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ReNew plans $500 million bond issue via GIFT City IFSC
ReNew Energy Global PLC is preparing to raise around $500 million through a U.S. dollar-denominated bond issuance routed via the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City). The proposed issue is aimed at refinancing existing debt, including a major maturity due in July 2026, and meeting other corporate funding needs….
Exide Industries invests Rs 1499.90 million in lithium battery subsidiary EESL
Exide Industries Limited has invested Rs 1499.90 million in its subsidiary, Exide Energy Solutions Limited (EESL), through a rights-based equity subscription. This brings Exide’s total investment in EESL to Rs 33,022.3 million, including prior investments in the now-merged Exide Energy Private Limited. EESL issued 41,663,892 equity shares with a face value of Rs 10 each,…
Poseidon to deliver cable services for Greater Changhua wind farms in Taiwan
Poseidon Cables has secured a contract with NCT Offshore to provide cable pre-rigging and pull-in services for the Greater Changhua 2b and 4 offshore wind farms in Taiwan. Located 35-60km offshore Changhua County, the project will become Taiwan’s largest wind power complex, generating electricity to supply one million households annually. Poseidon Cables’ role involves preparing…
Four firms win bids for 1,200 MW wind-solar hybrid projects under NHPC’s Tranche-X
Four companies have secured contracts to develop a total of 1,200 MW of Inter-State Transmission System (ISTS)-connected wind-solar hybrid power projects under NHPC Limited’s Tranche-X bidding. These projects can be developed anywhere in India on a build, own, and operate (BOO) basis, with or without Energy Storage Systems (ESS). The winners include Sprng Vayu Vidyut…
MNRE issues guidelines for payment security and CFA under PM Surya Ghar
The Ministry of New and Renewable Energy (MNRE) has released guidelines for two components of the PM Surya Ghar: Muft Bijli Yojana (PMSGMBY), targeting rooftop solar installations for eligible residential consumers. The program runs until March 31, 2027. Key highlights: Central financial assistance (CFA): Applicable for rooftop solar systems installed on rooftops, terraces, balconies, and…
Shakti Pumps raises Rs 2.93 billion through QIP
Shakti Pumps has completed its qualified institutions placement (QIP) issue, raising Rs 2.926 billion from institutional investors. The shares were issued at Rs 918.00 each, reflecting a 4.97 per cent discount to the Securities and Exchange Board of India’s floor price of Rs 965.96. The funds will be used to set up a greenfield manufacturing…
