Finance

Electric vehicle (EV) and component manufacturers seek a uniform 5% goods and service tax (GST) for all EV spare parts. They also want the scrapping of import duty on lithium-ion battery cells and policy support for battery recycling.

The shift to a low-carbon economy offers both a significant opportunity and a tremendous challenge.

The State-controlled renewable energy and energy efficiency lender has sanctioned its highest loan amount to SJVN Green Energy for development of 1 GW solar project in Rajasthan.

The carmaker will invest around INR 10,000 crore ($1.21 billion) over a period of 7-8 years to set up the manufacturing facility for its upcoming Born Electric Vehicles.

The Mumbai-headquartered lithium battery manufacturer plans working capital finance of INR 35 crore and equity investment of INR 15 crore to increase production capacity and fulfil orders from large OEMs.

National Investment and Infrastructure Fund Ltd (NIIFL) will support Tamil Nadu Infrastructure Development Board in identifying potential private-sector investment opportunities in various sectors including renewable energy. 

The Swiss investment manager will invest up to $400 million to transform Sunsure into a next-generation independent power producer. The platform targets 3 GW of capacity from Partners Group’s equity commitment.

The renewable energy sector (solar and wind) recorded project finance deals worth INR 33,893 crore ($4,598 million) in 2021. No new project finance for coal was reported.  

The Indian multinational EPC provider has successfully closed a three-year $107 million sustainability-linked loan with Sumitomo Mitsui Banking Corp.

The developer has refinanced its 350 MW of solar projects with a long-tenor debt facility of $200 million.