Mergers & Acquisitions

Mundra Solar Energy will undertake installation and commissioning of solar projects. Kurmitar Iron Ore Mining, on the other hand, will carry out mining activities in the state of Chhattisgarh.

The Chennai-based steam and hot water supply company will acquire 31% of the rooftop solar installer’s equity share capital, instead of 37.5% as agreed upon in July.

The purchased solar portfolio is relatively young with average remaining PPA life of around 22 years.

Following UK-based private equity investor Actis dropping the purchase plan, debt-laden Essel Infraprojects is reportedly negotiating the deal with Adani Group for Rs 1,800-2,000 crore.

Borosil Glass Works plans to consolidate its solar business by amalgamating Gujarat Borosil, Vyline Glass and Fennel Investments, while simultaneously demerging its consumer and scientific glassware business. Post restructuring, Borosil Glass Works will be renamed as Borosil Renewables.

Suzlon Energy is selling Shreyas Solarfarms and Aalok Solarfarms to Ostro Energy—a wholly owned subsidiary of independent power producer ReNew Power—for Rs 19.87 crore and Rs 9.93 crore, respectively.

The German giant – which manufactures central inverters near Mumbai – announced plans last week to acquire Kaco and start a new smart infrastructure business from April 1. In light of those moves, pv magazine spoke to IHS Markit’s Cormac Gilligan about the new kid, albeit huge, on the block.

The German powerhouse – which makes central inverters for PV projects in India – wants to complete the acquisition by July. Indian employees will be hoping target company Kaco’s disposal of its central inverter operation last month will avert job losses by removing any potential overlap between the manufacturers.

General Electric (GE) intends to consolidate all of its renewable and grid assets into a single unit, intensifying focus on the growing renewable energy market.