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Finance

ReNew raises $400 million by issuing green bonds

The developer shall use the amount raised to refinance existing debt and fund capital expenditure in renewable energy assets, among other uses. 

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Cabinet approves intrastate transmission scheme backing 20 GW of renewable energy capacity

The second phase of Green Energy Corridor (GEC) scheme for Intra-State Transmission System will facilitate grid integration and power evacuation of approximately 20 GW of renewable energy (RE) power projects in Gujarat, Himachal Pradesh, Karnataka, Kerala, Rajasthan, Tamil Nadu, and Uttar Pradesh.

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PV module price index: The price spiral winds up

The title of Martin Schachinger’s October market commentary was “Module prices set to rocket back to 2019 levels.” This month, he writes that prices have already reached December 2018 levels and notes that there is no reversal in sight. Prices for all module technologies have once again risen by an average of 3 percentage points since last month.

REC signs US$ 169.5 million loan agreement with KfW for innovative solar projects

This is the fifth credit line signed between REC Limited and KfW for the financing of power sector projects and the third credit line for the financing of renewable energy projects.

Building battery storage systems in India

Nexcharge, a joint venture of India’s largest lead-acid storage battery manufacturer, Exide Industries Limited, and Swiss Lithium-ion battery manufacturer Leclanché, has fully automated assembly lines of li-ion battery packs, modules, and cell testing labs in Gujarat. Ketan Chitnis, vice president-stationary BU, tells pv magazine the government’s PLI Scheme is a major incentive for attracting investment into Li-ion cell manufacturing.

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Solar remains energy of choice for lenders

In 2020, 74% of the value of the energy project loans (US$4,435 million) went to renewables (solar and wind) and 26% to coal. Solar PV accounted for 81% of renewable energy deals and 57% of all deals.

Over 90% of India’s solar and wind projects received investment-grade ratings in 2020

An analysis by the CEEW Centre for Energy Finance reveals that India’s renewable energy sector has made significant progress on the back of policies that have helped mitigate several risks for solar and wind project investors.

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American bank to lend $500 million for First Solar’s 3 GW fab in India

The debt finance from U.S. International Development Finance Corporation will support the thin-film solar manufacturer’s 3 GW/ annum module manufacturing facility coming up in Tamil Nadu.

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IREDA, BVFCL sign MoU on renewable energy and green hydrogen

The Indian Renewable Energy Development Agency Ltd (IREDA) shall provide its techno-financial expertise to help Brahmaputra Valley Fertilizer Corporation Limited develop renewable energy, green hydrogen, green ammonia, and energy efficiency and conservation projects.

The outlook for residential rooftop solar in India

After stagnant annual growth for a couple of years, the rooftop PV market is showing signs of improvement with the usual obstacles no longer so daunting.

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