Finance

Onix Renewable said it intends to use the proceeds from the issue to finance its renewable power projects and scale up solar module production capacity to 1.2 GW.

Wood Mackenzie says the levelized cost of electricity (LCOE) in the Asia-Pacific region hit an all-time low in 2023, as utility-scale PV beat coal to become the cheapest power source. It predicts a further drop in costs for new-build solar projects, driven by falling module prices and oversupply from China.

Fitch Ratings has assigned Adani Green Energy Ltd Restricted Group 1’s proposed $409 million senior secured notes due 2042 an expected rating of ‘BBB-(EXP)’ with a stable outlook.

India has witnessed a surge in solar and wind energy projects, backed by investments from both domestic and international sources. Green finance plays a pivotal role in funding these projects.

ReNew reported a total income of $870 million and net profit of $43 million in the first nine months of FY 2024.

The investment is required in building capacities across solar, hydro, wind, and waste-to-energy sectors, green hydrogen (including electrolyzers), batteries, and transmission.

The PM Surya Ghar Muft Bijli Yojana offers a subsidy of INR 30,000 ($361) per kW up to 2 kW for residential rooftop solar systems, and INR 18,000 per kW for additional capacity up to 3 kW. The total subsidy for systems larger than 3 kW is capped at INR 78,000.

Siemens Ltd has reported strong double-digit profitable revenue growth across businesses for the first quarter of financial year 2024 ended Dec. 31, 2023.

Tata Power’s profit after tax for the third quarter (Oct-Nov-Dec. period) of FY 2024 grew to INR 1,076 crore compared to INR 1,052 crore in Q3 FY 2023.

Investors and developers raised more than $34.3 billion in 160 deals last year, according to a new report by Mercom Capital.