ACME Solar Holdings’ ₹29 Billion IPO to Hit the Market on November 6, 2024

Jodhpur DISCOM Tenders 333 MW Solar Projects Under PM KUSUM

CIE Automotive to Procure Power from ReNew’s 7.8 MW Captive Solar Project

John Cockerill to Supply Electrolyzers to AM Green’s Ammonia Project

Varroc to Procure Power from AMPIN’s 27 MW Solar Project in Maharashtra

JinkoSolar’s Revenue Drops 23% YoY in Q3 Due to Lower Module Prices

First Solar Revenue Falls Short in Q3, Revises 2024 Guidance Amid Sector Pressures

Tata Power Records 20th Consecutive Quarter of Profit in Q2 FY 2025

SECI Floats Tender to Procure 1.2 GW Round-the-Clock Renewable Power

Daily News Wrap-Up: APTEL Criticizes MERC for Denying Petitioner Relief


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="http://mercomindia.com/wp-content/uploads/2022/12/amazon_polly_47013.mp3?version=1672811661">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>The renewable energy capacity, including large hydro projects in India, accounted for 40.3% of the overall capacity mix at the end of September 2022, with a 163.7 GW capacity, according to the data from Central Electricity Authority (<a href="https://cea.nic.in/?lang=en" target="_blank" rel="noopener">CEA</a>) and Mercom’s <a href="https://mercomindia.com/product/india-solar-project-tracker/" target="_blank" rel="noopener">India Solar Project Tracker</a>.</p>
<p>The rise in installations was also supported by the increased number of investments in renewable projects across India.</p>
<p>The investments in the Indian solar sector alone during the first nine months (9M) of 2022 totaled $7.6 billion (~₹629.41 billion), per Mercom India Research’s latest report, <a href="https://mercomindia.com/product/q3-2022-india-solar-market-update/" target="_blank" rel="noopener">Q3 2022 India Solar Market Update</a>.</p>
<p>The top five renewable project funding deals that grabbed the headlines in 2022:</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-47015 size-full" src="https://mercomindia.com/wp-content/uploads/2022/12/Picture1-4.jpg" alt="" width="1379" height="207" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture1-4.jpg 1379w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture1-4-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture1-4-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture1-4-650x98.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture1-4-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture1-4-600x90.jpg 600w" sizes="(max-width: 1379px) 100vw, 1379px" /></p>
<p>Independent power producer ReNew Power <a href="https://mercomindia.com/renew-power-1-1-billion-loan-1-3-gw-round-the-clock-renewable/" target="_blank" rel="noopener">announced</a> a partnership with twelve international lenders for what is deemed to be the largest External Commercial Borrowings project finance loan totaling $1.1 billion in India&#8217;s renewables sector for any single project. Led by Netherlands-based Dutch multinational bank Rabobank, the loan will be used for ReNew&#8217;s hybrid round-the-clock (RTC) battery-enabled renewable project.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-47016 size-full" src="https://mercomindia.com/wp-content/uploads/2022/12/Picture2-1.jpg" alt="" width="1379" height="207" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture2-1.jpg 1379w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture2-1-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture2-1-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture2-1-650x98.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture2-1-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture2-1-600x90.jpg 600w" sizes="(max-width: 1379px) 100vw, 1379px" /></p>
<p>The Indian Renewable Energy Development Agency (IREDA) <a href="https://mercomindia.com/ireda-approves-%e2%82%b944-45-billion-loan-sjvn-1-gw-solar/" target="_blank" rel="noopener">approved</a> a ₹44.45 billion (~$537.14 million) loan to SJVN Green Energy to develop a 1 GW solar project in Bikaner, Rajasthan. SJVN had bagged the project tendered by IREDA under the CPSU Phase-II (Tranche-III) program under viability gap funding to develop a grid-connected solar project. The project is to be commissioned within 36 months from the letter of award and will connect to the 400/200 kV Bikaner-II substation.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-47017 size-full" src="https://mercomindia.com/wp-content/uploads/2022/12/Picture3-1.jpg" alt="" width="1379" height="207" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture3-1.jpg 1379w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture3-1-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture3-1-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture3-1-650x98.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture3-1-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture3-1-600x90.jpg 600w" sizes="(max-width: 1379px) 100vw, 1379px" /></p>
<p>Renewable energy platform Continuum Green Energy <a href="https://mercomindia.com/continuum-raises-350-million-debt-for-clean-energy/" target="_blank" rel="noopener">raised</a> $350 million (~₹27.9 billion) from two marquee global institutional investors to finance the expansion of its clean energy projects. The fund-raising round allowed the investors to issue an additional $50 million (~₹3.99 billion) on fulfilling certain conditions.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-47018 size-full" src="https://mercomindia.com/wp-content/uploads/2022/12/Picture4-1.jpg" alt="" width="1379" height="207" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture4-1.jpg 1379w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture4-1-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture4-1-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture4-1-650x98.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture4-1-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture4-1-600x90.jpg 600w" sizes="(max-width: 1379px) 100vw, 1379px" /></p>
<p>Adani Green Energy <a href="https://mercomindia.com/adani-green-288-million-solar-wind-hybrid-rajasthan/" target="_blank" rel="noopener">raised</a> a $288 million (~₹21.76 billion) financing facility by extending its construction financing framework to $1.64 billion (~₹124 billion) for its under-construction renewable asset portfolio through agreements signed with leading lenders. The facility is expected to help finance the company&#8217;s 450 MW of wind-solar hybrid power projects in Rajasthan.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-47029 size-full" src="https://mercomindia.com/wp-content/uploads/2022/12/Picture5-1.jpg" alt="" width="1379" height="207" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture5-1.jpg 1379w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture5-1-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture5-1-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture5-1-650x98.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture5-1-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/12/Picture5-1-600x90.jpg 600w" sizes="(max-width: 1379px) 100vw, 1379px" /></p>
<p>Tata Power <a href="https://mercomindia.com/tata-power-gets-finance-facility-billion-mw-of-solar-projects/" target="_blank" rel="noopener">secured</a> a ₹4.5 billion (~$54.3 million) trade finance facility from Japan-based Mitsubishi UFJ Financial Group for two solar projects. The funds will be used for a 100 MW solar project in Parthur, Maharashtra, and a 120 MW solar project in Mesanka, Gujarat. Both projects will be executed by TP Kirnali, a wholly owned subsidiary of Tata Power Renewable Energy, the clean energy arm of Tata Power.</p>


