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Edelweiss front runner to buy O2 Power’s 350 MW solar projects

Livemint

Livemint · 1y ago

Edelweiss front runner to buy O2 Power’s 350 MW solar projects

Sekura Energy, a platform of Edelweiss Infrastructure Yield Plus Fund, is in the lead to acquire 350 MW of solar projects from O2 Power. The deal is expected to have an equity value of $50 million and an enterprise value of $200 million. O2 Power is a renewable energy platform backed by Temasek and EQT. Edelweiss Infrastructure Yield Plus is also interested in acquiring 400 MW solar power projects from Macquarie Group's Stride platform. This sale comes amidst EQT and Temasek's plans to sell O2 Power for an estimated equity value of $1 billion.

Related News

Grapevine: Edelweiss Alts’ Sekura buys 350 MW project; Pratilipi eyes IPO

VCCircle

VCCircle · 1y ago

Grapevine: Edelweiss Alts’ Sekura buys 350 MW project; Pratilipi eyes IPO

Sekura Energy, a subsidiary of Edelweiss Alternatives, has acquired 350 MW of operational assets from O2 Power in Madhya Pradesh. The assets were purchased for Rs 2,000 crore and were developed for the Rewa Ultra Mega Solar project. In other news, Pratilipi, an Indian storytelling platform, is reportedly considering an initial public offering (IPO). However, no further details were provided in the report.

Jindal Stainless to invest ₹700 crore towards renewables, sustainability projects

Thehindubusinessline

Thehindubusinessline · 1y ago

Jindal Stainless to invest ₹700 crore towards renewables, sustainability projects

Jindal Stainless Ltd (JSL) is planning to invest ₹700 crore over the next three years in sustainability projects, including renewable energy, to reduce its carbon footprint. The company aims to have 300-350 MW of renewable power sources available across its manufacturing units in India, with plans to be net carbon zero by 2050 and reduce emissions by 50% by 2035. The major renewable projects consist of two 100 MW RE-RTC (renewable energy – round the clock) projects, a 34.5 MW peak rooftop and floating solar project, and green hydrogen plants at two locations.

Bottomline: EQT-Temasek platform O2 Power’s India EPC arm turns a corner

VCCircle

VCCircle · 1y ago

Bottomline: EQT-Temasek platform O2 Power’s India EPC arm turns a corner

O2 Power Pvt Ltd (O2PPL), the EPC arm of EQT-Temasek’s Indian renewable energy platform, reported improved financial performance for the year ending March 2024. The company turned a profit and saw increased revenue. O2PPL focuses on developing and constructing renewable energy projects in India.

ReNew in talks with Singapore’s Sembcorp to sell 350 MW solar projects

Livemint

Livemint · 1y ago

ReNew in talks with Singapore’s Sembcorp to sell 350 MW solar projects

NASDAQ-listed ReNew Energy Global is in discussions with Sembcorp Industries to sell 350 MW of solar energy projects in a deal worth around $241 million. This comes after a previous deal for 1.1 GW of solar and wind power assets fell through due to a valuation gap on the wind assets. The current proposed transaction only involves the sale of solar projects. ReNew aims to sell operational clean energy capacity to reinvest in new clean energy assets. Sembcorp aims to have 25 GW of installed capacity by 2028. India's power demand continues to rise, driving several deals in the renewable energy sector.

ACME Sun Power gets ₹3,753-crore loan from REC for wind, solar power projects | Company Business News

Livemint

Livemint · 12m ago

ACME Sun Power gets ₹3,753-crore loan from REC for wind, solar power projects | Company Business News

ACME Sun Power, a subsidiary of ACME Solar Holdings, has secured INR 3,753 crore ($507 million) in term loan from REC Ltd for the development of renewable energy projects with a total capacity of 320 MW. The projects will be located in Rajasthan and Gujarat and will include solar and wind power sites. ACME Solar aims to contribute to India's renewable energy goals and has a total operational capacity of 1,340 MW, with an additional 3,250 MW under construction.

Reliance Group to build solar and hydro-power projects in Bhutan | Mint

Livemint

Livemint · 1y ago

Reliance Group to build solar and hydro-power projects in Bhutan | Mint

- Reliance Group, led by Anil Ambani, will partner with the government's investment arm to develop solar and hydro power projects in Bhutan. - A new subsidiary, equally owned by Reliance Power and Reliance Infrastructure, will be formed for the project. - The subsidiary will focus on developing 500 MW of solar power projects and 770 MW of hydro power projects. - The investment amount for these projects has not been disclosed. - Reliance Power aims to expand its presence in the renewable energy sector and has recently raised $183 million for funding. - In June, another Indian conglomerate, Adani Group, signed an agreement for a 570 MW hydro project in Bhutan.

Waaree Energies secures 692 MW solar module supply orders in India, US

Economic Times

Economic Times · 20d ago

Waaree Energies secures 692 MW solar module supply orders in India, US

Waaree Energies has announced receiving solar module supply orders totaling 692 MW across India and the US. The company secured three major orders in the Indian market, amassing 570 MW. Additionally, its subsidiary, Waaree Solar Americas, obtained an order for supplying 122 MW in the US. These orders, placed by established firms in renewable power projects, will be executed over the years 2025-26 and 2026-27.

ACME Solar Holdings bags 275 MW/550 MWh battery energy storage projects from NHPC

Economic Times

Economic Times · 3m ago

ACME Solar Holdings bags 275 MW/550 MWh battery energy storage projects from NHPC

ACME Solar Holdings secured two battery energy storage projects totaling 275 MW/550 MWh from NHPC, a state-owned company. These projects were won at tariffs of Rs 2,10,000/MW/month for 50MW/100MWh and Rs 2,22,000/MW/month for 225MW/450MWh via an e-reverse auction. The projects are part of the Government of India’s viability gap funding scheme, offering Rs 27 lakh per MWh or 30% of the project cost, whichever is lower, as support.

Reliance Power participates in global bids for 1,500-MW gas-based power project

Economic Times

Economic Times · 4m ago

Reliance Power participates in global bids for 1,500-MW gas-based power project

Reliance Power Ltd is pursuing a 1,500-MW gas-based power project overseas, submitting bids in Kuwait, UAE, and Malaysia. The company plans to relocate two 750 MW modules it possesses in India for these projects, aiming to monetize assets up to Rs 2,000 crore. Reliance Power is strengthening its renewable energy portfolio, engaging in solar, hydropower projects, and a joint venture in Bhutan. It has 1,500 MW equipment ready for quick project execution.

Gentari to supply green power to AM Green Ammonia | Company Business News

Livemint

Livemint · 11m ago

Gentari to supply green power to AM Green Ammonia | Company Business News

Renewable energy company Gentari will provide 650 MW of round-the-clock green power to AM Green Ammonia India. The power purchase agreement will enable Gentari to deliver carbon-free energy to AM Green Ammonia's upcoming green ammonia facilities. The project will include 2,400 MWp of renewable energy capacity from solar and wind projects, as well as 350 MW/2,100 MWh of energy storage. Gentari aims to expand India's renewable energy capacity and contribute to the green electron-to-molecule chain. The agreement aligns with the Renewable Fuels of Non-Biological Origin framework and supports AM Green Ammonia's goal of becoming one of the world's largest green ammonia platforms.

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