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
Vedanta Aluminium Procured 2 Billion Units of Renewable Energy in 2021

Vedanta Aluminium Procured 2 Billion Units of Renewable Energy in 2021

Indian aluminum producer Vedanta Aluminium Business announced that it has become India's largest industrial consumer of renewable energy. The company led renewable energy procurement on India’s power exchanges like Indian ...
/ / Other, Renewable Energy
Renewable Energy Trading at IEX Dipped to 365 MU in December 2021

Renewable Energy Trading at IEX Dipped to 365 MU in December 2021

The Indian Energy Exchange (IEX) traded 365 million units (MU) of renewable energy in December 2021, a 20.13% month-over-month (MoM) decline compared to 457 MU in November. However, the fourth quarter of ...
/ / Other, Renewable Energy
Five Banks Facilitate Green Loan to Fund Reliance’ REC Solar Acquisition

Five Banks Facilitate Green Loan to Fund Reliance’ REC Solar Acquisition

Reliance Industries (RIL) has availed $736 million equivalent green loans from five banks to fund its acquisition of Norway-headquartered solar cells, modules, and polysilicon manufacturer REC Solar Holdings. The five ...
/ / Finance and M&A, Solar
IEX’s Green Market Trades 457 MU of Renewable Energy in November 2021

IEX’s Green Market Trades 457 MU of Renewable Energy in November 2021

The Indian Energy Exchange (IEX) traded 457 million units (MU) of renewable energy in November 2021, a 23% month-over-month (MoM) increase compared to 372.4 MU in October. The exchange saw ...
/ / Other, Renewable Energy
Chemicals Company in Punjab to Buy Renewable Energy Certificates to Fulfill RPO

Chemicals Company in Punjab to Buy Renewable Energy Certificates to Fulfill RPO

The Punjab State Electricity Regulatory Commission (PSERC) has allowed a chemicals company to fulfill its renewable energy purchase obligation (RPO) shortfall by purchasing renewable energy certificates (REC) by March 31, ...
/ / Markets & Policy, Solar
Daily News Wrap-Up: IEX to Resume REC Trading from November 24

Daily News Wrap-Up: IEX to Resume REC Trading from November 24

Here are some noteworthy cleantech announcements of the day from around the world: The Indian Energy Exchange (IEX) will resume the Renewable Energy Certificates (REC) trading from November 24, 2021 ...
/ / Other, Renewable Energy
APTEL Strikes Down CERC's Order Removing Floor Prices of Solar and Non-Solar RECs

APTEL Strikes Down CERC’s Order Removing Floor Prices of Solar and Non-Solar RECs

The Appellate Tribunal for Electricity (APTEL) has set aside the order passed by the Central Electricity Regulatory Commission (CERC) revising the floor and forbearance prices of solar and non-solar renewable ...
/ / Other, Renewable Energy
IEX’s Green Market Trades 372 MU of Renewable Energy in October

IEX’s Green Market Trades 372 MU of Renewable Energy in October

The Indian Energy Exchange (IEX) traded 372.4 million units (MU) of renewable energy in October 2021, a 31% month-over-month (MoM) decline compared to 543 MU in September. The exchange saw ...
/ / Grid, Market & Policy
REC Limited’s Loans to Renewable Energy Sector Down 68% YoY in Q2 FY 2022

REC Limited’s Loans to Renewable Energy Sector Down 68% YoY in Q2 FY 2022

REC Limited, a public infrastructure finance company, involved in financing power projects, recorded a 15% year-over-year (YoY) growth in its total income in the second quarter (Q2) of the financial ...
/ / Finance and M&A, Other
Reliance's REC Acquisition Could Reduce Indian Solar Developers' Dependence on Imports

Reliance’s REC Acquisition Could Reduce Indian Solar Developers’ Dependence on Imports

Solar developers and module manufacturers believe Reliance Group's recent solar acquisitions will help India provide an alternative to Chinese products. In June 2021, Mukesh Ambani, Chairman of Reliance Industries, announced that Reliance ...
Power Sector Financier REC Limited Secures $75 Million Loan from Sumitomo Mitsui Banking

Power Sector Financier REC Limited Secures $75 Million Loan from Sumitomo Mitsui Banking

REC Limited, a public infrastructure finance company in India’s power sector, has raised a $75 million five-year secured overnight financing rate (SOFR) linked syndicated term loan. Sumitomo Mitsui Banking Corporation ...
/ / Finance and M&A, Other
Reliance Acquires REC Solar Holding for $771 Million

