Daily News Wrap-Up: JBIC Loans PFC $220 Million for Renewable Energy Projects

Daily News Wrap-Up: JBIC Loans PFC $220 Million for Renewable Energy Projects

Here are some noteworthy cleantech announcements of the day from around the world: Power Finance Corporation (PFC) signed a loan agreement for ¥30 billion (~$220.83 million) with Japan Bank for ...
Daily News Wrap-Up: Reliance Merges its Renewable Energy Arm Into the Company

Daily News Wrap-Up: Reliance Merges its Renewable Energy Arm Into the Company

Here are some noteworthy cleantech announcements of the day from around the world: Reliance Industries announced the amalgamation of its wholly-owned subsidiary Reliance New Energy Limited (RNEL), into the company ...
/ / Uncategorized
Bids Invited for Interstate Transmission System to Evacuate of 20 GW of Renewables

Bids Invited for Interstate Transmission System to Evacuate 20 GW of Renewables

PFC Consulting, a wholly-owned subsidiary of Power Finance Corporation (PFC), has invited bids to develop an interstate transmission system (ISTS) to evacuate 20 GW of power from the renewable energy ...
/ / Grid, T&D
Renewables Sector Needs an Annual Investment of ₹2 Trillion Standing Committee Report

Renewables Sector Needs an Annual Investment of ₹2 Trillion: Standing Committee Report

The Parliamentary Standing Committee on Energy recommended that the Ministry of New and Renewable Energy (MNRE) work proactively to make available and explore innovative financing mechanisms and alternative funding avenues ...
/ / Finance and M&A, Other
Smart Meter Installations Across the Country Grow Steadily

Smart Meter Installations Across the Country Grow Steadily

According to the recent data released by the National Smart Grid Mission, Ministry of Power, 3.73 million smart meters have been installed across the country out of the total allocated ...
/ / Grid, Smart Grid
Power Minister Outlines Steps to Improve Financial Health of DISCOMs

Power Minister Outlines Steps to Improve Financial Health of DISCOMs

In a written reply in Rajya Sabha, Union Power Minister RK Singh outlined the various steps taken by the government to help improve the financial health of the distribution companies ...
/ / Grid, Market & Policy
Daily News Wrap-Up: India, Denmark to Initiate Joint R&D on Green Hydrogen

Daily News Wrap-Up: India, Denmark to Initiate Joint R&D on Green Hydrogen

Here are some noteworthy cleantech announcements of the day from around the world: India and Denmark agreed to initiate joint research and development on green fuels, including green hydrogen, during ...
/ / Other, Renewable Energy
PFC and REC Reduce Lending Rates to Boost Expansion of Renewable Energy Projects

PFC and REC Reduce Lending Rates to Boost Expansion of Renewable Energy Projects

Power Finance Corporation (PFC) and REC Limited, public finance infrastructure companies, have reduced their lending rates by 40 basis points for all types of loans. The companies revised lending rates ...
/ / Other, Renewable Energy
Daily News Wrap-Up: MNRE Simplifies Guidelines for KUSUM Solar Program

Daily News Wrap-Up: MNRE Simplifies Guidelines for KUSUM Solar Program

Here are some noteworthy cleantech announcements of the day from around the world: The Ministry of New and Renewable Energy (MNRE) has issued a new guideline stating that states can ...
/ / Other, Renewable Energy
Daily News Wrap-Up: European Union Issues its First-Ever NextGenerationEU Green Bond

Daily News Wrap-Up: European Union Issues its First-Ever NextGenerationEU Green Bond

Here are some noteworthy cleantech announcements of the day from around the world: The European Union has issued its first-ever NextGenerationEU green bond. The 15-year bond due on February 4, ...
/ / Other, Renewable Energy
Daily News Wrap-Up: Germany to Contribute €100 Million for Sustainable Energy in Africa

Daily News Wrap-Up: Germany to Contribute €100 Million for Sustainable Energy in Africa

Here are some noteworthy cleantech announcements of the day from around the world: Germany will contribute €100 million (~$115.45 million) to the African Development Bank's Sustainable Energy Fund for Africa ...
/ / Other, Renewable Energy
Power Finance Corporation Issues India's First-Ever Euro-Denominated Green Bond

Power Finance Corporation Issues India’s First-Ever Euro-Denominated Green Bond

Power Finance Corporation Ltd (PFC), a financial institution under the Ministry of Finance, issued its maiden Euro Green Bond of £300 million (~$353 million) under the U.S. Global Medium Term ...
/ / Finance and M&A, Other
Ministry of Power Releases Detailed Plan to Revamp DISCOMs

