EV Component Startup Revoh Raises $150,000 to Build Production Facility in Tamil Nadu
Revoh Innovations, a startup that manufactures sub-components for electric vehicles (EV), has raised $150,000 in a seed round from angel investors Vel Kanniappan and Ravi Renganathan to build a motor ...
Priority Sector Lending Can Help Unlock EV Financing of ₹3.7 Trillion by 2030: NITI Aayog
NITI Aayog, in its recent report, ‘Banking on Electric Vehicles in India,’ proposed the inclusion of electric vehicles (EVs) in Reserve Bank of India’s (RBI) priority-sector lending (PSL) guidelines to ...
REC Limited to Avail a Loan of $169.5 Million from KfW Bank to Finance Solar Projects
REC Limited, a public infrastructure finance company involved in financing power projects, has entered into an agreement with Germany-based KfW Development Bank to avail official development assistance (ODA) loan of $169.5 million ...
Global Energy Alliance to Unlock $100 Billion for Faster Green Energy Transition
The new Global Energy Alliance for People and Planet (GEAPP) was launched at the COP26 Summit to accelerate investment in green energy transitions and renewable power solutions in developing and emerging economies ...
Thermal Energy Storage Systems Company Sunamp Raises $8 Million
From: Mercom Capital Group Sunamp, a provider of thermal energy storage systems, has raised £6 million (~$8.21 million) in Series B funding from the Scottish National Investment Bank. Sunamp plans to ...
Azure Power Secures $163 Million Debt Funding for its Solar Project from MUFG
Mitsubishi UFJ Financial Group (MUFG) has announced the completion of a five-year syndicated financing deal of $163 million for Azure Power's 300 MW solar project. The project is being developed in ...
Investing in Climate Adaptation Would be a Sound Economic Decision: UN Report
The UN Environment Programme (UNEP) has released a report that says nations must boost their efforts to adapt to the changing climate scenario to avoid dire consequences in the future ...
There is a Lot of Pent-Up Demand for Rooftop Solar: Interview
Rooftop solar systems remain one of the cheapest ways to go solar. The global COVID-19 pandemic helped commercial and industrial (C&I) businesses realize that going solar is one of the best ...
Daily News Wrap-Up: Total, 174 Power Global to Develop 1.6 GW of Solar Projects
Here are some noteworthy cleantech announcements of the day from around the world: Total and 174 Power Global have signed an agreement to form a 50-50 joint venture to develop ...
Assam Power Generation Corporation Seeks ₹760 Million Loan for a 25 MW Solar Project
The Assam Power Generation Corporation Limited (APGCL) has invited expressions of interest (EoI) from financial institutions for advancing a term loan to finance a 25 MW solar project in Namrup, ...
IFC to Help Egyptian Farmers Switch to Solar Irrigation Systems
The International Finance Corporation (IFC), a member of the World Bank Group, announced that it has joined hands with the Agriculture Bank of Egpyt (ABE) to help Egyptian farmers access ...
Solar Plus Storage Solutions Provider, Yotta Energy, Raises $5 Million in Seed Funding
Yotta Energy, a U.S.-based solar storage solutions provider, announced that it raised $5 million in a seed funding round. Fiftysix Investments, Skyview Ventures, EDP Ventures, and other undisclosed investors participated ...
Lightsource bp Starts Construction on Pollinator-Friendly Solar Farm in the US
US-based solar developer, Lightsource bp, mobilized construction on its Wildflower Solar project in Sacramento, California, after closing a $20 million financing package. The project at Rio Linda in Sacramento will ...
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 ...
