Waaree Energies Limited has signed an agreement to acquire 100% of Enel Green Power India Pvt Ltd (EGP India) from Enel Green Power Development S.R.L. The acquisition, valued at Rs 7.92 billion, is subject to customary closing adjustments. EGP India operates a renewable energy platform with a net capacity of approximately 640 MW AC (760…
JSW Energy’s subsidiary, JSW Neo Energy, has acquired 125 MW of renewable energy assets from Hetero Group for an enterprise valuation of Rs 6.3 billion. The portfolio includes wind power projects in Andhra Pradesh and Maharashtra, with long-term power purchase agreements. The acquisition was made through three Special Purpose Vehicles (SPVs) owned by Hetero Labs…
Lupin Limited has acquired a 42.61% equity stake in Sunsure Solarpark Seventeen Private Limited. This follows the share subscription and shareholders agreement with Sunsure Solarpark and Sunsure Energy Private Limited, involving an equity investment of Rs 105.53 million, to be executed in two tranches.
Ceylon Electricity Board (CEB) has connected the newly constructed 132 kV Wagawatta substation to Sri Lanka’s national grid. The 90 MVA substation, located on a five-acre site provided by the Board of Investment of Sri Lanka (BoI), houses two 45 MVA, 132/33 kV power transformers. Designed to supply electricity to the BOI-managed Wagawatta and Millaniya…
Emirates Water and Electricity Company (EWEC) has launched the bidding process for the development of the Zarraf Solar PV independent power producer (IPP) project, aiming to enhance Abu Dhabi’s solar capacity to at least 10GW by 2030. Located in the Al Zarraf area of the Al Dhafra Region, the project will have a capacity of…
Umweltgerechte Kraftanlagen (UKA), a German developer of wind and solar parks, has ordered 80 turbines from Nordex Group, totalling a capacity of 540 MW for various wind energy projects across Germany. The turbines, mainly from the Delta4000 series, will be supplied for 15 UKA projects in six German states. The bulk of the order includes…
Virginia Transformer is exploring a potential sale that could value the company at more than $6 billion, according to Bloomberg sources. The company, led by CEO Prabhat K Jain, is one of North America’s largest US-owned power transformer manufacturers. The company is working with an adviser to assess buyer interest, although there is no guarantee…
US renewable energy company Origis Energy has secured a $415 million financing package for the Swift Air Solar project in Ector County, Texas. The package includes $290 million in construction and term debt from Natixis Corporate & Investment Banking, which also acted as the hedging bank, LC issuer, green loan coordinator, and administrative agent. Advantage…
The Union Ministry of Environment, Forest and Climate Change (MoEF&CC) has issued a fourth extension for thermal power plants (TPPs) to meet sulphur dioxide (SOâ‚‚) emission standards. Category A now by December 31, 2027; Category B by December 31, 2028; and Category C by December 31, 2029. The latest notification, dated December 30, 2024, revises…
In the latest meeting of the Expert Appraisal Committee (EAC) under the Ministry of Environment, Forest and Climate Change (MoEFCC), five thermal power projects were reviewed: Deen Bandhu Chhotu Ram Thermal Power Plant, Haryana: The proposal to expand the existing 2×300 MW coal-based units by installing a new 1×800 MW supercritical unit was recommended for…