In year 2022, solar, wind and hybrid project finance lending amounted to INR 18,577 crore ($2.36 billion). On the other hand, like in 2021, not a single coal power plant received such funding.
The International Solar Alliance’s Global Solar Facility (GSF) includes payment guarantee, insurance and investment fund components to catalyze solar investments in underserved geographies.
Adani Green Energy Ltd (AGEL) has secured a $1.36 billion debt facility from eight international banks in one of the largest project finance deals in Asia. It will use the funding to develop the world’s largest renewable energy park at Khavda in Gujarat.
The solar manufacturer will utilize the net proceeds to expand its PV panel capacity from 450 MW to 1.2 GW and establish an aluminium frame manufacturing unit, besides meeting working capital expenses.
ReNew has signed a memorandum of understanding with the Asian Development Bank for the financing of renewable energy, manufacturing, carbon offset, and green hydrogen projects between 2023 and 2028.
The Asian Development Bank (ADB) has approved a $250 million policy-based loan to strengthen the market for power trade and related ancillary services in India, facilitating the integration of intermittent renewable energy. The loan will also enable measures to improve the financial performance, corporate governance, and service quality of electricity distribution companies (DISCOM) and create a conducive environment for private sector investment.
The state government of Odisha has approved green hydrogen and green ammonia projects of Welspun New Energy, Sembcorp Green Hydrogen, and ReNew E-Fuels.
AmpIn Energy Transition plans to invest INR 3,100 crore ($372 million) in setting up about 600 MW+ of renewable energy projects in Eastern India and an integrated 1.3 GW solar cells and modules manufacturing facility in Odisha state of the region.
Gensol Engineering Ltd recorded a revenue of INR 344.03 crore ($41.3 million) in H1 FY24, 88% up from INR 183.25 crore in H1 FY23. Profit after tax (PAT) grew 24% to INR 22.16 crore.
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