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Hinduja Group's renewable energy arm targets fundraise from global funds
VCCircle
·
2m ago
Medial
Hinduja Renewables Energy Pvt Ltd, part of the Hinduja Group, is aiming to secure equity funding from global investors. The company operates a diverse portfolio of solar power plants across India. While specific details of the funding round are undisclosed, this move indicates the company's efforts to expand its renewable energy operations. Sources close to the matter have provided insights into the fundraising plans, reflecting the growing interest in India's renewable energy sector.
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Tycoon drives India’s push against China’s solar-energy dominance
Livemint
·
9m ago
Medial
India's Adani Group, founded by billionaire Gautam Adani, is establishing a solar supply chain to reduce its reliance on Chinese imports and meet India's renewable energy targets. The group plans to set up indigenous manufacturing of ingots, wafers, cells, and panels, and is constructing a solar farm that will cover an area over five times larger than Paris. India aims to install 500 gigawatts of renewable energy capacity by 2030 but is currently two-fifths of the way there. Adani Group's investments throughout the supply chain, including local manufacturing, offer opportunities to address the tension between renewable energy targets and reducing dependence on Chinese imports.
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How has JSW’s acquisition of Mytrah green energy portfolio panned out?
VCCircle
·
9m ago
Medial
JSW Energy's acquisition of Mytrah Energy's green energy portfolio, which took place over two years ago, has proven to be successful. In the financial year 2023-24, JSW's green energy arm has reported positive results, indicating the positive impact of the acquisition. The acquisition was the largest in JSW Energy's history, allowing them to expand their renewable energy portfolio by 1.75 GW. This move aligns with JSW Group's focus on sustainability and renewable energy initiatives.
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BluPine Energy secures Rs 239 crore funding from Tata Capital
Economic Times
·
1y ago
Medial
Renewable energy services company BluPine Energy has secured Rs 239 crore in financial assistance from Tata Capital. The funds will be used for a solar power project in Chhattisgarh, which is projected to generate 75 megawatts of energy annually and offset over 107,000 tonnes of CO2 emissions. BluPine Energy is backed by Actis, a global investor in sustainable infrastructure companies, while Tata Capital is the non-banking financial arm of the Tata Group.
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JSW Energy raises ₹5,000 cr QIP to accelerate growth plans
Livemint
·
1y ago
Medial
JSW Energy, a subsidiary of JSW Group, has raised ₹5,000 crore through a qualified institutions placement (QIP) to support its growth plans. The funds will be used for debt repayment and investment in JSW Neo Energy, the company's renewable arm. The QIP garnered strong interest from global long-only investors, domestic mutual funds, and insurance companies, resulting in an oversubscription of over 3.2 times. JSW Energy aims to reach a generation capacity of 20 GW and an energy storage capacity of 40 GWh by 2030, with carbon neutrality by 2050.
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PAG raises $550 mn for Asia renewable energy fund from Mubadala, other investors
VCCircle
·
1y ago
Medial
PAG, an investment firm in Asia-Pacific, has raised $550 million for its renewable energy fund, with a focus on solar power in Japan. The fund, called PAG REN I, attracted investments from pensions, sovereign wealth funds, and fund-of-funds investors. Mubadala Investment Company, an Abu Dhabi sovereign investor, made a cornerstone investment in the fund, marking its first investment in Japan's clean energy sector. The strong response to the fund reflects investor confidence in the need to transition from fossil fuels to clean energy sources in Asia. Japan requires significant annual investments to reach its renewable energy targets.
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Adani puts Hindenburg behind with a $3-billion fundraising plan
Livemint
·
1y ago
Medial
The Adani Group is in talks with several global private equity firms and Indian banks to raise $2.5-3 billion in the next four months. Firms such as Centerbridge Partners, Pacific Capital Group, and International Holding Co. have expressed interest in investing in Adani New Industries, Adani Airport Holdings, and Adani Green Energy. The funds will be used to fast-track projects in the airport and renewable energy sectors, including the Navi Mumbai International Airport and the group's green hydrogen and solar panel manufacturing businesses. The Supreme Court ruling on the Hindenburg Research case has renewed interest in the Adani group's projects.
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Qatar's Nebras deal with Aditya Birla Group's green arm on hold
Livemint
·
9m ago
Medial
Qatar's Nebras Power's potential acquisition of up to 49% stake in Aditya Birla Group's renewable energy business for $400 million has been delayed due to a "valuation mismatch." Other bidders for Aditya Birla Renewables Ltd were Alberta Investment Management Corporation and BlackRock's Global Infrastructure Partners. India aims to double its green energy capacity to 500 GW by 2030, attracting interest from major investors. However, challenges in the Indian market include lower returns and higher execution risks. Aditya Birla Renewables plans to increase its renewable energy capacity to 4.5 GW by FY26, while Nebras Power has an installed capacity of 6.79 GW.
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India Needs To Progress From 0.5% Of Power For Compute To Global Average Of 3%: Nvidia's Vishal Dhupar
OutlookIndia
·
5m ago
Medial
Nvidia's Vishal Dhupar emphasizes India's need to increase its compute power consumption from 0.5% to the global average of 3%. Despite having a large population, India's compute fabric remains small. Dhupar sees this as an opportunity for India to adopt energy-efficient compute infrastructure and avoid legacy system inefficiencies. He highlights the importance of integrating energy and technology, especially as AI advances, to enhance renewable energy efficiency and accelerate India's energy transformation, moving toward ambitious clean energy targets.
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PE investor Creador picks up minority stake in Hinduja Tech
VCCircle
·
1y ago
Medial
Hinduja Tech, the digital engineering arm of Hinduja Group, has sold a minority stake to Creador, a South and Southeast Asia-focused private equity firm. Creador will invest $50 million for a 19.6% stake in Hinduja Tech, valuing the company at approximately $255 million. Hinduja Tech plans to use the capital to pursue new opportunities in the sustainable mobility engineering sector and expand its global presence. In the fiscal year 2023, the company's operating revenue grew by nearly 54% to Rs 393 crore.
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Vedanta-owned Sterlite Power raises ₹725 crore from private equity investors to fuel expansion plans | Company Business News
Livemint
·
7m ago
Medial
Sterlite Power, owned by Vedanta Ltd, has raised INR 725 crore from foreign and domestic investors to support its expansion plans. The funds will be used to enhance production capacity, develop new products, and expand internationally. US-based GEF Capital Partners and Mumbai-based ENAM Holdings participated in the fundraise. Sterlite Power aims to deliver reliable power solutions that contribute to India's energy transition and support the growth of renewable energy. This is the first fundraising for the company since its demerger in 2024.
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