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Warburg Pincus invests USD 100 Million in CleanMax Solar

CleanMax Solar, India’s largest rooftop solar developer for the corporate sector, today announced that it has secured equity financing of up to USD 100 million from an affiliate of Warburg Pincus, a global private equity firm focused on growth investing. CleanMax Solar enjoys 24% market share in India’s booming rooftop solar market (Source: Bridge to India 2017 report) and has numerous marquee clients including the Tata group, the Mahindra group, the TVS group, Carlsberg India, Konecranes India, Carl Zeiss India, Manipal Education and Medical Group, SKF ... Read More »

NLC India invests big money into renewable energy

According to reports,State-owned power producer NLC India is investing heavily in renewable energy as producing only lignite and generating power from it may not be sustainable for long, chairman and managing director S K Acharya told ET. Earlier known as Neyveli Lignite CorporationBSE 2.65 %, the company recently won a 709 MW solar project in Tamil Nadu and hopes green energy will boost topline growth. It has firmed up a capex of about Rs 17,400 crore for setting up 4,200 ... Read More »

India sees your bond bubble, will raise you a green one

According to reports, there’s a green bubble in India, with investors flocking to fund a planned tripling of renewable energy capacity over the next five years. Luckily for Singapore’s sovereign wealth fund, one of the more gung-ho backers of solar, wind and hydroelectric power in the country, there’s a bigger bubble out there — in global bond markets — that’s allowing the green mania to grow. GIC Pte owns 64% of Hyderabad-based, but Mauritius-incorporated, Greenko Energy Holdings. The latter appears to ... Read More »

Greenko Energy to raise up to $1 billion via dollar bonds

According to reports, Greenko Energy Holdings, which acquired SunEdison’s India assets last year, is looking to raise up to $1 billion via overseas dollar bonds to refinance the entire debt of the acquisition as well as its existing debt of $500 million. Mint was the first to report on Greenko’s fund raising plans through dollar bonds in November last year. According to bankers directly involved in the transaction, who did not want to be named, Greenko’s green bonds will have a ... Read More »

India’s Rural Electrification Corporation lists Green Bond in UK

According to reports, India’s Rural Electrification Corporation (REC) today launched its first Green Bond on the London Stock Exchange and raised USD 450 million to finance renewable energy projects in India. The 10-year dated Green Bond raised USD 450 million, with an annual yield of 3.965 per cent on the London Stock Exchange’s (LSE) new International Securities Market (ISM). It was 3.9 times oversubscribed on the final order book and secured strong international investor interest, with Asian investors making up 68 per cent ... Read More »

Niti roots for methanol-from-coal to cut down LPG import bill

According to reports, the government is promoting coal gasification to convert high ash coal into methanol that can be used as cooking gas, with an aim to cut down dependence on West Asian countries for LPG imports, Niti Aayog member V K Saraswat said. He said that the world’s largest coal miner, Coal India Ltd (CIL), is likely to set up a coal-based methanol plant in West Bengal. “There is excessive ash content at several coal mines in states like West Bengal, Odisha and Jharkhand, which are not in much ... Read More »

4 Indian solar, wind power firms plan to raise $2.5 billion in offshore bonds

According to reports, four Indian renewable power producers are planning to raise up to $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 $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 borrowing ... Read More »

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