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Finance

India calls for credit guarantee fund to drive solar adoption in electricity-deprived regions globally

RK Singh, India’s power minister, and president of the International Solar Alliance (ISA) Assembly, called on nations to support solar investments in developing and under-developed regions, including Africa, through low-cost finance and credit guarantee fund.

BlackRock, Mubadala to invest in Tata Power Renewables

Tata Power has raised INR 4,000 crore (US$ 525 million) from a consortium led by the world’s largest fund manager BlackRock Real Assets and Abu Dhabi sovereign wealth fund Mubadala Investment Company to fund the growth of its renewable energy business.

Abu Dhabi’s International Holding Company to invest US$ 2 billion in Adani Group’s green portfolio

Abu Dhabi-based International Holding Company (IHC) has signed the agreement to invest US$ 500 million in Adani Green Energy Ltd, US$ 500 million in Adani Transmission Ltd, and US$ 1 billion in Adani Enterprises Ltd.

Rajasthan emerging as a solar hub

Rajasthan, which has already surpassed the 10GW milestone of installed PV capacity, has mopped up commitments for over INR 8 lakh crore of investment in the State’s energy sector alone.

AC Energy to invest in PV in Bangladesh

AC Energy has revealed plans to invest in solar projects throughout Asia, including Bangladesh, by forming a joint venture with Germany’s ib vogt GmbH.

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IREDA to lend INR 268 crore to BluSmart Mobility

The integrated EV ride-hailing and charging company will use the amount to purchase 3,000 all-electric cars.

British International Investment commits US$89 million to scale renewable energy generation in India

The UK investor (formerly known as CDC Group) has committed a $47 million follow-on investment in Fourth Partner Energy to build 294MW of greenfield renewable power capacity. Another $42 million will go to Italian power utility Enel’s India arm Thar Surya 1, to support the development of a 300MW greenfield solar project in India.

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World will need 5.2TW of solar this decade to avoid climate breakdown

The International Renewable Energy Agency’s latest global outlook has spelled out just how ‘woefully’ far the world is from capping temperature rises at 1.5C, and lamented: ‘The stimulus and recovery efforts associated with the pandemic have also proved a missed opportunity.’

Tata Power and Social Alpha launch net-zero accelerator program for industries

The ‘Net-Zero Industry Accelerator’ program will prioritize industries with the highest carbon footprints and assure a robust ecosystem to support a new generation of entrepreneurs as they take disruptive climate-tech innovations for industrial decarbonization from the lab to market. 

Ola, Hyundai, Reliance and Rajesh Exports emerge winners in 50GWh battery cell tender under PLI Scheme

Those put under the waiting list include Mahindra & Mahindra Limited, Exide Industries Limited, Larsen & Toubro Limited, Amara Raja Batteries Limited, and India Power Corporation Limited.

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