Mashreq to Set up Unit in India’s Special Economic Zone

IFC to Invest $55 Million in IndiGrid’s Project in Gujarat

International Finance Corporation (IFC) is collaborating with IndiGrid to develop a renewable energy project in Gujarat. This project will be a battery energy storage project.  IFC will invest $55 million as long-term funding in IndiGrid. Out of this investment, $38.5 million is IFC’s own investment, and the rest $16.5 million is a low-interest loan borrowed from the CleanTech Fund.  This funding is a non-convertible debenture, that is, it canno…

Mashreq to set up unit in India’s special economic zone

UAE lender Mashreq has received in-principle approval to establish an international banking unit in India’s special economic zone, which is expected to enhance bilateral trade and investment. The green light enables the Dubai-listed lender to establish a new international banking unit within the Gujarat International Finance Tec-City (Gift City). The branch is expected to go live by the fourth quarter of 2025, subject to regulatory clearances, I…

World Bank’s IFC commits financing to KKR-backed investor’s 360MWh battery storage project in Gujarat, India

The International Finance Corporation (IFC) will loan IR4.6 billion (US$55 million) to infrastructure investor IndiGrid for a standalone battery storage project in Gujarat, India.

IndiGrid, IFC partner to build 180 MW/360 MWh battery storage project in Gujarat

International Finance Corp. (IFC) has committed INR 4.6 billion (around $55 million) in long-term financing to IndiGrid to support the deployment of a 180 MW/360 MWh standalone battery energy storage system project in Gujarat.IndiGrid, India’s first publicly listed power sector Infrastructure Investment Trust, and International Finance Corp. (IFC), a member of the World Bank Group, have partnered to develop a 180 MW/360 MWh standalone battery en…