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ReNew Refinances $325 Million Non-Convertible Debentures

Independent renewable power producer ReNew has refinanced Non-Convertible Debentures (NCDs) worth ₹23.91 billion (~$288.3 million), issued by its subsidiaries in October...

January 12, 2024

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Gautamee Hazarika

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Other

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Renewable Energy
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REC to Drive India’s Transition to Net Zero as a Development Financial Institution

REC Limited, a public infrastructure finance company under the Ministry of Power, is being considered to be given the status of a development financial institution (DFI)...

September 19, 2022

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Gourav Mishra

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Finance and M&A

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Other

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Renewable Energy
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IREDA Records 19% YoY Jump in Profit to ₹2.25 Billion in Q1 FY 23

A non-banking financial company (NBFC) under the Ministry of New and Renewable Energy (MNRE), the Indian Renewable Energy Development Agency (IREDA) posted a total...

August 11, 2022

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Gourav Mishra

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Finance and M&A

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Other

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Renewable Energy
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REC Limited Posts Annual Profit of ₹100 Billion, its Highest-Ever

REC Limited, a public infrastructure finance company, reported a total income of ₹392.30 billion (~$5.05 billion) for the financial year (FY) 2022, an 11% increase...

May 17, 2022

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Satish Shetty

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Markets & Policy

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Solar
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IREDA Reports Highest-Ever Profit of ₹6.34 Billion in FY 22, an 83% Jump YoY

Indian Renewable Energy Development Agency (IREDA), a non-banking financial company (NBFC) under the Ministry of New and Renewable Energy (MNRE), recorded an all-time...

May 3, 2022

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Satish Shetty

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Other

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Renewable Energy
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REC Limited Raises $1.175 Billion to Provide Low-Cost Financing for Power Projects

REC Limited, a public infrastructure finance company, involved in financing power projects, has raised $1.175 billion (~₹82.45 billion) from a consortium of seven banks...

January 14, 2022

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Rakesh Ranjan

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Finance and M&A

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Other
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L&T Infrastructure Finance Receives $50 Million from AIIB to Fund Renewable Projects

L&T Infrastructure Finance Company Limited (LTIF), an Indian non-banking financial company (NBFC), announced that it had received the first $50 million (~₹3.72...

July 8, 2020

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Nithin Thomas

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Finance and M&A

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Other
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Fourth Partner Receives ₹5 Million Loan to Provide Solar for Non-Profit Entities

Fourth Partner Energy, an Indian distributed solar energy firm, has received a loan of ₹5 million (~$67,167), from Grameen Impact India (GIII), a non-banking finance...

March 17, 2020

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Nithin Thomas

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Finance and M&A

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Solar
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Power Finance Corporation Raises $300 Million Through Syndicated Loan

The Power Finance Corporation (PFC) has announced that it has raised $300 million through a three-year syndicated loan from the State Bank of India, Honk Kong and MUFG...

July 4, 2019

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Shaurya Bajaj

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Finance and M&A

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Other
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India’s NBFC Crisis Exacerbating Financing Challenges for Utility-Scale Solar Projects

Since September 2018, India’s Non-Bank Financial Companies (NBFC) have been in a crisis after Infrastructure Leasing, and Financial Services (IL&FS) admitted to...

May 23, 2019

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Shaurya Bajaj

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Mercom Research Focus

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Other
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REC Raises $700 Million Through Global Medium-Term-Note Program

The REC Limited (Formerly, Rural Electrification Corporation of India), a public sector enterprise under the Government of India, has raised $700 million through initial...

November 2, 2018

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Saumy Prateek

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Finance and M&A

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Solar
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IREDA’s Gross NPAs Rose to 6 Percent in FY 2016-17

The Indian Renewable Energy Development Agency (IREDA)’s gross non-performing assets (NPAs) rose to 6.01 percent of its total assets in the financial year (FY) 2016-17....

March 15, 2018

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Saumy Prateek

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Markets & Policy

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Solar
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MNRE Targets 20 GW of Grid-Connected Renewable Energy Capacity Addition in FY 2017-18

The Ministry of New and Renewable Energy (MNRE) has set a target of adding 20,450 MW of grid-connected renewable energy capacity in the financial year 2017-18. In a...

November 26, 2016

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Sampath Krishna

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Markets & Policy

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Solar

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