financing

A 337MW PV portfolio in Mexico has reached financial close, according to Mexico’s Secretariat of Energy (SENER).

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.

The European Investment Bank (EIB) has entered a new partnership with the International Solar Alliance and confirmed plans to provide €800 million in financing for small-scale renewable energy project investment across India.

Solar project developer ReneSola announced Wednesday that it has secured US$18 million in financing from China Kangfu International Leasing — an affiliate of State Power Investment Corporation.

Manila-based bank, the Asian Development Bank (ADB) is partnering with governments, communities and the private sector to support clean energy projects in the Pacific region.

A 50MW grid-tied solar PV plant in Nigeria’s Kaduna state has been selected as one of the winners for financing under Access Power’s Access Co-Development Facility (ACF) fund – the first crowdsourcing origination platform of its kind that provides funding to local developers.

Asia Clean Capital (ACC) has partnered with LONGI Solar Technology, a wholly-owned subsidiary of mono specialist LONGI Green Energy Technology, to co-develop 300MW of rooftop solar in China.

Spruce Finance, a provider of consumer financing for residential solar and home efficiency improvements, has closed a US$105.4 million round of debt financing with Investec and Silicon Valley Bank (SVB) as the lead arrangers.

Tata Power agreed to buy Welspun Renewable Energy earlier this month for INR92.49 billion (US$1.42 billion). Against the backdrop of fiercely competitive bidding, Mercom Capital Group chief executive and co-founder Raj Prabhu, explains the scene of potential mergers and acquisitions in the Indian solar market.

2015 was a landmark year for the Indian solar industry, with the 100GW by 2022 target approved and a significant ramp up of deployment. Bridge to India's Jyoti Gulia discusses the challenges ahead regarding project delays, transmission infrastructure and financing.