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Time of India
4 days ago
- Business
- Time of India
ISA to launch $200 mn finance facility for Africa at Sixth Regional Meet in Brussels
New Delhi: The International Solar Alliance (ISA) will launch a $200 million catalytic finance facility for Africa as part of its evolving vision, during the Sixth Regional Committee Meeting (RCM) for the Europe and Others Region, scheduled to be held from June 10 to 12 in Brussels, Belgium. The meeting will witness participation from 51 countries, including 15 Member Countries, 4 Signatory Countries, and 32 Prospective Countries engaged in ISA activities within the region. The RCM will bring together government representatives, technical universities, think tanks, institutional partners, and private sector leaders to advance solar deployment through multilateral cooperation. According to ISA, the facility aims to provide catalytic and blended finance for risk mitigation to promote private investment in Africa. Of the $200 million target, $74 million has been mobilised. The facility will also lead to subsequent expansion in Asia and the Pacific, Latin America, and the Caribbean. ISA Director General Ashish Khanna said, "The Sixth Regional Committee Meeting of the International Solar Alliance for Europe and the Others Region will be a pivotal platform to advance collaborative action on solar energy . As part of an evolving vision, ISA is ready to launch a $200 mn catalytic finance facility for Africa, seeking to combine 10 existing national centres of excellence in Member Countries with a Global Capability Centre providing cutting edge AI and digital solutions to all our Member Countries, initiating technology policy and roadmaps solutions and selectively pursuing regional and country platforms for transformational change. This Meeting will reaffirm our commitment to building a cleaner, more resilient energy future through multilateral cooperation and public-private synergy." The theme of this year's meeting is 'Elevating the Region's Role in the Global Solar Transition'. The meeting is anchored by the regional leadership of Germany and Italy as Vice Presidents for the Region, and is supported by the Embassy of India in Belgium, Luxembourg, and the European Union. 'The International Solar Alliance extends its sincere appreciation to all our esteemed partners whose support has been instrumental in shaping the Sixth Regional Committee Meeting. We are particularly grateful to the Vice Presidents from the Region, Germany and France, the Embassy of India in Belgium, and the European Union. Your strategic collaboration strengthens our collective efforts to accelerate the global solar transition,' Khanna said. The Sixth RCM will address ISA's key priorities including finance, digital infrastructure, capacity building, and solar technology policy. The Global Capability Centre and digitisation initiative, under the hub-and-spoke model, will connect existing national centres of excellence operating as STAR-C. It will also focus on mainstreaming innovation through the Solar X Startup Challenge, replicating the success of Solar Energy Corporation of India in Africa, and providing technical assistance to Member Countries. The meeting will also focus on regional and country-level engagement through a selective platform for aggregation and scaling, including the SIDS platform, which is focused on e-tendering and e-procurement. The Technology Roadmap and Policy component will support ISA Member Countries in managing the uptake of solar energy, with focus on solar supply chain diversification and adoption of new and emerging technologies. Thematic sessions at the RCM will be aligned with specific implementation goals: 1. The Solar Global Capability Centre (GCC) will be co-designed through collaboration with training institutions, technical universities, and think tanks to develop training modules, certification programmes, and institutional frameworks. This is expected to complement the partnership between EU member states and STAR Centres for building solar capacity and innovation. 2. The Policy Innovation and Roadmaps session will address the requirement for comprehensive national solar strategies in over 80 per cent of ISA Member Countries. Structured policy dialogues will enable the Europe and Others Region to contribute to policy ecosystems that reduce investment risks and facilitate finance mobilisation. 3. The Digital Public Infrastructure for Energy will focus on AI-driven energy management systems, digital twins, and digital procurement platforms that aim to reduce system costs and improve integration of renewable energy. 4. The Mobilising Private Sector Capital session will be driven by the ISA CEO Caucus. ISA notes that over 70 per cent of global net-zero investments are expected to come from the private sector. The Caucus will act as a high-level forum to promote public-private partnerships and co-investment strategies in emerging markets. The Regional Committees of the ISA meet annually and are chaired by two Vice Presidents from the respective region. The committees assess progress and discuss challenges related to ISA's programme support, flagship initiatives, partnerships, private sector engagement, and regional work plans. According to ISA, the Regional Committee Meetings are intended to ensure coordination among Member Countries and facilitate joint actions. The growing participation from 51 countries in the Europe and Others Region is expected to strengthen collaborative solar initiatives and enhance regional and global engagement.
