Mobilizing green finance for Indian MSMEs
In the absence of immediate viable financial solutions, MEMEs (micro, small and medium enterprises) need government intervention to get sustainable debt at a reasonable rate. A way forward could be a green finance platform for MSMEs.
Applications open for incentives under second phase of solar PLI Scheme
The Solar Energy Corp. of India Ltd (SECI) has started accepting applications from solar manufacturers under the second phase of the Production Linked Incentive (PLI) Scheme with an outlay of INR 19,500 crore ($2.4 billion).
Edelweiss energy InvIT raises $282 million
Edelweiss’ energy infrastructure investment trust, AnZen, will invest in a diversified portfolio of energy assets including transmission lines and renewable power projects to provide long-term predictable yield and growth to its investors.
ReNew Power to build $8 billion green hydrogen plant in Egypt
Developer ReNew Power has signed an agreement with the Egyptian Government to establish a green hydrogen plant in the Suez Canal Economic Zone. The $8 billion project will produce 220,000 tons of green hydrogen per year.
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.