India’s Top Five Renewable Energy Project Funding Deals Announced in 2022 [Infographics]

<p>India has contributed $1 million for the development of a solar project at the United Nations headquarters in New York.</p>
<p>The contribution will help reduce carbon footprint and promote sustainable energy, India’s permanent representative to the UN ambassador Syed Akbaruddin said in a tweet.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
<p lang="en" dir="ltr">1st responder to <a href="https://twitter.com/antonioguterres?ref_src=twsrc%5Etfw">@antonioguterres</a>  call for Climate Action .</p>
<p>India funds solar project <a href="https://twitter.com/UN?ref_src=twsrc%5Etfw">@UN</a> Hqrs to reduce carbon footprint &amp; promote sustainable energy. <a href="https://twitter.com/hashtag/ClimateAction?src=hash&amp;ref_src=twsrc%5Etfw">#ClimateAction</a>  <a href="https://twitter.com/hashtag/solarpower?src=hash&amp;ref_src=twsrc%5Etfw">#solarpower</a> <a href="https://t.co/z2Oppsam5l">pic.twitter.com/z2Oppsam5l</a></p>
<p>&mdash; Syed Akbaruddin (@AkbaruddinIndia) <a href="https://twitter.com/AkbaruddinIndia/status/1042423109800943616?ref_src=twsrc%5Etfw">September 19, 2018</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>He also added that India is the “first responder” to secretary-general Antonio Guterres’ call for climate action.</p>
<p>On September 17 2018, the secretary general at the UN made a statement on Twitter expressing his condolences for the loss of life and damage to property caused due to hurricanes in South East Asia and the United States. He urged authorities to take action against climate change linked to fossil fuel emissions.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
<p lang="en" dir="ltr">I thank Ambassador <a href="https://twitter.com/AkbaruddinIndia?ref_src=twsrc%5Etfw">@AkbaruddinIndia</a> <a href="https://twitter.com/IndiaUNNewYork?ref_src=twsrc%5Etfw">@IndiaUNNewYork</a> for India’s generous contribution for the installation of solar panels on the roof of the <a href="https://twitter.com/UN?ref_src=twsrc%5Etfw">@UN</a> conference building. A strong message promoting <a href="https://twitter.com/hashtag/Innovation?src=hash&amp;ref_src=twsrc%5Etfw">#Innovation</a> for action on <a href="https://twitter.com/hashtag/climatechange?src=hash&amp;ref_src=twsrc%5Etfw">#climatechange</a> <a href="https://twitter.com/hashtag/efficiency?src=hash&amp;ref_src=twsrc%5Etfw">#efficiency</a> <a href="https://t.co/SsmTYMgzbU">pic.twitter.com/SsmTYMgzbU</a></p>
<p>&mdash; Jan Beagle (@JanMBeagle) <a href="https://twitter.com/JanMBeagle/status/1042507648569167872?ref_src=twsrc%5Etfw">September 19, 2018</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>In June, Akbaruddin said during a session on World Environment Day that India intends to partner with the UN Secretariat to use renewable solar energy at the UN premises. He had expressed hope that by the next World Environment Day, solar energy would be part of the energy mix used in the UN building.</p>
<p>In September 2019, Secretary-General António Guterres will convene a Climate Summit hosted by the UN to bring climate action to make climate action a propriety for international agenda and Luis Alfonso de Alba, a former Mexican diplomat, is his special envoy to lead its preparations. The summit will focus on the sectors that create the most emissions and the areas where building resilience could make the biggest difference.</p>
<p>World leaders will report on what they are doing, and what more they intend to do when they convene in 2020 for the UN climate conference, where commitments will be renewed and may be increased.</p>
<p><a href="https://mercomindia.com/rec-international-solar-alliance/" target="_blank" rel="noopener">Previously</a>, on World Environment Day, the Rural Electrification Corporation (REC), a state-run power sector financer, announced a $1 million contribution to the International Solar Alliance (ISA). The ISA is an <a href="https://mercomindia.com/isa-international-intergovernmental-organization/" target="_blank" rel="noopener">Indian initiative</a> jointly launched by Narendra Modi and the French president in November 2015 in Paris on the sidelines of COP-21, the UN Climate Conference.</p>


India Contributes $1 Million for Solar Project at UN Headquarters

solar-india

Get the most relevant India solar and clean energy news.

RECENT POSTS