Vector Green raises INR 14 billion for operating solar assets
The Mumbai-based renewable power producer has raised the long-term, non-recourse debt from the Indian Renewable Energy Development Agency Ltd (IREDA). It shall use the amount to finance its operating solar projects in Punjab, Andhra Pradesh, and Telangana.
ICRA improves energy demand outlook for FY2022
The ratings agency expects the energy demand in FY 2021-22 to grow by 8-8.5%. While the increased energy demand will improve the thermal plant load factor (PLF) level, this sector outlook remains negative as the PLF level will remain below 60%.
Adani concludes India’s largest renewables M&A transaction
Adani Green Energy has completed the acquisition of 5 GW of solar and wind assets from SB Energy India for $3.5 billion, marking the largest renewables M&A deal in the country. The acquisition swells Adani’s operational capacity by 46%.
SECL tenders 40 MW solar for self-consumption
Domestic bids are invited to install a 40 MW solar power plant for captive consumption by South Eastern Coalfields Limited. The plant shall come up SECL land in the Surajpur District of Chhattisgarh. Bidding closes on October 15.
NTPC arm signs green term loan pact for 670 MW solar
The renewable energy arm of NTPC signed the pact with the Bank of India to finance its 470 MW solar project in Rajasthan and 200 MW in Gujarat.
Adani Green to buy Essel’s 40 MW solar assets in Odisha
The operating solar assets benefit from a long-term power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) at an INR 4.235/kWh tariff. The remaining PPA life is 22 years.
Renewables vs. Nuclear: 256-0
The latest World Nuclear Industry Status Report shows that the world’s operational nuclear capacity grew by just 400 MW in 2020, with generation falling by 4%. By contrast, renewables grew by 256 GW and clean energy production rose by 13%. “Nuclear power is irrelevant in today’s electricity capacity market,” the report’s main author, Mycle Schneider, told pv magazine.
Developer calls world’s largest solar+storage project ‘the first of many’ to come
The Australian-Singaporean group behind a proposed 20 GW solar PV farm and 42 GWh battery energy storage project under development in Australia’s remote far north has hinted that other, similar-sized projects are already in the pipeline.
KKR-backed Virescent Infrastructure raises US$62 million
Mumbai-headquartered Virescent Infrastructure, set up by US investor KKR to own and operate renewable energy assets in India, has raised INR 4.6 billion (US$62 million) through its renewable energy-focused infrastructure investment trust (InvIT). Canada’s Alberta Investment Management Corporation (AIMCo) led the funding.
SJVN to develop 1 GW solar under CPSU Phase II
The State-owned hydropower producer has landed one-fifth of the 5 GW grid-connected solar capacity tendered under the second phase of the Central Public Sector Undertaking (CPSU) Scheme. It won the project by quoting a viability gap funding (VGF) requirement of INR 44.72 lakh per MW.
