Author Archives: Wendy Prabhu
About Wendy Prabhu
Wendy is a co-founder of Mercom Capital Group, the parent company of Mercom India. Wendy is a contributing editor at MercomIndia.com and is responsible for content quality across the company and products. She has over 15 years of business and finance experience in the energy and technology markets. In addition to Mercom, Wendy has written for many other clean energy-focused blogs and publications. More articles from Wendy Prabhu.
Indian Solar Sector Received Over $10 Billion in Financing During 2017
In 2017, the Indian solar sector logged over $10 billion (~₹650 billion) in financing activity, according to Mercom Capital Group’s recently released 2017 Q4 and Annual India Solar Market Update ...
MNRE to Spend $10 Million to Foster Clean Energy Awareness
The Ministry of New and Renewable Energy (MNRE) is planning to spend ₹660 million (~$10.3 million) over the next two financial years on increasing renewable energy awareness in India. “The ...
IFC Announces Financial Package of $188 million for Jordan’s Largest Solar PV Project
The International Finance Corporation (IFC), a member of the World Bank Group, has arranged a financial package of up to $188 million for the development of a 248 MW solar ...
Solar Was the Top Source of New Power Capacity Addition in 2017 For the First Time in India
Solar was the leading source of new power capacity additions in the calendar year 2017 with installed capacity of approximately 9.5 GW accounting for 45 percent of total power capacity ...
MIGA to Provide $102.6 Million for Six Solar Projects in Egypt
Multilateral Investment Guarantee Agency (MIGA), a World Bank Group member, has decided to provide guarantee of up to $102.6 million in support of the construction, operation, and maintenance of six ...
ReNew Power Raises $352 Million to Pursue Expansion Plans
Indian renewable energy project developer ReNew Power has raised ₹22.35 billion (~$352 million) to be used for its expansion and loan-payment plans. Confirming the development, a source at ReNew Power told ...
Orb Energy Raises $15 Million from FMO and OPIC
The solar firm Orb Energy has raised over $15 million (~₹954 million) in equity and debt to expand its in-house finance facility of rooftop solar projects for Small- and Medium-sized ...
IFC to Loan $50 Million to Mahindra Renewables
The International Finance Corporation (IFC), a member of the World Bank Group, will provide $50 million (~₹3.2 billion) as senior or IFC-A loan to Mahindra Renewables Private Ltd. (MRPL). MRPL, ...
Waaree Energies Raises ₹1 Billion from Centrum Financial Services and Private Equity Firm
Waaree Energies, an Indian solar module manufacturer and Engineering Procurement Construction (EPC) services provider, has raised ₹1 billion (~$15.6 million) from Centrum Financial Services Ltd, the non-banking finance arm of ...
ReNew Power Acquires 103 MW of Wind Projects for over $155 Million
Indian renewable energy project developer ReNew Power has acquired a 100 percent stake in KCT Renewable Energy Private Limited (KCTREPL) from the Karm Chand Thapar (KCT) Group for over ₹10 ...
IFC Invests $150 Million in Green Bonds in Philippines
First Filipino Green Bond Attracts Investment from World Bank Member The first green bond launched by a commercial bank in the Philippines has attracted a $150 million (~₹9.65 trillion) investment ...
African Development Bank Approves $324 Million Loan for Renewable Energy Projects
The African Development Bank (AfDB) approved $324 million (~₹20.84 billion) in loan support for two renewable energy projects. The projects are being developed in Morocco and Côte d’Ivoire. The loan ...
Indian Solar Imports Drop 40 Percent in Q3 but Still Up Significantly Year-over-Year
Import and export activity in the Indian solar sector dropped by $464.15 million (~₹30 billion) quarter-over-quarter to $776.08 million (~₹49.9 billion) in the third quarter of calendar year 2017. By ...
Greenlight Planet Raises $60 Million for Off-Grid Solar Financing
Greenlight Planet, a solar home energy company, has raised $60 million (~₹3.86 billion) in funding from a group of investors led by London-based private equity fund manager Apis Partners. Greenlight ...
Arjun Infrastructure Partners Acquires Enviromena Power Systems
Arjun Infrastructure Partners, a British independent infrastructure investment advisory company, has acquired Enviromena Power Systems (Enviromena), a clean energy project company in the Middle East and North Africa (MENA) region ...
PFC Issues $400 Million of Green Bonds on LSE’s International Securities Market
The Power Finance Corporation (PFC), an undertaking of the government of India, made its first international bond issuance in more than two decades last week when it issued $400 million ...
MBSB to Provide MYR247 Million (~$59.91 million) in Financing to Develop a 50 MW Solar Project
The Malaysia Building Society Berhad (MBSB) has entered into an agreement with Solar Management (Seremban) Sdn Bhd (SMS) to provide up to MYR247 million (~$59.91 million) in financing to develop ...
Canada Pension Plan Investment Board to Invest About $200 Million in ReNew Power
The Canada Pension Plan Investment Board (CPPIB) is set to invest approximately $200 million (~₹12.9 billion) in ReNew Power Ventures in the form of compulsory convertible preference shares (convertible debt) ...
India Generated 5.3 Billion Units of Solar Power in Q3 2017, a 91 Percent Increase YoY
Solar accounted for 5.3 billion units (BU) of electricity produced in India during the third quarter (Jul-Sep) of 2017, a 91 percent increase over the third quarter of 2016, according ...
World Bank Will Provide $100 Million to Develop Solar Parks in India
The Government of India (GoI) and the World Bank have signed agreements to develop large-scale solar parks in India. As part of the agreements the World Bank will provide $100 ...
Canadian Solar Sells 80 MW Solar Project in Maharashtra, India
Canadian Solar, a global module supplier and solar project developer, has sold its 80 MW (108 MW DC) grid-connected solar project in Maharashtra. The sale of the project by Canadian ...
Financial Innovation Enables Scatec Solar to Launch Projects Worth Nearly $1 Billion
Innovative ways to raise capital, ranging from Islamic Green Bond to climate finance, has enabled Scatec Solar to launch 758 MW of clean energy projects on three continents - Asia, ...
$4.2 Billion in Financing Activity in the Indian Solar Sector So Far This Year
In the first three quarters of 2017, the Indian solar sector saw almost $4.2 billion (~₹272 billion) in announced corporate, project funding, and M&A deals, according to the recently released ...
Cleantech Solar, responsAbility to Provide $20 Million Loan for Rooftop Solar Projects in Asia
Cleantech Solar, a Singapore-based solar energy provider, and responsAbility have joined forces to increase the momentum of rooftop solar energy adoption in South-East Asia and India. A responsAbility-managed climate fund ...
IFC-Led Consortium Invests $653 Million to Develop 13 Solar Projects in Egypt
A consortium of investors led by the International Finance Corporation (IFC), a member of the World Bank Group, has finalized a $653 million debt package to finance the construction of ...
