Oil and gas major Shell has announced plans to acquire Sprng Energy, a renewable energy platform owned by the investment firm Actis. Shell will pay $1.55 billion to acquire Sprng Energy, one of the leading renewable energy project developers in India. The company has 9.6 gigawatts in its renewable energy … [continued]
The Indian subsidiary of Finnish utility Fortum has joined the long queue of Indian solar power developers looking to sell their assets. According to media reports, Fortum India is looking to sell a majority stake in 500 megawatts of solar power projects. Fortum’s plans to sell assets has attracted some … [continued]
Leading Indian renewable energy developers are facing a liquidity crunch due to the COVID 19-induced nationwide lockdown and increased competition from emerging players. The country’s debt-ridden discoms are unable to pay off their dues to the generating companies. This has resulted in sharp increase in the sale of operational assets from various large renewable energy generators in the past few months.
Yet another Indian renewable energy company has sold off a part of its portfolio to raise funds. The latest transaction comes at a time when developers across the country are struggling with financial liquidity and staying away from large-scale auctions.
Atlas Renewable Energy has adopted NEXTracker’s TrueCapture orientation software for several new solar projects in Latin America, while retrofits are in the works for older arrays lacking the control system. Atlas has more than 1 gigawatt of early-stage to fully operational projects across the region.
Atlas Renewable Energy has recently added Brazil to its portfolio of Latin American investment countries, with the start-up of the 67.1 megawatt São Pedro solar plant in Bom Jesus da Lapa, state of Bahia. Already holding a 1.2 gigawatt solar portfolio in Latin America, the second-largest in the region, the Miami-based group has built solar plants in Chile, Mexico, and Uruguay since it was formed in 2017.
Stung by rising competition and missed opportunities in several of the recent solar and wind energy auctions, one of India’s leading renewable energy IPPs is aggressively exploring inorganic growth options.
Despite the record-breaking solar power bids for large-scale solar power projects which have raised concerns about the financial viability of such projects, foreign investors continue to scout for investments opportunities in the Indian solar market.
Lekela Power, a joint venture company between Mainstream Renewable Power and investment firm Actis, has announced its third renewable energy project in Egypt. Lekela Power will set up a 250 MW wind energy project in Egypt which takes the company’s total project pipeline in Africa to 1.1 GW. Lekela Power … [continued]
Prime Minister Narendra Modi and his government have embarked on an ambitious mission to increase India’s renewable energy capacities by over five times by 2022. Taking it from the current 30GW (solar and wind combined) to a target of 175 GW. To achieve its goals, India needs to find, among other important things, a … [continued]
