reliance

A subsidiary of Reliance Capital, part of major Indian conglomerate Reliance Group, has signed an agreement to obtain INR3 billion (US$46 million) in funding from the Indian Renewable Energy Development Agency (IREDA) for lending to renewables and energy efficiency projects.

Delhi-based private distribution company (Discom) BSES, which is backed by Indian conglomerate Reliance Infra, plans to procure 700MW of clean energy including solar power using a reverse auction process.