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ReNew eyes Orange’s portfolio in $950 million deal to bulk up before IPO

According to reports, Sumant Sinha led ReNew Power Ventures Pvt Ltd, a Goldman Sachs backed clean energy company — is in active discussions with Orange Renewable to acquire its portfolio of a little over 600 MW of predominantly wind and a smattering of solar assets for Rs 6175 crore ($950 million) of enterprise valuation, according to multiple officials in the know. Renew has already submitted a non binding offer and is conducting diligence, the sources add. Orange promoted by Singapore’s AT ... Read More »

Tata Power to invest $90m in renewable energy arm TPREL

According to reports, Tata Power Co. Ltd plans to invest around $90 million (close to Rs600 crore) in equity capital in its renewable energy arm Tata Power Renewable Energy Ltd (TPREL) as the company seeks to develop its immediate pipeline of 320 megawatts (MW) of solar assets, two people aware of the development said. TPREL currently owns around 2 gigawatts (GW) of solar and wind assets, including the assets that it acquired from Welspun Energy. In all, Tata Power owns over ... Read More »

Green energy firm Inox Wind on road to insolvency after NCLT clears process

 According to reports, wind power solutions company Inox Wind is headed for insolvency after the National Company Law Tribunal’s (NCLT) Chandigarh bench ordered the commencement of the process in response to an operational creditor’s plea, in the first such case in the renewable energy sector. The company has been facing tough times, reflecting the dichotomy in the renewable energy sector where capacity is growing driven by the government’s solar energy push, but where wind energy players are forced to compete with the sharply lower tariffs quoted by ... Read More »

Power grid integration to quicken renewables makeover

According to reports, when the sun shines brightly, it’s manna from heaven for a solar producer. But for an electricity distributor, the surge in the power lines can be a nightmare. This unpredictability of solar and wind energy has long been a technical challenge that requires adroit balancing of the power grid. India is now on the threshold of attaining this balance. The new Greening the Grid report, prepared by Energy Ministry and the US Agency for International Development (USAID), ... Read More »

Sun to shine on solar, wind power may lag: Icra

According to reports, solar capacity addition, at 7-7.5 megawatt (mw), is likely to exceed wind’s this fiscal even as experts have flagged risks such as not enough buyers and debt leverage in the renewables sector. Credit rating agency Icra said on Tuesday that the share of the wind and solar capacity is estimated to be 35% and 55% respectively, out of the total 65 gigawatt (gw) capacity addition estimated during fiscals 2018 to 2022. Sabyasachi Majumdar, senior vice-president and group ... Read More »

Wind industry getting into a ‘distress situation’

According to reports, after soaring to a record 5,400 MW of installed capacity set up in 2016-17, the Indian wind industry is heading for a sharp nosedive this year. By the looks of it today, installations in 2017-18 could barely cross 1,000 MW. “It is a distress situation”, says Ramesh Kymal, Chairman and Managing Director of Gamesa, a leading wind turbine manufacturer. The reason for this is that the state governments are holding back. The industry is trapped in the ... Read More »

Green energy firm Inox Wind on road to insolvency after NCLT clears process

According to reports, wind power solutions company Inox Wind is headed for insolvency after the National Company Law Tribunal’s (NCLT) Chandigarh bench ordered the commencement of the process in response to an operational creditor’s plea, in the first such case in the renewable energy sector. The company has been facing tough times, reflecting the dichotomy in the renewable energy sector where capacity is growing driven by the government’s solar energy push, but where wind energy players are forced to compete with the sharply lower tariffs quoted by ... Read More »

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