This is the third round of Greenko investment by Singapore’s sovereign wealth fund GIC Holdings and Abu Dhabi Investment Authority (ADIA), taking their total in the Indian renewable energy firm to $2 billion.
The Chinese solar PV inverter manufacturer expects to touch 3.5-3.6 GW of sales by March 2019 in the country. Expanding its lineup, it plans to launch inverters for residential sector too in the second half of the current year.
The government of India has approved central financial support of more than Rs46,000 crore by 2022 to promote solar among farmers and in the residential sector. The KUSUM scheme for farmers has been allocated Rs34,422 crore and the rooftop solar program Rs11,814 crore.
The plant, situated in district Anatapuramu of Andhra Pradesh, is segregated into two blocks of 100 MW each for better management and higher efficiency. It is expected to power nearly 150,000 homes once connected to the grid.
The Solar Energy Corporation of India has invited bids for the development of an aggregate capacity of 20 MW of lagoon-based floating PV with 60 MWh of battery-based storage systems in the Union Territory of Lakshadweep.
Tariffs retracted distinctly from Rs 2.84 per unit seen in the 700 MW Gujarat solar auction recently, inching closer to the Rs 2.71-2.72 level of Maharashtra’s previous tender.
Magenta Power, a Mumbai-based solar power and electric vehicle charging solutions provider, and Mahindra Susten, renewable arm of US$20.7-billion multinational Mahindra Group, will jointly work towards developing technological solutions and rooftop solar power installations.
Earlier, UK-based private equity investor had reportedly agreed to buy 685 MW of Essel’s solar power projects (including installed and under-construction) for around Rs 4,700 crore.
U.K. developer Lightsource BP – in which oil and gas giant BP has a significant minority stake – and its Singapore fund partner EverSource Capital are reportedly ready to take up all the $100 million slice of Ayana Renewable Power which is being put up for sale.
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