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    Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman Highlights Key Policy Measures to Promote Export-led Growth at Exim Bank’s Trade Conclave

    Tobacco control efforts protect 6.1 billion people – WHO’s new report

    MB Patil Showcases Karnataka’s Investment Potential During Denmark Roadshow

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    | Meghna Ghodawa-
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    PHOTO CREDIT:The Jamaica Tourist Board (JTB)

    Jamaica Tourism Launches a Brand-New Campaign “70 Days of Jamaica Love” to Celebrate 70 Years of Jamaica

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    *Padma Shri Dr. Prahalad Rama Rao, Project Director (DRDO) felicitated.

    Tata ClassEdge Limited Announces Strategic Collaboration with Tata STRIVE to Bridge Education and Employability

    MiQ Sigma: Built at MiQ’s Bengaluru Centre of Excellence (CoE), the Industry’s First AI Platform That Unifies the Programmatic Ecosystem

    TECNO Gears up to Launch POVA 7 Series with Bold New Delta Interface on July 4, Exclusively on Flipkart

    60% of Indians Sleep less than 6 Hours Nightly as Sleep Supplements Surge 650%

    SOUL Festival Announces its Third Chapter – 9th to 13th October at Soneva Fushi

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    Viridian Financial Group Welcomes Strategic Growth Investment from TA Associates to Expand Leading Diversified Financial Services Business in Australia

    Patrick Vith, CEO of thyssenkrupp Steering (L), with Rajkumar Ravindranathan, Chief Business Officer – EMEA & RoW, LTTS (R).

    L&T Technology Services and thyssenkrupp Steering Business Unit Enter Into a Strategic Partnership to Establish a Global Software Hub in Pune, India

    source:Syngenta Group

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    PHOTO CREDIT:Amruta Fadnavis

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    Lulu Mall Hosts Bangalore’s Biggest Non-Alcoholic Holi Celebration

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    TECNO Gears up to Launch POVA 7 Series with Bold New Delta Interface on July 4, Exclusively on Flipkart

    60% of Indians Sleep less than 6 Hours Nightly as Sleep Supplements Surge 650%

    SOUL Festival Announces its Third Chapter – 9th to 13th October at Soneva Fushi

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  • Home
  • World

    Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman Highlights Key Policy Measures to Promote Export-led Growth at Exim Bank’s Trade Conclave

    Tobacco control efforts protect 6.1 billion people – WHO’s new report

    MB Patil Showcases Karnataka’s Investment Potential During Denmark Roadshow

    Roche’s Lunsumio and Polivy combination significantly prolongs remission for people with relapsed or refractory large B-cell lymphoma

    | Meghna Ghodawa-
PHOTO CREDIT-

    Beat the monsoon greys in style with India’s first UPF resort-wear line by Meghna Ghodawat

    PHOTO CREDIT:The Jamaica Tourist Board (JTB)

    Jamaica Tourism Launches a Brand-New Campaign “70 Days of Jamaica Love” to Celebrate 70 Years of Jamaica

  • National
    • All
    • Economy & Politics
    • Election

    *Padma Shri Dr. Prahalad Rama Rao, Project Director (DRDO) felicitated.

    Tata ClassEdge Limited Announces Strategic Collaboration with Tata STRIVE to Bridge Education and Employability

    MiQ Sigma: Built at MiQ’s Bengaluru Centre of Excellence (CoE), the Industry’s First AI Platform That Unifies the Programmatic Ecosystem

    TECNO Gears up to Launch POVA 7 Series with Bold New Delta Interface on July 4, Exclusively on Flipkart

    60% of Indians Sleep less than 6 Hours Nightly as Sleep Supplements Surge 650%

    SOUL Festival Announces its Third Chapter – 9th to 13th October at Soneva Fushi

  • Business

    Viridian Financial Group Welcomes Strategic Growth Investment from TA Associates to Expand Leading Diversified Financial Services Business in Australia

    Patrick Vith, CEO of thyssenkrupp Steering (L), with Rajkumar Ravindranathan, Chief Business Officer – EMEA & RoW, LTTS (R).

    L&T Technology Services and thyssenkrupp Steering Business Unit Enter Into a Strategic Partnership to Establish a Global Software Hub in Pune, India

    source:Syngenta Group

    Syngenta to become global leader in biologicals; expanding nature inspired solutions for farmers

  • Health

    Apollo Cancer Centres Launches ‘CanWin’.

    Protect and Perfect: How Face Yoga and Sunscreen Can Transform Your Skin

    Panasonic-partners-with-MeitY-Nasscom-Centre

    Panasonic partners with MeitY Nasscom Centre of Excellence (CoE) to accelerate innovation in Smart Residential Living

    Herbalife Logo

    Herbalife’s Aloin Identification Method for Aloe Vera Officially Recognized by AOAC INTERNATIONAL

    “Indian patients no longer need to look abroad for advanced treatment,” said Dr. Sharat Damodar, Senior Consultant, Haematologist and Head of Adult BMT at Narayana Health City, Bengaluru and Chairman of the Oncology Collegium at Narayana Health.

