Union Bank of India, Tata Power partner on low-cost finance for MSME rooftop solar
Union Bank of India will provide a low-cost loan with nil or minimum collateral to finance MSME rooftop PV projects executed by Tata Power Solar.
Waaree Renewable posts 864% Y-o-Y growth in H1 net profit
The company reported a net profit after tax of INR 18.08 crore ($2.23 million) in the half year ended September 30, 2022, an 864% growth over INR 1.88 crore recorded during the same period in the previous year.
HEG unveils plans to build $247 million Li-ion anode plant
The LNJ Bhilwara group company is venturing into the production of graphite anode for lithium-ion batteries. It expects the first part capacity of its Li-ion anode plant to become operational by 2025 with an investment of INR 1,000 crore ($124 million).
NHPC records its highest-ever half-yearly net profit
The state-owned hydropower producer, which has also diversified into the field of solar and wind power, has reported a net profit of INR 2,483 crore ($307 million) for the half-year ended Sept 30, 2022–a 12% jump year-on-year.
GEAPP, ISA sign $10 million grant agreement to boost solar deployment
The Global Energy Alliance for People and Planet (GEAPP) has signed a $10 million grant agreement with the International Solar Alliance (ISA) to boost the deployment of solar energy in developing countries.
India saved $4.2 billion in fossil fuel costs due to solar generation in H1
A new report says solar generation helped seven Asian countries avoid $34 billion in fossil fuel costs in the first half of 2022. The majority of these savings were in China ($21 billion). Japan avoided $5.6 billion in fossil fuel costs and India saved $4.2 billion.
Solar dominates renewable corporate PPAs in Asia Pacific, says WoodMac
Corporations in the Asia-Pacific region are set to contract a record 7 GW of renewable capacity in 2022, according to a new report by Wood Mackenzie. Solar accounts for 57% of the region’s contracted corporate renewable power purchase agreements (PPAs) to date. India, Australia and Taiwan account for 89% of overall capacity in the region.
State Bank of India signs €150 million solar loan agreement with Germany’s KfW
The State Bank of India (SBI) has signed the agreement with KfW Development Bank for availing a second low-interest loan of €150 million. It will use the amount to finance solar farms with outputs between 50 and 250 MW.
Serentica Renewables secures $400 million from US investor KKR
Currently, Serentica Renewables is developing 1.5 GW of solar and wind power projects for energy-intensive industries in India. Over the medium-term, it aims to install 5 GW of clean energy capacity, coupled with different storage technologies. The investment from KKR will support its industrial decarbonization projects.
India needs $300 billion to meet 2030 target of 500 GW non-fossil energy capacity
A new report by Arthur D. Little presents an integrated blueprint for India to achieve its true potential in the power sector with a focus on renewables.