Ministry of Power Releases Detailed Plan to Revamp DISCOMs

The Ministry of Power (MoP) has issued detailed guidelines for reform-based result-linked power distribution program over the next five years. The program aims to improve the quality and the reliability ...
/ / Grid, Market & Policy
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
Maharashtra Regulator Denies Solar Developer's Plea to Return Bank Guarantee

Maharashtra Regulator Denies Solar Developer’s Plea to Return Bank Guarantee

The Maharashtra Electricity Regulatory Commission (MERC) has dismissed ACME Solar's plea for the return of performance bank guarantee (PBG). It said that the power purchase agreement (PPA) specifies conditions for ...
/ / Markets & Policy, Solar
Five More States Become Eligible for Power Sector's Reform-Linked Borrowings

Five More States Become Eligible for Power Sector’s Reform-Linked Borrowings

Reform-linked borrowings have provided the necessary impetus for reforms in the power sector in many states in the country. According to the latest figures released by the Ministry of Finance, ...
/ / AT&C, Grid
DISCOM Dues to Renewable Generators Edged Up to ₹122 Billion in January 2021

DISCOM Dues to Renewable Generators Edged Up to ₹122 Billion in January 2021

Distribution companies (DISCOMs) owed ₹122.49 billion (~$1.65 billion) to renewable energy generators (excluding disputed amounts) in overdue payments across 384 pending invoices at the end of January 2021, according to ...
/ / Grid, Market & Policy
DISCOM Dues to Renewable Generators Reach ₹121 Billion in December 2020

DISCOM Dues to Renewable Generators Reach ₹121 Billion in December 2020

Distribution companies (DISCOMs) owed nearly ₹121.12 billion (~$1.65 billion) to renewable energy generators (excluding disputed amounts) in overdue payments across 380 pending invoices, according to data released by the Ministry ...
/ / Grid, Market & Policy
Power Finance Corporation to Raise ₹100 Billion Through Bonds Issue

Power Finance Corporation to Raise ₹100 Billion Through Bonds Issue

The country's biggest lender to the power sector, the Power Finance Corporation (PFC), will raise ₹100 billion (~$1.36 billion) through bonds in two tranches. According to the company's prospectus, the ...
/ / Finance and M&A, Other
Power Producers Say TANGEDCO Demanding Heavy Discounts on Pending Dues

Tamil Nadu DISCOM Demanding Heavy Discounts on Pending Dues: Power Producers

The Association of Power Producers (APP) has complained that Tamil Nadu Generation and Distribution Corporation (TANGEDCO) is forcing them to accept heavy discounts on dues payable. In a letter to ...
/ / Grid, Market & Policy
Solar Developers Seek Center's Help for Payment Release by Andhra DISCOMs

Solar Developers Seek Center’s Help for Payment Release by Andhra DISCOMs

The National Solar Energy Federation of India (NSEFI) has requested the Union Power Minister, R.K. Singh, for the release of payments by the Power Finance Corporation (PFC) and REC Limited ...
/ / Markets & Policy, Solar
PFC Approves Nearly ₹21 Billion for Sterlite's ISTS Project Connecting West & Northeast

PFC Approves Nearly ₹21 Billion for Sterlite’s ISTS Project Connecting West & Northeast

Mumbai-based power transmission company Sterlite Power secured the financial closure for its Vapi II North Lakhimpur Transmission Limited (VNLTL). Sterlite said that the total debt funding of ₹20.7 billion (~$281 ...
/ / Grid, T&D
REC Earmarks ₹27.9 Billion Loan to Help Jammu and Kashmir DISCOM With its Dues

REC Earmarks ₹27.9 Billion Loan to Help Jammu and Kashmir DISCOM With its Dues

REC Limited has approved a ₹27.9 billion (~$380.9 million) loan to the Jammu Kashmir Power Corporation Limited (JKPCL) under the liquidity infusion program of the Indian Government’s Aatmanirbhar Bharat initiative. The ...
Power Ministry Decides to Check Erratic Late Payment Surcharges, Proposes Rules

Power Ministry Decides to Check High Late Payment Surcharges, Proposes Rules

The Ministry of Power (MoP) has proposed Late Payment Surcharge Rules 2020. The government has noticed the extremely high rate of late payment surcharges prevailing in the sector. It has ...
/ / Grid, Market & Policy
PFC and REC to Infuse ₹3 Billion to Set up Backend Infrastructure for Smart Meters

PFC and REC to Infuse ₹3 Billion to Set up Backend Infrastructure for Smart Meters

The Power Finance Corporation Limited (PFC), in a recent filing on the Bombay Stock Exchange (BSE), said that it had approved the infusion of ₹1.5 billion (~$20.4 million) in a ...
/ / Grid, Market & Policy