Solar PV manufacturing conference: One of the upcoming destinations for solar PV manufacturing beyond China is India, where companies are gathering support from technologists and scientists to develop an upstream value chain. The idea is not just to establish vertical integration but also to make it a resilient and sustainable one. TaiyangNews is bringing together the country’s leading solar PV players and international experts to discuss the progress of solar PV manufacturing in the Asian country in a 2-day physical event in New Delhi, India, on April 10 and 11, 2025. Omkar Jani, the CTO of Reliance Industries, will be in attendance at the conference as part of the executive panel, where he will share insights on technology improvements for profitable solar manufacturing along the value chain. Registrations for the TaiyangNews Solar Technology Conference India 2025 are open now here, where you can take a look at the list of speakers and insightful sessions planned.
IREDA’s INR 9.1 billion raise: The Indian Renewable Energy Development Agency (IREDA) has raised INR 9.1 billion ($106 million) through privately placed subordinated tier-II bonds. These bonds were issued with a 10-year tenor at an annual coupon rate of 7.74%. The proceeds will increase its tier-II capital, its net worth and capital to risk-weighted assets ratio (CRAR). “This will further empower us to accelerate green energy financing, aligning with the Government of India’s target to achieve 500 GW of non-fossil fuel-based energy capacity by 2030,” said IREDA Chairman and Managing Director Pradip Kumar Das.
$12.5 million for Ecofy: A non-banking financial company (NBFC) that finances rooftop solar and electric vehicles (EV) in India, Ecofy Finance has raised a $12.5 million loan. This loan from Denmark’s Investment Fund for Developing Countries (IFU) will enable Ecofy to expand its loan portfolio in India. The company targets to finance over 1 million EVs and more than 1.5 GW of rooftop solar capacity over the next 6 to 7 years.
Actis acquires Stride: Global sustainable infrastructure investor Actis has acquired a 100% stake in Stride Climate Investments of India, which operates a 414 MW DC/371 MW AC solar PV portfolio. These 21 projects are spread across 7 Indian states, mostly Gujarat. Actis has acquired Stride, a solar generation asset portfolio from Macquarie Asset Management. Actis has already invested in BluPine Energy and Athena Renewables in India.
NaBFID financing for RE: Gujarat-based renewable energy company KPI Green Energy Limited has raised INR 2.72 billion ($31 million) from the National Bank for Financing Infrastructure and Development (NaBFID). The proceeds will help partly finance its 50 MW hybrid power project, which comprises 75.2 MW of solar and 16.9 MW of wind capacity. The Bharuch-located project is being developed under a 25-year power purchase agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL). The company aims to reach the goal of 10 GW of renewable energy capacity by 2030.
NaBFID has also approved INR 17.87 billion ($210 million) for Actis-backed BluPine Energy. The latter announced that this funding will enable it to lower debt servicing costs, improve cash flow and financial flexibility. It will deploy the proceeds to repower existing solar assets and enhance their efficiency and operational effectiveness.
