Finance

EIB to sign clean energy loan with India, prior to ISA founding ceremony

The European Investment Bank (EIB) today said it will ink an agreement tomorrow, Saturday, March 10, to provide a loan for both small- and large-scale clean energy projects in India, which will form part of its €800 million (around US$984 million) investment in the country.

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NLC India issues tenders for Andaman storage project, $394 million in finance for 709 MW Tamil Nadu PV project

Neyveli Lignite Corporation India Ltd (NLCIL) has re-tendered the 2 x 10 MW grid-connected solar PV power project with the reduced 8 MWh battery energy storage capacity. It has also invited bids to lend INR 25.52 billion ($394 million) in finance required for the proposed 709 MW solar project in Tamil Nadu state.

GCF grants $100 million to NABARD for rooftop solar in India

Green Climate Fund (GCF) has approved the National Bank for Agriculture and Rural Development (NABARD)’s proposal of Line of credit for solar rooftop segment for commercial, industrial and residential housing sectors in India. This is the first ever project in India approved by GCF.

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EESL to invest more than US$500 million in Andhra Pradesh in four clean energy projects

MoUs for four projects were signed at CII Partnership Summit 2018, held in Andhra Pradesh are valued at more than US$ 500 million and are expected to create jobs, alongside bringing in revenue and saving money.

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Adani to build 1 GW+ renewable energy in Andhra Pradesh

Adani Group has signed a MoU with Andhra Pradesh government for the development of more than 1 GW of renewable energy in the state.

Avaada Power to develop 1.6 GW of solar in Uttar Pradesh

Avaada Power Pvt Ltd has committed US$1.55 billion to develop solar PV projects in the state of Uttar Pradesh.

Rockefeller Foundation, Ckers Finance partner to develop India’s decentralized renewable energy sector

U.S.-based Rockefeller Foundation has partnered with cKers Finance, a New-Delhi based finance company, to help develop the decentralized renewable energy (DRE) sector in India. cKers will invest $50 million across DRE and sustainable energy portfolio in the near term.

India’s Sterling and Wilson to build 54.3 MW solar plant in Zambia

The PV plant will be the nation’s largest once complete, and will be implemented under the International Finance Corporation’s Scaling Solar program.

Azure Power announces results for fiscal third quarter 2018

As of December 31, 2017, Azure power has 1,580 MW operating & committed capacity, an increase of 48% over December end 2016. Revenue for the third quarter was INR 1,739.9 million ($27.3 million), an increase of 83% over the quarter ended December 31, 2016. The company’s adjusted EBITDA for the quarter was INR 1,226.9 million (US$19.2 million), an increase of approximately 76% over the fiscal third quarter 2017.

Budget 2018-19 – What’s in there for solar?

India’s budget disappoints a solar industry still hungry for clarity on duties, tariffs and additional support. Here is a breakdown of the budget’s main points, with reaction from industry.

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