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Virginia Transformer explores sale valued at over $6 billion

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Virginia Transformer is exploring a potential sale that could value the company at more than $6 billion, according to Bloomberg sources. The company, led by CEO Prabhat K Jain, is one of North America’s largest US-owned power transformer manufacturers. The company is working with an adviser to assess buyer interest, although there is no guarantee that a sale will occur. Founded in the 1970s, Virginia Transformer manufactures essential products for sectors such as steel mills…

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Alternus Clean Energy acquires LiiON for $5 million

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Alternus Clean Energy has finalized the acquisition of LiiON, LLC through an asset purchase agreement executed by one of its US subsidiaries. The $5 million deal combines debt and equity, granting Alternus LiiON’s customer contracts, service agreements, and partnerships. As part of the agreement, LiiON will provide an exclusive license to its intellectual property. The total consideration includes a $2 million non-convertible loan note, payable over three years, and 250,000 shares of common stock valued…

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Surana Solar acquires Surana Technologies

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Surana Solar Limited has acquired a 100% stake in Surana Technologies Private Limited, making it a wholly-owned subsidiary.  Surana Technologies, with an authorized, subscribed, and paid-up capital of Rs 100,000, operates in the solar energy sector, specializing in trading, distribution, supply, generation, transmission, and manufacturing of solar products.  This acquisition aligns with Surana Solar’s strategy to enhance its execution capacity for solar projects.

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Refex Green acquires full ownership of Sherisha Solar SPV Two

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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.

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BP completes acquisition of full stake in Lightsource bp, expanding renewable energy capabilities

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BP has finalized its acquisition of the remaining 50.03% interest in Lightsource bp, fully integrating its 62 GW renewable energy pipeline across 19 markets worldwide into BP’s portfolio. Although BP now has full ownership, Lightsource bp will retain its brand and operate independently. This acquisition enhances BP’s renewable energy reach, supporting its broader low-carbon initiatives, including power trading, EV charging, biofuels, and green hydrogen production. BP’s executive vice president for gas and low carbon energy,…

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Kataria Industries acquires Ratlam Wires’ wire manufacturing business

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Kataria Industries has acquired the wire manufacturing business of Ratlam Wires for approximately Rs 310 million.  The acquisition, valued at Rs 306 million, is structured as a slump sale, with the business continuing as a going concern. This move is expected to enhance Kataria’s presence in the steel wire industry. Ratlam Wires produces various steel wire products, including spring steel wires, PC strand wires, and both galvanized and ungalvanized wires. Arun Kataria, Managing Director of…

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JSW Neo Energy acquires 125 MW wind assets from Hetero Group

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JSW Neo Energy Limited (JSWNEL), a subsidiary of JSW Energy Limited, has acquired three special purpose vehicles (SPVs)—Hetero Wind Power Limited, Hetero Wind Power (Pennar) Private Limited, and Hetero Med Solutions Limited—from Hetero Labs Limited and Hetero Drugs Limited.  These SPVs have a combined wind energy capacity of 125 MW. This acquisition aligns with JSW Neo Energy’s strategy to expand its renewable portfolio and supports its goal of achieving 10 GW of installed capacity by…

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JSW JFE acquires thyssenkrupp Electrical Steel India

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JSW JFE Electrical Steel Pvt Ltd has finalized the acquisition of thyssenkrupp Electrical Steel India Pvt Ltd (tkES India) for Rs 40.51 billion.  This move enables JSW-JFE to enter the grain-oriented electrical steel (GOES) business, aligning with their plans to expand into this crucial sector. tkES India, based in Nashik, Maharashtra, is one of India’s pioneers in GOES manufacturing. The acquisition is being carried out through Jsquare Electrical Steel Nashik Pvt Ltd, a wholly-owned subsidiary…

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DVC highest bidder for Hiranmaye Energy assets

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Damodar Valley Corporation (DVC) has emerged as the highest bidder in the auction for Hiranmaye Energy’s assets, offering Rs 15 billion, surpassing the reserve price of Rs 13 billion.  This marks DVC’s first acquisition, adding to its total installed capacity of around 6,700 MW, including greenfield and brownfield expansions.  Hiranmaye Energy operates a 300 MW thermal power plant in Haldia, West Bengal, with two units of 150 MW each. The company holds a 25-year power…

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PGPPL signs SPA to acquire 100 per cent stake in Deshraj Solar Energy

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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.