Sprng Energy, AMPIN, Juniper, ReNew, Avaada Win NTPC’s 1 GW Hybrid Auction

Biofuels Firm GPS Renewables Raises $50 Million in Debt Financing

Solar Auctions Surge by 229% in Q1 2024, Tender Activity Up 122%

Global Wind Installations Reached 1 TW Milestone in 2023

Funding and M&A Roundup: Nexamp Secures $520 Million

Project Finance Brief: Arevon Secures $352 Million for Posey Solar Project

Indian Oil Issues Empanelment Tender for Solar Power Projects

Southern Railway Seeks Bids for 1.2 MW Rooftop Solar Projects in Chennai

Husk Secures $4 Million from Electrifi to Scale up Mini Grids in Rural India

Doubling Transmission Capacity of Existing Grid Through Reconductoring: Report


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2022/12/amazon_polly_46706.mp3?version=1672053124">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>International Finance Corporation (<a href="https://www.ifc.org/wps/wcm/connect/corp_ext_content/ifc_external_corporate_site/home" target="_blank" rel="noopener">IFC</a>), a member of the World Bank Group, has announced loans of $400 million and $33.8 million to <a href="https://www.hdfcbank.com/" target="_blank" rel="noopener">HDFC</a> and <a href="https://homefirstindia.com/" target="_blank" rel="noopener">HomeFirst</a> respectively to improve access to climate-smart affordable homes in India.</p>
<p>While HDFC is India&#8217;s largest housing finance company, HomeFirst is a technology-driven affordable housing finance company,</p>
<p>&#8220;It is crucial that new buildings and houses in the country are designed to be green and energy efficient to ensure sustainable development for all,&#8221; Hector Gomez Ang, Regional Director for South Asia, IFC, said.</p>
<p>The funding will help HDFC focus on its green affordable housing portfolio, with 75% ($300 million) of the proceeds earmarked for this sector. The lending framework will set rigorous standards for green buildings, allowing HDFC to boost a quality green housing pipeline while channeling funds to this segment.</p>
<p>Renu Sud Karnad, Managing Director, HDFC Ltd said, &#8220;We are keen to increase our footprint in funding affordable and green housing and are committed to supporting India&#8217;s efforts for a sustainable and green, low-carbon economy.”</p>
<p>IFC will support HomeFirst in developing its green housing framework, including technical support for green housing evaluation parameters, operationalizing the certification process, and capacity building on green housing certification, monitoring, and reporting.</p>
<p>HomeFirst said the proceeds would be utilized to provide financing to retail buyers for affordable housing and green affordable housing units. Under the arrangement, IFC will also provide non-financial support in terms of knowledge, innovation, and capacity building through advisory engagement.</p>
<p>Manoj Viswanathan, MD &amp; CEO of HomeFirst, said, “This is a huge vote of confidence for HomeFirst’s business model and its strong risk-management process. We believe this partnership has a strong potential to enhance financial inclusion and Green Housing in India.”</p>
<p>A green building increases the efficiency with which buildings and their sites use energy, water, and materials and reduce impacts on human health and the environment. In its design, construction, and operation, a green building reduces negative impacts on the climate and natural environment.</p>
<p>IFC estimates a $3.1 trillion climate-related investment opportunity for India between the year 2018 and 2030, with green buildings accounting for a major portion of this opportunity at $1.4 trillion.</p>
<p>Since 2010, IFC has extended financing worth $1.7 billion in India&#8217;s housing finance companies for on-lending to retail buyers of affordable housing and developers of affordable and green housing.</p>
<p>Recently, Rajya Sabha <a href="https://mercomindia.com/energy-conservation-act-paves-way-carbon-credit-market/" target="_blank" rel="noopener">approved</a> the Energy Conservation (Amendment) Bill, 2022, which mandates residential buildings with a connected load of 100 kW and above should meet a portion of their energy requirements from renewable sources.</p>
<p>Under this context, a team of researchers from the National Renewable Energy Laboratory (NREL) and the University of Wisconsin, Stout, have recently <a href="https://mercomindia.com/researchers-claim-photovoltaic-windows-use-in-buildings-by-40/" target="_blank" rel="noopener">found</a> that by combining PV with high thermal performance window tech, new buildings can become crucial in combatting climate change by becoming 40% more energy efficient.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
<br />
<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
</div></div><div class="clearfix"></div></div></div>

IFC Extends Loans to HDFC and HomeFirst to Promote Green Affordable Housing

<p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>Asian Development Bank (ADB) and IIFL Home Finance Limited (IIFL) </strong><a href="https://www.adb.org/news/adb-iifl-home-finance-promote-green-affordable-housing-india" target="_blank" rel="noopener"><strong>inked</strong></a><strong> an agreement for a $1 million technical assistance to encourage green and affordable housing solutions in India. </strong>ADB and IIFL will raise awareness on climate risk mitigation and adaptation and green-certified housing standards among developers and other stakeholders. The technical assistance will be supported by an additional $150,000 from IIFL. The program will promote market research initiatives to enhance understanding of the green housing market and value chain. A system to integrate green lending and climate adaptation strategies in affordable housing will also be established.</p>
<p><strong>Tata Power Renewable Energy Limited (</strong><a href="https://www.tatapowerrenewables.com/" target="_blank" rel="noopener"><strong>TPREL</strong></a><strong>), a 100% subsidiary of Tata Power, has commissioned a 100 MW Solar Power project at Raghanesda Solar Park, Gujarat. </strong>The plant is expected to generate 255 million units in its first year of operation, offsetting 200,000 tons of CO2 every year. Gujarat Urja Vikas Nigam awarded the project. Tata Power’s EPC arm Tata Power Solar Systems Limited completed the project. The total installed capacity of TPREL is now 2,797 MW with 1,865 MW of Solar and 932 MW of wind.</p>
<p><strong>Ireland-based building technology firm Johnson Controls </strong><a href="https://www.johnsoncontrols.com/media-center/news/press-releases/2021/08/12/johnson-controls-and-apollo-infrastructure-join-forces-to-pursue-innovative-sustainability-and-energ" target="_blank" rel="noopener"><strong>announced</strong></a><strong> a joint venture with private equity investor Apollo Global Management to provide energy efficiency services to meet real estate decarbonization goals. </strong>The joint venture will provide energy efficiency and intelligent buildings services tailored to schools, campuses, data centers, healthcare facilities, and commercial and industrial facilities in the U.S. and Canada to meet environmental standards to combat climate change and reach their carbon neutrality goals.</p>
<p><strong>Recurrent Energy, a 100% subsidiary of Canadian Solar, </strong><a href="https://recurrentenergy.com/recurrent-energy-signs-600-mwh-long-term-energy-storage-agreement-with-pge/" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a 15-year Resource Adequacy agreement with Pacific Gas &amp; Electric PG&amp;E to provide 150 MW/600 MWh of energy storage in phase 2 of the Crimson project. </strong>The 350 MW / 1,400 MWh, Crimson project is expected to commence operations in summer 2022. Earlier this year, Southern California Edison awarded Recurrent Energy a long-term energy storage contract for 200 MW / 800 MWh for phase 1 of the Crimson project. The contracts are stand-alone storage projects and are part of reliability procurements directed by the California Public Utilities Commission.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
</div>
<div class="authorboxn">
<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
<p style="height: 17px">
</div>
</div></div><div class="clearfix"></div></div></div>

Daily News Wrap-Up: ADB and IIFL Home Finance to Promote Green Housing in India

green-housing

Get the most relevant India solar and clean energy news.

RECENT POSTS