Mergers & Acquisitions

Hitachi gets CCI nod to buy 80.1% stake in ABB’s power grid arm

Japan-based Hitachi will buy an 80.1% per cent stake in the Swiss major’s power grids business in a deal that values its grid business at US$ 11 billion.

Italian inverter maker confirms no ABB jobs will be lost in India

Fimer’s takeover of the inverter business of the Swiss conglomerate will not affect job numbers at ABB’s Indian production facilities, according to the new owner of the combined business.

Mahindra Renewables to sell 3 solar arms to CLP India

Cleansolar Renewable Energy, Divine Solren and Neo Solren—all of which were formed to set up and operate solar plants in Telangana—would be sold for around Rs 340 crore. The transaction is expected to be completed by May 31, 2020.

European investor EQT and Singapore’s Temasek launch renewable energy JV in India

Led by Indian developer Renew Power’s former CEO Parag Sharma, the joint venture by these global investors aims to install over 4 GW of utility-scale capacity across solar and wind projects.

Engie sells controlling stake in 813 MW Indian solar portfolio

Mumbai investor Edelweiss Group will gain a controlling stake in the generation assets in a deal which Engie says will allow it to reduce its debt by Rs3,160 crore.

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SunEdison’s rooftop solar arm acquires Sherisha Solar

The Chennai-based solar EPC contractor and trader, which formed SIL Rooftop Solar as the new subsidiary in October, has included battery-based energy storage as a focus area in addition to renewable energy projects.

2636 EV charging stations sanctioned under Fame India Phase II

Of these, 1633 charging stations will be fast charging stations and 1003 slow charging stations. With this, about 14,000 charging stations will be installed across the selected cities.

Gayatri Projects completes sale of power assets to Singapore-based Sembcorp

The company sold its 5.95% stake in Sembcorp Energy India—held through subsidiary Gayatri Energy Ventures—for Rs 4067.70 million.

Qatar Holding gets CCI nod to buy 25% stake in Adani Electricity Mumbai

As part of the transaction, both the parties have agreed to ensure that over 30% of the electricity supplied by Adani Electricity Mumbai Ltd will come from solar and wind power plants by the year 2023.

Sembcorp to buy remaining stake in Indian arm for Rs 4060 million

Following equity injection of about Rs 5169 million, Singapore-based integrated energy player has signed an agreement to invest another Rs 4060 million in Sembcorp Energy India Ltd to gain complete control over it and pursue growth in the India renewable energy business.

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