Sector: Power
Mahindra dilutes sizeable stake in the renewable business. Financially not a significant event.
M&M is diluting 30% stake in it’s renewable business to Ontario Teachers’ Pension Plan Board (Ontario), a global major investor with net assets ~ Canadian$ 242.5 bn. Key points to note – Stake dilution is of a step down wholly owned subsidiary of M&M, Mahindra Susten Private Limited (MSPL) MSPL is Mahindra Group’s renewable energy … Read more
JSW Energy acquires 1.75 GW Renewable Energy Assets
JSW Energy last year had demerged it’s green business into a separate wholly owned subsidiary JSW Energy Neo. The step was keeping in line with group’s increased focus on the renewables (like everyone else). JSW had announced aggressive expansion plans – From 4.8 GW of current capacity to 10 GW by 2025 Currently 2/3 rd … Read more
Adani, L&T among 18 firms to show interest in BSES smart meter tender
The five million smart meter tender issued by Reliance Infrastructure’s BSES Limited has received interest from close to 18 companies, company executives have said. Among the firms that have come forward during the Expression of interest (EoI) round are leading Indian companies such as HPL, Secure Meters, Adani Transmission, L&T. Finland-based Wirepas, EDF France, Enel … Read more
India To Meet 50% Of Its Energy Needs From Renewable Resources By 2030: Giriraj Singh
Union Rural Development and Panchayati Raj Minister Giriraj Singh Sunday said the Union government under the leadership of Prime Minister Narendra Modi government has set an ambitious target of meeting half of its energy needs from renewable resources by 2030 and reach the net zero-emission levels by 2070. Addressing a Conference of Panchayats-2022 at Indira … Read more
Borosil Renewables continue to focus on expansion. Now decides to grow inorganically too.
Borosil Renewables Ltd (BRL) is currently in the process of quadrupling it’s production capacity to about 2000 tonnes per day (TPD) over the next couple of years. The Company has now announced 100% acquisition of Interfloat Group, Europe’s largest manufacturer of solar glass. Key points to note – Interfloat Group comprises of two entities – … Read more
Growth opportunities will result Indian renewable companies highly leveraged: S&P Global Ratings
Global credit rating agency S&P Global Ratings on Monday said the Indian renewable energy sector will be highly leveraged owing to the growth opportunities. In its new report “India Renewables: Growth Trumps Deleveraging” S&P Global Ratings said the multi-decade growth opportunities for renewable energy in India will result in persistently high leverage across the sector. … Read more
ED raids JSPL offices over suspected violation of FEMA regulations
As per newspaper reports, Enforcement Directorate conducted searches at JSPL’s New Delhi and Gurugram offices. On exchanges’ seeking confirmation about the newspaper reports from the Company, JSPL did confirm that ED had visited the two offices and all the requisite information has been provided. The Company further informed, that it has an exemplary track record … Read more