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Green lending criteria could improve the performance of power discoms in India 

A new report finds the current credit rating mechanism for power distribution companies in India is highly linked to their operational and financial performance. The report highlights the need to revise discom ratings to reflect their green mandates, decarbonization plans, and tariff implications to resolve the challenges of payables (and receivables).

Oorja secures $1 million in seed funding

The decentralized solar solutions provider shall use the amount to scale up its pay-per-use, solar-powered irrigation, milling, and cooling projects for farmers and to expand its operations. 

India and Australia’s richest race to net-zero by 2030

Today, both Reliance and Fortescue are realizing the huge investment, employment, import replacement and export opportunities in zero emissions industries of the future, both for India and Australia. And they look to be leading the way, fully supported by global financial institutions increasingly seeking to deploy trillions of patient capital in low volatility, non-commodity price exposed zero-emissions energy sources of the future.


Reliance Industries acquires 100% stake in REC Group, plans new manufacturing bases

India headquartered multinational Reliance Industries, through its subsidiary Reliance New Energy Solar Limited, yesterday announced the acquisition of Norway headquartered module manufacturer REC Group. The move comes as Reliance pushes forward with its US$10 billion plan to move in on the renewable energy industry, having also this week announced acquisition of a 40% share in EPC provider Sterling & Wilson.

Cleantech Solar secures INR 2 billion from NIIF

The Singapore-headquartered corporate solar provider, which has over 600 MWp of solar portfolio across India and Southeast Asia, shall utilize the debt funding to finance its open access solar projects in India.

Silicon metal and aluminum industries hit by China power shortages

A combination of booming demand for coal-fired power and a shortage of the black stuff – exacerbated by a political row with Australia – have forced up prices to the extent fossil fuel generators are making a loss on every unit of electricity they produce. pv magazine‘s Vincent Shaw considers the potential solutions.

Consultancy sought for India-funded 100 MW solar plant in Bangladesh

The majority of the finance for the $177 million, Jamuna river project will be provided in the form of soft loans from the Indian government and officials are reportedly already planning a second 100 MW facility with a Chinese firm on nearby land.

Vector Green raises INR 14 billion for operating solar assets

The Mumbai-based renewable power producer has raised the long-term, non-recourse debt from the Indian Renewable Energy Development Agency Ltd (IREDA). It shall use the amount to finance its operating solar projects in Punjab, Andhra Pradesh, and Telangana.

Adani concludes India’s largest renewables M&A transaction

Adani Green Energy has completed the acquisition of 5 GW of solar and wind assets from SB Energy India for $3.5 billion, marking the largest renewables M&A deal in the country. The acquisition swells Adani’s operational capacity by 46%.

NTPC arm signs green term loan pact for 670 MW solar

The renewable energy arm of NTPC signed the pact with the Bank of India to finance its 470 MW solar project in Rajasthan and 200 MW in Gujarat.

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