Finance

ReNew, a Nasdaq-listed renewable energy company, will break ground today on its 6 GW solar ingot and wafer manufacturing facility in Andhra Pradesh. Chief Minister N. Chandrababu Naidu will lay the foundation stone at the project site in Anakapalli district.

The growing availability of financing options has had a visible impact on solar adoption. States with well-developed financing ecosystems and supportive policies have recorded significantly higher growth in rooftop installations. In some regions, adoption rates have increased multiple times within a short period.

CRISIL Ratings has assigned ‘A-/Stable’ long-term and ‘A2+’ short-term ratings to the bank facilities of SAEL Industries Ltd (SIL), a vertically integrated renewable energy company.

India’s ambition to achieve a 60% non-fossil fuel share in its energy mix by 2035 faces a critical financing challenge, with annual investment in renewables, storage, and transmission projected to rise sharply from $68 billion by 2032 to $145 billion by 2035—according to a new report by the Institute for Energy Economics and Financial Analysis (IEEFA).

The amended FDI policy for investments from countries sharing land borders with India aims to attract capital and technology for critical solar components—such as cells, wafers, and polysilicon—while retaining strategic control of assets with domestic entities. Industry experts say it could accelerate renewable energy infrastructure and manufacturing, but it also carries risks, including pricing pressure, making careful regulatory oversight essential.

Land acquisition has been completed for 40 GWh of manufacturing capacity awarded under India’s production-linked incentive (PLI) scheme for advanced chemistry battery cells (ACC).

LeapFrog leads with $50 million, joined by co‑investors Emerging Market Climate Action Fund and Carlyle AlpInvest.

As India’s clean energy ambitions scale, investment will increasingly follow regions that can deliver outcomes, not just intent. Gujarat’s experience suggests that long-term renewable growth depends as much on institutional preparedness and grid integration as it does on natural resources.

CRISIL has upgraded Advait Energy Transitions Ltd’s long-term rating to A-/Stable from BBB+/Stable, and short-term rating to A2+. In addition, the total bank loan facilities rated have been enhanced from INR 110 crore to INR 405 crore.

The next phase of green growth will depend on how quickly capital reaches businesses that are ready to modernize, become energy-efficient, and invest in cleaner production systems. The question is no longer whether sustainable lending will grow, it is how fast we can remove the barriers preventing it from scaling.