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Green Financing

Shriram Finance eyes 20-fold growth over next 3 years in green portfolio

Green finance, which is financing of businesses that support environmentally friendly and sustainable projects, has struggled to pick up in India due to limited awareness, high transaction costs

Updated On: 11 Feb 2025 | 4:44 PM IST

Shriram Finance bets on green financing, targets Rs 5,000 cr AUM in 3 years

The green financing vertical will finance EVs, renewable energy products, energy-efficient machinery, and other sustainable solutions

Updated On: 03 Feb 2025 | 5:42 PM IST

Tax super-rich, fund just and green future: Greenpeace's poster at WEF

In a rare occurrence, rights group Greenpeace on Tuesday put up a poster inside the main venue of the World Economic Forum Annual Meeting here, calling for taxing the super-rich. "Tax the super rich. Fund a just & green future," read the yellow poster with black letters held by two volunteers in green T-shirts on a balcony right outside the Congress hall minutes before the opening plenary was to begin there. Greenpeace International, whose executive director Mads Christensen is participating in the meeting, is an independent campaigning organisation that uses non-violent creative confrontation to expose environmental problems. Earlier on Monday, Greenpeace activists from various countries blocked the arrivals of the participants of the World Economic Forum in Davos, Switzerland at the Lago heliport. In a statement, Greenpeace said, "As the planet burns and the rich grow richer, the link between inequality and environmental destruction becomes undeniable. "The richest 1 per cent ..

Updated On: 21 Jan 2025 | 4:07 PM IST

Shriram Finance consolidate green finance biz under Shriram Green Finance

Building on its existing expertise in financing electric vehicles, Shriram Green Finance will provide sharper focus and clarity to its sustainability efforts

Updated On: 20 Dec 2024 | 11:10 PM IST

Australia's Arafura Rare Earths secures $300 mn in finance from Canada

The Nolans project is slated to be the country's third rare earths processing plant

Updated On: 27 May 2024 | 8:38 AM IST

Chinese biofuel firms invest in 'green' jet fuel, eye new blending rule

The world's second-largest aviation market, with about 11 per cent of global jet fuel use, China is expected to unveil this year its policy on sustainable aviation fuel (SAF) use for 2030

Updated On: 17 May 2024 | 8:43 AM IST

Net-zero goal: Interim budget focuses on green economy, climate investments

In an effort to achieve net-zero carbon emissions, India will solarise rooftops of one crore households and provide viability gap funding for harnessing offshore wind energy potential with an initial capacity of one gigawatt, Finance Minister Nirmala Sitharaman said on Thursday. Presenting the interim budget for 2024-25, she also said that the government will mandate the phased blending of compressed biogas (CBG) in compressed natural gas (CNG) for transport and natural gas (PNG) for domestic purposes. The finance minister emphasised that the government would enable one crore households to obtain up to 300 units of free electricity every month through the rooftop solar programme. This will result in savings of up to Rs 18,000 annually for households from free solar electricity and selling the surplus to distribution companies, Sitharaman said. According to an analysis by the Council on Energy, Environment, and Water (CEEW), 20-25 gigawatts of rooftop solar capacity could be support

Updated On: 01 Feb 2024 | 5:52 PM IST

Sadhana Nitro Chem to set up green hydrogen facility; to raise Rs 50 cr

Sadhana Nitro Chem Ltd, which manufactures intermediate specialty chemicals, on Monday said it will set up a green hydrogen facility for captive usage and launch a rights issue to raise up to Rs 50 crore. In a regulatory filing, the company said it "will foray into land green energy for captive usage (self-consumption). The company will set up a green hydrogen facility, based on a solar plant and wind farm with a capacity of 15MW-20MW." The board also approved a rights issue, subject to necessary approvals from regulatory authorities. The rights shares are being offered at Rs 121 per share (a premium of Rs 120), and the company will look to raise up to Rs 49.95 crore. The funds for the rights issue will be mainly used for the acquisition of a 126-acre land plot. This land will be strategically employed for the establishment of both a solar power facility and a wind energy installation. "These sustainable energy sources will be harnessed to generate electricity, which, in turn, wil

Updated On: 04 Dec 2023 | 4:50 PM IST

COP28: UAE president announces $30 bn fund to bridge climate finance gap

In collaboration with global asset managers BlackRock, Brookfield and TPG, ALTÉRRA has committed $6.5 billion to climate-dedicated funds for global investments, including the Global South

Updated On: 01 Dec 2023 | 4:05 PM IST

COP28 boosts green financing; UAE holds 19% of global sustainable bonds

Al-Natoor noted that there have been no governmental Sukuk issuances within this framework to date

Updated On: 19 Nov 2023 | 10:14 PM IST

Rs 5,000 cr sovereign green bond sale to test demand amid higher rates

The debut sale in January raised 80 billion rupees, garnering a so-called greenium of six basis points over the benchmark yield

Updated On: 10 Nov 2023 | 7:41 AM IST

Adani Green in talks to borrow $1.8 billion loan from foreign lenders

The loan proceeds will be used to build new capacity in solar and wind projects, said the people, who asked not to be named as the matter is private

Updated On: 02 Nov 2023 | 11:29 PM IST

Green deposits offering higher interest than regular FDs, should you pick

Green deposits are essentially deposits raised for the purpose of utilising the proceeds towards financing of green projects/activities

Updated On: 26 Oct 2023 | 4:45 PM IST

AU Small Finance Bank launches its first Green FD: All you need to know

he Green Fixed Deposit offers an interest rate of up to 8.50 per cent, with a minimum investment requirement of Rs 5,000.

