Sterlite Power Limited has raised Rs 7.25 billion in its first primary fundraising since becoming independent. The funds were raised through its global products and solutions business.
This marks the first fundraising round since the company’s demerger. The round saw participation from GEF Capital Partners and ENAM Holdings. The capital will be used for ongoing capex, enhancing production capacity, developing new products, and expanding into international markets.
NLC India Limited (NLCIL) has entered into a joint venture agreement with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) to establish a 3×125 MW lignite-based thermal power plant in Rajasthan, along with developing lignite mines to fuel the station. The initial paid-up capital for this project is set at Rs 500,000, with NLCIL holding a 74% stake and RRVUNL holding 26%. In addition, NLC India Renewables Limited, a subsidiary of NLCIL, has also signed a…
Kenya’s high court has suspended a $736 million agreement between state-owned Kenya Electrical Transmission Company (KETRACO) and Adani Group’s Adani Energy Solutions to develop and operate power infrastructure, including transmission lines. The suspension follows a legal challenge by the Law Society of Kenya, which has criticized the agreement as “a constitutional sham” and “shrouded in secrecy.” The Law Society claims that KETRACO and Adani Energy Solutions did not fulfill public participation requirements, a mandate under…
Premier Energies Global Environment Private Limited, Premier Energies International Private Limited, and Premier Energies Photovoltaic Private Limited, subsidiaries of Premier Energies Limited, have secured contracts worth Rs 10.87 billion for the supply of solar modules and cells in India as of November 25, 2024. The contracts include Rs 9.64 billion for solar modules and Rs 1.23 billion for solar cells. Deliveries are expected to commence in January 2025.
Cyient DLM has signed a memorandum of understanding (MoU) with Arcedo Systems to establish a 500 kWp rooftop solar power plant at its Mysore facility. Arcedo Systems will handle the design, engineering, installation, and maintenance of the plant, which will operate under a long-term power purchase agreement (PPA). Cyient DLM will source solar power directly from the facility, reducing its carbon footprint and enhancing energy efficiency. Cyient DLM CEO Anthony Montalbano highlighted the company’s focus…
SJVN has signed a Memorandum of Understanding (MoU) with the Energy Department of Rajasthan to advance renewable energy development in the state. As part of the MoU, SJVN will develop 5 GW of pumped storage projects and 2 GW of floating solar projects in Rajasthan. The agreement was formalized in the presence of Rajasthan’s Chief Minister, Bhajan Lal Sharma, and signed by Akhileshwar Singh, Director (Finance) SJVN, and Om Kasera, Managing Director of RRECL. SJVN…
The Ministry of Railways has issued a tender for a 4 MW ground-mounted, grid-connected solar power project at Thivim, Konkan Railway, Goa. This project, intended to power the Thivim Traction Sub-Station (TSS), will operate on a public-private partnership (PPP) basis under a design, build, finance, operate, and transfer (DBFOT) model for 25 years. The deadline for bid submission is set for November 29, 2024, with project completion expected within 180 days. In related developments, Southern…