State-run Power Finance Corp has announced that it has sanctioned financial assistance of INR27.04 billion (US$405 million) for West Bengal`s first super critical thermal power project located in Murshidabad district.
Energy Finance & Investment News in India
India’s Infrastructure Leasing & Financial Services Limited (IL&FS) has announced it has contractect the Spanish company Gamesa to build a 50 MW wind farm in in the state of Madhya Pradesh.
Renewable energy firm Inox Renewables Ltd has announced it has agreed to sell its operating wind power farms to wind power company Leap Green Energy Pvt, majority-owned by JPMorgan Chase & Co.
Record-low bids of INR3,460 (US$51.79) per MWh has been drawn in India’s first ever auction targeting 1 GW of wind power capacity.
A total of 20 firms have submitted their respective proposals for the 750-MW Rewa ultra-mega solar power project to be developed in Madhya Pradesh, India.
As part of its efforts to scale up private sector-led infrastructure development in Asia and the Pacific and boost support for clean energy, the Asian Development Bank (ADB) approved a new US$390 million financing package for ReNew Power to develop renewable energy projects in India. The financing will assist 7 special purpose vehicles owned by ReNew Power, the first of which has also been signed.
Sterlite Power Transmission Limited has achieved financial closure for its transmission project that will increase electricity supply to residential, commercial and industrial establishments in Haryana, India.
InfraCo Asia Development Pte. Ltd., part of the Private Infrastructure Development Group (PIDG), has announced the signing of two separate Joint Investment and Development Agreements (JIDA), Subscription Agreements (SSA), Shareholders Agreements (SHA) with Virtuaal Infrapower.
BGR Energy Systems, has won the contract from Neyveli Uttar Pradesh Power Limited (NUPPL) for 3 x 660 MW (1,980 MW) Super Critical Thermal Power Project at Ghatampur, Uttar Pradesh.
Solar Energy Corporation of India (SECI) has launched a tender of 1000 MW capacity for development of grid-connected rooftop solar capacity for Central Government Ministries/Departments.
Greenko Energy Holdings has completed the acquisition of SunEdison’s 587 MW Indian wind and solar projects for a cash payment of US$42 million and assumption of project-level debt of US$350 million (at an average interest rate of 11.3 percent). The enterprise value of the transaction is approximately US$392 million.
Suzlon Group has announced a joint venture with Ostro Energy for the development and construction of a 50 MW solar project at Wanaparthy site, Telangana (India).
The India infrastructure fund of IDFC Alternatives has purchased three solar projects, totalling 45 MW, in Punjab and Rajasthan (India) from Punj Lloyd.
Suzlon Group has announced joint ventures with the Unisun Energy Group and Canadian Solar for the development and construction of 45 MW Solar PV Projects located in Telangana (India).
GMR Energy Limited, a subsidiary of GMR Infrastructure Ltd has announced allotment of 30% stake to Tenaga Nasional Berhad, Malaysia for a cash consideration of USD$300 million, implying an Equity value of USD$1 billion.
The Government of India has set an ambitious target of achieving 175 GW power capacity from renewable energy resources by 2022 and out of this 60 GW is to come from wind power.
Rosneft and a consortium of Trafigura and United Capital Partners have signed agreements to acquire 98% in Essar Oil Limited (EOL).
Reliance Infrastructure has announced the agreement with Adani Transmission to sell its power transmission assets in India.
Jindal Steel & Power Ltd (JSPL) has agreed to to divest its wind power project at Satara in Maharashtra to India Infrastructure Fund II managed by IDFC Alternatives. Details of the transaction has not yet been disclosed.