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Mergers & Acquisitions

TotalEnergies to acquire 25% stake in Adani’s green hydrogen unit

France’s TotalEnergies has signed an agreement with Adani Enterprises to acquire 25% of its new energy arm, Adani New Industries Ltd. The joint venture platform, ANIL, will be integrated across the value chain to drive down green hydrogen production costs. It aims to develop a green hydrogen production capacity of 1 million tons per annum by 2030.

Torrent Power acquires 50 MW solar plant from SkyPower

Torrent Power has bought a 50 MW solar plant in Telangana that supplies power to Northern Power Distribution at a tariff of about INR 5.35 ($0.069)/kWh, fixed for the entire 25-year duration of the power purchase agreement. The project has a remaining useful lifetime of about 20 years.

Waaree gets NCLT nod for Indosolar acquisition

India’s National Company Law Tribunal (NCLT) has approved Waaree’s acquisition of Indosolar, in a deal that will expand its planned PV cell production capacity from 4 GW to 5.4 GW, while complementing its upcoming foray into module manufacturing.

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Shell to acquire Sprng Energy

Shell has signed the agreement to acquire Solenergi Power, an Actis company owning 100% of Indian developer Sprng Energy. The transaction, valued at $1.55 billion, is expected to close later this year.

Linde raises 26% stake in 32.5 MW solar plant for self-consumption

The captive solar plant is developed by Avaada Group through a special purpose vehicle called Avaada MHYavat. The solar electricity generated will power energy-intensive air-separation operations of the industrial gas producer.

Polysilicon maker predicts 5-year shortage of solar raw material

TBEA-owned Xinte Energy says it cannot produce polysilicon quickly enough to meet demand and wants shareholders to back its bid to quadruple its manufacturing capacity by mid 2024.

Borosil Renewables to acquire Europe’s largest solar glass maker Interfloat Group

With this acquisition, the Indian manufacturer’s solar glass output will grow to 750 tonnes per day (TPD) from the current 450 TPD.

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Torrent Power completes the acquisition of 50MW solar plant from Lightsource bp and UKCI

The PV plant, situated in Maharashtra, is owned and operated by Lightsource BP’s renewable energy arm Lightsource Renewable Energy (India) in finance partnership with UK government-funded green investment platform UKCI.

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Virescent Renewable Energy Trust completes the acquisition of 50MW operating solar asset from Godawari Green Energy

The 50MW concentrated solar power plant, located in the state of Rajasthan, was commissioned in June 2013 and benefits from a 25-year power purchase agreement with NTPC Vidyut Vyapar Nigam.

European investor ThomasLloyd gets government approval for SolarArise acquisition

Delhi-based SolarArise India Projects, an investee company of ThomasLloyd, owns seven solar power projects with a cumulative capacity of 434MW in India.

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