Time of India
30-04-2025
- Business
- Time of India
Adani Green aims 5 GW of clean energy addition in FY26 at $3.6 billion capex
MUMBAI: Adani Green Energy has planned a capital expenditure of $3.64 billion to add 5 gigawatt of clean energy in the current fiscal year, CEO Ashish Khanna told analysts on Tuesday. This capacity addition target is nearly 50 per cent higher than last fiscal year. "We have a comprehensive capital management framework to fully fund our growth up to 50 GW by 2030 while maintaining a strict credit discipline," Khanna said during an analyst call, adding that the company's fiscal 2026 capex is fully funded from a debt and equity perspective. Adani Green is developing a 30 GW renewable energy plant at Khavda in Gujarat. On Monday, the company reported a 23.5 per cent year-on-year increase in net profit at Rs 383 crore for the March quarter. For the fiscal year ended March 31, it posted a 59 per cent jump in profit at Rs 2,001 crore. Total income rose 15 per cent from a year earlier to Rs 3,278 crore in the fourth quarter and 18 per cent to Rs 12,422 crore in the fiscal year. Revenue from power supply during the quarter increased 37 per cent to Rs 2,666 crore, while for the full fiscal, it rose 23 per cent to Rs 9,495 crore. Ebitda from power supply surpassed ?8,818 crore for the fiscal year, up 22 per cent from the year before. In FY25, Adani Green added 3.3 GW of greenfield capacity, contributing 16 per cent to the nation's utility-scale solar and 14 per cent to wind energy additions. Greenfield additions in FY25 included 1,460 MW of solar capacity and 599 MW of wind capacity in Khavda, 1,000 MW of solar capacity in Rajasthan, and 250 MW of solar capacity in Andhra Pradesh.
Economic Times
29-04-2025
- Business
- Economic Times
Adani Green aims 5 GW of clean energy addition in FY26 at $3.6 billion capex
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel MUMBAI: Adani Green Energy has planned a capital expenditure of $3.64 billion to add 5 gigawatt of clean energy in the current fiscal year, CEO Ashish Khanna told analysts on Tuesday. This capacity addition target is nearly 50% higher than last fiscal year."We have a comprehensive capital management framework to fully fund our growth up to 50 GW by 2030 while maintaining a strict credit discipline," Khanna said during an analyst call, adding that the company's fiscal 2026 capex is fully funded from a debt and equity perspective. Adani Green is developing a 30 GW renewable energy plant at Khavda in Monday, the company reported a 23.5% year-on-year increase in net profit at Rs 383 crore for the March quarter. For the fiscal year ended March 31, it posted a 59% jump in profit at Rs 2,001 income rose 15% from a year earlier to Rs 3,278 crore in the fourth quarter and 18% to Rs 12,422 crore in the fiscal year. Revenue from power supply during the quarter increased 37% to Rs 2,666 crore, while for the full fiscal, it rose 23% to Rs 9,495 from power supply surpassed ?8,818 crore for the fiscal year, up 22% from the year FY25, Adani Green added 3.3 GW of greenfield capacity, contributing 16% to the nation's utility-scale solar and 14% to wind energy additions. Greenfield additions in FY25 included 1,460 MW of solar capacity and 599 MW of wind capacity in Khavda, 1,000 MW of solar capacity in Rajasthan, and 250 MW of solar capacity in Andhra Pradesh.
Reuters
29-04-2025
- Business
- Reuters
India's Adani Green aims 5 GW of clean energy addition in FY26 at $3.6 bln capex
April 29 (Reuters) - India's Adani Green Energy ( opens new tab plans to spend 310 billion rupees ($3.64 billion) in capital expenditure to add 5 gigawatts of clean energy in the current fiscal year, CEO Ashish Khanna said on Tuesday. The capacity addition target is over 50% higher than last year. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. "We have a comprehensive capital management framework to fully fund our growth up to 50 GW by 2030, while maintaining a strict credit discipline," Khanna said in a call with analysts. Adani Green, which has about 14.2 GW of a clean energy portfolio, is building an energy park in western Gujarat state. The park is planned to be five times the size of Paris on completion and will produce 50 gigawatts, or roughly a tenth of India's clean energy goals, by 2030. The company said its fiscal 2026 capex is fully funded from a debt and equity perspective, is confident of its equity funding to build 50 GW of clean energy projects, and is constantly reviewing the tenure of its debt. Adani Green's clean energy additions come as U.S. authorities have indicted founder Gautam Adani and top Adani Green executives over alleged securities fraud and a $265-million bribery scheme for securing power contracts. The Adani Group has denied the charges, calling them "baseless," and on Monday, Adani Green said its independent review of the indictment did not identify any non-compliance or irregularities. CEO Khanna said on Tuesday that the allegations are against the individuals and not the company. "From the Department of Justice standpoint, while the allegations are there... we should be seeing the positive results on it too from the individual standpoint," Khanna said. ($1 = 85.1380 Indian rupees)
