Leaders from 116 countries to attend the 6th Assembly of International Solar Alliance in New Delhi
The Sixth Assembly of the International Solar Alliance will focus on universalizing energy access through solar mini-grids, mobilizing finance for accelerated solar deployment, and diversifying supply chains and manufacturing for solar.
Avaada secures $1.8 billion REC finance for green ammonia project
Avaada has signed a memorandum of understanding with REC Ltd for $1.8 billion green ammonia project financing.
REC commits over $3.7 billion for Acme, Avaada green hydrogen projects in Odisha
REC Ltd will provide debt funding totaling INR 31,000 crore (over $3.7 billion) to support two green hydrogen projects in Odisha. This includes INR 16,000 crore to Acme Group and INR 15,000 crore to Avaada.
India’s steel, cement plants need $627 billion to go net zero
A CEEW study calculates the cost of decarbonizing the steel and cement production plants in India. It also finds carbon capture and storage, if successfully scaled up, could abate 56% of emissions from the steel industry.
India’s emergence as a credible option in renewables supply chain
Clean technology and ancillary equipment offer a cumulative $300-400 billion sales opportunity for Indian manufacturers within this decade, according to a new report by KPMG that says India has the potential to emerge as an alternative in the renewable energy supply chain.
NIIFL launches $600 million bilateral India-Japan Fund
The India-Japan Fund will actively invest in India’s environmental preservation sector, including renewable energy and e-mobility businesses.
Brookfield, Axis form second JV to develop renewable energy projects
Brookfield and Axis Energy Ventures had earlier formed a joint venture platform ABC Renewables to develop renewable energy projects. The latest JV will have up to $845 million of equity investment by Brookfield.
Serentica secures INR 3,000 crore from REC
The debt funding from REC will support Serentica in developing its 560 MW of wind and solar capacities in the state of Karnataka.
Uttar Pradesh targets 30,000 solar pump installations under PM KUSUM this fiscal
The state and the central government will provide cumulative financial support of INR 434 crore ($52.2 million) for the installation of 30,000 solar pumps across the state.
SJVN to get PFC loan for 70% of over $14.2 billion renewables, thermal projects
SJVN is setting up renewable energy, thermal power and other projects at a total cost of about INR 118,826 crore ($14,276 million). The MoU with PFC will allow it term loan financial assistance at around 70% of the project cost.
