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Finance

GP Eco Solar looks to raise INR 30-35 crore in IPO

GP Eco Solar will use the funds raised through the initial public offering (IPO) on NSE Emerge to fuel its growth in the solar sector. It will allocate around INR 12.45 crore for working capital and expansion, and invest INR 7.6 crore in subsidiary Invergy India for a new solar inverter assembly facility in Noida.

Enfinity Global secures $135 million for 1.2 GW of solar, wind power plants in India

US-based Enfinity Global has secured $135 million in long-term financing to advance the development of its 1.2 GW of solar and wind projects in India. The financing is being provided by Canada Pension Plan Investment Board

Adani Energy Solutions completes acquisition of Essar’s operational Mahan-Sipat transmission assets

Adani Energy Solutions Ltd (AESL) has acquired Essar’s operational Mahan-Sipat transmission assets for an enterprise value of INR 1,900 crore. This acquisition will add 673 ckt km, 400 kV inter-state transmission line, taking AESL’s cumulative network to more than 21,000 ckt km.

Climate-tech investment: Sustainable growth or looming bubble?

While the first quarter of 2024 has shown a significant and potentially transformative rise in climate-tech funding, the sustainability of this growth remains uncertain.

ReNew secures $1 billion from European bank Societe Generale

Societe Generale will provide up to $1 billion of debt finance and advisory solutions, over the next three years, to support the development of ReNew’s energy transition projects.

The Hydrogen Stream: India extends bidding for second round of electrolyzer incentives

Manufacturers now have until May 31 to submit bids for setting up electrolyzer manufacturing capacities in India under the second round of the government’s Strategic Interventions for Green Hydrogen Transition (SIGHT) program.

India to add more than 15 GW of renewable energy capacity annually in FY 2025 and FY 2026: India Ratings

India Ratings and Research expects India to maintain pace of renewables capacity addition owing to a significant drop in equipment prices, continued policy support, availability of liquidity, and investment plans of some of the large corporate players.

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AMPIN Energy secures $35 million from responsAbility

Swiss impact investor responsAbility’s $35 million investment will enable AMPIN Energy Transition to grow its renewable energy portfolio, primarily in commercial and industrial (C&I) solar across a wide spectrum of sectors in India.

Off-grid solar investment down by 43% globally in 2023

The Global Off-Grid Lighting Association (GOGLA) says total investment in the off-grid solar sector stood at $425 million in 2023, down 43% year on year. It says the industry needs to address a lack of early-stage financing to meet development and climate targets.

Tata Power reports record profit of INR 4,280 crore for FY 2024

Tata Power has recorded INR 61,542 crore of revenue and INR 4,280 crore net profit for the fiscal year ended March 31, 2024.