Finance

India-World Bank signs $100 million loan agreement for Solar Parks

India signs loan agreement with the World Bank for $100 million for large-scale solar power projects named as “Shared Infrastructure for Solar Parks Project”.

Climate Policy Initiative presents financial solutions for rooftop solar in India

CPI has summarized the present rooftop sector of India, its economics, and the financial facilities to the industry from government and banks. The analyst and advisory firm has presented the solutions for the current financial obstacles to the growth of rooftop solar. The team has advised two Indo-U.S. collaborative initiatives, USICEF and USICFP, with which these solutions can be implemented.

Greenko competing with Renew Power to acquire SkyPower

Greenko and Renew Power both companies are in talks with Canadian developer SkyPower to buy its stake in Indian solar projects.

ISA presents risk mitigation feasibility study for pilot 20 GW capacity

The International Solar Alliance (ISA) presents its first offering, a Common Risk Mitigation Mechanism (CRMM) feasibility study, at COP23 in Bonn, Germany, to deepen solar markets, which aims to mobilize up to $1trn of capital investment by 2030.

EESL India owned EPAL partnered with Leclanché to invest $12 million into first utility-scale storage project in Canada

The project will improve stability on Canada’s largest transmission grid by managing unbalanced supply-demand situations. Similarly, Indian PSUs owned EESL, through EPAL, will also be a part of $175 million investment in clean energy initiatives in the UK’s public and private sectors.

Azure Power announces results for fiscal second quarter 2018

As of September 30, 2017, Azure power has 1,381 MW operating & committed, an increase of 35% over September end 2016. Revenue for the second quarter was INR 1,823.8 million ($27.9 million), an increase of 104% over the quarter ended September 30, 2016. The company’s adjusted EBITDA for the quarter was INR 1,499.5 million (US$23.0 million), an increase of approximately 167% over the fiscal second quarter 2017.

Actis look at sale of Ostro Energy to ReNew Power

Ostro Energy acquisition by ReNew Power Ventures may rank among India’s biggest renewable energy deals.

Global Environment Facility along with ADB will provide $454 million funding to EESL clean energy projects

Energy Efficiency Services Limited EESL’s projects, under one of the largest funding by Global Environment Facility (GEF) to date, will mitigate 60 million tons of CO2 emissions. UN Environment’s ‘District Energy in Cities’ initiative already identified $600 million of energy efficiency projects across five cities in India.

EBRD to provide financial assistance to International Solar Alliance

International Solar Alliance (ISA) and the European Bank for Reconstruction and Development (EBRD) have signed the joint financial partnership declaration to support solar energy projects developed under ISA programs.

SBI announces loans worth INR 23.17 billion ($357 million) for rooftop solar in India

The State Bank of India (SBI) announces the deal at a press conference on financing grid-connected rooftop solar PV projects in association with World Bank held in Mumbai on October 30.

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