Finance

AmpIn Energy Transition plans to invest INR 3,100 crore ($372 million) in setting up about 600 MW+ of renewable energy projects in Eastern India and an integrated 1.3 GW solar cells and modules manufacturing facility in Odisha state of the region. 

Indian Renewable Energy Development Agency Ltd is looking to raise up to INR 2,150.21 crore from its initial public offering (IPO) of 671,941,177 equity shares.

Gensol Engineering Ltd recorded a revenue of INR 344.03 crore ($41.3 million) in H1 FY24, 88% up from INR 183.25 crore in H1 FY23. Profit after tax (PAT) grew 24% to INR 22.16 crore.

Indian PV manufacturer Alpex Solar aims 2.5-fold growth to reach INR 1,000 crore revenue in FY 2026.

Will a redeployable solar and energy storage solution be the answer to unreliable grid electricity across much of Africa, as its developer proposes? Or will it merely be a temporary solution that will see cash-strapped utilities kick the can of universal energy access further down the road?

RK Singh, India’s power minister and president of International Solar Alliance, highlighted the need for investment and research in alternative chemistries for energy storage and in building manufacturing capacities.

Radiance Renewables has become the first commercial & industrial (C&I) renewable energy player in India to secure a green loan project finance facility with $90 million jointly arranged by Axis Bank and Standard Chartered Bank. It will use the funds to develop its 150 MW commercial & industrial (C&I) solar project in Maharashtra.

China and the USA have been consistently attracting the most annual solar investments. Together, these have received about 50% of all solar investments since 2015, according to a new report released by the International Solar Alliance at its sixth assembly in New Delhi.

The International Renewable Energy Agency said in a recent report that the scale of the energy transition needs ‘urgent’ acceleration to meet Paris Agreement climate emergency targets. Solar PV deployment, in particular, must ramp up and increase fourfold by the end of the decade.

The Assembly has decided to increase the viability gap funding for solar projects in member countries from 10% of the project cost to up to 35%, depending on the capacity and needs of the countries and their respective projects.