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Maharashtra’s PM Surya Ghar Muft Bijli Yojana achieves 100 MW rooftop solar capacity
The PM Surya Ghar Muft Bijli Yojana has successfully surpassed 100 MW of rooftop solar (RTS) power generation capacity in Maharashtra. Under this initiative, 25,086 customers have installed 101.18 MW RTS power plants, leveraging the program’s incentives. The Maharashtra State Electricity Distribution Company (MahaVitaran) oversees the implementation of the scheme. Launched in February, the initiative offers a maximum subsidy of Rs 78,000 for a 3 kW plant, funded by the Central government. A direct payment…
Just Climate to invest Rs 12.56 billion in Continuum Green Energy for wind-solar hybrid projects in India
Continuum Green Energy, a leading renewable energy group in India focused on commercial and industrial consumers, has entered into a definitive agreement with Just Climate, a specialist investment firm. Just Climate will invest Rs 12.56 billion (approximately USD 150 million) in new equity to support Continuum’s deployment of wind-solar hybrid energy generation and storage projects across India. This investment is part of Just Climate’s Climate Asset Fund I, which targets industrial climate solutions in the…
India Grid initiates preferential share issue to raise Rs 6.95 billion
India Grid Trust (IndiGrid) has launched a preferential share issue priced at Rs 136.43 per share, aiming to raise approximately Rs 6.95 billion. This move comes after the completion of an offer-for-sale (OFS) by its sponsor, KKR, which saw strong demand from both existing and new long-term investors. The OFS, designed to reduce KKR’s stake from 21.17% to 3.85%, was nearly two times oversubscribed. The offering attracted participation from major institutional investors, including L&T, HSBC…
Vattenfall halts developing 640 MW Kriegers Flak offshore wind farm in Sweden
Swedish power company Vattenfall has decided to halt the development of the 640 MW Kriegers Flak offshore wind farm, citing “unviable investment prerequisites” in Sweden. Located 30 km south of Trelleborg, the Kriegers Flak site was expected to generate 2.7T terawatt hours (TWh) of energy annually, enough to power 500,000 households each year. In May 2022, the Swedish government granted a construction permit for the project, allowing for the installation of 35 to 50 wind…
ADB approves USD 241.3 million for electricity distribution in West Bengal
The Asian Development Bank (ADB) has approved a USD 241.3 million financing package to enhance electricity distribution in West Bengal, ensuring a reliable and sustainable power supply. This program aligns with the revamped distribution sector scheme (RDSS) to strengthen operational efficiency in power distribution companies. The West Bengal Distribution System Strengthening Program will cover seven districts, benefiting 8.96 million consumers. Key components of the program include replacing low-tension overhead lines with aerial bundled cables, establishing…
Hindenburg alleges SEBI head’s past investments linked to Adani Group
Hindenburg Research has accused SEBI head Madhabi Puri Buch of previously investing in offshore funds linked to the Adani Group. Buch has dismissed the allegations as baseless, affirming that all required disclosures were properly made. Hindenburg claims that Buch and her husband held stakes in a Bermuda-based fund in 2015, which reportedly had connections to Adani Group associates. The Adani Group rejected these claims, calling them an attempt to tarnish the company’s reputation. The allegations…