Serentica Renewables secures INR 2,600 crore in debt funding from PFC
The funding from PFC will go towards the development of Serentica’s upcoming 400 MW hybrid wind-solar power projects in Karnataka.
Tata Power, SIDBI sign MoU on easy finance for MSME solar
Micro, small, and medium enterprises (MSMEs) can avail SIDBI loans at low interest rates to fund rooftop solar PV plants or associated services from Tata Power or its authorized channel partners across India.
DFC approves $425 million for Tata Power’s 4.3 GW solar cell and module fab
Tata Power’s greenfield 4.3 GW solar cell and module manufacturing plant in Tamil Nadu is expected to start PV module production by the year end.
India, USA to set up $1 billion renewable infrastructure investment fund
India’s National Investment and Infrastructure Fund and the U.S. Development Finance Corp. will provide up to $500 million each to anchor a $1 billion fund to support the deployment of renewable energy projects in India.
G20 to pursue tripling of renewable energy capacity globally by 2030
The leaders of G20 nations noted the climate finance requirements of developing countries. They agreed to work towards facilitating low-cost finance for energy transition in developing nations.
The importance of solar mini-grids in universalizing energy access
As solar energy becomes the most cost-effective form of energy generation in many countries, with clear climate, energy, and economic benefits, its acceptance and political support are growing. To enhance resilience and sustainability, strategies that incorporate a diverse energy mix, combining centralized and distributed renewable generation, are most effective, especially in underserved nations.
Cabinet approves viability gap funding scheme for battery storage development
Through the viability gap funding (VGF) scheme, the Indian government targets the development of 4 GWh of battery energy storage systems (BESS) by 2030-31. The selection of BESS developers for VGF grants will be carried out through a transparent, competitive bidding process.
REC raises $1.15 billion in syndicated term loans in August
The state-owned power finance company will utilize the proceeds to fund power, infrastructure, and logistics sector projects.
Government considering viability gap funding, ALMM mandate for battery storage projects
The Indian government is considering financial incentives such as viability gap funding and green finance to encourage the adoption of energy storage systems in the country. It may also issue an Approved List of Models and Manufacturers (ALMM) mandate for battery storage systems for power sector applications.
IREDA, IIFCL team up to finance renewable energy projects
Indian Renewable Energy Development Agency Ltd (IREDA) and India Infrastructure Finance Co. Ltd (IIFCL) will engage in co-lending and loan syndication for all categories of renewable energy projects.
