Finance

Jakson Green, a new energy platform backed by Jakson Group, will set up a 365,000 tons per annum green hydrogen and green ammonia plant in Rajasthan. It will develop the plant, along with an integrated hybrid renewable power complex, in phases with a cumulative investment of about INR 22,400 crore. 

The off-grid solar sector has shown resilience in the face of pandemic-related challenges, with 70 million people gaining access to electricity from early 2020 to the end of 2021. However, the ability to pay for solar energy kits has taken a hit.

The fifth assembly of the International Solar Alliance (ISA) approved Solar Facility, a payment guarantee mechanism to mitigate risks associated with solar projects in Africa.

EKI Energy will invest up to INR 200 crore ($25 million) as an anchor investor in the fund with a deep focus on community development projects across remote locations in India and select countries in Africa, Asia and LATAM.

Tata Power is looking to expand its renewable power portfolio in Rajasthan to 10 GW in the next five years, from around 5 GW at present. It will also set up solar manufacturing units in the state.

The growth of utility-scale solar PV in India is marred by several challenges such as availability of land, limited local manufacturing capacity, high transmission and distribution losses, grid integration, and other inefficiencies.

Orb Energy has raised a second loan of $20 million from US Development Finance Institution DFC. It will use these funds to extend further finance to SME customers of its rooftop and ground-mount solar systems.

The Indian solar manufacturer has raised INR 1,000 crore ($122.4 million) from various private investors to support its module capacity expansion to 9 GW and new cell line of 5.4 GW.

The investment will support Hero Future Energies in expanding its renewable energy capacity and capabilities across the solar, wind, battery storage, and green hydrogen technologies.

Mahindra Group has agreed to sell a 30% equity stake in Mahindra Susten to the Ontario Teachers’ Pension Plan for around $300 million. The two parties have also agreed to set up an infrastructure investment trust so Mahindra Susten can strengthen its solar, hybrid energy, and integrated storage businesses, as well as its round-the-clock green energy plants.