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Mytrah Energy in talks to raise Rs1,800 crore from Piramal Capital SFG

According to reports, Hyderabad-based renewable energy producer Mytrah Energy India Pvt. Ltd is in advanced talks to raise Rs1,800 crore in structured debt funding from Piramal Capital’s structured finance group (SFG), two people directly aware of the development said on condition of anonymity. According to them, the deal is at a term-sheet level and will be one of the largest structured debt investments by Piramal group till date. Mytrah plans to use the funds to refinance its debt and provide ... Read More »

Macquarie to acquire solar power assets of Hindustan Powerprojects in $600 mn deal

According to reports, an infrastructure fund of Australia’s Macquarie Group Ltd has agreed to buy about 330 megawatts (MW) of operational solar assets from power producer Hindustan Powerprojects Pvt. Ltd for an enterprise value of $600 million, said two people familiar with the discussions. The deal, which will give Macquarie an entry into India’s renewable energy sector, is in an advanced stage of completion and an agreement has been signed, these people said, asking not to be named as the ... Read More »

Tata Cleantech Capital funds the largest private solar rooftop system in Mumbai

According to reports, Tata Cleantech Capital Limited (TCCL) – a joint venture between Tata Capital Limited and International Finance Corporation (IFC), has funded the solar rooftop project at the National Centre for Performing Arts (NCPA), established and installed by Avesta Solar Private Limited (ASPL), in Mumbai. TCCL, the sole lender, disbursed a total of Rs. 2.36 crore to this project; the largest solar rooftop project in Mumbai. Due to the close proximity to the sea, the team had to anticipate ... Read More »

Payment delays, lower tariffs hurt renewable energy sector: Mercom study

According to reports, payment delays by power distribution companies (Discoms) is posing a major challenge to the growth of the renewable energy sector, as it chokes liquidity and creates roadblocks in further funding of projects. While in some states the delay has been up to four months, the Maharashtra State Electricity Distribution Company Limited (MSEDCL) has stoppped buying power from wind power generators for the past three years, resulting in heavy losses, said a report. Many developers completely rely on ... Read More »

Ireda to give Rs 13,000 crore loans for renewable sources, including solar

According to reports, Clean energy projects in the country can look forward to  loans to the tune of Rs 13,000 crore from Indian Renewable Energy Development Agency (Ireda) in the next financial year. With the government planning to add 15-16 GW of clean energy projects, including solar and wind, there would be total credit market size of around Rs 65,000 crore. According to Ireda Chairman K S Popli, Ireda would be able to release around Rs 8,000 crore for these clean energy ... Read More »

ReNew Power plans IPO to raise up to $600 million

According to reports, India’s largest clean energy producer ReNew Power is planning an initial public offering (IPO) of shares to raise up to $600 million after it closed the latest round of funding from Japan’s JERA, a joint venture between Tokyo Electric Co. and Chubu Electric Co that valued it at $2billion, said people directly aware of the plans. Investors such as Goldman Sachs, the largest shareholder in the company, Abu Dhabi Investment Authority, Asian Development Bank and Global Environment Fund ... Read More »

ADB lends $175 m to Power Grid Corporation

According to reports, the Asian Development Bank (ADB) has extended a $175 million loan to the Power Grid Corporation of India Ltd. An official statement stated that this will be “to support construction of high voltage transmission systems to evacuate power generated from new mega solar parks to the interstate grid, and improve reliability of the national grid system.” The project will improve the capacity and efficiency of interstate transmission networks, particularly in transmitting the electricity generated from the new ... Read More »

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