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IREDA raises Rs 9.1 billion through Tier-II bonds

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Indian Renewable Energy Development Agency Limited (IREDA) has raised Rs 9.1 billion through privately placed subordinated Tier-II bonds. The bonds, issued with a 10-year tenure, carry an annual coupon rate of 7.74 per cent. The capital raised will enhance IREDA’s Tier-II capital, strengthening its net worth and improving its capital to risk-weighted assets ratio.  The funds will be utilized to enhance liquidity in the financial market and support IREDA’s borrowing strategy. This will facilitate increased…

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Husk Power to raise $400m for expansion in India, Africa

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Husk Power Systems plans to raise $400 million in debt and equity in 2025 to expand its mini-grid operations across India and Africa. This capital raise, a mix of equity and debt, precedes a planned initial public offering (IPO) in 2027. The company more than doubled its staff and revenue in 2024, while increasing its mini-grid operations from 200 to 400, according to Bloomberg. CEO Manoj Sinha stated the funds will support their 150% year-over-year…

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Philippines DOE approves expanded capacity for Tanay Wind Project

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The Philippines Department of Energy (DOE) has approved an increase in the registered capacity for the Tanay Wind Power Project, raising it to 128 MW from its initial 112 MW.  This expansion allows Alternergy Tanay Wind Corporation, a subsidiary of Alternergy Holdings Corporation, to install 16 wind turbines of 8 MW each, representing the largest onshore wind turbines in the country. The project, with financing of approximately PHP8 billion, is Alternergy’s second wind facility in…

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Jupiter Power secures $225 million credit facility to boost 12,000 MW energy storage pipeline

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Jupiter Power has closed a $225 million corporate credit facility to expand its energy storage portfolio across the United States.  The facility includes up to $175 million in letters of credit and $50 million in revolving loans.  Coordinated by Barclays Bank PLC, HSBC Bank USA, and Sumitomo Mitsui Banking Corporation, this financing will support Jupiter Power’s 12,000 MW development pipeline. Kirkland & Ellis acted as counsel for Jupiter Power, while Latham & Watkins represented the…