Federal Bank, Ecofy Tie Up For Boosting Rooftop Solar Financing Updated On Wed, Dec 18th, 2024 by Saurenergy Federal Bank has announced partnering with green fintech company Ecofy to offer innovative financing solutions for MSMEs investing in commercial rooftop solar installations. This collaboration marks one of the first comprehensive co-lending partnerships specifically designed to address the unique solar financing needs of the MSME sector, the companies said. The program targets financing 3,600 kW […] Read more
Solar Startup Raptor Maps Closes $35 Mn Series C Financing Round Updated On Wed, Dec 11th, 2024 by Saurenergy US-based software company Raptor Maps recently announced its oversubscribed Series C financing round. The $35 million growth investment was led by Canadian-based Maverix Private Equity (Maverix). It involved participation from existing investors MKB, Blue Bear Capital, Congruent Ventures, Buoyant Ventures, and Y Combinator. The firm works towards increasing the impact of advanced analytics and digital […] Read more
Azure Completes Rs 2400 cr Refinancing Updated On Thu, Oct 17th, 2024 by Saurenergy Azure Power Global Limited, has announced the successful completion of its ₹24 billion refinancing transaction, structured as an INR Term Loan underwritten solely by REC Limited. Following this transaction, the company has successfully prepaid its Green Bonds, originally issued in 2019 for $350 million and backed by 10 solar projects commissioned between 2016 and 2019. […] Read more
Avaada Energy Secures Rs 597 Crore Refinancing for PV Projects Updated On Wed, Oct 16th, 2024 by Saurenergy Avaada Energy, a subsidiary of the Avaada Group, has secured Rs 597 crore ($71.1 million) in refinancing for its commercial and industrial (C&I) solar projects. These projects are located in Karnataka and Maharashtra. The refinancing was provided by NIIF Infrastructure Finance Limited (NIIF IFL), an infrastructure debt fund focused on refinancing operational infrastructure projects. Avaada’s […] Read more
REC Steps Up On Green Financing With 37.3% Growth In Renewable Energy Funding Updated On Mon, Oct 7th, 2024 by Saurenergy REC Limited, a maharatna CPSE under the Ministry of Power and a leading NBFC, has disbursed loans worth ₹90,955 crore, up 20.10% year-on-year for the half year ended September 30, 2024. The quantum of renewable energy loans grew 92.68% year-on-year to ₹11,297 crore. Notably, the firm raised the largest ever tranche of green binds from […] Read more
Zelestra Closes €132 Mn Financing For Its Gorbea Solar Plant In India Updated On Mon, Sep 23rd, 2024 by Saurenergy Spanish renewable energy firm Zelestra, has closed a €132 million (INR 1472 crores) project financing package for its Gorbea solar photovoltaic plant in India. The financing was signed with HSBC, Credit Agricole, MUFG, and Bank of America. The facility, denominated in Indian Rupees (INR), is designated as green financing under Zelestra’s Green Financing Framework, aligning […] Read more
UltraTech Secures $500mn Financing For Sustainability Initiatives Updated On Tue, Aug 27th, 2024 by Saurenergy UltraTech Cement Limited (UltraTech) recently raised $500 million through a sustainability-linked loan, with participation from six banks. Sumitomo Mitsui Banking Corporation (SMBC) acted as the sole Sustainability Coordinator for this transaction and served as the exclusive advisor on UltraTech’s Sustainability-Linked Financing Framework. The primary lenders in the transaction include SMBC, SBI, BNP Paribas, DBS, MUFG, […] Read more
Ruloans, UGRO Capital Foray Into Rooftop Solar Financing Biz Updated On Tue, Aug 20th, 2024 by Saurenergy Ruloans, a credit distribution company in India, entered into a partnership with UGRO Capital, a DataTech MSME-lending platform, to tap into the growing renewable energy finance market. Ruloans is a direct sales agent (DSA) for all financial services, including loans, credit cards, and insurance. It recently added rooftop solar finance products into its loan portfolio […] Read more
Moody’s Report Calls For Sustainable Financing To Shift Towards RE In India Updated On Thu, Jun 27th, 2024 by Saurenergy Moody, a financial service company, in its recent report, found a growing challenge faced by the renewable energy sector due to water scarcity in India. The report advocated for a shift towards renewable energy investments to mitigate these risks. Moody’s report cautions against a decrease in the per capita water due to its increased usage […] Read more
