| Work Detail |
Avaada Energy Secures ?4,471 Crore in Refinancing from NaBFID for Solar Projects in Rajasthan
Avaada Energy secures ?4,471 crore from NaBFID for Rajasthan solar projects, enabling debt repayment and offering favorable terms. The 20-year rupee term loan covers four 1,700 MWp projects with an ‘AA (Stable)’ rating. Chairman Vineet Mittal highlights the milestone’s significance in India’s renewable energy sector, consolidating NaBFID as the sole lender. Avaada Group’s diverse activities in renewable energy, solar PV manufacturing, and green fuel development are poised to expand with this refinancing, bolstering sustainable energy efforts.
Tata Power Solar Systems Limited Teams Up with Indian Bank to Boost Solar Rooftop Adoption
Tata Power Solar Systems Limited collaborates with the Indian Bank to finance solar rooftop systems for residential consumers, supporting installations from 3 to 10 KW under the PM Surya Ghar Muft Bijli Yojana scheme. Loans up to ?2 lakh for 3 KW systems, and up to ?6 lakh for 10 KW systems, with competitive interest rates and minimal margin money requirements. This partnership aligns with government objectives, aiming to enhance accessibility and affordability for solar solutions, furthering India’s renewable energy goals.
Grew Energy Secures 200 MW Contract in SECI Solar Auction
Grew Energy Pvt. Ltd. secures a 200 MW contract in SECI’s auction, supplying domestically manufactured solar PV modules nationwide. CEO Vinay Thadani highlights the company’s technological prowess. The bid price is set at ?22.66/Wp, establishing a benchmark. COO Hardip Singh assures readiness to meet demands and deadlines, aiming to bolster India’s renewable energy sector and global sustainability efforts. Grew Energy aims to strengthen its “Make in India” stance and become a top player in solar solutions.
Amara Raja Infra Secures 700 MWp BoS Contract from Greenko in Andhra Pradesh
Amara Raja Infra Private Limited, a subsidiary of Amara Raja Group, secures a substantial solar BoS project from Greenko for a 500MW/700MWp capacity, marking its largest project yet. ARIPL will handle EPC for the project in Kurnool District, Andhra Pradesh, part of Greenko’s Integrated Renewable Energy Project. This boosts ARIPL’s order book to Rs 1,516 crore for Q4 FY2024, underscoring its credibility and rapid growth in the renewable energy sector. Executives highlight ARIPL’s advancements and readiness to excel in solar projects.
Powering Karnataka: Overcoming Regulatory Hurdles In The 300 MW Solar Project across Gadag and Koppal
SolarOne Energy Private Limited navigates regulatory hurdles in Karnataka for its 300 MW projects. Changes in connectivity regulations from 2009 to 2022, alongside SECI delays, impact project viability. Legal interventions ensue as SolarOne fights to maintain connectivity under the new framework. Discussions with CTUIL reflect the complexity of balancing timelines and compliance. SolarOne stresses its investments and operational commitments amid regulatory uncertainties. These challenges mirror broader struggles in India’s renewable energy sector, highlighting the need for resolution to propel national energy ambitions.
Challenges in Chhattisgarh’s Renewable Energy Sector: Delays And Regulatory Obstacles For Solar Projects
Chhattisgarh’s renewable energy sector faces setbacks as ABReL Green Energy and Ultra Tech Cement encounter delays in a 93.5 MW solar project. Land acquisition issues stall progress. ABReL petitions for exemptions from transmission charges to ease financial strain, sparking debate among stakeholders. While CREDA supports ABReL’s plea, CSPTCL and CSPDCL raise concerns about undermining regulatory integrity. The Commission acknowledges challenges but stresses adherence to timelines and eligibility criteria for promotional benefits. The case underscores the intricacies of renewable energy development amidst regulatory complexities and the quest for flexibility in addressing obstacles.
Fitch Ratings Affirms ‘BB-‘ Rating for Clean Renewable Power’s USD363 Million Notes
Fitch Ratings affirms Clean Renewable Power’s senior secured notes at ‘BB-‘ with a stable outlook. Backed by Hero Future Energies Asia, CRP operates eight renewable projects in India, totaling 505 MW. Revenue stability is ensured through long-term PPAs with SECI and state utilities, offsetting potential payment delays. Moderate operational risks are mitigated by established technology and fixed-price contracts. Debt structure includes features like cash traps and mandatory cash sweeps. While CRP is on par with IGPH, it boasts a more diversified portfolio. However, CELP holds a higher rating due to its stronger debt structure.
Rystad Energy’s latest Data Unveils India’s Remarkable Surge in Renewable Energy Installations
India achieves a record 7.1 GW of renewable energy installations in March, hitting 18.5 GW annually. Dominated by solar, challenges loom to reach the 500 GW target by 2031-32. Initiatives like PLI and customs duty aim to enhance domestic manufacturing. Despite progress, competition and logistical hurdles remain. India eyes regional power trading but faces challenges with interconnector projects. Domestic focus persists, but international cooperation offers future potential in clean energy endeavors.
Ecozen Raises $30 Million to Advance Solar-Powered Agricultural Technologies
Ecozen secures $30 million in equity and loan funding, led by Nuveen, InCred Credit Fund, and US International Development Finance Corporation. Co-founder Devendra Gupta emphasizes global market expansion and climate-smart technology adoption. Ecozen’s products like Ecotron and Ecofrost have driven significant agricultural improvements, tripling profits and increasing sales fivefold. With plans to enter African and Southeast Asian markets, Ecozen aims to leverage its technology for cleaner energy transitions. Supported by investors like Omnivore and HDFC Bank, Ecozen remains a leader in sustainable agriculture technology and global market expansion.
Klub and U GRO Capital Launch ?150 Crore Loan Initiative for Sustainable Projects in India’s MSME Sector
Klub and U GRO Capital joined forces, allocating ?150 crores to boost credit access for Indian MSMEs. The collaboration focuses on sustainable initiatives, with loans supporting eco-friendly projects like Rooftop Solar and EV financing. Klub’s advanced analytics and U GRO Capital’s digital lending expertise streamline loan processes, offering amounts from ?1 lakh to 5 crores. The partnership aims to empower MSMEs, foster economic growth, and promote environmental sustainability. |
