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Q2: India's solar energy investment exceeded $2 billion and returned to pre-pandemic levels

 Last Update: 2023-01-03
 Source: Internet
 Author: User

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Investment in India's solar sector grew 119% quarter-on-quarter to over $2 billion
in the second quarter of 2021.
However, investment has increased by a staggering 2,170%
compared to last year's pandemic.

The second wave of the Covid-19 pandemic also affected the country's overall investment situation in the second quarter of 2021, but not as bad
as last year.
Driven by new manufacturing facilities announced this quarter, investment in the solar industry has returned to pre-pandemic levels
.

According to the report, investment in utility-scale solar was approximately $1 billion in the second quarter of 2021, an increase of 17%
compared to the first quarter of 2021.
At the same time, investment in the rooftop sector increased by 73%
compared to the previous quarter.

There is also investment in the manufacturing sector, with the company expanding capacity
after announcing basic tariffs on imported modules and batteries and enforcing the approved Model and Manufacturer List (ALMM) terms for the project.
Investment in the first half of 2021 has surged to more than $3 billion, up 210%
compared to the same period last year.

For example, Adani Green Energy Limited signed a share purchase agreement to acquire 100% of SB Energy India from SoftBank Group (80%) and Barty Group (20%) respectively
.
The transaction values SB Energy India's business at approximately $3.
5 billion.

ReNew Power received $585 million
through green bonds listed on the Indian International Exchange Global Securities Market at the GIFT International Financial Services Centre.
The bonds have a maturity maturity of 7.
25 years and a rating of BB-
by Fitch.
These products are available at a competitive
interest rate of 4.
50% per annum.

Distributed solar company Fourth Partner Energy raised $125 million in equity financing
.
Norwegian investment fund Norfund brought in $100 million in investment, while existing shareholder Rise Fund invested $25 million
.

CDC Group, a UK-owned financial development agency, announced a US$33.
44 million investment in distributed solar company Fourth Partner Energy.

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