Husk Power secures $750,000 to expand solar microgrid business in Nigeria and India
Bihar-based Husk Power Systems has secured $750,000 in debt to build eight new community solar microgrids in Nigeria and expand operations in India.
EV manufacturers’ wishlist for Union Budget 2023–24
Electric vehicle (EV) and component manufacturers seek a uniform 5% goods and service tax (GST) for all EV spare parts. They also want the scrapping of import duty on lithium-ion battery cells and policy support for battery recycling.
Making the switch to a low-carbon economy
The shift to a low-carbon economy offers both a significant opportunity and a tremendous challenge.
IREDA approves INR 4,445 crore loan to SJVN’s 1 GW solar project
The State-controlled renewable energy and energy efficiency lender has sanctioned its highest loan amount to SJVN Green Energy for development of 1 GW solar project in Rajasthan.
Mahindra to set up INR 10,000-crore EV plant in Pune
The carmaker will invest around INR 10,000 crore ($1.21 billion) over a period of 7-8 years to set up the manufacturing facility for its upcoming Born Electric Vehicles.
Neuron Energy to invest INR 50 crore in lithium battery pack business
The Mumbai-headquartered lithium battery manufacturer plans working capital finance of INR 35 crore and equity investment of INR 15 crore to increase production capacity and fulfil orders from large OEMs.
NIIFL signs MoU on renewable energy projects in Tamil Nadu
National Investment and Infrastructure Fund Ltd (NIIFL) will support Tamil Nadu Infrastructure Development Board in identifying potential private-sector investment opportunities in various sectors including renewable energy.
Partners Group to acquire Sunsure Energy
The Swiss investment manager will invest up to $400 million to transform Sunsure into a next-generation independent power producer. The platform targets 3 GW of capacity from Partners Group’s equity commitment.
No funding for new coal in 2021
The renewable energy sector (solar and wind) recorded project finance deals worth INR 33,893 crore ($4,598 million) in 2021. No new project finance for coal was reported.
L&T closes $107 million sustainability-linked loan
The Indian multinational EPC provider has successfully closed a three-year $107 million sustainability-linked loan with Sumitomo Mitsui Banking Corp.
