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Asian Development Bank (ADB) to invest $20 million each in Clean Resources Asia Growth Fund & Renewable Energy Asia Fund

Just a couple of days back Asian Development Bank (ADB) was in the news for the signing of  a joint venture agreement with India’s NTPC Ltd. and Kyushu Electric Power Company of Japan to develop and operate 500 megawatts of renewable energy projects in India in the next three years. According to this report today, The Asian Development Bank (ADB) will infuse $40 million in two “promising” companies that aim to invest in environment-friendly energy projects in the Philippines, India, ... Read More »

REpower signs 295 MW contract with C-Power for Thornton Bank project in biggest ever offshore wind project financing of EUR 900 million

REpower Systems AG (WKN 617703),  in which Suzlon Energy Limited is a majority shareholder with over 90 per cent holding , signed a contract with the Belgian offshore project development company, C-Power, for the delivery of 48 of the REpower 6M type wind energy turbines. The turbines have a total rated power of approximately 295 megawatt (MW) and are envisaged for phases 2 and 3 of the first Belgian offshore wind farm, Thornton Bank. Companies from Belgium, Germany, France, the ... Read More »

Norway keen to fund Solar Projects in India

Panchabuta has been tracking the various developments in the area of solar funding in India. During the bidding for the first phase of the Jawaharlal Nehru National Solar Mission, ADB had expressed its concern regarding the funding of solar projects in India. Subsequently, the European Investment Bank had mentioned that they were keen on financing the solar projects in India. This was followed by the visit of President Obama to India and the announcement of the signing of a number ... Read More »

NTPC JV with Asian Development Bank (ADB), Kyushu Electric Power Japan to set up 500MW renewable power in 3 years in India

The Asian Development Bank (ADB) today signed a joint venture agreement with India’s NTPC Ltd. and Kyushu Electric Power Company of Japan to develop and operate 500 megawatts of renewable energy projects in India in the next three years. India is the third largest electricity consumer in Asia, after the People’s Republic of China and Japan, and demand has grown at an average of 8% a year since 1995. “The new joint venture company will help India achieve its goal ... Read More »

Lakshmi Energy & Foods to augment biomass (Rice Husk) capacity from 30MW to 105MW

Lakshmi Energy and Foods Ltd. (LEF),  is one of the largest food grain processing companies in India. The company is among India’s largest producers of non basmati varieties of rice with a turnover of over 5.5 billion rupees. The company today boasts of as the fastest growing food companies in India. LEF, being a large mill has integrated facilities for rice bran oil. Lakshmi Energy and Foods Ltd. (LEF) has taken a step towards creation of energy hubs at different ... Read More »

Power Finance Corporation (PFC) of India to form subsidiary to focus on renewable energy projects

PFC was set up in July 1986 as a Financial Institution (FI) dedicated to Power Sector financing and committed to the integrated development of the power and associated sectors. PFC occupies a niche position as a provider of finance exclusively focused on the Indian power sector. PFC is Rated Baa3/BBB-/BBB- by Moody’s,S&P and Fitch respectively; ratings are at par with Indian sovereign rating. The Corporation was registered as a Non Banking Financial Company by RBI and has been conferred with ... Read More »

US OPIC provides $100 mn for $300 mn South Asia Energy Fund of Global Environment Fund (GEF)

The Global Environment Fund (GEF) is a private equity fund, that  invests in businesses dedicated to clean technology, emerging markets, and sustainable forestry, with approximately $1 billion in aggregate capital under management.  The GEF has a $300-million South Asia Energy Fund for which the US Overseas Private Investment Corporation (OPIC) will provide $100 million in financing. The South Asia Energy Fund will invest in solar, wind, hydropower, advanced biofuels and natural gas projects, with focus on India. It is glad ... Read More »

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