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.
Delhi-based SolarArise India Projects, an investee company of ThomasLloyd, owns seven solar power projects with a cumulative capacity of 434MW in India.
The Indian multinational business conglomerate has signed the agreement to buy Netherlands-headquartered lithium iron phosphate (LFP) battery specialist Lithium Werks for US$ 61 million, including funding for future growth.
The 25 MW solar project acquired by Torrent Power benefits from a a 25-year power purchase agreement with Gujarat Urja Vikas Nigam Ltd. Reliance New Energy Solar Ltd, a wholly-owned unit of Reliance Industries Ltd, now holds 40% of the total paid-up equity share capital of Sterling & Wilson Solar following acquisition of a further stake from its promoters.
The investors included domestic financial institutions India Infrastructure Finance Company Limited and Aseem Infrastructure Finance Limited. Virescent shall use the proceeds primarily to fund solar asset acquisitions related debt requirements.
The NASDAQ-listed Indian renewable energy developer has sold off its 117 MW/138 MWp of distributed rooftop solar portfolio to Hyderabad-based Fourth Partner Energy for INR 6.72 billion (US$89.9 million), ensuring its increased focus on higher-return, larger-scale projects.
Exide Leclanche Energy Private Limited, the joint venture with Swiss energy storage specialist Leclanché, has a lithium battery pack and module assembly factory in Gujarat.
The captive solar plant, being developed by Cleantech Solar arm CSE Deccan Solar, will supply 40 million units of electricity per annum to the tyre manufacturer’s Chennai facility.
Consequent to this acquisition, Reliance New Energy Solar holds 25.16% of the total paid-up equity share capital of Sterling & Wilson Renewable Energy (formerly known as Sterling and Wilson Solar Limited).
State-run hydropower producer NHPC will form the joint venture with a capital investment of INR 500 crore, raising a majority stake of 74% with the rest 26% held by Green Energy Development Corporation of Odisha Limited (GEDCOL).
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