Mergers & Acquisitions

Gensol Engineering Ltd has acquired Pune-based Scorpius Trackers for INR 135 crore ($16.42 million). The acquisition allows Gensol Engineering to offer a comprehensive solar EPC package that includes Scorpius Trackers’ innovative solar tracking technology.

The solar plant is purportedly located in Gujarat and benefits from supplying power to the state-owned power distribution utility.

The developer’s arm Adani Renewable Energy Holding Two has signed a deal to acquire a 50% stake in Essel Saurya Urja Co. of Rajasthan Ltd (ESUCRL) from Essel Infraprojects Ltd, for INR 15 crore. The remaining 50% equity of ESUCRL will continue to be held by the Government of Rajasthan.

The Indian multinational EPC provider has sold its 51% stake in L&T Infrastructure Development Projects to a platform backed by Edelweiss Alternatives.

BluPine Energy, launched earlier this year by UK investor Actis, targets 4 GW of utility-scale solar, wind and storage projects in India by adopting a buy-and-build strategy.

US-based Enfinity Global has commissioned 135 MW of solar projects in Maharashtra. It has also acquired 70 MW of operational assets in Telangana and Karnataka.

Sembcorp Green Infra has signed the agreement to acquire Mumbai-based renewable power producer Vector Green, which has a cumulative 583 MW of solar and wind portfolio in India.

Tamil Nadu-headquartered SunEdison Infrastructure Ltd will now be known as Refex Renewables & Infrastructure Ltd.

India’s Reliance Industries Ltd (RIL) is realigning its engineering, procurement, and construction (EPC) resources to create a focused EPC undertaking for implementing its large projects across New Energy, oil-to-chemicals, and 5G roll-out.

Borosil Renewables had signed a binding offer for 100% equity in Interfloat Group, Europe’s largest solar glass manufacturer, in April this year.