France’s PROPARCO Makes $15 Million Equity Investment in Solar Developer Avaada Energy

France’s PROPARCO Makes $15 Million Equity Investment in Solar Developer Avaada Energy

PROPARCO, a French development financial institution, has announced that it has made a $15 million (~₹1.07 billion) equity investment in independent power producer Avaada Energy Private Limited. According to Mercom’s ...
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
Renewable Project Developer Greenko Receives $329 Million in Equity

Renewable Project Developer Greenko Receives $329 Million in Equity

After receiving $495 million (~₹33.92 billion) as primary equity from General Insurance Corporation (GIC) and Abu Dhabi Investment Authority (ADIA), Greenko Energy Holdings (Greenko), has now secured another $329 million ...
/ / Finance and M&A, Other
Sembcorp to Infuse ₹5.169 Billion in its India Arm to Push Renewable Business

Sembcorp to Infuse ₹5.169 Billion in its India Arm to Push Renewable Business

Sembcorp Industries has increased its equity stake in its India arm Sembcorp Energy India (SEIL) from 93.73% to 94.05%. The company has infused ₹5.169 billion (~$75.33 million) into SEIL to ...
/ / Finance and M&A, Other
SunEdison to Acquire Two Renewable Companies for $21.2 Million

SunEdison to Acquire Two Renewable Companies for $21.2 Million

Chennai-based renewable energy company SunEdison Infrastructure Limited (formerly YKM Industries Limited) has informed of the acquisition of Megamic Electronics Private Limited and Enrecover Energy Solutions Private Limited, according to a ...
/ / Finance and M&A, Solar
Pharmaceutical Major Cipla Set to Acquire 26% Stake in AMP Solar's SPV at ₹129 Million

Pharmaceutical Major Cipla Set to Acquire 26% Stake in AMP Solar’s SPV at ₹129 Million

A filing made at the Bombay Stock Exchange (BSE) states that Mumbai-based global pharmaceutical major Cipla Limited has signed an agreement to acquire 26% stake on a fully diluted basis ...
Off-Grid Solar Solutions Provider SolarHome raises $1 Million in Convertible Note Offering

Off-Grid Solar Solutions Provider SolarHome Raises $1 Million Equity Funding from Trirec

Singapore-based startup SolarHome, a Pay-As-You-Go (PAYG) solar solutions provider for off-grid households in Myanmar, has secured another $1 million equity from its existing investor Trirec. In 2018, Trirec was joined ...
/ / Finance and M&A, Solar
MNRE Asks Implementing Agencies to Adhere to Grid-Connected Rooftop Solar Guidelines

Cleanmax Solar Raises ₹2.75 Billion in Funding to Scale Projects for Corporates

CleanMax Solar, a leading rooftop solar developer, has raised ₹2.75 billion (~ $39 million) in investment from the United Kingdom (UK) Climate Investments LLP (UKCI), which is a joint venture ...
/ / Finance and M&A, Solar
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 ...
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
Ceiling Tariff of ₹3.10kWh Set for Maharashtra’s Solar Agricultural Feeder Program

Exide Industries to Invest 30% of Equity Shares in Three SPVs for Captive Solar Projects

Exide Industries, an Indian lead-acid storage battery manufacturer, will invest up to 30 percent of its total equity share capital in three special purpose vehicles (SPVs) to set up captive ...
/ / Finance and M&A, Solar
Prism Johnson Acquires 30% Stake in Cleantech SPV to Build 22 MW of Captive Solar Projects

Prism Johnson Acquires 30% Stake in Cleantech SPV to Build 22 MW of Captive Solar Projects

Prism Johnson Limited (formerly Prism Cement) has agreed to acquire up to 30 percent equity stake in a special purpose vehicle (SPV) which will be incorporated with CSE Development (India) ...
/ / Finance and M&A, Solar
Coal India Partners with Neyveli Lignite Corporation to Develop 3,000 MW of Solar Projects

Coal India Partners with Neyveli Lignite Corporation to Develop 3,000 MW of Solar Projects

Coal India Limited (CIL) and  Neyveli Lignite Corporation India Limited (NLCIL) have signed a Memorandum of Understanding (MoU) to form a joint venture (JV) company for solar power generation of ...
/ / Markets & Policy, Solar
Zambia Plans to Develop 100 MW of Solar Projects

Cleantech Solar Raises $50 Million From Climate Fund Managers

Cleantech Solar, a Singapore-based renewable energy project developer, has received a $50 million equity investment from Climate Fund Managers (CFM), a climate-dedicated investment manager, to support its growth in Asia ...
/ / Finance and M&A, 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
Cypress Creek Renewables Secures $200 Million Equity Investment

Cypress Creek Renewables Secures $200 Million Equity Investment

Cypress Creek Renewables, a developer and owner of solar generating assets has secured $200 million in equity investment. A group led by Temasek, a global investment company headquartered in Singapore, ...
/ / Finance and M&A, Solar
Greenko to Raise $447 Million in Equity Funding

Greenko to Raise $447 Million in Equity Funding

Greenko Energy Holdings, a renewable energy project developer, has signed a definitive agreement for raising primary equity of $447 million from an affiliate of GIC and a wholly owned entity ...
ReNew Power Likely to Acquire 700 MW of Renewable Assets Across Four States

ReNew Power Likely to Acquire 700 MW of Renewable Assets Across Four States

In a bid to expand its foothold in the industry, India’s leading renewable energy project developer ReNew Power, is looking at new acquisition opportunities. According to its Draft Red Herring ...
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 ...
Report Finds Municipalities Could Boost Rooftop Solar Adoption Using Bonds

Report Finds Municipalities Could Boost Rooftop Solar Adoption Using Bonds

Although India has so far installed nearly 1.6 GW of rooftop solar capacity, it needs to add another 38.4 GW more if it is going to achieve its targeted goal of ...
/ / Rooftop, 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
CPPIB Invests $144 Million Acquires 6.3 Percent% Stake in ReNew Power for a 6.3 Percent Stake $144 Million

CPPIB Invests $144 Million in ReNew Power for a 6.3 Percent Stake

The Canada Pension Plan Investment Board (CPPIB) has acquired a 6.3 percent stake in Indian renewable energy project developer ReNew Power from the Asian Development Bank (ADB) for $144 million ...
/ / Finance and M&A, 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