Finance

The development lender’s private-sector arm helped Indian commercial clean power company Continuum Green Energy raise $561 million to refinance its debts through the bond, on the Singapore exchange.

The state electricity regulator has passed the order in Gujarat Urja Vikas Nigam Ltd’s favor, allowing it to retender the 700 MW capacity to seek lower tariffs than the INR 2.78-2.81/kWh levels awarded to developers. Developers’ body says the move will impact investors’ sentiment as arranging finance starts soon after developers win a capacity.

India’s Ministry of New and Renewable Energy is funding the research to develop high-efficiency crystalline silicon solar cells, including those with passivated emitter and rear contact structure, and perovskites. 

The renewable energy infrastructure investment trust (InvIT) proposed to be launched by KKR-backed Virescent Infrastructure aims to achieve approximately 1.5 GW of assets in the next three years. Its initial portfolio will comprise nine solar energy projects with an aggregate capacity of about 400 MWp. 

Under a production-linked incentive scheme, the government will reward manufacturers for building vertically integrated PV production lines. The scheme aims to attract 10 GW of production capacity by April 2023.

India is set to see the largest increase in energy demand of any country over next 20 years, a new International Energy Agency (IEA) report says, highlighting potential for policies and investment to accelerate clean energy transition.

A new report suggests that the State shut down 3.1 GW of old coal plants and replace the lost generation with renewables. It also advocates switching from expensive power (tariffs > INR 4/kWh) to renewable energy (which now costs INR 3/kWh or less) and halting the construction of new coal plants.

The Indian multinational has acquired a 51% stake in Brazilian company Fasttel Engenharia Ltd that specializes in engineering, procurement and construction (EPC) of power transmission, substation and distribution services.

Imported solar inverters and lanterns will get costlier, as the union budget for the next fiscal year has proposed customs duty increases from 5%, for both items, to 20% and 15%, respectively. The budget, which also incentivizes Indian manufacturing of solar project components whilst giving a helping hand to raw materials, makes no mention of solar cells or panels.

pv magazine has taken part in a webinar examining the thorny issue of financing clean energy generation in developing markets.