Scheduled Banks’ Loans to Renewable Projects Up 113% in April-Nov Period

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

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 ...
/ / Finance and M&A, Other, Solar
SIDBI Offers 100% Financing for Rooftop Solar at a Reasonable Interest Rate

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 ...
/ / C&I, Consumers, Solar
REC Limited's Net Profit Increases Marginally YoY to ₹51.76 Billion in 1H FY 2023

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) ...
/ / Markets & Policy, Solar
Project Finance Brief: BluEarth Acquires 1 GW Solar and Wind Project in the US

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 ...
/ / Finance and M&A, Solar
REC Limited Posts Annual Profit of ₹100 Billion, its Highest-Ever

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

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 ...
/ / Other, Renewable Energy
Loans Provided to Renewable Energy Sector by REC Limited Up 10% YoY in Q3 FY22

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 ...
/ / Finance and M&A, Other
NTPC Plans to Raise ₹50 Billion Term Loan to Finance Renewable Energy Expansion

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 ...
/ / Finance and M&A
REC's Profits Surge 71% Year-Over-Year to ₹83.62 Billion in FY 2021

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 ...
/ / Finance and M&A, Other
Government-owned Power Financing Institutions Reduce Lending Rates (2)

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, ...
/ / Finance and M&A, Other
Over ₹300 Billion Released by REC Under DISCOMs’ Liquidity Package

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

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

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) ...
/ / Markets & Policy, Other
IREDA Announces Gross Income of ₹17.8 Billion in FY 2017-18

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 ...
/ / Markets & Policy, Solar
Germany and India Sign a €200 Million Loan Agreement to Fund Renewable Projects

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 ...
/ / Other, Renewable Energy