Essel enters agreement for the sale of 310 MW solar portfolio with Adani Group
Essel Infraprojects Ltd, a unit of Essel Group, has entered into an agreement with Adani Group for the sale of a 310 MW solar photovoltaic portfolio for a consideration of up to INR20 billion (US$286.64 million).
Essel Group was in talks with ACME Solar Holdings for the sale of its solar assets in February 2019 but the deal fell through. In May 2019, the company has closed the sale of its two power transmission lines projects to Sekura Energy Ltd, a unit of Edelweiss Infrastructure Yield Plus Fund.
Essel Group plans to sell its infrastructure business including roads, power transmission, and solar energy assets to settle its company debt.
Country updates
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June 26, 2019
Shell, Statkraft bid to buy Continuum Wind Energy Ltd
Royal Dutch Shell and Norwegian utility Statkraft are bidding to buy Indian renewables operator Continuum Wind Energy Ltd. The two are among a clutch of interested parties to submit non-binding bids f...
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June 24, 2019
Tata Power to develop the 100 MW solar PV project in Gujarat
Tata Power Renewable Energy Ltd (TPREL) has been awarded the development a 100 MW solar power project in Raghanesda Solar Park of Gujarat in India. The power generated from the project will be...
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June 21, 2019
NLC India commissions 100 MW solar project
NLC India Ltd. has announced in a regulatory filing that it has commissioned a 100 MW solar photovoltaic power plant in the state of Tamil Nadu. The project has been awarded to NLC India by Tamil Nad...
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June 19, 2019
Greenko raises fund for 2.4 GW of storage projects
Renewable energy company Greenko Energy Holdings has signed definitive agreements for a primary equity funding of US$495 million from an affiliate of GIC and an entity owned by the Abu Dhabi Investmen...
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June 18, 2019
Reliance, BP to develop third offshore gas project in India
Reliance Industries Limited (RIL) and BP has announced the sanction of the MJ project (also known as D55) in Block KG D6, off the east coast of India. MJ is the third of three new projects in the Blo...
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