Grasim to Procure Additional Power from ReNew’s Captive Wind-Solar Hybrid Project

Grasim to Procure Additional Power from ReNew’s Captive Wind-Solar Hybrid Project

Grasim Industries Limited, the textile arm of the Aditya Birla Group, has signed a supplemental share subscription agreement with ReNew Green Energy Solutions and ReNew Surya Uday. The company plans ...
/ / Commercial, Solar
Reliance’s Green Energy Arm to Invest $39 Million in Solar Wafer Manufacturer NexWafe

Reliance’s Green Energy Arm to Invest $39 Million in Solar Wafer Manufacturer NexWafe

Reliance New Energy Solar, the green energy arm of Reliance Industries, will invest €25 million (~$29 million) in a Germany-based solar wafer manufacturer, NexWafe GmbH. Reliance New Energy Solar will be the ...
/ / Finance and M&A, Solar
Air Liquide, Total to Launch World’s Largest Fund for Clean Hydrogen Solutions

Air Liquide, Total to Launch World’s Largest Fund for Clean Hydrogen Solutions

Air Liquide, TotalEnergies, VINCI, and other international companies have come together to sponsor the creation of the world’s largest fund exclusively dedicated to clean hydrogen infrastructure solutions. The fund aims to raise ...
/ / Finance and M&A, Other
Energize Ventures Raises $330 Million to Enhance Energy Transition Technologies

Energize Ventures Raises $330 Million to Enhance Energy Transition Technologies

Energize Ventures, a global investment manager that funds digital-first solutions for sustainable energy transition, announced that it had raised $330 million while closing its second flagship fund. The company said ...
/ / Finance and M&A, Other
KKR-Sponsored Virescent Raises ₹4.6 Billion for its Renewable Energy InvIT

KKR-Sponsored Virescent Raises ₹4.6 Billion for its Renewable Energy InvIT

Virescent Renewable Energy Trust (VRET), a renewable energy infrastructure investment trust (InvIt) from KKR's Virescent Infrastructure, has raised ₹4.6 billion (~$62 million) from foreign and domestic investors. Alberta Investment Management Corporation ...
/ / Finance and M&A, Solar
Ford, SK Innovation to Invest $11 Billion to Build Mega EV and Battery Facilities

Ford, SK Innovation to Invest $11 Billion to Build Mega EV and Battery Facilities

Ford Motor Company and SK Innovation plan to invest $11.4 billion to develop electric vehicle and battery manufacturing facilities in the United States. The companies will form a new joint venture called BlueOvalSK ...
/ / Energy Storage, Technology
Shree Cement to Develop 106 MW of Solar Projects to Meet its Captive Power Needs

Shree Cement to Develop 106 MW of Solar Projects to Meet its Captive Power Needs

Kolkata-based cement manufacturer Shree Cement plans to develop 106 MW of solar power projects to meet the captive power needs of its cement manufacturing facilities at various locations. The proposed capacity is ...
/ / Solar, Utility Scale
About 45% Of EU Firms Have Reported Investments to Fight Climate Change EIB Report

About 45% of EU Firms Have Reported Investments to Fight Climate Change: EIB Report

European Investment Bank (EIB) recently published the report "European firms and climate change 2020/2021: Evidence from the EIB Investment Survey". The report sheds light on how European Union (EU) firms ...
/ / Other, Renewable Energy
Augment Infrastructure Acquires a Majority Stake in CleanMax for ₹16.5 Billion

Augment Infrastructure Acquires a Majority Stake in CleanMax for ₹16.5 Billion

CleanMax, an Indian renewable energy company, announced that Augment Infrastructure, a U.S.-based investment company, has acquired a majority stake in the company investing ₹16.5 billion (~$222.23 million) in equity. As a ...
/ / Finance and M&A, Solar
Reliance, Bill Gates, and Others Invest $144 Million in Energy Storage Company Ambri

Reliance, Bill Gates, and Others Invest $144 Million in Energy Storage Company Ambri

Reliance New Energy Solar Limited (RNESL), a wholly-owned subsidiary of Reliance Industries Limited, along with investors like Bill Gates, Fortistar, Paulson & Co., and few other investors, have invested $144 ...
/ / Finance and M&A, Other
OMERS Infrastructure to Acquire 19.4% Stake in Azure Power for $219 Million

OMERS Infrastructure to Acquire 19.4% Stake in Azure Power for $219 Million

OMERS Infrastructure announced that it has signed a stock purchase agreement to acquire a 19.4% stake in Indian independent power (solar) producer Azure Power Global for $219 million from International Finance Corporation (IFC) ...
/ / Finance and M&A, Solar
First Solar to Set Up a 3.3 GW Thin Film Solar Module Manufacturing Facility in India

First Solar to Set Up a 3.3 GW Thin Film Solar Module Manufacturing Facility in India

