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Daily News Wrap-Up: MNRE Hikes CFA for Residential Rooftop Solar Projects

The Ministry of New and Renewable Energy has increased the benchmark Central Financial Assistance (CFA) for grid-connected rooftop solar power systems under Phase II of...

January 9, 2024

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Mercom Staff

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Daily Wrap-up
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SBI Signs $165 Million Loan with World Bank to Fund Rooftop Solar Projects

The State Bank of India (SBI) has signed a $165 million line of credit from the World Bank to finance grid-connected rooftop solar projects in the residential and...

December 26, 2023

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Staff

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Markets & Policy

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Rooftop

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Solar
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ADB Approves $250 Million Loan for India’s Power Sector Reform

The Asian Development Bank (ADB) has approved a $250 million (~₹20.8 billion) policy-based loan to strengthen India’s power sector, supporting a speedy transition...

December 4, 2023

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Staff

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Other

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Renewable Energy
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World Bank Loans $200 Million to Himachal Pradesh to Add 10 GW of Renewables

The World Bank‘s Board of Executive Directors approved a loan of $200 million to the Government of Himachal Pradesh to help the Indian state achieve its target of adding...

June 29, 2023

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Gourav Mishra

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Finance and M&A

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Renewable Energy
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ADB Launches New Financing Program to Accelerate Climate Action in APAC

The Asian Development Bank (ADB) has announced a new financing program for the Asia Pacific (APAC), which will significantly help the region accelerate actions required...

May 3, 2023

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Gourav Mishra

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Other

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Renewable Energy
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Reduced NPAs Help IREDA Post 12% YoY Jump in Q4 Profit at $31 Million

Government-owned lender Indian Renewable Energy Development Agency (IREDA) posted a profit of ₹2.54 billion (~$31 million) for the fourth quarter (Q4) of the financial...

April 26, 2023

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Gautamee Hazarika

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Finance and M&A

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Other

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Renewable Energy
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PFC Loans ₹6.33 Billion to Gensol to Expand EV Deployment

Power Finance Corporation (PFC) has approved a loan of ₹6.33 billion (~$77 million) to Gensol Engineering for the purchase of 5,000 passenger electric vehicles (EVs) and...

April 21, 2023

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Gourav Mishra

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Electric Vehicles

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Finance and M&A
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Collateral-free Loan, with Low Down Payment Key to Rooftop Solar Adoption

The upfront investment can more often dissuade potential customers from adopting rooftop solar. However, the hesitation can be overcome with a collateral-free loan with...

April 21, 2023

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Gourav Mishra

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C&I

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Rooftop

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Solar
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IFC Loans $110 Million to Fertilizer Producer for Solar Projects in Morocco

International Finance Corporation (IFC) has signed an agreement with phosphate-based fertilizer producer OCP for a €100 million (~$110.5 million) green loan to build...

April 14, 2023

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Gourav Mishra

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Finance and M&A

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Solar
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SIDBI Launches Lending Program to Make Electric Vehicles More Affordable

Government-owned lender Small Industries Development Bank of India (SIDBI) has launched a pilot program — Mission 50K-EV4ECO — to bring down the cost of...

April 13, 2023

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Sumit Jha

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Uncategorized
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Renewable Lender IREDA Approved 37% More Loans in FY 2022-23

The Indian Renewable Energy Development Agency (IREDA) has approved ₹327.6 billion (~$4 billion) worth of loans as on March 27, up 37% year-over-year (YoY), which...

March 29, 2023

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Gourav Mishra

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Other

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Renewable Energy
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Daily News Wrap-Up: POWERGRID Board Approves Raising ₹6 Billion Through Bonds

The Power Grid Corporation of India (POWERGRID) said it would raise unsecured, non-convertible, non-cumulative, redeemable, and taxable bonds worth ₹6 billion (~$72.86...

March 28, 2023

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Mercom Staff

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Daily Wrap-up
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Japan Bank Loans ¥2.6 Billion to PFC for Emissions Reduction Projects

Power Finance Corporation (PFC) has inked a project loan agreement with the Japan Bank for International Corporation (JBIC) for a ¥2.6 billion (~$20.2 million) facility....

March 27, 2023

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Gourav Mishra

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Other

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Renewable Energy
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ADB to Loan ₹7.5 Billion to SAEL for 74.5 MW Biomass Energy Projects

India-based solar and agricultural waste-to-energy company SAEL Industries has signed loan agreements with the Asian Development Bank (ADB) for up to ₹7.5 billion (~$91....

March 23, 2023

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Satish Shetty

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Other

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Renewable Energy
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IREDA Receives Infrastructure Finance Company Status from the RBI

Government-owned lender Indian Renewable Energy Development Agency (IREDA) has been granted an ‘Infrastructure Finance Company’ (IFC) status by the Reserve Bank of India...

March 14, 2023

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Satish Shetty

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Other

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Renewable Energy

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