REC Group has secured orders for 45MW of solar modules to be installed at rooftop PV projects under the RESCO rooftop model in India, where the developer leases the rooftop system to the rooftop owner.
The International Finance Corporation (IFC) has made an equity investment of US$15 million into Indian rooftop solar specialist CleanMax Solar, the financier’s first foray into grid-connected distributed generation.
Indian rooftop solar specialist CleanMax Solar and technology engineering institute IIT (BHU), Varanasi, have commissioned a 1.5MW rooftop PV project across multiple building rooftops the IIT campus in Uttar Pradesh.
India reached 1,396MW of rooftop solar deployment at the end of March, with nearly half (678MW) of this installed just in the fiscal year 2016-17, according to the latest ‘India Solar Rooftop Map’ from Bridge to India.
Indian rooftop PV specialist CleanMax Solar has secured equity financing of up to US$100 million from an affiliate of global private equity firm Warburg Pincus, in order to continue growth in the rooftop and open access solar power markets in India, as well as the Middle East and Southeast Asia.