Solar Energy Finance News

Punjab Govt Grants Rs 60 Crore To Power Piped Water With Solar

The Punjab government has approved the spending of Rs 60.50 crore to develop solar energy systems for rural piped water delivery schemes in the state, reducing annual electricity costs by Rs 8–9 crore. With a total installed capacity of 8.698 MW, solar energy plants based on net metering would be erected at 970 rural water […]

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Overseas Green Bonds Help Indian RE Developers Raise Over USD 15 Billion

Over the past five years, Indian renewable energy (RE) companies have relied on global bond markets to raise green bonds at attractive rates and open up domestic funding lines for new projects. Since 2014, Indian renewable energy developers have raised USD 15.5 billion in green bonds from international markets. The global rise in interest rates […]

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Indian Renewable Energy Sector Has Potential For $10 Bn Investment in 2023

India could draw close to $10 billion in renewable energy investment in 2023, which would be a positive given that public markets are still mostly closed to large-scale capital raising, according to Bank of America Corp’s top management. As investors aim to reflect the energy transformation in their portfolios, deals and investments will continue to […]

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RE Leader Suzlon Energy Sells Solar Subsidiary Vayudoot Solarfarms

Suzlon Energy, a manufacturer of wind turbines, approved the sale of its remaining 51.05% ownership interest in the subsidiary Vayudoot Solarfarms to Ahmedabad-based Aries Renewables, the firm reported in a National Stock Exchange filing. For a price of Rs 14.23 crore, Suzlon sold the remaining stake.  The company’s net worth was Rs. 24.2 crore, and […]

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Swedish Solar Cell Maker Midsummer Signs LOIs to Deliver 224 MW Solar Panels

Swedish manufacturer of thin film CIGS (copper indium gallium selenide)solar cells, Midsummer has announced the signing of letters of intent (LOI) with six Swedish and foreign business partners for a total of 107 MW of solar panels. With the release of 224 MW of solar cells and previously announced agreements with roof and building businesses […]

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Motovolt Mobility Raises Rs 160 Mn Pre-Series Funding Led by Wami Capital & Others

The Kolkata-based e-mobility company, Motovolt Mobility recently announced that it has raised INR 160 Mn in pre-series A round. PPAP Automotive, Vikrampati Singhania of JK Family, Ankur Agarwal of Crystal Crop, Wami Capital, a single family office based in Dubai, and other family offices participated in this round as strategic investors. The founder of the […]

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HDFC Bank to Make Significant Investments in EV Loans

Despite certain setbacks on the level of the auto industry, HDFC Bank is seeking to triple its financing for electric vehicle (EV) purchases in the next three years. This is due to an early assessment that lending is proving to be profitable. The banking institution aims to triple the ebook dimension by 2025 after initially […]

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Innovative Battery Tech Startup Clean Electric Raises $2.2mn Led by Kalaari Capital

Clean Electric, an innovative energy storage solutions start-up, raises $2.2M in a seed round led by Kalaari Capital, an early-stage venture capital company with offices in Bengaluru. Additionally taking part in the round were Climate Angels, LV Fund, 7Square Ventures, and CIIE Regional Innovation Foundation. Intense safety and performance problems for EVs such as battery […]

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