Serentica Secures $100M Loan for 300 MW Rajasthan Solar Project
Serentica Renewables announced on Thursday the successful financial closure of its second External Commercial Borrowing (ECB) financing, securing over $100 million in debt from global financial institutions Rabobank and Société Générale.The funds will support the development of a 300-megawatt (MW) solar power project in Rajasthan, designed to supply clean energy to Bharat Aluminium Company (BALCO), a leading Indian aluminium producer and subsidiary of the Vedanta Group.Akshay Hiranandani, CEO of Serentica Renewables, said, “This successful financial close, backed by global partners like ..
Jindal Stainless Partners on 282 MW Wind-Solar Hybrid Project
Jindal Stainless Ltd, India’s largest stainless steel manufacturer, has joined forces with private-sector power producer Oyster Renewable Energy to develop a 282 MW interstate wind-solar hybrid power project for its own consumption.The project is strategically located across Bhuj in Gujarat and Agar in Madhya Pradesh. It will combine 82 MW of wind and 135 MWp of solar capacity in Madhya Pradesh, alongside 99 MW of wind capacity in Gujarat, to supply power to Jindal Stainless Ltd’s manufacturing plants.Jindal Stainless has acquired a 33.64 per cent equity stake in Oyster Green Hybrid One Pv..
India Must Double Renewable Capacity To Hit 500 GW Target
India’s renewable energy sector must nearly double its annual capacity additions to 50 gigawatts (GW) between 2025 and 2030 to meet the ambitious target of 500 GW, according to a report by S&P Global Ratings. This represents a significant jump from last year’s addition of 29 GW.The global rating agency estimates that achieving this goal will require an investment of approximately USD 175 billion (around Rs 14.5 trillion) in capacity expansion, alongside up to USD 150 billion (about Rs 12.5 trillion) for the development and strengthening of transmission and distribution infrastructure.A..
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