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.
Adani launches new solar and iron ore mining arms
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.
Avyan Renewable lowers stake in SunEdison Infrastructure
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.
Adani acquires Essel’s 205 MW solar assets for Rs1300 crore
The purchased solar portfolio is relatively young with average remaining PPA life of around 22 years.
Essel in talks with Adani for solar assets sale
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’ solar business consolidation likely to wrap up soon
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 sells two more solar subsidiaries to Ostro Energy
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.
Analysis: Siemens’ move for Kaco unlikely to threaten Indian jobs
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.
