Scatec enters Indian solar market
The Norwegian renewables business has acquired a 50% stake in Acme’s 900 MW solar project in Rajasthan. The project will benefit from a 25-year PPA with the Solar Energy Corporation of India.
Adani Green transfers stake in solar manufacturing arm to Adani Enterprises
Adani Enterprises, which already controls Mundra Solar PV, has acquired a 74% stake in PV cells and modules manufacturing business Mundra Solar Energy through its subsidiary. The move will bring synergy in the company’s solar manufacturing operations and solidify its position in this space.
Adani Green to buy SB Energy’s 5 GW renewable portfolio in India
The Indian developer has agreed to acquire a 100% interest in SB Energy’s India renewable portfolio for approximately US$3.5 billion (INR 26,000 crore). The assets, totaling 4,954 MW, are spread across four Indian states.
Virescent Infrastructure acquires 76 MW of operating solar assets in India
US investor KKR-backed Virescent Infrastructure has acquired Singapore-based Sindicatum Group’s operating solar assets in three Indian states. The acquired PV projects benefit from long-term power purchase agreements with government counterparties.
Dutch LPG major acquires majority stake in SunSource Energy
SHV Energy, a Netherlands-headquartered global distributor of liquefied petroleum gas (LPG), has invested in India’s SunSource Energy as it seeks to realize new opportunities within distributed renewable energy. The investment also enables SunSource to expand its distributed solar portfolio.
RattanIndia forays into electric vehicle space
The private-sector power producer is investing an aggregate INR 150-crore amount into Revolt Intellicorp, a next-generation electric mobility company, as part of its strategy to diversify into new business avenues.
Indian firm purchases American hydrogen cylinder maker Catalina Composites
New Delhi-headquartered Uttam Group of Companies has purchased California-based Catalina Composites as it sees a surge in demand for clean energy solutions, including hydrogen. The company will invest at least $20 million in staff, equipment, and research and development of high-pressure cylinder production for hydrogen and compressed natural gas.
Amplus acquires rooftop solar projects from Sterling and Wilson
The Gurugram-headquartered distributed solar energy company has acquired Sterling and Wilson’s 7.2 MWp of on-site rooftop solar projects across seven Indian states.
Azure Power sells 152 MW solar rooftop portfolio to Radiance Renewables
The New Delhi-based developer has agreed to sell its 152 MW of solar rooftop portfolio for INR 536.5 crore (US$ 73.5 million) as it focuses on capital discipline and improving shareholder returns.
Adani Green acquires 20 MW solar assets from Hindustan Power
Following 75 MW solar assets in Telangana, Adani Green Energy has completed the acquisition of 20 MW PV assets in Uttar Pradesh for INR 133 crore.
