Reliance to acquire cobalt-free battery specialist Lithium Werks
The Indian multinational business conglomerate has signed the agreement to buy Netherlands-headquartered lithium iron phosphate (LFP) battery specialist Lithium Werks for US$ 61 million, including funding for future growth.
Torrent Power to acquire 25 MW solar plant, Reliance completes acquisition of 40% stake in Sterling & Wilson Solar
The 25 MW solar project acquired by Torrent Power benefits from a a 25-year power purchase agreement with Gujarat Urja Vikas Nigam Ltd. Reliance New Energy Solar Ltd, a wholly-owned unit of Reliance Industries Ltd, now holds 40% of the total paid-up equity share capital of Sterling & Wilson Solar following acquisition of a further stake from its promoters.
Virescent Renewable Energy Trust raises INR 650 crore via domestic bonds
The investors included domestic financial institutions India Infrastructure Finance Company Limited and Aseem Infrastructure Finance Limited. Virescent shall use the proceeds primarily to fund solar asset acquisitions related debt requirements.
ReNew Power sells rooftop solar portfolio to Fourth Partner
The NASDAQ-listed Indian renewable energy developer has sold off its 117 MW/138 MWp of distributed rooftop solar portfolio to Hyderabad-based Fourth Partner Energy for INR 6.72 billion (US$89.9 million), ensuring its increased focus on higher-return, larger-scale projects.
Exide infuses US$2.68 million into lithium battery JV with Leclanché
Exide Leclanche Energy Private Limited, the joint venture with Swiss energy storage specialist Leclanché, has a lithium battery pack and module assembly factory in Gujarat.
Apollo Tyres Ltd raises 27.2% stake in captive solar plant
The captive solar plant, being developed by Cleantech Solar arm CSE Deccan Solar, will supply 40 million units of electricity per annum to the tyre manufacturer’s Chennai facility.
Reliance New Energy Solar buys 1.84 crore Sterling & Wilson Renewable shares from Shapoorji Pallonji
Consequent to this acquisition, Reliance New Energy Solar holds 25.16% of the total paid-up equity share capital of Sterling & Wilson Renewable Energy (formerly known as Sterling and Wilson Solar Limited).
NHPC to acquire majority stake in 500 MW floating solar JV with GEDCOL
State-run hydropower producer NHPC will form the joint venture with a capital investment of INR 500 crore, raising a majority stake of 74% with the rest 26% held by Green Energy Development Corporation of Odisha Limited (GEDCOL).
Vedanta acquires nickel and cobalt producer Nicomet
The Mumbai-headquartered natural resources company has acquired Goa-based Nicomet, a producer of cobalt, nickel, and their derivates in India, as it looks to capitalize on the electric vehicles and energy storage boom.
Renewable energy project acquisitions jumped by more than 300% in value terms in 2021
The growth in acquisitions was supported by conducive global financial conditions and accommodative monetary policy maintained by the Reserve Bank of India.
