Fitch Ratings has assigned India-based ReNew Power Restricted Group 4’s (ReNew RG4) proposed US dollar senior secured notes due 2028 an expected rating of ‘BB-(EXP)’. The Outlook is Positive. ReNew RG4 is a restricted group that includes 10 subsidiaries of ReNew Power Private Limited (ReNew Power, BB-/Positive). ReNew Power is one of the largest renewable-energy […]
Edelweiss infra fund snaps up 74 pc stake in Engie Group”s India solar assets for USD 550 mn
Mumbai: Edelweiss Infrastructure Yield Plus (EIYP), an alternative investment fund from the Edelweiss Group, on Thursday snapped up a controlling 74 per cent stake in French utility Engie Group”s solar assets in India for a reported USD 550 million. The Engie Group has 813 MW of operational solar assets in the country, and it plans […]
S Africa to get 3 power ships, invest in renewable energy to tackle electricity crisis
Johannesburg: South Africa has announced fresh plans to alleviate the severe electricity crisis in the country, including three offshore power ships, greater use of solar and wind energy. Minister of Mineral Resources and Energy Gwede Mantashe, on Thursday, announced eight preferred bidders in the government’s emergency risk mitigation programme, which will enable independent power suppliers […]
Climate finance still not on table for developing countries: Javadekar
Climate finance promised in 2009 under the Paris agreement are still “not on the table” for developing countries, Javadekar said. Climate finance of USD 100 billion a year and green technologies for mitigation actions promised in 2009 under the Paris agreement are still “not on the table” for developing countries, Environment Minister Prakash Javadekar said […]
IFC Picks Up $56 Mn Of Continuum Energy’s $561 Mn-Green Bonds
The IFC has subscribed to 10 per cent or USD 56 million of Continuum Energy’s first green bond sale closed earlier this month The International Finance Corporation (IFC) has picked up 10 per cent of the first green bond issuance worth USD 561 million by Continuum Wind Energy as the anchor investor. The IFC has […]
Clear Blue Completes Third Illumient Project Totaling $1.5M USD
Clear Blue, in partnership with Rukun Al Yaqeen International, Completes Third Illumient Project Totaling $1.5M USD for a Residential Development and Two Regional Airports for Petroleum Development Oman One of the largest petroleum companies in the world and residential developers in Oman choose Clear Blue’s Illumient Smart Off-Grid Solar Street lights to provide reliable lighting […]
ADB to provide USD 231-mn loan to enhance power generation capacity in Assam
This is the third tranche loan for the ongoing Assam Power Sector Investment Program, which was approved by the ADB board in July 2014 New Delhi: The Asian Development Bank (ADB) will provide a USD 231-million loan to augment electricity generation capacity in Assam through construction of a 120-megawatt (MW) hydroelectric power plant. ADB and […]
India needs to invest USD 180 billion over the next decade to realise its EV ambition
According to the study, the country’s electric vehicle market could be worth nearly $206 billion (around Rs 14.24 lakh crore) in the coming decade, if India were to achieve its 2030 EV ambitions. CHENNAI : India needs to make a cumulative investment of over $180 billion in electric vehicle production and charging infrastructure until 2030 […]
USD 1 bn solar scam toasts US husband & wife team: officials
Washington : An American couple pleaded guilty to running a USD 1 billion solar investment scam that they used to finance a luxury lifestyle, including buying Burt Reynolds’ sports car, US authorities announced Friday. The California husband and wife team were taking money from investors for non-existent mobile solar generators, which they used to buy […]
Adani Green arms to raise $500 million via dollar denominated bonds
The bonds will be allotted on June 10, 2019 and those will mature on December 10, 2024. New Delhi: Adani Green Energy Friday said the boards of its three subsidiaries have approved the pricing, tenure and other terms for issuing dollar denominated bonds worth USD 500 million ( about Rs 3,490 crore). According to a […]