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OMERS Infrastructure to Pay $219 M for 19.4% Stake in Azure Power

Canada-based OMERS Infrastructure recently announced that it has signed a Stock Purchase Agreement to acquire from International Finance Corporation and IFC GIF Investment Company I an approximately 19.4% stake in Azure Power Global Limited, for a total consideration of approximately US$219 million. Founded in 2008, Azure Power is a leading independent renewable power producer located []

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From the Middle East To the US, Philadelphia Solar plans a 1 GW Foray

Amman, Jordan-based Philadelphia Solar has confirmed plans to build 1 GW manufacturing facility in the U.S. the announcement is a rare case of a middle-east manufacturer setting up a plant in the US market. Philadelphia Solar manufactures mounting structures too, besides solar panels using automated robotic production lines, at its existing facilities in Jordan. For []

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Trinas Vertex Modules Powering 60MW Floating Solar System in Singapore

Chinese solar panel manufacturer Trina Solar has today announced that its 12,556 Trina Solar 210 Vertex dual-glass modules are powering a 60 MW floating solar PV system on Singapores Tengeh Reservoir. The project has recently been connected to the grid and is fully commercially operational now. The project, the largest floating solar PV system in []

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MDPs Committed Climate Finance Worth $66 B in 2020: Joint Report

According to the recently published 2020 Joint Report on Multilateral Development Banks Climate Finance, climate finance committed by major multilateral development banks (MDBs) rose to a total of $66 billion last year from $61.6 billion in 2019, of which, 58%or $38 billionwas committed to low- and middle-income economies. The total climate cofinance committed during 2020 []

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EXIM Bank Extends $40 M to Togo to Power 350 Villages with Solar PV

Export-Import Bank of India has, on behalf of the Government of India, extended a Line of Credit (LOC) of USD 40 million to the Government of Togo for the purpose of the electrification of 350 villages in Togo through solar photovoltaic systems. India has been on a major outreach among developing countries ever since it []

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Ikea & Rockefeller Foundation Collaborates for $1 Billion RE Investment

Two big foundations, Ikea and Rockefeller have come together to set up a USD 1 billion global platform to fight climate change and energy poverty. The platform launching this year is aiming to reduce 1 billion tons of greenhouse gas emissions and to empower 1 billion people with distributed renewable energy (DRE).  The Rockefeller Foundation is focused []

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Policy, Finance & Grid Vital to Achieve Indias Ambitious Climate Goals

With a global effort towards a transition to clean energy already underway, India has set ambitious targets for itself 450 GW renewables capacity to be created by 2030. Despite the countrys many achievements in the last 5 years in the renewables sector, which have resulted in its having the worlds 5th largest solar and []

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Experts Find Lower Costs, Cheap Credit To Be Decisive For Energy Future

What does the energy landscape look like in the post-Covid era? Ajay Mathur, Director, International Solar Alliance, believes that as we look to the future, two-three key changes emerge: One, post the pandemic, energy equipment buyers are considering the operating costs of energy with greater emphasis, largely because of the greater availability of credit, which []

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Sale of Electricity in Futures Market will Benefit RE Investors: IEEFA

The introduction of derivatives to Indias short-term power market will make it easier for renewable project developers to enter into offtake arrangements with state-owned distribution companies (discoms), finds a new briefing note from the Institute for Energy Economics and Financial Analysis (IEEFA). The launch of new financial instruments will enable developers to hedge their offtaker []

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