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Daily Archives: February 7, 2017

IDFC Alternatives looks to exit Mytrah Energy

According to reports, IDFC Alternatives, the asset management arm of IDFC Ltd, is looking to exit its investment in Hyderabad-based renewable energy firm Mytrah Energy India Pvt. Ltd, ahead of the company’s proposed initial public offering (IPO), said two people aware of the development. In September, Mint reported that Mytrah had started preparations for an IPO to raise between $250 million and $300 million. Mytrah had hired investment banking firms Nomura Financial Advisory and Securities (India) Pvt. Ltd and IDFC Bank ... Read More »

ReNew Power raises $450 mn in green bonds

According to reports, ReNew Power Ventures on Monday raised $450 million from global investors. ReNew bond is rated B+, which is considered speculative grade. The bond has a maturity of five years, with a non-callable option of three years. According to bankers, the bond issue was launched with an initial guidance of 6.375 per cent, but underwriters managed to bring down the coupon to six per cent. The underwriters for the bonds were Goldman Sachs, JPMorgan, HSBC, Bank of America ... Read More »

Towards the next Milestone

According to reports,  the Indian renewable energy industry seems to have kicked off the new year on a positive note, with the announcement of an ₹850-crore investment by IFC, the PE arm of the World Bank, in Hero Future Energies, a company floated by the promoters of the Hero group. IFC pumped in $125 million for an undisclosed equity stake, making the investment a statement of investor confidence in the Indian clean energy sector at a time when the industry ... Read More »

Gamesa opens India blade plant

According to reports, Gamesa has opened a wind blade manufacturing facility in India, its second in the country. The factory at Nellore in Andhra Pradesh state will produce blades for Gamesa’s G114-2.0MW class S turbine, the Spanish company said. Gamesa plans to invest over €100 million this year to reinforce its manufacturing presence in India. The facility currently employs 500 people and is expected to double the headcount within three years. The company owns another blade manufacturing plant at Halol in Gujarat as ... Read More »

Tata Power becomes first Indian firm to ship out 1 GW solar modules

According to reports, Tata Power Solar has successfully shipped 1 GW solar modules worldwide, a first for any Indian solar manufacturer. The company claims to have one of the largest solar manufacturing facilities in India, with modules as well as cell manufacturing capacities. The company has witnessed a steady rise in the number of modules in the past 27 years, with over 60 percent of its modules shipped over the last five years. Tata Power has shipped modules worldwide to over ... Read More »

Bandra-Worli Sea Link will switch to solar energy from April 2017

According to reports, the 5.6 km long Bandra-Worli Sea Link will soon be harnessed to solar energy with a bid to pave way for green energy and to save on electricity bills. Maharashtra State Road Development Corporation (MSRDC) has already floated bids for the appointment of new toll operator who will also be responsible for the installation of solar panels. The solar panels are expected to be installed by March and the system is expected to be functional by April. ... Read More »

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