Scheduled Banks’ Loans to Renewable Projects Up 113% in April-Nov Period
The loans to the renewable energy projects disbursed by the scheduled commercial banks stood at ₹41.77 billion (~$507.19 million) as of November 2022. This is a 113% year-over-year jump in ...
World Bank To Provide $200 Million for Two Solar Projects in India
The World Bank has signed agreements with the Government of India and the Solar Energy Corporation of India (SECI) for loans and grants worth $200 million to deploy renewable energy ...
SIDBI Offers 100% Financing for Rooftop Solar at a Reasonable Interest Rate
Small Industries Development Bank of India (SIDBI), a bank dedicated to the financial needs of small businesses, offers 100% loans for rooftop solar installations, which can help MSMEs save on ...
REC Limited’s Loan Disbursements to Renewable Energy Companies Rises by 426% in 1H FY 2023
REC Limited's consolidated net profit saw a marginal increase of 4% to ₹51.76 billion (~$628.57 million) in the first half (1H) of FY 2023, compared to ₹49.6 billion (~$602.34 million) ...
Project Finance Brief: BluEarth Acquires 1 GW Solar and Wind Project in the US
BluEarth, an independent renewable power producer focused on acquiring, developing, constructing, and operating wind, hydro and solar projects across the US, has acquired the Eads solar and wind project in ...
REC Limited Posts Annual Profit of ₹100 Billion, its Highest-Ever
REC Limited, a public infrastructure finance company, reported a total income of ₹392.30 billion (~$5.05 billion) for the financial year (FY) 2022, an 11% increase compared to ₹354.10 billion (~$4.56 ...
IREDA Reports Highest-Ever Loan Disbursement to Renewable Energy Sector in FY 2022
Indian Renewable Energy Development Agency (IREDA) recorded its highest-ever loan approvals of ₹239.21 billion (~$3.16 billion) and loan disbursements of ₹160.71 billion (~$2.12 billion) in the financial year (FY) 2021-2022 ...
Loans Provided to Renewable Energy Sector by REC Limited Up 10% YoY in Q3 FY22
REC Limited, a public infrastructure finance company involved in financing power projects, disbursed ₹4.7 billion (~$62.93 million) in loans to the renewable energy sector in the third quarter (Q3) of ...
NTPC Plans to Raise ₹50 Billion Term Loan to Finance Renewable Energy Expansion
NTPC Limited has invited offers from banks and financial institutions to raise ₹50 billion (~$672 million) as rupee term loans. The loan proceeds would be utilized towards capital expenditure for ...
REC’s Profits Surge 71% Year-Over-Year to ₹83.62 Billion in FY 2021
REC Limited has announced the consolidated financial results for the fourth quarter (Q4) and financial year (FY) 2021. REC's net profit surged by 71% in FY 2021 to ₹83.62 billion ...
Government-owned Power Financing Institutions Reduce Lending Rates
State-owned non-banking financial firms, Power Finance Corporation (PFC), and REC will reduce lending rates by up to 2% points from April 1, 2021. According to the PTI, the PFC said, ...
Over ₹300 Billion Released by REC Under DISCOMs’ Liquidity Package
REC Limited, formerly called the Rural Electrification Corporation Limited, reported that it had sanctioned over ₹300 billion (~$4 billion) to distribution companies (DISCOMs) in the country as of July 31, ...
Andhra Pradesh Gives State Guarantee for DISCOMs to Avail ₹66 Billion in Loans
The Government of Andhra Pradesh has provided a state-backed guarantee for distribution companies (DISCOMs) to avail ₹66 billion (~$873.4 million) loan from the Power Finance Corporation Limited (PFC) and Rural ...
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) ...
IREDA Announces Gross Income of ₹17.8 Billion in FY 2017-18
The Indian Renewable Energy Development Agency (IREDA) has posted gross income worth ₹17.8 billion (~$0.24 billion) in financial year (FY) 2017-18. This is an approximate growth of 20 percent over ...
Germany and India Sign a €200 Million Loan Agreement to Fund Renewable Projects
KfW, a leading German financial institution, has signed a €200 million (~$228.15 million) loan agreement with India’s Rural Electrification Corporation Limited (REC), a state-run power sector financer. KfW signed the ...