Indian Solar Sector So Far This Year

$4.2 Billion in Financing Activity in the Indian Solar Sector So Far This Year

In the first three quarters of 2017, the Indian solar sector saw almost $4.2 billion (~₹272 billion) in announced corporate, project funding, and M&A deals, according to the recently released ...
/ / Finance and M&A, Solar
IFC-Led Consortium Invests

IFC-Led Consortium Invests $653 Million to Develop 13 Solar Projects in Egypt

A consortium of investors led by the International Finance Corporation (IFC), a member of the World Bank Group, has finalized a $653 million debt package to finance the construction of ...
/ / Finance and M&A, Solar