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India | News

CIL and DVC sign MoU to develop 1600 MW power plant in Jharkhand
By April 23, 2025April 23, 2025

Coal India Limited (CIL) has signed a memorandum of understanding (MoU) with Damodar Valley Corporation (DVC) to jointly develop a 2×800 MW ultra supercritical coal-fired power plant at the Chandrapura thermal power station in Jharkhand. This project, a brownfield expansion, will increase the plant’s capacity from the existing 2×250 MW. The proposed plant will require a total investment of Rs. 165 billion, with the joint venture based on a 50:50 equity sharing model. Coal for…

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India | News

IREDA raises Rs 9.1 billion through Tier-II bonds
By March 26, 2025March 26, 2025

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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Global | News

Husk Power to raise $400m for expansion in India, Africa
By January 8, 2025January 8, 2025

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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Global | News

Philippines DOE approves expanded capacity for Tanay Wind Project
By November 7, 2024November 7, 2024

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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Global | News

Jupiter Power secures $225 million credit facility to boost 12,000 MW energy storage pipeline
By November 6, 2024November 6, 2024

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…

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