Finance

Solar post-Assembly elections

Having achieved 100% household electrification, the PM Modi led government seeking re-election aims to ensure electrification of all railway tracks by 2022 and turn renewable into a popular movement with steps like emphasis on solar farming. Even if the elections spring a surprise, the renewable momentum is unlikely to slow down as no government can afford to ignore the phenomenon.

EFL raises $10 million to expand green lending portfolio

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.

Petronas jumps into PV market with Amplus acquisition

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.

India’s solar sector will outperform globally despite near-term challenges, says Fitch Solutions

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.

India urgently requires policy on PV waste management: Bridge to India

The nation is trailing behind peers such as the EU when it comes to policy guidelines for materials and recycling and the lack of a viable business case for reusing materials doesn’t help matters.

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Orb Energy begins third phase of one of India’s largest multi-site PV rooftops

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.

Avaada raises Rs1000 crore to fund its 2.4 GW solar 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.

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Suzlon sells two more solar subsidiaries to Ostro Energy

Suzlon Energy is selling Shreyas Solarfarms and Aalok Solarfarms to Ostro Energy—a wholly owned subsidiary of independent power producer ReNew Power—for Rs 19.87 crore and Rs 9.93 crore, respectively.

PTC Financial joins USICEF initiative to fund distributed solar projects

Infrastructure finance provider PTC India Financial Services (PFS) has partnered with U.S.-India Clean Energy Finance (USICEF) initiative to fund the most promising, investment-ready distributed solar projects in India.

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Financing key to scaling up SME rooftop solar in India — Deloitte

The Micro, Small and Medium Enterprises (MSME) sector is expected to make a significant contribution to India’s rooftop PV target of 40 GW by 2022. However, a range of issues — including low public awareness, the scarcity of low-cost financing and the need for rooftop aggregation models — must be addressed before rooftop solar can be aggressively scaled up, according to a new report from Deloitte and the Climate Investment Funds (CIF).

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