IREDA Has Set Aside ₹100 Billion to Indian Renewable Energy Sector in 2020

IREDA Has Set Aside ₹100 Billion for Renewable Energy Projects in 2020

Mercom India hosted a webinar on key trends shaping the Indian solar market based on its recently released India Solar Market Update report for the first quarter of 2020. The ...
Ola Electric Acquires Amsterdam-Based Electric Two-Wheeler Maker Etergo BV

Ola Electric Acquires Amsterdam-Based Electric Two-Wheeler Maker Etergo BV

Ola Electric Mobility Private Limited, a subsidiary of Indian cab aggregator Ola Cabs, announced that it has acquired Etergo BV, an Amsterdam-based electric scooter maker. The value of the transaction remained ...
Government to Inject ₹900 Billion to Help Ailing Power DISCOMs Amid Coronavirus Crisis

Government to Inject ₹900 Billion to Help Ailing Power DISCOMs Amid Coronavirus Crisis

In a press conference in New Delhi, Finance Minister Nirmala Sitaraman announced that power distribution companies (DISCOMs) would receive ₹900 billion (~$12.03 billion) as part of the Government of India’s ...
Technology and Financing Could Unlock Underserved SMEs in Rooftop Solar_ Interview

Technology and Financing Could Unlock Underserved SMEs in Rooftop Solar: Interview

After five consecutive years of growth, the rooftop solar market in India had a rough year in 2019 with installations totaling 1.1 GW, which was a 33% decline year-over-year. Now ...
Wind Turbine Maker Siemens Gamesa’s Revenue Slips 7.7%

Wind Turbine Maker Siemens Gamesa’s Revenue Slips 7.7%

Siemens Gamesa Renewable Energy (SGRE), a wind turbine maker, has reported a 7.7% fall in revenue in the second quarter of the financial year 2020 (January-March) as a result of ...
/ / Wind
Despite COVID-19 Slowdown, SolarEdge Reports 59% Rise in Revenue YoY in Q1 2020

Despite COVID-19 Slowdown, SolarEdge Reports 59% Rise in Revenue YoY in Q1 2020

SolarEdge Technologies Incorporated (SolarEdge), an Israel-based solar solutions provider, registered a revenue of $431.2 million (~₹32.41 billion) in the quarter ending March 31, 2020, a 59% increase from $271.9 million ...
Newly Operational Projects Take Adani Green’s Revenue Up by 24% in FY 2020

Newly Operational Projects Take Adani Green’s Revenue Up by 24% in FY 2020

Adani Green Energy Limited (AGEL), the green energy wing of the Adani Group, announced that its revenue rose 24% to ₹25.49 billion (~$339.8 million) in the financial year (FY) 2020, ...
Taiwan’s Chenya Energy Receives Financing for World’s Largest Floating Solar Project

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 ...
Another Japanese Bank Says No to Financing New Coal-Powered Projects

Another Japanese Bank Says No to Financing New Coal-Powered Projects

Japan-based Sumitomo Mitsui Financial Group Inc (SMFG) has decided not to provide support to the newly-planned coal-fired power projects. The policy change will come into effect from May 1, 2020 ...
/ / Other, Other Energy
AfDB Extends €12.46 Million for Expansion of Renewables in an African Island

AfDB Extends €12.46 Million for Expansion of Renewables in an African Island

The African Development Bank (AfDB) announced that it would donate €12.46 million (~₹1.05 billion) to finance the Energy Transition and Institutional Support Program (ETISP) in the Democratic Republic of São ...
AfDB and Nigeria Launch National Electrification Project to Boost Energy Access

AfDB and Nigeria Launch National Electrification Project to Boost Energy Access

The African Development Bank (AfDB) and the Government of Nigeria announced the launch of their National Electrification Project (NEP), which aims to help improve access to energy by promoting private ...
/ / Grid, Other
Fourth Partner Receives ₹5 Million Loan to Provide Solar for Non-Profit Entities

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 ...
IFC to Invest Over ₹18 Million in Rooftop Solar Projects in West Bank

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 ...
Cochin Port Tenders a 350 kW Rooftop Solar Project at its Premises

Impact of Basic Customs Duty on Solar Cells and Modules: Winners and Losers

Basic customs duty (BCD) on the import of solar cells and modules was announced at 20% in the Union Budget for 2020-21. While the exemption on this duty remains in ...
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) ...
First Loss Protection Can Open up Third-Party Rooftop Solar Market

First Loss Protection Can Open up Third-Party Rooftop Solar Market

The rooftop solar market slowed down significantly in 2019 along with regulatory hurdles and the overall downturn in the economy – it has yet to recover. Because of the liquidity ...
IFC to Lend $36 Million to Mahindra Renewables for a 250 MW Solar Project in Rajasthan

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 ...
U GRO Capital and Sunvest Capital Launch ₹200 Million Solar Financing Program in India

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 ...
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
ENGIE And STOA Form Joint-Venture to Develop Wind Projects in India

World Bank Pledges $200 Billion to Combat Climate Change

Global financial institution World Bank has pledged a corpus of $200 billion for climate action over a five-year period. The World Bank has set this corpus to meet climate targets set by ...
/ / Other, Renewable Energy
SECI Scraps 300 MW Solar Capacity Awarded to Adani Green

Sri Lanka Secures $50 Million Loan Facility from ADB to Develop Rooftop Solar

The Ministry of Finance and Mass Media in Sri Lanka has announced that it has entered into an agreement with the Asian Development Bank (ADB) wherein the bank will loan ...
/ / Markets & Policy, Solar
Top Solar States

Lightsource BP Completes 60 MW Solar Project in India Financed by Rabobank

Lightsource BP, a global renewable energy development firm, has completed its first utility scale solar project in India. The project has been developed in Wagdari, located in the state of ...
/ / Markets & Policy, Solar
MSEDCL’s 1 GW Solar Tender Oversubscribed by 450 MW

Sunsure Energy Raises $2.2 Million in Working Capital for Solar Projects

Sunsure Energy, a solar turnkey solutions provider, has raised zero-collateral based debt capital worth $2.2 million from TATA Cleantech Capital, L&T Finance, and cKers Finance to be used as working ...
World Bank Approves $180 Million Fund to Support Kenya’s Energy Sector

World Bank Approves $180 Million Fund to Support Kenya’s Energy Sector

The World Bank has approved $180 million in assistance to Kenya to strengthen the financial health of the Kenya Electricity Generation Company Limited (KenGen) and improve private sector financing in ...
/ / Grid, Utilities
Funding into the Global Solar Sector Falls to $2 Billion in Q1 2018

Funding into the Global Solar Sector Falls to $2 Billion in Q1 2018

Regulatory ambiguities and tariff uncertainties were a drag on the global solar sector in the first quarter of 2018, causing the announced corporate funding total to fall by 65 percent ...