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Daily Archives: July 5, 2017

Piramal Finance sanctions Rs700 crore in second funding round to ACME Solar

According to reports, Piramal Finance Ltd, a subsidiary of Piramal Enterprises Ltd, has sanctioned an additional Rs700 crore to renewable energy firm ACME Solar Holdings Ltd through its non-real estate lending arm Corporate Finance Group (CFG). The financing has been done through a new “flexi line of credit” product which has been introduced for the renewable energy sector. It aims to make a line of funding available to the borrower on the basis of operational projects, with the flexibility to ... Read More »

Indian renewable firms plan $2.5 billion in offshore dollar bond issues

According to reports, Four Indian renewable power producers are planning to raise up to USD 2.5 billion via dollar bonds offshore because of caution among domestic lenders, banking sources said. In addition to the four solar and wind power firms, a fifth company that invests in renewable projects, Adani Group, has raised USD 250 million via a loan but has yet to publicly announce the borrowing, the sources told Reuters. A source working with one of the bond issues said foreign ... Read More »

India’s rooftop solar sector – A success story but challenges remain

According to reports, India has set a path to achieve 100 GW power capacity through grid-connected solar energy, out of which 40 GW is targeted to come through rooftop solar installations by 2022. Till date, considerable efforts have been put in place to develop the rooftop solar photovoltaic sector in India by the government, regulatory commissions and concerned agencies. Basic framework now exists in the country and implementation of rooftop solar power plants has started in true sense. However, considering ... Read More »

Plan to make Varanasi clean city with renewable energy

According to reports, the Centre is considering an ambitious plan to make PM Narendra Modi’s constituency, Varanasi, a “clean electricity city” where only renewable energy would be used. The proposal is being considered with power minister Piyush Goyal mooting the idea after visiting Munich in Germany, where the city authorities have targeted 100% clean electricity supply by 2025. Sources said this came up for brief discussion on Tuesday when urban development secretary Durga Shankar Mishra was taking a review meeting ... Read More »

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