Author: PPD Team Date: November 5, 2024
Refex Green Power Limited (RGPL), a wholly-owned subsidiary of Refex Renewables & Infrastructure Limited, has acquired the remaining 51% equity stake in Sherisha Solar SPV Two Private Limited.
This acquisition increases RGPL’s ownership to 100%, making Sherisha Solar SPV Two a fully-owned step-down subsidiary.
Author: PPD Team Date: October 1, 2025 REC Limited and Power Finance Corporation Limited (PFC) have announced the formation of new wholly owned subsidiaries to serve as project vehicles for upcoming power transmission schemes in Karnataka, Rajasthan, and Maharashtra. REC has incorporated Kempegowda Power Transmission Limited and Barmer HVDC Power Transmission Limited as subsidiaries of REC Power Development and Consultancy Limited (RECPDCL), a wholly owned arm of REC. Kempegowda Power Transmission Limited was formed to…
Author: PPD Team Date: October 24, 2024 Power Grid Corporation of India Ltd (PGCIL) has received letters of intent (LoIs) for two interstate transmission system (ISTS) schemes for evacuating renewable energy from Rajasthan’s Renewable Energy Zone (REZ) Phase IV (6 GW) [Bikaner complex]. The LoIs were issued on October 21, 2024, with PGCIL confirming the notifications on October 22, 2024. The two schemes are: Transmission system for evacuation of power from Rajasthan REZ Phase IV…
Author: PPD Team Date: January 3, 2025 Aypa Power, a Blackstone portfolio company, has obtained $190m in financing for its Bypass battery energy storage system (BESS) project in Fort Bend County, Texas. The 200MW/400MWh facility will address the region’s growing energy storage needs. The financing includes a $68m construction-to-term loan, a $91m tax equity bridge loan, and $31m in letters of credit, with $26m allocated for project-specific requirements. Morgan Stanley Renewables committed $94m in tax…
Author: PPD Team Date: May 14, 2025 Masdar has signed a collaboration agreement with Kazakhstan’s sovereign wealth fund, Samruk-Kazyna, to develop renewable energy and battery energy storage system (BESS) projects in the country. The signing was witnessed by Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and Kazakhstan President Kassym-Jomart Tokayev. The partners plan to launch a ’24/7′ renewable energy initiative to deliver up to 500MW of baseload clean energy, alongside…
Author: PPD Team Date: July 21, 2025 Envision Energy India will set up a third manufacturing facility in Gujarat and expand its workforce to over 7,000 by FY28. The company also plans to localise key wind turbine components and scale up domestic production, according to RPV Prasad, Managing Director, in an interview with Moneycontrol. The Gujarat unit will be a 2 GW blade facility, joining its 3 GW blade plant in Tiruchirappalli and nacelle and…
Author: PPD Team Date: January 22, 2025 Sembcorp Industries has inaugurated the 588 MW Manah 2 Solar Independent Power Project in Manah, Oman, marking its first greenfield renewables development in the Middle East. Backed by a 20-year 500 MW power purchase agreement with Nama Power and Water Procurement Company, the project began commercial operations on December 30, 2024, following successful acceptance tests. Spanning 6.8 million square meters in the Ad Dakhiliyah region, the project employs…