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 ...
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 ...
Bank of America Lends ₹3.56 Billion to Distributed Solar Company Fourth Partner Energy
The Bank of America (BofA) has announced its plans to lend ₹3.56 billion (~$50 million) to Fourth Partner Energy, a distributed solar energy management company. The amount is a local currency revolving ...
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 ...
RBI Relaxes External Commercial Borrowing Norms to Benefit Solar & Wind Companies
In January 2019, National Solar Energy Federation of India (NSEFI) wrote to the Reserve Bank of India (RBI) to carve out a special category to allow External Commercial Borrowings (ECB) ...
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 ...
India Added 1.7 GW of Solar PV in Q1 2019, Rooftop Installations Declined
Solar installations in India in Q1 2019 increased slightly at 1,737 MW, 4% growth compared to 1,638 MW installed in Q4 2018. Installations were down by 49% year-over-year (YoY) compared ...
Renewable Development Firm Lightsource BP Raises £150 million to Finance Solar Projects
Lightsource BP, a global renewable energy development firm, has raised £150 million in debt financing from Caisse de dépôt et placement du Québec (CDPQ), a long-term institutional investor. The funds will be utilized ...
Solar Project Financier PFS Announces 12% Increase in Revenues for FY 2019
Power project financier PTC Financial Services (PFS) has announced its FY 2019 results which indicate a good year for the company. The total revenue for PFS for FY 2019 was ...
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 ...
Dubai’s AMEA Power Achieves Financial Closure for a 50 MW Solar Project in Jordan
Renewable energy project developer, AMEA, has announced financial closure for a 50 MW solar project in Jordan. The company has announced that it has secured $74 million for the Al ...
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 ...
ADB and ASEAN Announce $1 Billion Green Finance Facility
The Asian Development Bank (ADB) along with Southeast Asian governments and major development financiers has launched the “ASEAN (Association of Southeast Asian Nations) Catalytic Green Finance Facility,” a new initiative ...
PTC India Financial and USICEF Partner to Finance Distributed Solar Projects in India
Indian infrastructure finance company, PTC India Financial Services (PFS), has partnered with the U.S.-India Clean Energy Finance (USICEF) to mobilize debt financing for distributed solar energy in India. This is ...
Avaada Energy’s Renewables Growth Plan Gets ₹10 billion Boost from ADB, DEG and, FMO
Independent power producer (IPP), Avaada Energy, has announced that it has secured financing of around ₹10 billion ($143.8 million) in the form of equity infusion from the Asian Development Bank ...
ADB to Provide $12.2 Million Financing for Renewable Projects in Africa’s Tonga
The Asian Development Bank has announced that it will provide a $12.2 million financing for renewable energy projects under the Pacific Renewable Energy Investment Facility. This facility was approved by ...
ADB to Invest $50 Million in Avaada Energy for Expansion of Solar Projects in India
The Asian Development Bank (ADB) has announced that it will invest $50 million in Indian renewable energy independent power producer Avaada Energy Private Limited. Avaada aims to use the capital ...
ReNew Raises $375 Million Through Green Bond Issue
Indian renewable energy independent power producer (IPP) ReNew Power Limited, has announced that it has successfully concluded a green bond issue of $375 million. Barclays (B&D), Goldman Sachs, HSBC, J.P ...
Green Climate Fund Approves $299 Million for Expansion of Renewable Projects in Africa
At its 22nd meeting, the Green Climate Fund (GCF) announced the approval of approximately $299.2 million to finance programs for electrification, combating climate change and economic development through renewable energy ...
Solar Solutions Provider BBOXX Raises $6.78 Million Through Crowdfunding
BBOXX, an off-grid clean energy technology provider, has announced that its funding initiative has reached the €6 million (~$6.78 million) mark. BBOXX was assisted by Trine, a company that helps ...
World Bank Approves $185 Million Loan for 310 MW Renewable Energy Projects in Bangladesh
The World Bank has approved $185 million to facilitate 310 MW of renewable energy generation capacity in Bangladesh to meet the growing demand for electricity in the country. The funding ...
India Installs 8.3 GW of Solar in 2018
The Indian solar market installed 8,263 MW in 2018, down 15.5 percent compared to 9,782 MW in 2017 as the safeguard duty, GST issues, and land and transmission issues took ...
KfW and Bank of Baroda to Refinance Solar Projects in India
German development bank, KfW, and Bank of Baroda have announced that they would extend funding of $113 million to refinance solar power projects in India under the Solar Partnership II ...
EBRD to Finance a 50 MW Solar Project in Southern Kazakhstan
The European Bank for Reconstruction and Development (EBRD) has announced the financing of a 50 MW solar power project in southern Kazakhstan. The proposed financing package arranged by the EBRD ...
UAE-Based Developer Yellow Door Raises $65 Million Investment to Scale Solar Energy
Yellow Door Energy (Yellow Door), a UAE-based solar developer, has announced that it has raised $65 million in a Series A financing round to scale its investments in solar energy and energy ...