Updated On: 25 Oct 2023 | 7:14 PM IST

NLCIL incorporates wholly-owned arm NIGEL for commissioning green projects

NLC India Ltd on Monday said it has incorporated a wholly owned arm NLC India Green Energy Ltd (NIGEL) for commissioning of green projects. NIGEL will take care of planning, participating in upcoming renewable energy tenders, execution and commissioning of green energy projects, NLC India Ltd (NLCIL) said in a statement. The arm is likely to achieve 5 GW capacity by 2030 and contribute for carbon emission reduction, NLCIL Chairman and Managing Director Prasanna Kumar Motupalli said. The navratna public sector undertaking has already incorporated a wholly owned arm NLC India Renewables Ltd for asset monetisation. At present, 2 GW of renewable energy projects are under implementation and will be taken up by NIGEL, including 600 MW solar power project in Gujarat and 810 MW solar photovoltaic power project in Rajasthan. The company's registered office is in Chennai and will start business operations in due course, as per the statement.

Updated On: 16 Oct 2023 | 8:23 PM IST

SBI borrowers to get special credits for green initiatives: Chairman

State Bank of India is working out the risk matrix for its borrowers wherein it gives some special credits for those embarking on green initiatives, Chairman Dinesh Khara said here on Monday. Since recently, the nation's largest lender has also been measuring the carbon footprint of its Rs 33-lakh crore portfolio at the account level in an attempt to mitigate climate risks and provide sustainable financing, he said. At the bank level we have started working out the risk matrix of our borrowers wherein we give some special credits to those embarking on green initiatives, the chairman said at a Ficci event here. However, he did not elaborate. Khara, who has been warning against green-washing, also called for better project reports for green financing so that the information asymmetry that plagues the green funding space can be mitigated. He also stressed on the need for a policy framework to promote the awareness on green finance ecosystem. There is a need for the chartered accoun

Updated On: 09 Oct 2023 | 2:49 PM IST

GreenCell, SCB ink green financing deal for Surat E-Mobility project

Electric mobility player GreenCell Mobility on Thursday said it has signed a green financing deal with Standard Chartered Bank for its Rs 125-crore Surat E-Mobility project. Surat E-Mobility project consists of 150 electric buses in Gujarat and aims to reduce 1 lakh tonne of CO2 emissions over the project lifetime, the company said in a statement. "GreenCell has availed green loan by the leading global bank, Standard Chartered Bank, in a significant move to step up our efforts towards transforming India's electric transportation landscape. "The green financing secured for our project will not only boost our operations but also reaffirm our leadership in the e-mobility sector in India," GreenCell Mobility CEO and Managing Director Devndra Chawla said. The company claimed that this is the first green loan project finance facility for an e-mobility project in India and globally by the Standard Chartered Bank. "We are delighted to support GreenCell Mobility on this landmark financing,

Updated On: 28 Sep 2023 | 3:25 PM IST

Refex group expands Green Mobility business, to add 10,000 EVs in 3 years

The city-based Refex group engaged in diverse businesses has expanded its Green Mobility vertical here, a top official said on Monday. The company had launched the Refex Green Mobility Ltd business in Bengaluru in March this year and has now forayed into the Tamil Nadu market, Refex Group Managing Director Anil Jain said. According to him, the company currently has 497 electric vehicles, nine clients including one in Chennai and engaged in discussions with 30 other customers under the Green Mobility vertical. Jain, in an interaction with PTI said, the company serves clients in the transportation of their employees from office to residence or residence to office with battery operated vehicles as against the earlier mode of transport which is on vehicles run on internal combustion engine (ICE). "We are an employee transportation company catering to B2B (business to business). We want to cater to corporates across India. We started the operations in Bengaluru in March, now we have ...

Updated On: 25 Sep 2023 | 4:45 PM IST

Green funding: SBI to bundle home loans with rooftop solar installations

The country's largest lender SBI plans to bundle and make home loans with rooftop solar installations mandatory for residential projects funded from the bank's long term climate action funds drawn down from multilateral agencies. The SBI, which has a home loan book of over Rs 6.3 lakh crore as of June, has outstanding forex loans of USD 2.3 billion from multilateral lenders, including the World Bank, the Asian Development Bank, and KfW of Germany. "We are planning to make it mandatory for builders to make rooftop solar installations if the project is funded from our green funds," Ashwini Kumar Tewari, a Managing Director in charge of international banking, information technology and associates & subsidiaries at SBI, said. "We are, in fact, planning to make it a bundled deal for home loan applicants going forward," Tewari told reporters here on Thursday on the sidelines of the final day of the global SME summit organised by Sidbi. These loans come with 10-year or 20-year tenors ...

Updated On: 15 Sep 2023 | 7:31 PM IST

ADB commits concessional loan to India under Green Financing facility

The Asian Development Bank (ADB) on Sunday assured India to provide concessional loans under the Green Financing facility to help in achieving its vision. ADB President Masasugu Asakawa, who is in Delhi to attend the G20 Leaders' Summit, on Sunday met Finance Minister Nirmala Sitharaman. During the bilateral meeting, both discussed the outcome of G20 India Presidency and ADB contribution to G20 work streams under the Finance Track as well as the Sherpa Track. Asakawa appreciated the Indian Presidency's efforts towards realising the agenda of 'One Earth, One Family, One Future', the finance ministry said in a post on X. "Mr. Asakawa @ADBPresident reiterated that @ADB_HQ aims to be the climate bank for the Asia and Pacific and committed that a #GreenFinancing facility is being developed by @ADB_HQ for providing concessional finance for India to realise this vision," it said. During the meeting, the Finance Minister mentioned that the role of all MDBs, including ADB, in the preparati

Updated On: 10 Sep 2023 | 10:28 PM IST