Adani Green completes funding of the reserves for the $750 million Holdco
Adani Green Energy Ltd has concluded funding of the entire $750 million Holdco Bond redemption with the receipt of $281 million through promoter preferential allotment. Other sources of funds include $300 million from TotalEnergies JV proceeds and $169 million from debt service reserve account, hedge reserves, and interest on reserve account.
REC Ltd, NIIF collaborate on funding solutions for renewable energy projects
REC Ltd has signed a Memorandum of Understanding (MoU) with the National Investment and Infrastructure Fund Ltd to collaborate on funding solutions for renewable energy projects.
ICRA maintains Stable outlook for renewable energy sector
Ratings agency ICRA has maintained a stable outlook for the renewable energy sector in India on the back of strong policy support, healthy demand prospects, superior tariff competitiveness among other positive factors.
Cleantech Solar appoints Ritesh Singhi as country manager-India
Ritesh Singhi joins Cleantech Solar from Ampin Energy Transition, where he served as chief operating officer for the commercial and industrial segment.
WoodMac predicts strong yet flat global PV growth through to 2032
Wood Mackenzie says the solar industry has reached a new stage in its evolution and is predicting around 350 GW of global solar installations annually for the next eight years. The research firm is also forecasting challenges for the solar manufacturing sector and long-awaited benefits from the Inflation Reduction Act in the United States.
ACME and Japan’s IHI sign pact to supply green ammonia from India to Japan
ACME Group has signed an offtake agreement with Japan’s IHI Corp. for its green ammonia project in Odisha. The pact covers the supply of 0.4 mmtpa (million metric tons per annum) of green ammonia from Phase-1 of Acme’s Gopalpur project on a long-term basis.
AM Green ties up with Envision Energy for wind turbines, green hydrogen
Greenko founders-owned AM Green will partner with Chinese multinational Envision Energy to manufacture wind turbines in India for green energy projects of AM Green and its customers. The two companies will also collaborate on net-zero industrial parks and green hydrogen projects in India and globally.
SAEL secures $1 billion for solar, biomass projects
Solar and waste-to-energy producer SAEL has secured $1 billion from financial institutions including Norfund, DFC, Asian Development Bank (ADB), and Tata Cleantech.
Govt considering subsidy hike for residential rooftop solar systems with capacities up to 3 kW
Under the Pradhan Mantri Suryodaya Yojana for residential rooftop solar, the Indian government is considering an increase in the subsidy for grid-connected residential rooftop solar systems with capacities between 1-3 kW. This category of systems were offered a 40% subsidy in the previously launched scheme.
IH2A proposes $5 billion hydrogen transition fund
The India Hydrogen Alliance (IH2A) has proposed a $5 billion fund to support the development of large-scale hydrogen projects and H2 hubs, supply chain, sectoral H2 transition, national skilling, and H2 infrastructure in India.
