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Masdar completes €3.2bn acquisition of Terna Energy
United Arab Emirates-based clean energy company Masdar has finalized its €3.2 billion ($3.3 billion) acquisition of Greece’s Terna Energy, the largest deal on the Athens Stock Exchange. The acquisition, announced in June 2024, involved the purchase of 70% of Terna Energy shares at €20 ($21.1) per share from GEK Terna and other shareholders. Masdar plans to secure the remaining shares through an all-cash mandatory tender offer, pending regulatory approval from the Hellenic Capital Markets Commission. …
Prysmian secures submarine cable projects in France
Prysmian, a leading manufacturer of energy and telecom cables, has entered into a framework agreement with Réseau de Transport d’Électricité (RTE), France’s transmission system operator, to provide submarine power cable links for two offshore wind farms—the Fos and Narbonnaise projects. These links will connect the offshore farms to the French national grid. The agreement includes engineering, procurement, construction, installation, and commissioning (EPCI) of both submarine and land cable segments. The projects are expected to be…
Sorigin RE Services wins 250 MW / 500 MWh BESS EPC order in Rajasthan
Sorigin RE Services, a Pune-based energy solutions firm, has secured its first standalone battery energy storage system (BESS) contract in Rajasthan. The project, awarded by an independent power producer, has a total capacity of 250 MW / 500 MWh. The order comprises two installations of 125 MW / 250 MWh each at Giral and Suratgarh. Sorigin will execute end-to-end engineering, procurement, and construction (EPC), including design, engineering, equipment supply, civil and electrical works, and commissioning….
Kansai Electric unit acquires 10% stake in OMC Power
Kansai Electric Power’s transmission and distribution subsidiary has invested about Rs 160 crore to acquire a 10% equity stake in Gurugram-based OMC Power. The transaction adds another Japanese corporate investor to the company’s shareholder base, taking the total to four. The investment follows earlier stakes by Mitsui & Co, Chubu Electric Power, and Honda Motor Corporation. The continued participation of Japanese companies indicates sustained interest in OMC Power’s distributed renewable energy model, particularly as a…
Ramboll completes K2 Management acquisition
Global engineering firm Ramboll has finalized its acquisition of K2 Management, an engineering consultancy specializing in wind and solar energy. With this acquisition, K2 Management is now integrated into Ramboll Group, significantly boosting Ramboll’s wind expertise, which has grown at an annual rate of 25% over the past three years. Ramboll’s Global Wind Division, led by Tim Fischer, anticipates full operational integration by the first half of 2025. The combined wind division now includes over…
Ayana Renewables to raise Rs 1.5 billion via non-convertible debentures
Ayana Renewable Power Private Limited has approved a plan to raise Rs 1.5 billion through the issuance of 1,500 non-convertible debentures at an issue price of Rs 1 million each. The debentures will be subscribed by Infrastructure Leasing and Financial Services Limited (IL&FS) Mutual Fund and will have a tenure of three years from the initial drawdown. The proceeds will be used for debt refinancing, subsidiary support in renewable projects, interest payments, loans, and other…
