Author: PPD Team Date: 17/10/2024
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.
Author: PPD Team Date: 20/01/2025 Reliance Industries Limited will acquire a 100% equity stake in Lakadia B Power Transmission from REC Power Development and Consultancy Limited (RECPDCL) for Rs 80 million. The acquisition aims to develop an interstate transmission system (ISTS) to evacuate up to 3.5 GW of renewable energy from Lakadia, Gujarat. The transmission system will be designed to augment the transformation capacity at the 765/400 kV Lakadia substation under Part B of the…
Author: PPD Team Date: 03/03/2025 Jordan’s state-owned transmission system operator, National Electric Power Company (NEPCO), has secured a EUR67.1 million financing package from the European Bank for Reconstruction and Development (EBRD) and the European Union (EU) to upgrade the country’s transmission infrastructure. The package includes a sovereign-guaranteed EBRD loan of up to EUR54.7 million and an EU investment grant of EUR12.4 million. The funds will be used to construct a high-voltage electricity substation in northern…
Author: PPD Team Date: 04/11/2024 AM Green has placed an order with John Cockerill for a 1.3 GW advanced pressurised alkaline electrolyser for its existing plant in Kakinada, Andhra Pradesh. This marks the largest electrolyser order in India to date. The project, set to begin production in the second half of 2026, will supply electrolysers in two phases of 640 MW each. It aims to produce green hydrogen and convert it into green ammonia. In…
Author: PPD Team Date: 17/01/2025 Pertamina New & Renewable Energy (Pertamina NRE), a subsidiary of an Indonesian State-Owned Enterprise, has signed a share subscription agreement with Citicore Renewable Energy Corporation (CREC). Pertamina NRE will acquire a 20% stake in CREC by subscribing to 2,232,143,036 common shares at PhP 3.00 per share, amounting to approximately $115 million. This partnership gives Pertamina NRE access to CREC’s expertise in engineering, procurement, and construction (EPC) while supporting CREC’s regional…
Author: PPD Team Date: 16/12/2024 Indus Towers has signed a power purchase agreement (PPA) with JSW Green Energy Eight and announced an investment of Rs 380.3 million. The agreement includes procuring 130 MW of renewable energy from a solar photovoltaic (PV) plant under a captive model. As part of the deal, Indus Towers will acquire a 26 per cent equity stake in the special purpose vehicle (SPV), supporting its renewable energy goals and commitment to…
Author: PPD Team Date: 11/12/2024 The Competition Commission of India (CCI) has recently approved the acquisition of thyssenkrupp Electrical Steel India Pvt Ltd (thyssenkrupp India) by Jsquare Electrical Steel Nashik Pvt Ltd (JSquare). JSquare, a newly-incorporated subsidiary of JSW JFE Electrical Steel Pvt Ltd (J2ES), is a 50:50 joint venture between JSW Steel Ltd and Japan’s JFE Steel Corporation. Currently, J2ES has no commercial operations but plans to begin the manufacture and sale of grain-oriented…