NTPC REL signs green term loan agreement for 35 billion
NTPC Renewable Energy Limited (NTPC REL) has signed an unsecured green term loan agreement for Rs 35 billion with the Punjab National Bank. The loan has a tenor of 15 years with annual repayment. It can be used to meet the capital expenditure of NTPC REL’s ongoing/new projects.
IFC commits $105 million in Brookfield’s 500 MW solar project
The International Finance Corporation (IFC) has committed to invest $105 million to partially finance a 550 MW solar power project in Bikaner, Rajasthan. The project is being developed by Brookfield Asset Management. The funding will involve long-term non-convertible debentures allocated to the special purpose vehicles responsible for executing the project. The project will be integrated into the interstate transmission system of India’s green energy corridor. Brookfield will supply solar power to commercial and industrial consumers at competitive rates through long-term power purchase
GETCO to invest Rs 960 billion in transmission infrastructure
Gujarat Energy Transmission Corporation (GETCO) has announced plans to invest Rs 960 billion over the next eight years to develop transmission infrastructure within the state. This investment aims to support the evacuation of the rapidly growing renewable energy capacity, particularly in sparsely populated areas like Kachchh and northern Gujarat. Gujarat plans to add 2,458 MW of coal capacity and 1,620 MW of hydro capacity in 2028-29. The development of adequate transmission capacity is essential to support these expansions and ensure efficient energy distribution to major consumption centres such as Ahmedabad, Morbi, Rajkot and Vadodara.
PFC signs loan agreement with CVPPPL to extend Rs 18.69 billion financing for Kiru HEP
Power Finance Corporation Limited (PFC) has signed an agreement with Chenab Valley Power Project Private Limited (CVPPPL) for a term loan of Rs 18.69 billion. As per the agreement, the loan will be used to develop and construct the greenfield 4×156 MW Kiru hydroelectric project (HEP) on the river Chenab in Kishtwar district of Jammu & Kashmir. CVPPPL is a 51:49 per cent joint venture between NHPC Limited and Jammu and Kashmir State Power Development Corporation Limited.
Essar to invest Rs 300 billion in green hydrogen plant in Gujarat over four years
The Essar Group plans to invest Rs 300 billion over the next four years in setting up a green hydrogen plant in Jamnagar, Gujarat, as it views clean energy as a key pillar for its new phase of growth. The conglomerate is looking to decarbonise its oil refinery in the UK, construct a green steel plant in Saudi Arabia and build a lique-fied natural gas and electric ecosystem to decarbonise long-haul heavy trucks.
Sterlite Power secures Rs 13.73 billion funding from PFC
Sterlite Power has secured funds totalling Rs 13.73 billion from Power Finance Corporation Limited (PFC) for its Neemrana-II Kotputli Transmission Limited project. The company acquired the Neemrana-II Kotputli Transmission SPV in November 2023 to execute the green energy corridor on a build-own-operate and transfer basis for a period of 35 years.
Kalpataru Projects International Limited raises Rs 3 billion through NCDs
Kalpataru Projects International Limited has raised Rs 3 billion through the issuance of NCDs on a private placement basis. The NCDs will be listed on the wholesale debt market segment of Bombay
Inox Wind Energy raises Rs 9 billion through the sale of its stake in Inox Wind Limited
Inox Wind Energy Limited has raised Rs 9 billion through the sale of equity shares in Inox Wind Limited. These will be used to reduce Inox Wind’s debt and increase its working capital, strengthening its balance sheet. The transaction was executed via block deals on the stock exchanges, with participation from several notable institutional investors
CIF to lend $500 million to the Philippines for renewable energy transition (Philippines)
The Government of the Philippines has secured $500 million in investments from the Climate Investment Funds (CIF) to transition from coal to renewable energy. The Accelerating Coal Transition (ACT) investment plan, approved by CIF’s governing board, aims to expedite the retirement or repurposing of coal-fired plants, including the Mindanao plant. It targets the retirement of up to 900 MW of existing coal generation capacity by 2027. The funding will support the addition of 1,500 MW of renewable energy capacity by 2030, including battery systems, offshore wind, floating solar and pumped hydro projects. The ACT investment plan aims to reduce greenhouse gas (GHG) emissions by 33 million tonnes of CO2 by 2030. Currently, coal constitutes 44 per cent of the Philippines’ total installed capacity and 60 per cent of the total generation, accounting for over 55 per cent of the country’s GHG emissions. The government has committed to a 75 per cent reduction in GHG emissions by 2030, aligning with its Nationally Determined Contribution.