170 MW solar in Nepal: Golyan Group, a business conglomerate in Nepal, has roped in Prozeal Green Energy Nepal, part of India’s Prozeal Green Energy Limited, to provide EPC services for a 170 MW solar power project. The capacity will be established in the form of 8 projects, spread across 7 locations, namely Kanchanpur, Bardiya, Banke, Rolpa, Kapilvastu, and Nawalparasi. Golyan Group, which is active in the hydropower space, says this project will drive clean energy forward in Nepal and contribute to sustainability. The duo had announced a joint venture to install over 500 MW of solar capacity in Nepal over the next 2 years (see Indian Solar EPC Prozeal Green Energy To Go Public).
Series A funding for NRN: Australian distributed energy company National Renewable Network (NRN) has raised AUD 67.2 million ($44 million) Series A funding, calling it one of the largest ever in the Australian climate tech space. It comprises equity and debt from a host of investors led by Investible, Virescent Ventures, Electrifi Ventures, Ecotone Partners’ Planet Fund, and a major commitment from Infradebt managed funds, including the Australian Ethical Infrastructure Debt Fund. NRN says this funding round coincides with a massive surge in interest in solar, battery, and virtual power plants (VPP) in the country. With this round, NRN’s total funding now exceeds $85 million, which is expected to deploy an additional 40 MWh of battery storage over the next 12 months.
PHP 4.4 billion for 125 MW project: Citicore Renewable Energy Corporation (CREC) has raised PHP 4.4 billion ($77 million) to complete its 125 MW Citicore Solar (CS) Pangasinan project in Sta. Barabara, Pangasinan, Philippines. It raised the project finance loan from Security Bank Corporation and Security Bank Capital Investment Corporation. This is a priority project for CREC as part of its goal to achieve 5 GW in 5 years.
Floating solar plants in Sri Lanka: The Sri Lankan cabinet has given its go-ahead to the Ministry of Power to launch a call for proposals to seek consultancy services for floating solar power projects in the country. Selected consultants will be required to carry-out feasibility studies and environmental impact assessments. as Sri Lanka seeks to explore its 3 GW floating solar potential on 10% surface area, as identified in the Renewable Energy Resources Development Plan 2026-2030, according to local media reports. Sri Lanka aims to generate 70% of its electricity from renewables by 2030 and achieve carbon neutrality in electricity generation by 2050.
