CLP India, one of the largest foreign investors in the Indian power sector, and Suzlon, India's largest renewable energy solutions provider, have announced a joint venture for two solar projects of 50 MW and 20 MW in Dhule, Maharashtra.
As per the agreement signed between the two parties, CLP India has agreed to acquire a 49% stake in Gale Solarfarms Limited and Tornado Solarfarms Limited, two special purpose vehicles (SPV) set up by Suzlon. CLP India has the option to acquire the balance 51% stake in the future.
CLP will acquire a 49% stake in Gale and Tornado for a cash consideration of INR23.49 billion and INR15.57 billion respectively. The company may then acquire the remaining 51% stake one year after the projects' Commercial Operations Dates, as permissible under their power purchase agreements (PPAs), at a value derived as per the then prevailing pricing guidelines
The solar projects have PPAs with Solar Energy Corporation of India Limited (SECI) for 25 years at 4.115 INR/kWh for 20 MW and 3.66 INR/kWh for 50 MW. Suzlon is responsible for the comprehensive operation and maintenance of these projects.
Vestas has announced that it has received an order from Ecoren Energy for the 20 MW Mullur Wind Farm in Karnataka, a state in the south-west of India. The order includes supply and installation of ni...
Read moreStatkraft has announced the acquisition of 100% of the shares in NSL Tidong Power Generation Private Limited, the project company for the Tidong hydropower project. Approximately 60% co...
Read moreReliance Infrastructure Limited has announced the successful completion of the sale of its 100% shareholding in Integrated Mumbai Power Distribution Business to Adani Transmission Ltd. The deal was a...
Read moreReNew Power Limited has announced the successful commissioning of Phase 1 (126 MW) of its 250 MW wind project located in Kutch district of Gujarat. The 250 MW wind power project was won at a tariff o...
Read moreTotal has announced that it has signed a binding Letter of Intent (LOI) with Shell for the sale of its 26% minority equity stake in Hazira LNG regasification terminal in India. The transaction remains...
Read more