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IFC commits $105 million for Brookfield’s Bikaner solar power project

Livemint

Livemint · 1y ago

IFC commits $105 million for Brookfield’s Bikaner solar power project

The International Finance Corporation (IFC) will invest $105 million in a 550 MWp solar power project in Bikaner, Rajasthan, developed by Brookfield Asset Management. This investment will enable Brookfield to provide solar power to commercial and industrial consumers in India at competitive tariffs. The project will sell the generated power to consumers through long-term power purchase agreements and the merchant market. This investment by IFC aims to demonstrate the viability of large-scale renewable energy generation and the sale to corporate and industrial clients, contributing to India's decarbonization goals.

Related News

Partners Group-backed Sunsure Energy signs 300MW power deal with SECI | Company Business News

Livemint

Livemint · 7m ago

Partners Group-backed Sunsure Energy signs 300MW power deal with SECI | Company Business News

Sunsure Energy has secured its first utility-scale solar power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) for 300 megawatts (MW) of renewable energy. The project, a solar park in Bikaner, Rajasthan, costing ₹1,800 crore, aims for completion by December next year. This agreement, part of SECI’s Tranche XIII auction, significantly marks Sunsure’s expansion into utility segments, complementing its focus on commercial and industrial clients, aligning with India's power transition goals.

IFC commits Rs 460 cr to IndiGrid to build India's largest battery energy storage project

Economic Times

Economic Times · 1m ago

IFC commits Rs 460 cr to IndiGrid to build India's largest battery energy storage project

IFC, part of the World Bank Group, has committed Rs 460 crore to develop India's largest standalone battery energy storage system in Gujarat through IndiGrid. This project, which supports Gujarat's clean energy goals and aims for 100 GW of renewable capacity by 2030, will enhance grid stability and provide reliable power during peak demand. The financing includes $38.5 million from IFC and $16.5 million from the Clean Technology Fund. This initiative is crucial for India's clean energy transition.

Engie arm pockets smaller cheques from foreign investors for India solar project

VCCircle

VCCircle · 1y ago

Engie India, the renewables arm of French energy company Engie, has secured funding from foreign investors for a solar power project in Gujarat. The company has raised a lower amount than expected, but it will still be used for the construction and maintenance of a 400MW solar power project. Engie has been actively bidding to win solar and wind power projects in India.

ACME Sikar Solar inks pact to supply electricity from 300MW project in Rajasthan

Economic Times

Economic Times · 2m ago

ACME Sikar Solar inks pact to supply electricity from 300MW project in Rajasthan

ACME Sikar Solar, a subsidiary of ACME Solar Holdings, has signed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India for a 300MW solar project in Rajasthan at Rs 3.05 per kWh. Commissioned on June 23, the project will supply power by June 30, 2025, and qualifies for ISTS charge waivers. ACME Solar's PPA-signed portfolio is 5,130 MW, with 2,890 MW operational and 4,080 MW in various implementation stages.

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

Livemint

Livemint · 10m 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.

Thailand's Gulf Energy set to get key backer for $1-bn solar power project

VCCircle

VCCircle · 1y ago

Thailand's Gulf Energy set to get key backer for $1-bn solar power project

Thailand's Gulf Energy Development is set to receive financial backing for its $1 billion solar power project. The company plans to expand its renewable energy portfolio with 12 new solar projects as part of the GULF Renewable Power Project. Gulf Energy is one of Thailand's largest private power producers and aims to increase its presence in the renewable energy sector.

Hindustan Power gets order to set up 100 MW solar project with 200 MWh energy storage system

Economic Times

Economic Times · 1m ago

Hindustan Power gets order to set up 100 MW solar project with 200 MWh energy storage system

Hindustan Power has secured a project from SJVN to establish a 100 MW solar plant with a 200 MWh energy storage system. The project, part of a 1200 MW solar initiative, was won through competitive bidding and an e-reverse auction. It aims to manage peak power demands and provide a steady power supply by integrating solar energy with battery storage. Hindustan Power is a leader in renewable energy generation in India.

Trident commissions solar project in Madhya Pradesh, stock gains

Money Control

Money Control · 1y ago

Trident commissions solar project in Madhya Pradesh, stock gains

Trident Limited has announced the commissioning of a 1.1 MWp solar power project in Budhni, Madhya Pradesh. The project is part of the company's initiative to reduce its carbon footprint and will contribute to the captive consumption of power for its manufacturing facilities at the same location. The total installed capacity of the rooftop solar power plant at the facility has now reached 29.5 MWp. Trident Limited, based in Ludhiana, Punjab, is known for manufacturing various products including yarn, paper, stationery, home textiles, chemicals, and captive power.

Torrent Power wins ₹1,540-crore bid for 306 MW solar power project in Maharashtra

Thehindubusinessline

Thehindubusinessline · 1y ago

Torrent Power wins ₹1,540-crore bid for 306 MW solar power project in Maharashtra

Torrent Power has received a Letter of Award from Maharashtra State Electricity Distribution Co Ltd (MSEDCL) to set up a 306 MW grid-connected solar power project in Maharashtra. The ₹1,540 crore project will be implemented across 48 locations in Nasik district under the MSKVY 2.0 scheme. The project aims to provide stable daytime electricity to agriculture consumers through decentralised solar power projects. Upon completion, Torrent Power's renewable capacity will increase to 3 GW in the next 18-24 months.

KKR-controlled IndiGrid inks $199-mn deal to acquire solar asset

VCCircle

VCCircle · 1y ago

KKR-controlled IndiGrid inks $199-mn deal to acquire solar asset

India Grid Trust (IndiGrid), controlled by private equity firm KKR, has signed a deal to acquire a 300MW solar power project in Rajasthan from ReNew Power. The enterprise valuation for the asset is estimated at INR 1,550 crore ($199 million). The deal includes an additional earn-out component of around $8 million. ReNew will transfer the outstanding debt of the asset to IndiGrid, resulting in a cash inflow of nearly $82 million. This acquisition will increase IndiGrid's portfolio of operating solar assets to over 1 GW peak capacity.

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