Power Grid to Monetize Transmission Assets of ₹70 Billion via InvIT
Earlier this week, state-owned Power Grid Corporation of India (PGCIL) received the Cabinet Committee of Economic Affairs’ approval to monetize its transmission projects through the Infrastructure Investment Trust (InvIT) model ...
Investment of Over $710 Million Planned to Enhance IKEA’s Sustainability Commitment
Netherlands-based Ingka Group announced its plans to invest €600 million (~$710 million) over the coming year to help IKEA, its subsidiary, keep its commitment to become climate positive by 2030 ...
France to Invest Over $35 Billion to Boost the Economy Through Renewables
France has announced its plans to invest €100 billion (~$118.4 billion) to retrieve the economy from the damage caused by the COVID-19 pandemic. As part of its 'France Relance' (France ...
EV Startup Ultraviolette Automotive Secures ₹300 Million from TVS Motors
Ultraviolette Automotive Private Limited, a Bangalore-based electric vehicle (EVs) startup, announced that it had secured ₹300 million (~$4.08 million) from TVS Motor Company in a Series B funding round. TVS ...
Solar Inverter Supplier GoodWe Launches IPO, Lists on Shanghai Stock Exchange
Solar inverter manufacturer GoodWe announced the initial public offering (IPO) of its common stock on the Shanghai Stock Market, making it a listed public company. According to the press release, ...
Funding and M&A Roundup: Indian Lithium-ion battery Maker Grinntech Raised $2 Million
Here is a roundup of corporate funding and M&A deals from last week covering the global renewable energy industry: SenseHawk, a SaaS platform that helps customers develop, build, and operate ...
Global Investment in Renewable Energy Could Reach $3.40 Trillion by 2030: Report
Global investments in the renewable energy sector are expected to rise to $3.4 trillion by 2030, including an estimated investment of $2.72 trillion in solar and wind energy sectors, according ...
Daily News Wrap-Up: Hitachi ABB to Provide its New Technology for Substations in the Gulf
Here are some noteworthy cleantech announcements of the day from around the world: SP Group, Singapore-based electricity and gas distribution company, signed an agreement with the Sino-Singapore Guangzhou Knowledge City ...
Investments in India’s Solar Sector Declined Significantly in Q2
Investments in the Indian solar sector stood at approximately $100 million (~₹7.46 billion) in the second quarter of 2020 (Q2 2020), down 90% from the previous quarter, according to Mercom's ...
EIB to Provide $12.5 Million to ENGIE to Set Up Off-Grid Solar Systems in Uganda
The European Investment Bank (EIB) announced that it would provide $12.5 million to solar system installer Fenix International, a subsidiary of ENGIE, to accelerate installations of off-grid solar systems in ...
World Bank Grants $300 Million to Promote Electricity Trade in West Africa
The World Bank announced that it would provide $300 million (~₹22.50 billion) to the International Development Associations (IDA) to accelerate reforms to promote electricity trade in West Africa. The grant ...
ABB to Build a Manufacturing Facility in Italy to Meet Global Demand for EV Chargers
Switzerland-based ABB announced that it had invested $30 million (~₹2.25 billion) to construct its new manufacturing facility in San Giovanni Valdarno, Italy. In its press statement, ABB said that the ...
CIM Group Invests $40 Million in Solar Panel Cleaning Robotics Company Ecoppia
Robotic solar cleaning solutions provider Ecoppia announced that it secured a $40 million credit facility from a U.S.-based CIM Group. CIM is a community-focused real estate and infrastructure owner, operator, ...
UK’s Oil Giant BP to Invest $70 Million in India’s Green Growth Equity Fund
United Kingdom-based oil giant BP announced its plans to invest $70 million (~$5.22 billion) in India’s Green Growth Equity Fund (GGEF), which aims at promoting zero carbon and low carbon energy ...
IFC to Provide $25 Million Loan to Facilitate Green Financing in Nepal
The International Finance Corporation (IFC), the financial arm of the World Bank Group, has announced that it will provide a loan of $25 million to NMB Bank, one of Nepal's ...
Tata Power to Set Up Infrastructure Investment Fund to Bolster Its Renewable Business
Tata Power announced that its board of directors had given its in-principle approval for setting up an infrastructure investment fund (InvIT) for the company’s renewable business. The Mumbai-based power electric ...
Bengaluru’s Mobility Firm Yulu Raises ₹300 Million from US-Based Rocketship.VC
Yulu, a Bangalore-based micro-mobility service provider, has announced that Rocketship.VC has invested ₹300 million (~$3.95 million) in the company. The company provides a smart rental platform for bicycles and electric ...
MNRE to Set Up a Project Development Cell to Attract Investment in Renewables
The Ministry of New and Renewable Energy (MNRE) has issued an order for setting up a Project Development Cell (PDC) within the Ministry as per the central government’s specifications. The ...
UK’s Asset Management Fund to Foray into India’s Energy Efficiency Market
EnergyPro Asset Management Limited (EPAM), a U.K.-based company, is set to raise £2 million (~$2.5 million) in equity funding to bridge energy transitions in the U.K. and India through technology ...
Investments in Indian Solar Sector Declined 66% YoY to $970 Million in Q1 Amid COVID-19
Investments in the Indian solar industry totaled $970 million (~₹72.9 billion) in the first quarter (Q1) of 2020, according to Mercom’s Q1 2020 India Solar Market Update. Investments were 66% ...
IRENA Invites Developers to Register Projects on its Climate Investment Platform
The International Renewable Energy Agency (IRENA) has invited renewable energy project developers to register suitable projects through a purpose-built portal organized around 14 regional clusters to contribute to its Climate ...
Sunseap Raises Over $71 Million to Support Solar Projects Across Asia
Sunseap Group, a Singapore-based renewable solutions provider, has raised 100 million in Singapore dollars (~$71.79 million) in its fourth round of fund-raising from Banpu, a publicly listed company on the ...
CDC Group has Allocated $10 Million to Boost Solar Power in South Africa and Namibia
CDC Group, a U.K. government-owned financial development institution, has announced that it plans to invest £2 billion (~₹184.41 billion) in African businesses over the next two years to double the ...
AfDB Sponsored Off-Grid Energy Access Fund Successfully Raises $59 Million
The African Development Bank (AfDB) recently announced that the Facility for Energy Inclusion’s Off-Grid Energy Access Fund (FEI OGEF) reached its final equity close target of $59 million (~₹4.17 billion) ...
AIIB Approves $65 Million Loan for Hero Future Energies’ Solar Project in Jodhpur
The Asian Infrastructure Investment Bank (AIIB), a multilateral development bank, has announced that its board of directors has approved a $65 million (~₹912,896) loan for a 250 MW solar power ...
