Purvah Green Power Private Limited (PGPPL), a wholly owned subsidiary of CESC Limited, has signed a share purchase agreement (SPA) to acquire a 100 per cent stake in Deshraj Solar Energy Private Limited.
Upon completion, Deshraj Solar Energy will become a step-down subsidiary of CESC. This acquisition aligns with CESC’s strategy to expand its presence in the renewable energy sector.
ACCIONA Energía has received Green Lane status from the Philippines’ Board of Investments for its 150 MW Daanbantayan Solar Project on Cebu Island, expediting the permitting process. With a $130 million investment, the project aligns with the Philippine Development Plan to boost renewable energy and will create significant employment opportunities. Initial power will be sold through private PPAs with CEBECO II, with excess energy auctioned by the Department of Energy. ACCIONA is also advancing other…
Prozeal Green Energy Limited and Golyan Power Limited have formed a joint venture to develop over 500 MW of solar energy projects in Nepal, including rooftop and ground-mounted photovoltaic (PV) plants. Prozeal Green Energy will hold a 60% stake and manage engineering, procurement, and construction, while Golyan Group will hold the remaining 40%. The solar power generated will be supplied to the Nepal Electricity Authority as well as commercial and industrial consumers. The projects, spread…
KEC International has secured new orders worth Rs 11.42 billion across its various business segments: Transmission & Distribution (T&D): Orders for projects in the Middle East and Americas, including a 380 kV transmission line in Saudi Arabia and the supply of towers, hardware, and poles in the Americas. Railways: An order for constructing bridges and associated works for a railway line in India’s conventional segment. Cables: Orders for the supply of various types of cables…
Spanish utility Iberdrola has announced that Avangrid shareholders have approved its $2.55 billion proposal to acquire the remaining 18% stake in the company. Shareholders will receive $35.75 per share, representing a 15.2% premium over the 30-day weighted average price before the acquisition’s March announcement. The acquisition will enhance Avangrid’s ability to secure financial resources needed for investments in transmission and distribution networks in states like New York, Connecticut, Maine, and Massachusetts. Following regulatory clearances, Avangrid…
Constellation Energy has placed a $100 million order for a main power transformer, marking a critical step in the revival of the Three Mile Island nuclear reactor in Pennsylvania, according to Reuters. The transformer is the largest single piece of equipment needed for the reactor’s restart. Constellation has committed to investing $1.6 billion by 2028 to bring the plant back online. Following a detailed survey of the site, which assessed essential infrastructure and equipment, Constellation…
The Central Transmission Utility of India Ltd (CTUIL) has approved seven interstate transmission system (ISTS) schemes worth nearly Rs 4 billion under the regulatory tariff mechanism (RTM). Announced on September 13, 2024, these projects, located across the eastern, western, and northern regions, will be executed by Power Grid Corporation of India Ltd (PGCIL) or its TBCB subsidiaries. The schemes, each costing under Rs 1 billion, include: Implementation of 220kV line bays for a 500-MW renewable…
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