Essar to develop 1 GW green hydrogen project in Gujarat
Essar Group will develop a 1 GW green hydrogen project in Gujarat with an estimated investment of INR 30,000 crore ($3.6 billion).
BluPine Energy achieves financial closure for 120 MW solar project in Gujarat
BluPine Energy has secured green loan financing from Standard Chartered for its 120 MW solar project in Gujarat.
Swedish zinc-ion battery startup secures funding for megafactory
Enerpoly, a Swedish startup that produces zinc-ion battery storage systems with durations of two to 10 hours, plans to scale production up to 100 MWh per year by 2026.
Cost of battery-based energy storage, INR 10.18/kWh, expected to reduce with VGF and PLI Schemes
Currently, the cost of battery-based energy storage in India is INR 10.18/kWh, as discovered in a SECI auction for 500 MW/1000 MWh BESS. The government has launched viability gap funding and Production-Linked Incentive (PLI) schemes to make battery storage affordable.
Adani Group to invest $100 billion in green energy transition over 10 years
Adani Group targets to become net zero by 2050 or earlier for five of its portfolio companies — Adani Green Energy, Adani Energy Solutions, Adani Ports & SEZ, ACC, and Ambuja Cements.
Lenders choose renewables over coal for second year in a row
In year 2022, solar, wind and hybrid project finance lending amounted to INR 18,577 crore ($2.36 billion). On the other hand, like in 2021, not a single coal power plant received such funding.
ISA announces launch of pilot project backed by Global Solar Facility
The International Solar Alliance’s Global Solar Facility (GSF) includes payment guarantee, insurance and investment fund components to catalyze solar investments in underserved geographies.
Adani Green secures $1.36 billion debt facility to finance Khavda RE Park
Adani Green Energy Ltd (AGEL) has secured a $1.36 billion debt facility from eight international banks in one of the largest project finance deals in Asia. It will use the funding to develop the world’s largest renewable energy park at Khavda in Gujarat.
Alpex Solar files draft papers for IPO with NSE Emerge
The solar manufacturer will utilize the net proceeds to expand its PV panel capacity from 450 MW to 1.2 GW and establish an aluminium frame manufacturing unit, besides meeting working capital expenses.
ReNew signs MoU with Asian Development Bank for $5.3 billion
ReNew has signed a memorandum of understanding with the Asian Development Bank for the financing of renewable energy, manufacturing, carbon offset, and green hydrogen projects between 2023 and 2028.
