Finance

India is seeing record demand for rooftop solar both from residential and industrial consumers. While the recently announced Pradhan Mantri Suryodaya Yojana (PMSY) Scheme is driving adoption among residential consumers, industries seek to add clean energy to meet climate goals amid falling panel prices.

AMPIN Energy Transition has secured long-term financing of EUR 25 million to support the growth of its renewable energy portfolio and establish a solar cell and module production facility in India.

Husk Power will use the fund for the construction of community solar minigrids in Nigeria, installation of rooftop solar for commercial & industrial (C&I) customers, expansion of appliance sales to households and small businesses, and the scaling of value-added services such as agro-processing and e-mobility.

Under the National Green Hydrogen Mission, at least two green hydrogen hubs will be set up by FY 2025-26 with central financial assistance of INR 200 crore for creating the core infrastructure. Each of the hubs will have a production capacity of at least 100,000 mtpa.

Rating agency ICRA expects the penetration levels of electric two-wheelers and electric three-wheelers (excluding e-rickshaws) to reach 6-8% and 14-16%, respectively, by FY 2025.

Green Climate Fund (GCF) has approved a $24.5 million investment in Avaana Capital’s Climate and Sustainability Fund for technology-driven climate solutions.

The state government stated that more than 100,000 people have been registered on the portal under the PM Suryaghar Yojana for residential rooftop solar systems in the state so far.

GP Eco Solutions intends to utilize INR 12.45 crore of the IPO proceeds to meet its working capital requirements and invest INR 7.6 crore in its subsidiary Invergy India to procure plant and machinery and set up a new facility.

While the Strategic Interventions for Green Hydrogen Transition (SIGHT) programme is a vital first step, it can be finetuned to generate interest among start-ups and global players.

Matrix Gas & Renewables stated the capital raise will accelerate its green hydrogen production projects and hydrogen electrolyzer manufacturing plant, in addition to advancing the company’s growth in the gas aggregation business.