ReNew secures $1 billion loan for 1.3 GW renewables project
ReNew Power, a Nasdaq-listed Indian developer, has secured $1 billion in external commercial borrowings for a 1.3 GW wind-solar energy project, backed by up to 100 MWh of battery storage. The project is co-owned by Japanese investor Mitsui and will supply round-the-clock power under a 25-year power purchase agreement.
The long read: Putting solar capital to work
Venture capital investment in solar and energy storage companies in sub-Saharan Africa brings with it considerable risk, but also holds the promise of making an outsized impact in delivering clean energy access. KawiSafi Ventures Managing Director Amar Inamdar says that venture capital investment in frontier markets will be a key part of the “capital stack” required to pursue the joint goals of leapfrogging fossil fuel energy development in the continent and lighting up African lives.
Reliance, Ola, Rajesh Exports sign agreement to make batteries under PLI Scheme
The three companies will receive incentives under the government’s production-linked incentives scheme for battery storage. The scheme has an overall budgetary outlay of INR 18,100 crore (around US$ 2,284 million).
India has installed more than 57.7 GW of solar
The nation reached a cumulative 57.7 GW of solar power generation capacity by June 30, 2022. Rajasthan (14.4 GW), Gujarat (7.8 GW), and Karnataka (7.6 GW) top in PV installations.
India must ensure climate finance for cleantech startups
A new report looks at the current status of climate finance for cleantech startups in India. It highlights the opportunities and challenges and presents potential solutions to accelerate climate tech finance in the country.
Solar power costs continued to fall in 2021, despite rising panel prices
The average global price of solar kilowatt-hours fell 13% on 2020’s prices, as around two-thirds of the renewables capacity installed last year was cheaper than the lowest-cost fossil fuel alternative.
Israel, USA, UAE to support 300 MW wind-solar-storage project in Gujarat
The United States and Israel have the opportunity to provide clean energy solutions for the 300 MW wind-solar project complemented by a battery energy storage system. United Arab Emirates-based companies will explore participation as knowledge and investment partner.
ReNew refinances dollar-denominated bonds worth $525 million
The Indian renewable energy developer has refinanced its dollar-denominated bonds worth $525 million ahead of their maturity in 2024. The refinancing has slashed the interest cost by 200 basis points and pushed the maturity to the end of the fiscal year 2027.
Aerem raises $2.5 million for its solar financing platform
The MSME solar financing platform will use the funds to grow its loan book, enhance the technology platform, and expand its team.
Tata Power commits INR 75,000 crore to renewables
Tata Power will invest more than INR 75,000 crore ($9.4 million) by the 2026-27 period to scale up its green businesses, including renewable energy generation and solar manufacturing.
