Mergers & Acquisitions

Mahindra & Mahindra cancels pact to sell solar arm

The company cited delay in sale completion of Neo Solren as the reason for the pact’s cancellation with CLP India. The subsidiary was formed to set up and operate solar plants in Telangana.

RattanIndia sells 306 MW solar assets to GIP

The coal-fired power generator is exploring new avenues of business with thrust on sectors that do not require huge amount of debt and are focused on new technologies. It has decided to participate in coal block auction process with a view to profitably mine and sell coal commercially.

Mahindra & Mahindra forms a new solar subsidiary

Martial Solren Private Limited has been incorporated in Mumbai as a wholly-owned subsidiary of solar EPC business Mahindra Susten.

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Malaysia’s Yinson increases stake in India solar plant to 95%

Having acquired a 37.5% stake in March, Yinson has now agreed to buy an additional 57.5% equity interest in Indian independent power producer Rising Sun Energy (RSE) with a cumulative operational capacity of 140 MW (AC) in the Bhadla Solar Park.

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Manikaran Power, south Korea’s KEPCO join hands to acquire stressed power plants in India

The New Delhi-headquartered power trading company has signed a Memorandum of Understanding with the South Korean power plant maintenance specialist to acquire and revive stressed assets in the power sector.

Siemens gets CCI nod to acquire C&S Electric

Certain businesses such as engineering, procurement, and construction shall be retained by the existing promoters of C&S Electric which has five operational renewable energy (four wind and one solar power) projects with a combined capacity of 174 MW.

UK investor acquires two Acme Solar projects aggregating 400 MW

Private equity investor Actis has completed the acquisition of Haryana-based Acme Solar’s 400 MW PV assets in the states of Andhra Pradesh and Madhya Pradesh.

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Ayana Renewable acquires 40 MW PV projects from First Solar

This marks the first such acquisition for the Bengaluru-based developer as it looks to acquire high-quality operating renewable assets to ensure a balanced risk portfolio.

UK investor NextEnergy acquires 27.4 MWp solar project in Odisha

The plant—constructed and operated by Germany-headquartered IBC Solar Energy—is NextEnergy’s first investment in India as part of its strategy to acquire ready-to-build or operational solar projects across high-growth international markets.

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Ministry moves to fend off predatory moves for Covid-weakened solar businesses

Foreign direct investment into Indian solar concerns from China and other neighboring countries will now have to secure the approval of the Ministry of New and Renewable Energy.

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