    WHO issues first global guideline to improve pregnancy care for women with sickle cell disease

  • Technology
    • All
    • Environment
    • Science

    MiQ Sigma: Built at MiQ’s Bengaluru Centre of Excellence (CoE), the Industry’s First AI Platform That Unifies the Programmatic Ecosystem

    TECNO Gears up to Launch POVA 7 Series with Bold New Delta Interface on July 4, Exclusively on Flipkart

    Jockey Woman continues to shape India’s intimate wear landscape with strategic expansion

    AMD Unveils Vision for an Open AI Ecosystem, Detailing New Silicon, Software and Systems at Advancing AI 2025

    U.S. Insurers to More than Double AI Investment in the Next 3-5 Years: Wipro Report

    Union Minister for Agriculture and Farmers Welfare Shivraj Singh Chouhan to visit Hyderabad on Monday

  • Auto

    Odysse Electric Clocks 344 Units Sold in June, Records 54% Monthly Growth

    DGCA carries out comprehensive surveillance at major airports, including Delhi and Mumbai

    India Opens Doors to Global EV Giants with Portal Launch under SPMEPCI

    Force Motors along with BMW Group India Celebrates the Roll-Out of its 100,000th engine from the Chennai Plant

  • Sports

    Jockey Woman continues to shape India’s intimate wear landscape with strategic expansion

    BCCI mourns the passing of Dilip Doshi

    PHOTO CREDIT:Amruta Fadnavis

    Amruta Fadnavis Ropes in Arjun Kapoor & Nushrratt Bharuccha for Soulful Yoga Day with 1,000 Marginalised Women

    Union Minister Dr. Mansukh Mandaviya leads Fit India Sundays on Cycle in New Delhi in collaboration with Yogasana Bharat; Says Even One Pedal in cycle is Making India a Fitness Powerhouse

  • Entertainment
    Vogue Wedding Atelier presented by HSBC India at Taj Palace, New Delhi, from 8-10 August 2025

    A New Era in Luxury Weddings – Vogue Wedding Atelier Debuts in India

    GenS Life and Dowith Lit Present ‘Senior Spotlight’: Bengaluru’s Open Mic Celebration for the 55+

    PMJ Jewels Launches PMJ SuperStar Bracelet and ‘Celebrating Daughters’ Campaign

    ‘Waves’ an OTT platform that offers clean family-friendly content: Sunil Bhatiya, Deputy Director General, Doordarshan Kendra, Panaji

    Sri Sai Gold Palace’s 7th store inaugurated in Malleshwaram,Bengaluru.

    Lulu Mall Hosts Bangalore’s Biggest Non-Alcoholic Holi Celebration

  • Lifestyle
    • All
    • Food
    • Travel

    TECNO Gears up to Launch POVA 7 Series with Bold New Delta Interface on July 4, Exclusively on Flipkart

    60% of Indians Sleep less than 6 Hours Nightly as Sleep Supplements Surge 650%

    SOUL Festival Announces its Third Chapter – 9th to 13th October at Soneva Fushi

    Jockey Woman continues to shape India’s intimate wear landscape with strategic expansion

    Anantha Foods Opens Its Third Outlet in Bengaluru

    Board Games & Brews: McCafé hosts community Game Night

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ADB to Invest $15 Million in Avaada Energy to Expand Renewable Energy Capacity in India

FWM by FWM
September 29, 2020
in Business
0

NEW DELHI, INDIA (28 September 2020) —The Asian Development Bank (ADB) has signed an agreement to invest $15 million in INR equivalent in Avaada Energy Private Limited (AEPL) to help the company to scale up photovoltaic solar energy generation capacity in India.

This is ADB’s second investment in AEPL after a first round of $50 million invested in April 2019. The latest investment will come from ADB’s Ordinary Capital Resources and from Leading Asia’s Private Infrastructure Fund (LEAP), each of which will invest $7.5 million. LEAP was established in 2016 by the Japan International Cooperation Agency to finance high quality and sustainable private sector infrastructure projects.

The agreement was signed by the Director of Infrastructure Finance, South Asia, Central Asia, and West Asia at ADB’s Private Sector Operations Department Shantanu Chakraborty and Chair of AEPL Vineet Mittal.

“The project is part of ADB’s ongoing support to India’s renewable energy sector and will help the Government of India meet its targets for clean power generation,” said Mr. Chakraborty. “We are pleased to enhance our commitment in AEPL and expect this investment to send positive signals to global investors to continue supporting the growth of renewable energy in India.”

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“ADB’s investment reinforces the strong support of international development community to India’s efforts at ramping up its clean energy generation,” said Mr. Mittal. “It also validates AEPL’s strong track record and commitment to create cleaner and more sustainable power generation in India.”

AEPL is a leading developer of solar energy projects in India through utility scale, rooftop, and off-grid solar facilities. The company has almost 1 gigawatts (GW) of operational capacity, and with the second round of equity investment will be well placed to expand capacity to more than 3.5 GW.

ADB has supported the development of renewable energy in India since 2007, when it financed initial wind projects under the independent power producer (IPP) model. ADB has subsequently financed solar IPPs through projects under the National Solar Mission and various state policies.

The project will contribute to the Government of India’s strategy to increase the share of renewable energy generation capacity from about 20% in 2018 to 40% by 2030. It reflects ADB’s commitment to provide cumulative climate finance of $80 billion from 2019 to 2030.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

Tags: Avaada Energy Private Limited (AEPL)The Asian Development Bank (ADB)
FWM

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