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Mergers & Acquisitions

Siemens completes the acquisition of C&S Electric in India

Siemens has acquired C&S Electric’s around 99.22% equity share capital for INR 2,100 crore. The acquisition will allow it to address the rising demand for low-voltage power distribution solutions in India. Apart from gaining easy access to the Indian market, the transaction also aims to create an export hub.

ReNew Power to merge with US firm for NASDAQ listing

Proceeds from the transaction with RMG Acquisition will be used to support ReNew’s growth strategy, including the buildout of its contracted, utility-scale renewable power generation capacity and to reduce debt.

Kalpataru Power Transmission acquires controlling stake in Brazilian EPC firm Fasttel

The Indian multinational has acquired a 51% stake in Brazilian company Fasttel Engenharia Ltd that specializes in engineering, procurement and construction (EPC) of power transmission, substation and distribution services.

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Singapore’s Blueleaf launches in India with the acquisition of commercial solar developer Vibrant Energy

The pan-Asian renewable energy development platform, owned by Australian investment bank Macquarie’s Green Investment Group (GIG), has acquired a majority stake in Hyderabad-based commercial solar developer Vibrant Energy.

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Fortum gets Finnfund to accelerate EV charging infrastructure

The clean energy major has raised investment from Finnish impact investor Finnfund in its public charging point operator business Fortum Charge and Drive India.

Adani Green, Total joint venture expands operating solar portfolio by 205 MW

With the latest acquisition, the total operating renewable portfolio of the joint venture between Adani Green Energy and the French oil and gas major has reached 2,353 MW. 

CCI approves Adani Green’s solar asset transfer to Total joint venture 

The Indian developer formed the joint venture to allow Total Solar Singapore—French oil and gas giant Total’s renewable arm—acquire half the stake in its 2.1 GW of current operational PV portfolio in India.

Adani Green completes acquisition of 205 MW operating solar assets from Essel

The purchased solar portfolio is relatively young, with average remaining power purchase agreement life of around 21 years.

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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.

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