Pune-based Electronica Finance Limited (EFL) has raised $10 million from a climate fund managed by Swiss impact investor responsAbility to diversify its SME lending offering and to expand into financing solar PV for the commercial and industrial markets.
The floating solar power plant—to be developed by AM International’ Greenam Energy—will be located in Tuticorin plant of Southern Petrochemical Industries Corporation (SPIC). The power generated will be used to meet SPIC’s electricity requirements and the excess will be sold to the state power utilities.
Currently, the Mumbai-based solar EPC firm is executing 134.5 MWp of solar projects to be commissioned by September 2019. It expects to surpass cumulative installation of 350 MWp by the end of this financial year.
The Malaysian oil and gas group has purchased solar developer Amplus Energy Solutions from infrastructure investor I Squared Capital. No financial terms of the deal have been disclosed.
Kanti Bijlee Utpadan Nigam Limited (KBUNL), a wholly owned subsidiary of NTPC Limited, has invited bids for setting up of 500 KW of rooftop solar PV capacity on various buildings of its plant for Muzaffarpur Thermal Power Project in Bihar. The project will be awarded based on domestic competitive bidding. The deadline for bid submission is May 8.
With Narendra Modi being tipped to triumph again in the current Indian elections, Indian solar capacity is expected to grow robustly, at 15.3% per year, on the back of continued strong government support.
The solar manufacturer is installing three rooftop systems in Karnataka and Tamil Nadu for polypropylene woven fabric maker Klene Paks. The units will have a cumulative capacity of 7.63 MW.
An emphasis on grid-parity PV has been hammered out in the latest policy document to emerge after several weeks of haggling in Beijing. Chinese analyst AECEA says the success of the subsidy-free effort will hinge on the ability of power companies to transmit and guarantee consumption of the power generated by new projects.
Avaada Energy has raised the funds from the Asian Development Bank and European development institutions. The PV developer will use the amount to finance 2.4 GW of the 5 GW of solar capacity it hopes to secure over the next two years.
ACME Solar installed the largest utility-scale solar capacity in 2018. It also had the largest project pipeline at the end of 2018, closely followed by SB Energy and Azure Power. While modules from China’s ZnShine were used the most, the imposition of the safeguard duty helped domestic manufacturers to capture a larger share of the market compared to 2017, according to clean energy consulting firm Mercom Communications.
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