Reliance Acquires REC Solar Holding for $771 Million

Reliance New Energy Solar, a wholly-owned subsidiary of Reliance Industries, has acquired REC Solar Holdings from China National Bluestar Group for $771 million. REC is a Norway-headquartered solar cell, modules, ...
/ / Finance and M&A, Solar
IEX’s Green-Term Ahead Market Traded 1.68 BU in Q3 2021

IEX’s Green-Term Ahead Market Traded 1.68 BU in Q3 2021

The Indian Energy Exchange (IEX) traded 1.68 billion units (BU) of renewable energy in the third quarter (Q3) of the calendar year (CY) 2021. The exchange traded 8.99 BU of ...
/ / Grid, Market & Policy
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
Daily News Wrap-Up: Emmvee to Set Up a 3 GW Solar Module and Cell Manufacturing Facility

Daily News Wrap-Up: Emmvee to Set Up a 3 GW Solar Module and Cell Manufacturing Facility

Here are some noteworthy cleantech announcements of the day from around the world: Bangalore-based solar module manufacturer Emmvee has signed a memorandum of understanding (MoU) with the Karnataka government to ...
/ / Other, Renewable Energy
Renewable Energy Certificates To Be Valid Until Sold - Power Ministry

Renewable Energy Certificates to be Valid Until Sold – Power Ministry

The Union Minister of Power R K Singh has approved amendments to the renewable energy certificate (REC) mechanism. According to the new amendments, the REC will remain valid until it ...
/ / Grid, Market & Policy
Infrastructure Finance Company REC to Raise ₹850 Billion Through Bonds and Debentures

Infrastructure Finance Company REC to Raise ₹850 Billion Through Bonds and Debentures

REC Limited, an infrastructure finance company involved in financing power projects, is seeking the approval of shareholders to raise ₹850 billion (~$11.63 billion) through the private placement of bonds or ...
/ / Finance and M&A, Other
Delhi Regulatory Commission Releases Renewable Purchase Obligation Guidelines

Delhi Regulatory Commission Releases Renewable Purchase Obligation Guidelines

The Delhi Electricity Regulatory Commission has announced the ‘Renewable Purchase Obligation and Renewable Energy Certificate Framework Implementation Regulations, 2021.’ The regulations are effective from April 13, 2021. The rules govern ...
/ / Grid, Market & Policy
A Record 726 MU of Renewables Traded at IEX’s Green Term-Ahead Market in July

A Record 726 MU of Renewables Traded at IEX’s Green Term-Ahead Market in July

The Indian Energy Exchange (IEX) traded an all-time high volume of 726 MU of renewable energy in July 2021, a 76% month-over-month (MoM) increase compared to 412 MU in the ...
/ / Other, Renewable Energy
Captive Power Producers in Maharashtra Allowed Time to Clear RPO Backlog

Captive Power Producers in Maharashtra Allowed Time to Clear RPO Backlog

The Maharashtra Electricity Regulatory Commission (MERC), in its recent order, allowed captive power producers to fulfill their renewable purchase obligation (RPO) backlog for the financial years (FY) starting 2015 to ...
/ / Markets & Policy, Solar
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
IEX’s Green Term-Ahead Market Traded 412 MU of Green Energy in June 2021

IEX’s Green Term-Ahead Market Traded 412 MU of Green Energy in June 2021

The Indian Energy Exchange (IEX) traded 412 MU of green energy in June 2021 due to the ongoing wind season. This is a 15% increase compared to 357 MU traded in May ...
Punjab Issues Draft Regulations for Grid-Connected Rooftop Solar and Net Metering

Punjab Issues Draft Regulations for Grid-Connected Rooftop Solar and Net Metering

The Punjab State Electricity Regulatory Commission (PSERC) has issued the draft Grid-Interactive Rooftop Solar Regulations, 2021. The regulations will come into force from the date of publication in the official ...
/ / Rooftop, Solar
Four Union Territories and Goa Fail to Comply With Renewable Purchase Obligations

Four Union Territories and Goa Fail to Comply with Renewable Purchase Obligations

The Joint Electricity Regulatory Commission (JERC) has reviewed renewable purchase obligation (RPO) targets for 2020-21 based on the submitted data from the regions of its jurisdiction. According to the Commission's ...