Adani Green Energy Limited (AGEL), has signed a securities purchase agreement for acquisition of 205 MW operating solar assets of Essel Green Energy Private Limited (EGEPL) and Essel Infraprojects Limited (EIL). The assets are located in Punjab, Karnataka and Uttar Pradesh. All the assets have long term Power Purchase Agreements (PPAs) with various state electricity distribution companies. The portfolio is relatively young with average remaining PPA life of approximately 22 years.
The closing of the transaction is subject to customary approvals and conditions. The acquisition of these assets is at an enterprise valuation of approximately INR 1,300 crore (US$18.13 million). The existing long-term funding will continue.
IL&FS has filed the proposal to complete the sale of its stake in the Wind Energy business (874 MW), held under IL&FS Wind Energy Limited (IWEL) to ORIX Corporation of Japan, with NCLT fo...
Read moreThe Uttar Pradesh Electricity Regulatory Commission (UPERC) has approved the bids of ReNew Power to develop two packages of the 150 MW floating solar projects in Rihand Dam, also known as Govind...
Read moreState-owned engineering firm Bharat Heavy Electricals Ltd (BHEL) has won an engineering, procurement and construction (EPC) contract worth INR100 million (US$14.57 million) from National Thermal...
Read moreThe Maharashtra State Power Generation Company has announced that it has released a Notice Inviting Tenders (NIT), inviting bids from eligible parties for the deployment of 137 MW of solar power proje...
Read moreAvaada Energy, one of the leading Independent Power Producers (IPP) in India, has commissioned over 1.8 GW of renewable assets ( Solar and Wind ) and is in the process of implementing 2 GW of open acc...
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