Finance

Bringing together private and public capital in a risk-adjusted return structure, is key to scaling up financing for renewable energy assets such as solar mini-grids, says a new report.

Gensol Engineering, a solar EPC and electric mobility solutions provider, has raised INR 900 crore ($108.46 million) equity capital from international and domestic investors.

Tata Power Solar ties up with 20+ leading financial institutions, financing up to 85% of the addressable order book. It has facilitated solar financing for over 2,200 commercial and industrial customers till date.

Finance minister Nirmala Sitharaman today tabled the interim budget for FY 2024-25 in the parliament. Budget highlights include announcements about the residential rooftop solarization scheme, viability gap funding for offshore wind, and government support for EV manufacturing and charging infrastructure.

Dedicated funds for residential rooftop solar under ‘Pradhan Mantri Suryodaya Yojana’ and increased incentives for solar manufacturing MSMEs are on the wishlist of the Indian solar sector. In battery storage, players expect the inclusion of battery recycling within the PLI Scheme and continued investments in developing battery storage solutions.

Cleantech Solar has secured a long-term senior secured loan facility worth INR 6.25 billion (over $75.2 million) from Tata Capital Ltd to advance its open-access projects in India.

NTPC Green Energy Ltd (NGEL) will develop a green hydrogen to green ammonia project with a capacity of up to one million tonne per annum (mtpa) in Maharashtra.

Adani Green Energy Ltd has reported a consolidated net profit of INR 950 crore (around $114.28 million) for the first nine months of FY 2024, which is 104% up year-on-year. Revenue from operations was up 57% YoY to INR 5,794 crore.

NTPC Green Energy, ReNew, Avaada, JSW Energy, Welspun Godavari GH2, INOX Air Products, and Larsen & Toubro Green Energy have committed huge investments in setting up green hydrogen production capacities in the Indian state of Maharashtra.

Adani Green Energy Ltd has concluded funding of the entire $750 million Holdco Bond redemption with the receipt of $281 million through promoter preferential allotment. Other sources of funds include $300 million from TotalEnergies JV proceeds and $169 million from debt service reserve account, hedge reserves, and interest on reserve account.