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Adani Green Energy to withdraw from Sri Lanka wind power projects, open to future collaboration
Business Today
·
5m ago
Medial
Adani Green Energy has decided to withdraw from renewable wind energy and transmission projects in Sri Lanka. Despite this, the company remains open to future collaborations if desired by the Sri Lankan government. Previously, discussions were held to reduce electricity costs from projects estimated at $1 billion. Adani planned wind power projects in Mannar and Pooneryn with a $442 million investment, and also has a $700 million terminal project at Colombo port.
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Adani to invest Rs 2.3 lakh Cr in renewable energy, manufacturing capacity
YourStory
·
1y ago
Medial
Adani Group plans to invest Rs 2.3 lakh crore by 2030 in India's largest renewable energy project. Adani Green Energy Ltd (AGEL) aims to expand solar and wind power capacity to 30 gigawatts in Khavda, Gujarat, and establish additional projects nationwide. Additionally, Adani New Industries Ltd (ANIL) will increase solar cell and wind turbine production in Mundra. This move marks a significant stride in India's renewable energy sector.
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Adani Group may run three Sri Lankan airports
Thehindubusinessline
·
1y ago
Medial
The Adani Group is in talks with Sri Lankan authorities to manage three airports including Bandaranaike International Airport in Colombo. Other airports being offered are Ratmalana Airport and Mattala Airport. The move comes as Sri Lanka experiences a surge in tourism, putting strain on airport infrastructure. Adani Group's potential entry into Sri Lanka's aviation sector would mark its first overseas aviation foray. Adani Group currently operates eight airports in India and is looking to expand its portfolio. Sri Lanka aims to attract 2.3 million tourists in 2024 and is focusing on massive development projects.
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SECI executes 60 GW of power sale pacts for renewable energy projects in 14 years
Economic Times
·
1m ago
Medial
State-owned Solar Energy Corporation of India (SECI) has executed over 60 GW of power sale agreements for renewable energy projects within 14 years. These agreements encompass a diverse array of solar, wind, and hybrid projects and ensure long-term power purchase commitments. SECI's efforts aim to bolster payment security for developers, enhance India's renewable capacity, and support the nation's clean energy objectives, including future initiatives in energy storage, green hydrogen, and advanced power models.
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Adani Group to raise up to $500 mn from European funds in energy push
Livemint
·
1y ago
Medial
Adani Green Energy is in the final stages of raising $400-500 million from two European funds. The company, owned by billionaire Gautam Adani's family, plans to sell new shares to raise the funds, which will be used to build new solar, wind, and hybrid power projects in India. Adani Green currently has an operational capacity of 11 GW and aims to expand its capacity to over 20 GW. If the deal goes through, it will be the first time Adani Green raises a significant amount of capital from global funds.
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NTPC Green Energy signs pact for projects worth Rs 2 Lakh Cr in Andhra Pradesh
YourStory
·
8m ago
Medial
NTPC Green Energy Ltd (NGEL), the renewable energy arm of NTPC, has signed a joint venture with NREDCAP to develop renewable energy projects in Andhra Pradesh worth Rs 2 lakh crore. The collaboration aims to focus on solar and wind power, pumped storage projects, and green hydrogen. The project is expected to create over 100,000 jobs and establish Andhra Pradesh as a leader in renewable energy. NGEL recently launched its Rs 10,000 crore IPO, which was fully subscribed on the third day of the share sale.
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Adani Energy raises USD 300 million from TotalEnergies for JV project
Livemint
·
1y ago
Medial
French energy company TotalEnergies has invested $300 million in a joint venture with Adani Green Energy Ltd. The joint venture will include a portfolio of 1,050 MW of renewable energy assets in India, comprising of solar and wind power projects. This investment strengthens the strategic alliance between TotalEnergies and AGEL and supports AGEL's target of achieving 45 GW capacity by 2030. Additionally, AGEL plans to raise ₹9,350 crore ($1.2 billion) through the issuance of preferential warrants to promoters to accelerate its green energy capacity expansion.
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RIL’s stake in Adani Power arm dictated by commercial compulsions
Thehindubusinessline
·
1y ago
Medial
Reliance Industries, led by Mukesh Ambani, has acquired a 26% stake in Adani Power's thermal power arm, Mahan Energen. The move comes as a result of a power purchase agreement between the two conglomerates, with Reliance requiring a power supply of 500 MW, which Adani is able to provide. Both companies are heavily investing in renewable energy, with projects in Gujarat including wind, solar, and green hydrogen. As part of the agreement, Reliance will subscribe to five crore equity shares of Mahan Energen for ₹50 crore, and will own a 26% stake in the company.
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Adani merges step-down subsidiaries with ANIL
YourStory
·
10m ago
Medial
- Adani Group has merged two subsidiaries, Adani Infrastructure Private Limited and Mundra Solar Technology Limited, with Adani New Industries Ltd. - Adani Infrastructure and Developers is primarily engaged in real estate and power project development. - Mundra Solar Technology is involved in the production and distribution of electricity. - Adani New Industries focuses on low-carbon projects such as green hydrogen and wind turbine manufacturing. - Adani Group has a facility for manufacturing solar PV modules and wind turbines. - TotalEnergies holds a 25% stake in Adani New Industries, while Adani Enterprises Ltd holds the remaining equity.
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CleanMax, Toyota Tsusho India join hands to develop 300 MW green capacity in India
Economic Times
·
1m ago
Medial
CleanMax and Toyota Tsusho India have partnered to develop a 300 MW renewable energy capacity in India by 2028. The collaboration aims to provide green energy solutions to Japanese corporates in India, including rooftop solar, standalone ground-mount solar or wind projects, and wind-solar hybrid projects. This initiative supports CleanMax’s strategy of global collaborations to help corporations reduce their carbon footprint while enabling capital-efficient growth, aligning with Toyota Tsusho’s focus on green infrastructure.
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Societe General to lend up to $1 billion to ReNew for energy transition projects
Livemint
·
1y ago
Medial
Societe Generale, a European financial institution, has reached an agreement to provide up to $1 billion in funding for ReNew Global's renewable energy projects over the next three years. This collaboration will support ReNew's plans to expand its green power and decarbonization initiatives in India and globally. The funding will cover various areas such as solar, wind, energy storage, green hydrogen, and solar module manufacturing. ReNew aims to contribute to India's net-zero goals and is actively seeking funds for its ambitious growth plans in the green energy sector.
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