Industry News

GIC and Abu Dhabi Investment Authority Invests USD155 Million in Greenko Energy

Greenko Energy Holdings, a renewable energy company announced raising USD155 million from existing investors, Abu Dhabi Investment Authority (ADIA) and Singapore’s sovereign wealth fund, GIC.

India: In one of the largest fund raising exercise in the renewable energy sector, Greenko Energy will use the proceeds from fund raising to grow its clean energy portfolio from existing 2 GW (Giga Watts) to 3GW. The company is raising funds to propel growth in its renewable energy portfoilio. This funding is in complement to last year’s funding where it raised USD230 million from ADIA and an affiliate of GIC Singapore at a valuation of USD1 billion. The company plans to develop new renewable projects including the newly acquired solar projects.

TechSci Research depicts that the constantly improving solar equipment technologies, advanced manufacturing processes for production of hi-tech equipment and anticipated decline in equipment prices is projected to further drive the solar equipment market in India over the next five years. Furthermore, the launch of Jawaharlal Nehru National Solar Mission by Government of India in 2010 has been a major initiative taken to promote sustainable development of the solar energy sector in the country. These positive developments happening in Indian solar power sector are expected to positively influence solar equipment market in India during the forecast period.

According to released report of TechSci Research “India Solar Power Equipment Market Forecast & Opportunities, 2020”, the solar power equipment market in India is projected to surpass USD4 billion by 2020, wherein solar energy would be generated by employing photovoltaic (PV) and concentrated solar power (CSP) technologies across the country. Constantly improving solar equipment technologies, advanced manufacturing processes for production of hi-tech equipment and anticipated decline in equipment prices is projected to further drive the solar equipment market over the next five years

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United States Solar Energy Solutions Market Segmented By Type (Photovoltaic Cells, Concentrated Solar Power Systems), By Application (Agriculture & Horticulture, Architecture, Transportation & Others), By Region, and By Competition

Power | Feb, 2024

The United States solar energy solutions market is rising due to increasing environmental awareness, declining solar technology costs, and supportive government policies incentivizing renewable energy adoption during the forecast period 2025-2029

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