NLC India approves Rs 1.25 trillion capex to scale capacity to 20 GW by 2030
NLC India Limited has approved a capex plan of Rs 1.25 trillion to expand its power generation capacity from 6.7 GW to 20 GW by 2030. The investment breakdown comprises Rs 650 billion for renewable energy and green initiatives (including Rs 150 billion for battery energy storage systems), Rs 450 billion for thermal capacity and Rs 150 billion for mining operations. The capex will be funded through internal accruals, domestic loans, initial public offerings (IPOs) (including that of its renewables arm) and external commercial borrowings.
CCEA approves increasing investment limit to Rs 200 billion for NGEL
The Cabinet Committee on Economic Affairs (CCEA) has approved an increase in the investment limit of NTPC Green Energy Limited (NGEL) to Rs 200 billion from the earlier cap of Rs 75 billion. This will enable NGEL to further invest in NTPC Renewable Energy Limited and its other subsidiaries and joint ventures, in order to support NTPC Limited’s target of adding 60 GW of renewable energy capacity by 2032.
ADB and GCF launch $200 million green financing programme in India
The Asian Development Bank (ADB) has partnered with the Green Climate Fund (GCF) to launch the India Green Finance Facility (IGFF) with $200 million in concessional funding from the GCF. The facility aims to unlock large-scale public and private investment in high-impact and emerging clean energy sectors. It will use blended finance to extend lines of credit to national development finance institutions, for building and managing a pipeline of clean energy projects. A key component of the programme is a $65 million risk-sharing facility that will offer partial credit guarantees to support smaller developers in accessing affordable financing for compressed biogas projects.
Ministry of Finance grants IREDA bonds tax-exempt status
The Ministry of Finance, through the Central Board of Direct Taxes, has notified that bonds issued by Indian Renewable Energy Development Agency Limited (IREDA) will qualify as “long-term specified assets” under Section 54EC of the Income Tax Act, 1961, from July 9, 2025. This enables eligible investors to claim up to Rs 5 million per financial year in exemption on long-term capital gains by investing in IREDA bonds, redeemable after five years. The proceeds from these bonds will be used exclusively to finance renewable energy projects with self-sustaining revenue streams.
Adani Power acquires 600 MW VIPL project
Adani Power Limited has completed the acquisition of Vidarbha Industries Power Limited (VIPL), a 2×300 MW domestic coal-fired power plant located in Butibori, Nagpur district, Maharashtra, for Rs 40 billion. VIPL had been undergoing the corporate insolvency resolution process under the Insolvency and Bankruptcy Code . In June 2025, the National Company Law Tribunal (NCLT) approved Adani Power’s resolution plan, which was successfully implemented in July 2025.
AGEL receives Rs 93.5 billion equity infusion through warrant conversion
Adani Green Energy Limited (AGEL) has received an equity infusion of Rs 93.5 billion from its promoter group through the conversion of 11.5 million share warrants into equity by Ardour Investment Holding Limited. The warrants were issued at Rs 1,480.75 per share and were fully paid up, with the final 75 per cent subscription being completed. Of the total proceeds, Rs 31.16 billion will be used to repay shareholder loans and Rs 62.33 billion for capex and corporate purposes.
INOX Clean Energy files IPO papers with SEBI to raise Rs 60 billion
INOX Clean Energy has filed a confidential draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an IPO to raise Rs 60 billion. The offer will involve over 10 per cent equity dilution. The aim is to support the company’s capex plans for upcoming renewable energy projects and manufacturing facilities.
Shakti Pumps raises Rs 2.92 billion through QIP
Shakti Pumps has closed a qualified institutions placement (QIP) issue to institutional investors, raising Rs 2.92 billion. The QIP issue had a price of Rs 918 per share, representing a 4.97 per cent discount on SEBI’s floor price of Rs 965.96. The proceeds will be used to establish a greenfield high-efficiency solar cell and solar photovoltaic module manufacturing plant.
World Bank approves $1.5 billion loan to boost South Africa’s energy reforms (Overseas)
The World Bank has approved a $1.5 billion infrastructure modernisation development policy loan to support South Africa’s structural reforms in energy and freight transport. The South African government has committed to modernising state-owned enterprises and opening the power and freight transport sectors to private sector competition. The loan supports this drive through three mutually reinforcing pillars: improving energy security by attracting investment in transmission, expanding grid access and enhancing municipal distribution; increasing freight transport efficiency by establishing an independent economic regulator; and unbundling the state logistics company.