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Daily Archives: May 9, 2017

IFC-JICA to co-finance $1.5 billion in emerging market projects

According to reports, “IFC, a member of the World Bank Group, and the Japan International Cooperation Agency (JICA) are planning to co-finance up to $1.5 billion in high-impact private sector projects over the next five years under a partnership that aims to modernize infrastructure and expand access to basic services for under-served communities in emerging markets,” IFC said in a statement on Monday. This comes against the backdrop of India implementing its ambitious infrastructure development programmes in sectors such as ... Read More »

ReNew Power’s Sumant Sinha raises $100m from Piramal unit ahead of IPO

According to reports, Sumant Sinha, founder of Goldman Sachs-backed green energy producer ReNew Power Ventures Pvt. Ltd, has raised around $100 million in structured credit from Piramal Capital’s structured financing group (SFG) to raise his stake in the company ahead of a proposed initial public offering (IPO), two people aware of the development said. The fund raising was necessitated by Sinha’s low stake in the company, which could force private equity investors to lock in part of their shareholding as ... Read More »

Bhadla solar park receives a base price bid of Rs3.01 per unit

According to reports, India’s solar power tariffs are set to fall below Rs3 per unit at Bhadla in Rajasthan. State-run Solar Energy Corp. of India (SECI), which is running the bid process for 750 megawatt (MW) of solar power capacity at two parks, has received price bids for the 250 MW Adani Renewable Energy Park Rajasthan Ltd, with the reserve price set at Rs3.01 a unit. “We have achieved a base price of Rs3.01 per unit before the reverse auction. ... Read More »

Japan’s Orix Corp partners with Sun Group for solar business in India

Sun Group, a leading principal investor in emerging markets, has formed a joint venture partnership for its distributed generation (DG) focused solar business, Sun Renewables, with Orix Corporation, one of the largest Japanese financial services groups and the largest solar developer in Japan. The partnership brings together the synergistic strengths of Sun and Orix to position Sun Renewables as a leading player in DG solar in the country with a clear focus on providing commercial and industrial (C&I) clients with ... Read More »

Wind energy takes sail out of fiscal 2018 infra outlook

According to reports, lacklustre toll roads, thermal and wind energy brought down the overall outlook of infrastructure sector to negative. Wind energy that had stable outlook in fiscals 2016 and 2017 has a negative outlook for fiscal 2018, while airports have moved to positive from the earlier stable outlook, according to India Ratings and Research (Ind-Ra). On the renewable power front, the solar energy sector is shining over wind power projects. The credit quality of wind power projects is likely ... Read More »

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