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Finance

Foreign investors tapping into India’s solar market undeterred by untimely payments

Full ownership allowed in renewable energy projects and 25-year power purchase agreement are the major factors drawing foreign investors to India’s high-growth solar market. Major developers in India have solar portfolio distributed across States, which further minimizes the risk for investors.

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Canada’s OMERS Infrastructure to buy 19.4% stake in Azure Power

The transaction expands Canadian pension plan’s investment in clean energy, consistent with its long-term strategy to increase footprint in this growing sector.

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Amp Energy India raises US$ 100 million from Danish investor

Copenhagen Infrastructure Partners and Amp Energy have signed a US$200 million investment pact with each partner committing to $100 million. The investment will allow Amp Energy to add 1.7 GWp of utility-scale and commercial and industrial renewable energy projects.

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ACME Solar raises $334 million via offshore green bonds

The Indian developer has a cumulative 4.8 GWp solar portfolio, including 2.2 GWp operational and another 2.6 GWp under-construction projects. It will use the proceeds from the green bonds to finance twelve of its solar assets in India. 

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IFC makes $126 million equity investment in India’s Federal Bank

The equity investment is expected to see Federal Bank increase the financing for green projects including energy efficiency, renewable energy, climate-smart agriculture, green buildings, and waste management.

Financial feasibility of behind-the-meter solar-plus-storage in India

A new report says solar-plus-energy storage will become an attractive investment option for commercial consumers in India as early as 2023 for electricity bill reduction. For high-tariff paying residential consumers, the system will reach grid parity post-2027. The report findings are based on the levelized cost analysis of solar-plus-energy storage systems for consumers in the Indian State of Tamil Nadu.  

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Solar manufacturers warn of 12-18 months disruption for standalone products

Potential price rises of 14% for the solar home systems that are driving access to electricity in the world’s under-served regions could signal further arrested progress towards the UN goal of universal access by 2030.

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MYSUN secures INR 15 crore for rooftop solar expansion

The rooftop solar solutions provider will utilize the funds for its existing and new pipeline of distributed PV projects under its asset vehicle MYSUN+.

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AIIB approves US$50 million for Enel Green’s 300 MW solar project 

Italy’s Enel Green Power is developing the solar project in the Bikaner district of Rajasthan. The total project cost is approximately US$200 million.

India’s renewable energy subsidies fell nearly 45% since their FY 2017 peak

A new report finds that renewable energy subsidies in India fell by 45% from INR 15,470 crore (US$2074 million) in the fiscal year (FY) 2017 to INR 8,577 crore (US$1150 million) in FY 2020.