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COP29: IEEFA pushes banks to reorient lending for renewables, $400 billion annual funding shortfall
The Institute for Energy Economics and Financial Analysis (IEEFA) has urged global action at the 29th Conference of Parties (COP29), emphasizing a $400 billion annual investment gap to meet renewable energy targets by 2030. Labelling COP29 as the “climate finance COP,” IEEFA’s new briefing highlights the need for policies incentivizing banks to redirect lending toward…
HFE signs Rs 300 billion MoU for 4 GW renewable projects in Andhra Pradesh
Hero Future Energies has signed an MoU worth Rs 300 billion with the Andhra Pradesh government to set up 4 GW of renewable energy projects. The projects will come up in Ananthapuramu, Kurnool and Kadapa and will be developed in two phases. HFE will use its technical and project development experience to deliver the planned…
Yinson Renewables secures $59m financing for Peru’s Matarani solar project
Yinson Renewables has obtained $59 million in senior secured green financing for the 97 MW peak Matarani solar project in Peru. The financing, arranged by IDB Invest and Natixis Corporate & Investment Banking (Natixis CIB), adheres to the Green Loan Principles 2023. The Matarani solar project, located near Arequipa, is Peru’s first non-subsidized operational solar…
Sterlite Electric files DRHP with SEBI for IPO
Sterlite Electric Limited, formerly known as Sterlite Power Transmission Limited, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO will consist of a fresh issue of up to 7.793 million equity shares and an offer for sale of up…
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India’s coal output crosses 1 billion tonnes
India produced and dispatched over 1 billion metric tonnes of coal in FY2023–24. This marks a 70% rise since 2014, driven by structural reforms including commercial coal mining, first launched in 2020. Nearly 150 mines have been auctioned so far, with the 12th round underway. States have received nearly Rs 2.5 trillion in premiums and…
Avaada Group commissions 11 solar projects in Yavatmal
Avaada Group has commissioned 11 solar power projects in Maharashtra’s Yavatmal district under the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) 2.0. The projects include a 4 MW plant at Kinhi, 3 MW each at Baldi and Dongarkharda, 2 MW each at Bansi and Patan, a 5 MW plant at Mhasola, 2 MW at Galwa, 4…
