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Rewa Solar Park to get USD 440 million Debt from IFC

World Bank’s International Finance Corp will provide USD 440 million in debt to Mahindra Renewables Pvt Ltd, Acme Group and global private equity fund Actis Llp to build the Rewa solar park in Madhya Pradesh. India’s solar power sector turned a corner after the record low winning bids of INR 2.97… read more →

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YES Bank to raise $1 b to fund solar energy projects

YES Bank has announced that it will mobilise $1 billion till 2023 and $5 billion till 2030 towards financing solar energy projects in India. The private sector bank made this announcement at the International Solar Alliance (ISA) conference organised at the World Future Energy Summit 2018 in Abu Dhabi. read more →

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Solar energy systems maker Orb Energy gets Rs 95 cr from FMO and Others

Solar energy systems maker Orb Energy has raised over Rs 95 crore ($15 million) in a part-equity and part-debt round from the Dutch development bank FMO, self-sustaining US government agency Overseas Private Investment Corporation (OPIC), African finance institution Pamiga and Germany's development… read more →

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Azure Power wins 200 MW in SECI auction

Azure Power, one of India’s leading independent solar power producers, has been awarded a 200 MW solar PV power project through an auction conducted by SECI. Azure Power will sign a power purchase agreement with SECI to supply power at a tariff of INR 2.48 ($0.04)/kWh for 25 years. The plant will… read more →

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Uttar Pradesh tenders for 1GW of solar, SECI postpones 2GW pan-India RfP

Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has issued a Request for Proposal (RfP) for 1GW of grid-connected solar projects. The capacity will be awarded via tariff-based, competitive bidding. Power will be sold to state Discom UP Power Corporation Limited (UPPCL) under 25-year… read more →

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IFC set to invest Rs 2,800 crore in MP Solar park

In one of the biggest deals in the renewable energy space, International Finance CorporationBSE -4.94 % (IFC), part of World Bank group, is close to investing $440 million or Rs 2,800 crore in Rewa Ultra Mega Solar Park in Madhya Pradesh. The investment will be in the form of debt in three companies… read more →

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CIAL to enhance solar power generation

The Cochin International Airport Ltd (CIAL), which has taken the lead in utilising renewable energy in the aviation sector by becoming the first fully solar-powered airport in the country, is aiming to optimise its renewable energy capabilities to a record level of 40 MV by March. The airport company,… read more →

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BRPLs solar rooftop consumer programme launched

Aiming to promote clean energy, a major discom here today launched the "countrys first" solar rooftop consumer aggregation programme for residential buildings, which seeks to provide installations at a single point for an entire apartment complex. The Solar City Initiative - Solarise Dwarka was unveiled… read more →

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St Francis Assisi Cathedral goes solar

In June 2015, Fr Judis Panackal, vicar of St Francis Assisi Cathedral received a 'Laudato Si' encyclical (a papal letter) on environment and climate change from the Vatican, which stressed on the need to embrace renewable energy, including solar power. Inspired by Pope Francis's call to actively combat… read more →

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Tata Power Renewable commissions 50 MW DCR solar plant

Tata Power Arm Renewable Energy Ltd (TPREL) commissioned its 50 MW DCR solar plant at Pavagada Solar Park in Karnataka. The project was bagged by the company on April 4, 2016 under the National Solar Mission Phase-II Batch-II Tranche-I State Specific Bundling Scheme. With this development, The TPREL’s… read more →

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