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.
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.
Solar corporate funding hits decade-long high in 2023 globally
PV funding activity increased by 42% year-on-year in 2023, driven by strong growth in private market financing and debt financing, despite a decrease in the total number of deals, according to Mercom Capital Group.
Adani to build 1.35 GW of pumped storage, 100 MW data centre powered by renewables in Telangana
Adani Green Energy will set up 1.35 GW of pump storage projects with an investment of over INR 5,000 crore ($601.48 million) in the Indian state of Telangana. Adani Enterprises Ltd (AEL) will also invest over INR 5,000 crore in a 100 MW data centre, powered by renewable energy.
Torrent Power commits $5.7 billion investment in Gujarat
Torrent Power will develop 3,450 MW of solar power projects, 1,045 MW of hybrid power projects, and the solar park infrastructure for a 7 GW solar power project in Gujarat. It will also set up a 100 ktpa green hydrogen/green ammonia production facility in the state.
GIFT City advances on platform for hydrogen trading
The Gujarat International Finance Tec-City (GIFT City) has partnered with the Indian Gas Exchange (IGX) and Gujarat State Petroleum Corp. (GSPC) to establish a global hydrogen trading mechanism.
Reliance, Jindal, Adani among winners of production-linked incentives for electrolyzer manufacturing
Eight companies emerged as winners in Solar Energy Corp. of India’s 1.5 GW electrolyzer manufacturing tender under the production-linked incentives scheme.
