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PFC secures JPY 25.5 billion loan from JBIC for wind energy project in Karnataka
Power Finance Corporation (PFC) has secured a long-term loan of JPY 25.5 billion from the Japan Bank for International Cooperation (JBIC) under its ‘Global Action for Reconciling Economic Growth and Environmental Preservation’ (“GREEN”) initiative. The loan, co-financed by Sumitomo Mitsui Banking Corporation and other Japanese banks, will support a 300.3 MW wind energy project by Ostro Kannada Power Private Limited (OKPPL) in Karnataka, India. JBIC will also provide a guarantee for the portion of the…
Bureau Veritas acquires ArcVera Renewables
Inspection and certification provider Bureau Veritas has acquired ArcVera Renewables, a leading consulting and technical services provider for wind, solar, and energy storage projects. Although the financial details of the deal were not disclosed, the acquisition is part of Bureau Veritas’s LEAP | 28 strategy, which aims to enhance its renewable energy services, particularly in North America. ArcVera Renewables has earned a reputation for excellence in due diligence and operational verification of renewable energy projects….
Hero Motors files for Rs 9 billion IPO
Hero Motors, part of the Hero Motors Company (HMC) Group, has filed with SEBI to raise Rs 9 billion through an IPO. The offer includes Rs 5 billion in new shares and Rs 4 billion through an offer-for-sale by promoters. Promoter O P Munjal Holdings will sell shares worth Rs 2.5 billion, and Bhagyoday Investments and Hero Cycles will each sell shares worth Rs 750 million. The company may also conduct a pre-IPO placement of…
Waaree Energies secures 90 MW solar module order for Rajasthan project
Waaree Energies, a major player in India’s renewable energy sector, has secured an order from Juniper Green Energy Ltd. to supply 90 MW of solar modules for a large-scale project in Bikaner, Rajasthan. The project will feature Waaree’s innovative dual glass bifacial modules, which can absorb sunlight from both sides, increasing energy generation and efficiency, particularly in regions like Rajasthan with high reflective surfaces.
BPCL to establish joint ventures for renewable and biogas projects
Bharat Petroleum Corporation Ltd (BPCL) approved two joint ventures during its Board meeting on 12 September 2024. The first JV with Sembcorp Green Hydrogen India (SGHIPL) will focus on developing and operating renewable energy projects across India, including green hydrogen production. Both BPCL and SGHIPL will hold equal 50% stakes in the venture. The second JV with GPS Renewables will involve setting up compressed biogas (CBG) plants nationwide. These ventures are pending regulatory approvals from…
SPV incorporated for Bhadla-Bikaner complex ISTS scheme
PFC Consulting Ltd (PFCCL) has formed a wholly-owned subsidiary, “Bikaner and Bhadla Transmission Complex Ltd,” to serve as the special purpose vehicle (SPV) for the project “Transmission system strengthening to facilitate evacuation of power from Bhadla/Bikaner Complex” aimed at evacuating renewable energy from Rajasthan to load centres in Delhi and Uttar Pradesh. The project, incorporated on October 15, 2024, is part of an ISTS scheme. PFCCL is overseeing the bidder selection process through a tariff-based…