Finance

EESL India owned EPAL partnered with Leclanché to invest $12 million into first utility-scale storage project in Canada

The project will improve stability on Canada’s largest transmission grid by managing unbalanced supply-demand situations. Similarly, Indian PSUs owned EESL, through EPAL, will also be a part of $175 million investment in clean energy initiatives in the UK’s public and private sectors.

Azure Power announces results for fiscal second quarter 2018

As of September 30, 2017, Azure power has 1,381 MW operating & committed, an increase of 35% over September end 2016. Revenue for the second quarter was INR 1,823.8 million ($27.9 million), an increase of 104% over the quarter ended September 30, 2016. The company’s adjusted EBITDA for the quarter was INR 1,499.5 million (US$23.0 million), an increase of approximately 167% over the fiscal second quarter 2017.

Actis look at sale of Ostro Energy to ReNew Power

Ostro Energy acquisition by ReNew Power Ventures may rank among India’s biggest renewable energy deals.

Global Environment Facility along with ADB will provide $454 million funding to EESL clean energy projects

Energy Efficiency Services Limited EESL’s projects, under one of the largest funding by Global Environment Facility (GEF) to date, will mitigate 60 million tons of CO2 emissions. UN Environment’s ‘District Energy in Cities’ initiative already identified $600 million of energy efficiency projects across five cities in India.

EBRD to provide financial assistance to International Solar Alliance

International Solar Alliance (ISA) and the European Bank for Reconstruction and Development (EBRD) have signed the joint financial partnership declaration to support solar energy projects developed under ISA programs.

SBI announces loans worth INR 23.17 billion ($357 million) for rooftop solar in India

The State Bank of India (SBI) announces the deal at a press conference on financing grid-connected rooftop solar PV projects in association with World Bank held in Mumbai on October 30.

UK’s Green Investment enters India to fund development and acquisition of Solar assets.

Companies within Macquarie Infrastructure and Real Assets; Light source Renewable Energy and UK Climate Investments, part of the Green Investment fund enter into partnership platform to enter Indian Solar market for its development, acquisition and ownership of solar assets.

Shapoorji Pallonji may sell its stake in solar portfolio

Age-old conglomerate SP Group seeks new investors, realizing the pace in India’s green energy equity market.

Mytrah may delist from AIM prior to India IPO

Mytrah Energy might cancel its listing on the Alternative Investment Market (AIM) in London before launching its tentatively planned initial public offering (IPO) in India, according to a recent report.

Equis Energy snapped up by GIP in record $5bn renewables deal

The Singapore-based renewable energy developer has agreed to be sold to investment fund Global Infrastructure Partners. China Investment Corp, Canada’s PSP Investments and other co-investors are also involved in the deal, which is the largest yet seen for the renewable energy industry.

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