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Azure Power secures REC and HSBC refinancing, completes early bond prepayment

India, News

Azure Power Global Ltd, a leading renewable power producer in India, has completed an Rs 24 billion refinancing transaction structured as an INR Term Loan underwritten solely by REC Ltd.  This transaction enabled the company to prepay its $350 million Green Bonds, originally issued in 2019, which were set to mature in December 2024. These bonds were backed by 10 solar projects commissioned between 2016 and 2019. Previously, Azure Power completed an Rs 13 billion…

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Azure Power to prepay USD 350 million green bonds maturing in December 2024

India, News

Azure Power Global Limited has announced plans to prepay its USD 350 million green bonds, originally issued in 2019 and set to mature in December 2024. These bonds, listed in Singapore and backed by ten solar projects commissioned between 2016 and 2019, are being refinanced through a term loan valued at approximately Rs 24 billion, underwritten solely by REC Limited. The projects covered under this refinancing have a combined capacity of 615 MW and are…

Power Sector News Roundup for October 21, 2024

Power Bytes

Global: Top European Union economies spend 42 billion euros annually on fossil-fuel company car subsidies, study finds European green electricity PPA prices fall 12.4% in Q3 2024, LevelTen Energy reports Neart na Gaoithe offshore wind farm generates first power for UK grid Hellenic Cables secures contract for Leading Light Wind project in the US deveritec GmbH and Wirepas launch new NIC for Wirepas 5G Mesh in Europe Lhyfe partners with KEYOU for hydrogen mobility in…

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SEC charges Adani executives in solar project bribery case

India, News

The Securities and Exchange Commission (SEC) has charged Gautam Adani and Sagar Adani, senior executives at Adani Green Energy Ltd., and Cyril Cabanes, a former executive of Azure Power Global Ltd., for their alleged roles in a multi-billion-dollar bribery scheme. The scheme was allegedly designed to secure favourable terms for a solar energy project awarded by the Indian government. The SEC alleges that Gautam Adani, Chairman of Adani Green, and Sagar Adani, its Executive Director,…

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Renewable energy developers commit massive capacity investments at RE-Invest 2024

India, News

At the RE-Invest event in Gandhinagar, Gujarat, several renewable energy developers have made significant capacity creation commitments as part of their “Shapath Patra” agreements with the government. Reliance Industries (RIL) has pledged to set up 100,000 MW of additional renewable capacity by 2030, alongside manufacturing 20,000 MW per year of integrated solar PV and equivalent glass capacity. Other major commitments include: NTPC Ltd: 41,300 MW ReNew: 40,000 MW Adani Green Energy: 38,300 MW Hero Future…