Month in a Minute: Important News Snippets from India’s Renewable Sector in November 2019
For the domestic renewable industry, November was a busy month on the investment front. There were several important funding announcements in the Indian renewable sector, along with technological developments and ...
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 ...
Adani Green Raises $362.5 Million Through Issuance of Green Bonds
Adani Green Energy Limited (AGEL) has announced that its subsidiaries, Adani Renewable Energy Limited, Wardha Solar (Maharashtra), and Kodangal Solar Parks Private Limited, have approved the issuance of dollar-denominated 20-year ...
Shell Acquires 20% Stake in Solar Solutions Provider Orb Energy
Shell’s New Energies business has acquired nearly a 20% stake in Orb Energy, a solar solutions provider. According to a press statement issued by Orb, the new investment is likely ...
EBRD to Provide $35 Million to Develop 37 MW of Solar Projects in Jordan
The European Bank for Reconstruction and Development (EBRD) has announced that it would be providing a financing package of up to $35 million to Kawar Investments for the development of ...
First Half of 2019 Sees $6 Billion Corporate Funding Raised by the Solar Sector Globally
In the first half of 2019 (1H 2019), funding activity in the solar sector was on an upward trajectory when compared to the same period last year. Total corporate funding ...
IIT Hyderabad-Incubated Electric Vehicle Startup PURE EV Raises Funding
PURE EV, an Indian Institute of Technology (IIT) Hyderabad-incubated startup, has raised an undisclosed amount of funding. The new round of funding is expected to enhance the company’s operations and ...
Power Finance Corporation Raises $300 Million Through Syndicated Loan
The Power Finance Corporation (PFC) has announced that it has raised $300 million through a three-year syndicated loan from the State Bank of India, Honk Kong and MUFG Bank, Singapore ...
India’s Solar Sector Attracts $2.8 Billion in Investments in Q1 2019
In the first quarter (Q1) of the calendar year (CY) 2019, the Indian solar sector received investments totaling $2.8 billion (~₹195.4 billion), according to Mercom’s Q1 2019 India Solar Market ...
Globeleq Announces Financial Closure for its 40 MW Solar Project in Kenya
Globeleq, an energy company focused on Africa has announced the financial closure of a 40 MW Malindi Solar photovoltaic project in Kenya. The company has also announced that it has ...
Nigeria to Raise $41.5 Million Through its Second Green Bond Issue
The debt management office (DMO) of the federal government of Nigeria has announced that it is looking to execute a second green bond issuance - Series II Green Bonds amounting ...
World Bank to Assist in Sustainable Extraction of Minerals for Wind, Solar Projects
To realize a lower-carbon future, there will be a substantial increase in demand for several key strategic minerals and metals to manufacture cleaner energy technologies. Keeping this in perspective, the World ...
Ratan Tata Invests in Ola Electric Mobility’s Series A Funding
Ola Electric Mobility Pvt Ltd (Ola Electric) has announced that Ratan Tata, the chairman of Tata Sons, has invested an undisclosed amount in the company as part of its Series ...
EBRD and GCF Offer $16.7 Million Assistance for a 30 MW Solar Power Project in Kazakhstan
In line with its policy to support renewables in Kazakhstan, the European Bank for Reconstruction and Development (EBRD) has partnered with the United Nations’ Global Climate Fund (GCF) for the ...
Module Supplier Canadian Solar Gets $48 Million Credit Expansion
Canadian Solar Projects K.K, a wholly-owned subsidiary of module supplier Canadian Solar has announced the renewal of a credit facility. The credit facility has been made available through a syndicate ...
ADB Announces $100 Million Assistance to Support Renewable Projects in the Pacific
As a part of its ongoing Pacific Renewable Energy Program, the Asian Development Bank (ADB) has approved an umbrella facility of up to $100 million to provide financing support including ...
Off-Grid Solar Solutions Provider SolarHome Raises $1 Million Equity Funding from Trirec
Singapore-based startup SolarHome, a Pay-As-You-Go (PAYG) solar solutions provider for off-grid households in Myanmar, has secured another $1 million equity from its existing investor Trirec. In 2018, Trirec was joined ...
ISA No Longer a Foreign Source of Funding
The Home Ministry, Government of India, has released a letter stating that investments from the International Solar Association (ISA) will no longer be treated as a foreign source of funding ...
Investment in Indian Solar Sector Dips to $9.8 Billion in 2018
In 2018, investments in the Indian solar sector totaled approximately $9.8 billion compared to 2017, in which almost $11.5 billion flowed into the Indian solar sector. 2018 witnessed a decline ...
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 ...
What Does Supreme Court’s Order Quashing RBI’s NPA Circular Mean for the Solar Sector
Recently, the Supreme Court of India ordered the quashing of a circular issued by the Reserve Bank of India on non-performing assets (NPAs). According to a PTI report, “The Supreme ...
AfDB to Provide $20 Million for Mini-Grid Solar Projects in Congo
The African Development Bank board (AfDB) has announced the approval of a $20 million loan to the Democratic Republic of Congo (DRC). The funding will be used to support the ...
Rooftop Solar Developer CleanMax Secures ₹1.6 Billion Loan from PTC India
Mumbai-based rooftop solar energy company, CleanMax, has announced that its subsidiary CleanMax IPP has received ₹1.58 billion ($22.6 million) in a loan from PTC India Financial Services to refinance loans ...
Sweden’s Trine Helps Finance Greenlight Planet’s Off-Grid Solar Projects in India
Trine, a Swedish investment company that enables individuals to invest sustainably, and Greenlight Planet, a provider of off-grid solar products, have announced the closure of a €1.8 million ($2.36 million) ...
