Adani concludes India’s largest renewables M&A transaction
Adani Green Energy has completed the acquisition of 5 GW of solar and wind assets from SB Energy India for $3.5 billion, marking the largest renewables M&A deal in the country. The acquisition swells Adani’s operational capacity by 46%.
The long read: First Solar goes to India
First Solar has announced plans to establish a new 3.3 GW manufacturing facility in India. Representing an investment of $684 million, the move demonstrates the thin-film PV manufacturer’s confidence in India’s solar growth and the increasingly favorable policy environment for domestic solar PV production.
SECL tenders 40 MW solar for self-consumption
Domestic bids are invited to install a 40 MW solar power plant for captive consumption by South Eastern Coalfields Limited. The plant shall come up SECL land in the Surajpur District of Chhattisgarh. Bidding closes on October 15.
NTPC arm signs green term loan pact for 670 MW solar
The renewable energy arm of NTPC signed the pact with the Bank of India to finance its 470 MW solar project in Rajasthan and 200 MW in Gujarat.
bp invests in electric mobility startup BluSmart
The venture capital arm of British energy company bp has invested $13 million in BluSmart in a $25 million Series A funding round. The investment will help BluSmart bring its electric vehicles and charging stations to five major cities.
Sterling and Wilson Solar lands its first waste-to-energy project
The Indian multinational solar EPC player has won a project worth INR 1,500 crore for its recently created business segment of waste-to-energy. The project also marks its first order in the European market.
Adani Green to buy Essel’s 40 MW solar assets in Odisha
The operating solar assets benefit from a long-term power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) at an INR 4.235/kWh tariff. The remaining PPA life is 22 years.
Scaling finance could drive MSME rooftop solar
Rooftop solar growth in India has so far largely been driven by a few large creditworthy organizations in the commercial and industrial sector. However, if accessible financing options are made available, growth can also be replicated in micro, small and medium-sized enterprises (MSMEs) as well, says a new report.
KKR-backed Virescent Infrastructure raises US$62 million
Mumbai-headquartered Virescent Infrastructure, set up by US investor KKR to own and operate renewable energy assets in India, has raised INR 4.6 billion (US$62 million) through its renewable energy-focused infrastructure investment trust (InvIT). Canada’s Alberta Investment Management Corporation (AIMCo) led the funding.
IIT Bhilai researchers develop large-area perovskite solar cell with copper metal contact
An Indian research group has built a perovskite cell that has a metal contact based on copper, instead of expensive gold. The device showed almost the same efficiency as a cell developed with gold metallization but its stability was much lower. In order to overcome this issue, the scientists suggest using a metal contact made of a thin layer of gold and a thicker, overlying copper layer.