First Solar, a U.S.-based manufacturer of solar modules, announced that it would invest $684 million to set up a new, vertically integrated photovoltaic (PV) thin film solar module manufacturing facility ...
/ / Manufacturing, Solar
EV Charging Company Allego to Go Public in a $3.14 Billion SPAC Deal

EV Charging Company Allego to Go Public in a $3.14 Billion SPAC Deal

Allego, an electric vehicle (EV) charging network company, has signed an agreement for a business combination with Spartan Acquisition Corp III, a special purpose acquisition company (SPAC), resulting in Allego becoming ...
/ / Finance and M&A, Other
Equity Lock-in Period Should be Removed to Boost Foreign Direct Investments in Solar

Equity Lock-in Period Should be Removed to Boost Foreign Direct Investments in Solar

Removing the one-year lock-in period for controlling shareholding could help increase investment flow into the solar market in India, which sorely needs it. A 'controlling shareholding' is the ownership (directly ...
Reliance New Energy Solar Incorporated as the Wholly-Owned Subsidiary of Reliance Inds (1)

Reliance New Energy Solar Incorporated as the Wholly-Owned Subsidiary of Reliance Inds

Reliance Industries Limited (RIL) has formed Reliance New Energy Solar Limited (RNESL), investing ₹100,000 (~$1342) for 10,000 equity shares of ₹10 (~$0.13) each. In its BSE filing, the company said ...
/ / Markets & Policy, Solar
IEA Expects Global Hydropower Capacity to Increase to 230 GW by 2030 (1)

IEA Expects Global Hydropower Capacity to Increase to 230 GW by 2030

Global hydropower capacity is expected to increase by 17%, or 230 GW, in the upcoming decade, the International Energy Agency (IEA) said in a recent report. In 2020, hydropower was ...
/ / Other, Renewable Energy
No New Coal-Fired Projects for Tata Power as it Aims for Carbon Neutrality by 2050

No New Coal-Fired Projects for Tata Power as it Aims for Carbon Neutrality by 2050

Indian power utility Tata Power aims to phase out its coal-based capacity and enhance its clean and green capacity to around 80% by 2030 from its current green portfolio of 31% ...
Battery Management Company ION Energy Raises $3.6 Million (1)

Battery Management Company ION Energy Raises $3.6 Million

ION Energy, an advanced battery management solutions provider for e-mobility and energy storage applications has announced that it has raised $3.6 million in Pre-Series A funding. The funding was raised ...
PGCIL Gets Board Approval to Invest ₹22.20 Billion in Power Transmission Network

PGCIL Gets Board Approval to Invest ₹22.20 Billion in Power Transmission Network

Power Grid Corporation of India Limited (PGCIL) noted that on May 21, 2021, its Board has approved an investment to the tune of ~₹22.20 billion (~$301.48 million) for commissioning various ...
Green Climate Fund Approves FMO's $137 Million Investment in India

Green Climate Fund Approves FMO’s $137 Million Investment in India

The Green Climate Fund (GCF) has approved Dutch development bank FMO's proposal to accelerate private and public sector investment in India's green infrastructure projects. Through the Green Growth Equity Fund ...
/ / Other, Renewable Energy
Daily News Wrap-Up: EESL Subsidiary to Distribute 15 Million LED Bulbs in Rural Areas

Daily News Wrap-Up: EESL Subsidiary to Distribute 15 Million LED Bulbs in Rural Areas

Here are some noteworthy renewable energy news from around the world: Convergence Energy Services Limited (CESL), a wholly-owned subsidiary of Energy Efficiency Services, has unveiled the GRAM UJALA program. Under ...
/ / Other, Renewable Energy
ReNew Power

Post IPO, ReNew Power Plans Over 18 GW of Renewables by 2025

ReNew Power, an India-based independent power producer, has plans to build a pipeline of around 18-19 GW of renewable capacity by the end of the financial year (FY) 2025, Sumant ...
/ / Finance and M&A, Other
Solar Tracking Company Array Technologies’ Net Profit Jumps 49% in 2020

Solar Tracking Company Array Technologies’ Net Profit Jumps 49% in 2020

Array Technologies, a U.S.-based solar tracking systems manufacturer, has reported a 49% increase in net profit with $59.07 million in 2020 from $39.74 million in 2019, despite a $9.77 million ...
/ / Markets & Policy, Solar
Daily News Wrap-Up: Total Bags a 50 MW Solar Project in French Energy Commission Auction

Daily News Wrap-Up: Total Bags a 50 MW Solar Project in French Energy Commission Auction

Here are some noteworthy cleantech announcements of the day from across the world: Total has said that its France-based renewable energy subsidiary Total Quadran was awarded 50 MW of solar ...
/ / Other, Renewable Energy
Distribution Companies Must Honor Power Purchase Agreements: Mercom Webinar

Distribution Companies Must Honor Power Purchase Agreements: Mercom Webinar

Mercom India hosted a webinar to discuss the key takeaways from the Indian Solar market in 2020 and the outlook for 2021. N.L. Sharma, Chairman and Managing Director of SJVN, ...
/ / Markets & Policy, Solar