US Announces a $13 Billion Fund to Expand and Modernize Electric Grid

US Announces a $13 Billion Fund to Expand and Modernize Electric Grid

The Biden administration, through the U.S. Department of Energy (DOE), has announced $13 billion to expand and upgrade the national electric grid. Funded by the President’s Bipartisan Infrastructure Law, the ...
/ / Other, Renewable Energy
SBI Inks €150 Million Loan Agreement with KfW to Finance Solar Projects in India

SBI Inks €150 Million Loan Agreement with KfW to Finance Solar Projects in India

State Bank of India (SBI) has signed an agreement with Kreditanstalt für Wiederaufbau (KfW) to receive a low-interest loan of €150 million (~$150.66 million) to finance solar projects in India ...
/ / Finance and M&A, Solar
GreenCell Raises $40 Million Funding from ADB to Develop Electric Buses

GreenCell Raises $40 Million Funding from ADB to Develop Electric Buses

The Asian Development Bank (ADB) has inked a $40 million financing package with India-based shared electric mobility company GreenCell Express (GEPL) to develop 255 battery-powered electric buses (e-buses). The e-buses ...
/ / Electric Vehicles, Grid
Baseload Capital Raises $24 Million to Bolster Geothermal Energy

Baseload Capital Raises $24 Million to Bolster Geothermal Energy

Baseload Capital, a Swedish climate investment fund, has raised $24 million to invest in geothermal energy. With a credit facility of $25 million secured from London-based Sustainable Development Capital in ...
/ / Other, Other Energy
ReNew Power Ties Up $1.1 Billion Loan for 1.3 GW Round-the-Clock Renewable Power Project

ReNew Power Ties Up $1.1 Billion Loan for 1.3 GW Round-the-Clock Renewable Power Project

India-based independent power producer ReNew Power announced a partnership with twelve international lenders for what is deemed to be the largest External Commercial Borrowings (ECB) project finance loan totaling $1.1 ...
World Bank Approves $165 Million Funding for Residential Rooftop Solar Projects in India

World Bank Approves $165 Million Funding for Residential Rooftop Solar Projects in India

The World Bank has approved $165 million in additional financing to accelerate the adoption of rooftop solar by residential consumers by making it more affordable. The financing, which includes a ...
/ / Rooftop, Solar
EV Component Startup Revoh Raises $150,000 to Build Production Facility in Tamil Nadu

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

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 ...
/ / Electric Vehicles, Grid
REC Limited to Avail a Loan of $169.5 Million from KfW Bank to Finance Solar Projects

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 ...
/ / Finance and M&A, Solar
Global Energy Alliance to Unlock $100 Billion for Faster Green Energy Transition

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 ...
/ / Finance and M&A, Other
Thermal Energy Storage Systems Company Sunamp Raises $8 Million

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 ...
/ / Finance and M&A, Other
Azure Power Secures $163 Million Debt Funding for its Solar Project from MUFG

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

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 ...
/ / Other, Other Energy
There is a Lot of Pent-Up Demand for Rooftop Solar: Interview

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 ...
/ / Rooftop, Solar
Daily News Wrap-Up_ Total, 174 Power Global to Develop 1.6 GW of Solar Projects

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 ...
/ / Other, Renewable Energy
Assam Power Generation Corporation Seeks ₹760 Million Loan for a 25 MW Solar Project

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

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 ...
/ / Finance and M&A, Solar
Solar Plus Storage Solutions Provider, Yotta Energy, Raises $5 Million in Seed Funding

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 ...
/ / Finance and M&A, Solar
Lightsource bp Starts Construction on Pollinator-Friendly Solar Farm in the US

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 ...
/ / Solar, Utility Scale
JP Morgan Commits $200 Billion for Sustainability, To Stop Lending to Coal Companies

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

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

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

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 ...
/ / Other Energy
RBI Relaxes External Commercial Borrowing Norms to Benefit Solar & Wind Companies

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) ...
/ / Markets & Policy, Other
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 ...
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