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 ...
India Added 1.7 GW of Solar PV in Q1 2019, Rooftop Installations Declined

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 ...
IFC to Invest $150 Million in Aditya Birla Finance

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 ...
Azure Power’s Revenue Up 29% to $35.4 Million in Q1 2019

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

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

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 ...
/ / Markets & Policy, Solar
Funding into the Global Solar Sector Falls to $2 Billion in Q1 2018

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 ...
/ / Finance and M&A, Solar
ADB and ASEAN Announce $1 Billion Green Finance Facility

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 ...
/ / Finance and M&A, Other
PTC India FInancial and USICEF Partner to Finance Distributed Solar Projects in India

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 ...
/ / Finance and M&A, Solar
Avaada Energy’s Renewables Growth Plan Gets ₹10 billion Boost from ADB, DEG and, FMO

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 ...
/ / Finance and M&A, Solar
Sweden’s Trine Helps Finance Greenlight Planet’s Off-Grid Solar Projects in India

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 ...
/ / Other, Renewable Energy