KKR-backed Virescent Infrastructure raises US$62 million
Mumbai-headquartered Virescent Infrastructure, set up by US investor KKR to own and operate renewable energy assets in India, has raised INR 4.6 billion (US$62 million) through its renewable energy-focused infrastructure investment trust (InvIT). Canada’s Alberta Investment Management Corporation (AIMCo) led the funding.
Canada’s OMERS Infrastructure to buy 19.4% stake in Azure Power
The transaction expands Canadian pension plan’s investment in clean energy, consistent with its long-term strategy to increase footprint in this growing sector.
Indian startup Solavio Labs raises Canadian fund
The solar panel-cleaning robot startup, which saw its sales jump 125 times last year, has thus far raised three levels of funding amounting to INR 2 crore from government bodies in India, Dubai, and Canada.
Solar panel cleaning startup Solavio Labs selected into Canadian accelerator program
The Coimbatore-based startup has designed an autonomous solar panel cleaning bot with a modular design, making it compatible with almost any structure, mounting area, or climatic condition.
Big dip in import and export of solar modules and cells
A flying start to the year saw huge volumes of solar cells and modules imported to India but the scale and value of such products fell over the remainder of 2018 and export figures mirrored that trend.
US rejects establishment of compliance panel, disagreeing with India’s WTO claim
The United States blocks India’s request for a panel to investigate Indian compliance to solar cells ruling. Thus, the Dispute Settlement Body (DSB) has deferred the establishment of a compliance panel. Moreover, U.S. reserves its right to obtain WTO authorization to take countermeasures against India, but there is desire to find a bilateral resolution.
Greenko competing with Renew Power to acquire SkyPower
Greenko and Renew Power both companies are in talks with Canadian developer SkyPower to buy its stake in Indian solar projects.
EESL India owned EPAL partnered with Leclanché to invest $12 million into first utility-scale storage project in Canada
The project will improve stability on Canada’s largest transmission grid by managing unbalanced supply-demand situations. Similarly, Indian PSUs owned EESL, through EPAL, will also be a part of $175 million investment in clean energy initiatives in the UK’s public and private sectors.
