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ADB Issues Green Rupee-Linked Bond to Support Renewable Energy in India

According to reports, the Asian Development Bank (ADB) has raised 3 billion Indian Rupees (INR), about $47 million, from a new issue of offshore Indian Rupee-linked bonds to help finance climate change mitigation and adaptation projects in India. Today’s fundraising represents ADB’s maiden Indian Rupee green bond and shows the institution’s long term commitment to financial market development in India, said ADB Treasurer Pierre Van Peteghem. In today’s markets, green bonds are an increasingly important source of financing for climate ... Read More »

CLP India eyes transmission corridors, smart grids

According to reports, CLP India, part of the 115-year-old Hong Kong-based energy company, is eyeing potential buyouts, transmission project bids and renewable energy sector space in the country. The company, whose installed capacity is close to about 3 giga watt (3000 MW) in the country, is expected to see its renewable energy capacity going past the one giga watt mark with the commissioning of the 100 MW solar park at Veltoor in Telangana. Rajiv Mishra, Managing Director of CLP India, ... Read More »

IIEST creates India’s first smart grid project to generate power from renewable energy

According to reports, the Indian Institute of Engineering Science and Technology (IIEST) has successfully created the country’s first smart grid project, which will generate power from renewable sources of energy. The project will soon be inaugurated by President Pranab Mukherjee, IIEST Director Ajoy Kumar Roy told. “The smart grid will be synchronised to generate power from solar, wind and vegetable waste resources, depending on the weather conditions and availability of waste products. It is the first of its kind in ... Read More »

IFC to provide up to $40m debt to Tata Cleantech Capital

According to reports,   International Finance Corp (IFC) has agreed to provide $40 million worth senior debt to Tata Cleantech Capital Ltd (TCCL). TCCL will subscribe to secured non-convertible debentures, structured as a green bond, to be issued by the company, according to a disclosure. The company will use the proceeds to finance wind, solar and other climate finance projects that meet the green bond eligibility criteria. Mumbai-headquartered TCCL is a joint venture between Tata Capital and IFC, the investment unit ... Read More »

India, China surpass US as most attractive renewables markets: EY report

According to reports, thanks to strong government support, India has moved up to the second spot in the ‘Renewable energy country attractiveness index’ 2017 from the third position it held for the last two years, said a report released by Ernst & Young. The report released globally on Tuesday stated that China, which tops the index, and India have surpassed the US. “The fall—the first for the US since 2015—to third in the ranking of the top 40 countries follows ... Read More »

Adani Group’s renewable energy arm may raise $200 million

According to reports, Adani Group’s renewable energy arm is seeking to raise external equity capital after having pumped in millions of dollars of its own money to build a pipeline of projects worth over 2 gigawatts (GW), two people aware of the development said. The proposed fundraising could see Adani’s renewable arm—Adani Green Energy Ltd—raise as much as $200 million (about Rs1,300 crore), said one of the two people cited above, requesting anonymity, as the talks are private. “They have ... Read More »

Supreme Court stays trading of renewable energy certificates

According to reports, the Supreme Court has stayed trading in Renewable Energy Certificates (RECs), whose prices have been reduced by the Central Electricity Regulatory Commission (CERC). REC-generating companies had filed the petition in the court against the CERC action.  The court on Monday also stayed the new price regime introduced by the CERC, said sources privy to the hearing. The petitioners had submitted the unsold stocks of close to 10 million RECs, which enable trading in renewable energy, would not ... Read More »

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