ENEL GREEN POWER
Brookfield targets USD 10 billion investments in renewable sector
Canada’s Brookfield Asset Management plans to triple its investments in India’s renewable energy sector to over $10 billion within the next three to four years. The firm is also exploring opportunities in electric vehicles and green hydrogen. With a current portfolio of over 25 GW, Brookfield is the second-largest investor in India’s green energy assets. Through its new Catalytic Transition Fund, Brookfield aims to further its commitment to clean energy and transition projects in emerging economies, including India.
JSW, Torrent, Masdar among suitors for Enel's India assets
The portfolio of Enel Green Power India comprises 760 megawatts (MW) of operational wind and solar power assets and a development pipeline of 2 gigawatts (GW). Of the operational capacity, solar power projects comprise 420 MW, with the balance 340 MW coming from wind power.
Masdar, Gentari, others eye majority stake in Ayana Renewable Power
The majority stake sale will value Ayana's equity at $1 billion, with an enterprise value - inclusive of debt in the capital structure - around $2.5-3 billion, sources told ET. Non-binding bids will likely be in by mid-April, said these officials.
Startup bets wood can make wind turbines even greener
While the wind industry is facing challenges due to cost increases, supply-chain bottlenecks and financing, forecasts for growth are still big as nations work on meeting their CO2 targets.
China leaves everyone behind in race for renewables income
Several Chinese companies are benefiting from the country's dominant position in the clean energy supply chain and making revenues from the same.
Norwegian Climate Investment Fund to invest in Indian wind power plant
Enel Green Power has secured equity and loan guarantees totalling INR 4bn ($53.9m) from Norway's largest pension fund KLP and state enterprise Norfund for a 168 MW wind power project in Gujarat, India. Enel has a 25-year power purchase agreement and the facility is expected to produce approximately 700 GWh per annum, avoiding approximately 573,000 tonnes of carbon dioxide per year.
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Europe set for two new gigafactories as it lures battery makers
Sweden's Northvolt said it is set to pick Heide in northern Germany for its factory as long as subsidies are approved, estimated by one source close to the matter to be over €600 million. Taiwan's ProLogium, meanwhile, announced a new plant in the French city of Dunkirk
India-EU trade pact to promote economic ties: CII
Commerce and industry minister Piyush Goyal had meetings with CEOs of some prominent Italian companies like SOL, SpA, Piaggio, CIBJO, Nayara Energy and Enel Green Power. The minister explained to them the investment climate in India, the policy reforms and the potential of investing and expanding in India.
Norway’s Climate Investment Fund and KLP invest in Indian transmission sector
In partnership with the ReNew Power, one of the largest renewable energy independent power producers (IPPs) in India and globally, Norfund and KLP will invest around 900 million INR (109 million NOK) for 49% ownership stake in ReNew’s transmission project in the Koppal district in Karnataka, with ambitions for further joint investments.
PTC India gets 3,500 MW renewable energy supply offers against 1,000 MW sought
Most of the big domestic private players, including Tata Power Renewable Energy Ltd (TPREL), Torrent Power and ReNew Power, participated in the process.
More ambitious emissions reduction targets will help Indian fossil fuel giants such as NTPC, Tata Power: IEEFA
IEEFA's report notes that NTPC and Tata Power may be able to meet their capital requirements through traditional financing. However, if the RBI's recommendations are implemented the companies are likely to face rising financing costs. "Global investors are increasingly concerned about climate risk," says IEEFA report.
India’s renewable energy journey: Two steps forward, one step back
The capacity growth in solar still falls far short of the average annual build rate of 30GW that is required to achieve the target of 300GW of solar capacity by 2030. The wind power sector has faced even bigger policy headwinds.
Tariffs for pure wind projects trend downwards as ReNew, Sembcorp, Evergreen discover it at Rs 2.69 per unit
ReNew (300 MW), Sembcorp's wholly-owned subsidiary Green Wind Infra Energy (180 MW), and Evergreen's Anupavan Renewables (150 MW) won their bids at ₹2.69 per unit, while 450 MW went to Adani at ₹2.70.
Covid-19 pandemic has dimmed the clean power market
Corporate demand for clean electricity is declining for the first time because more employees are working from home than ever before. This is most notable for companies in the RE100, which have all pledged to offset 100% of their electricity consumption with clean energy.
Wind energy cos seek deadline extension for project completion
At a meeting between renewable energy companies and the Ministry of New and Renewable Energy (MNRE) in June, wind companies have requested the government to extend the deadline for project completion to at least 24 months, according to people who attended the meeting.
Abu Dhabi wealth fund in talks with KKR over Italian grid deal: Sources
Rome typically welcomes foreign investments but demands assurances that investors will follow the country's national interests. The government has special vetting powers to block unwanted bids in industries deemed of strategic importance.
Solar tariffs may plunge further: Analysts
Solar tariffs set a new record of Rs 2.36 per unit in a 2000 MW auction conducted by the Solar Energy Coporation of India, the ministry of new and renewable energy's nodal agency responsible for conducting wind and solar auctions. Almost the entire 2000 MW capacity was bagged by international developers including Spain's Solarpack, Italy's Enel Green Power and Canadian developer AMP Energy among others.
Solar tariffs fall to record low of ₹2.36/Unit
According to the people cited earlier, Spain's Solarpack won 300 MW at Rs 2.36 per unit, while Italy's Enel Green Power won 300MW at Rs 2.37 per unit. Germany's IB Vogt won 300 MW at the same tariff. Canadian developer AMP Energy and New York-based Eden Renewables won 100MW and 300MW, respectively, at Rs 2.37 per unit.
Three bids for Anil Ambani’s Delhi power distribution business
The Anil Ambani-led Reliance Group is looking to sell assets to pay off lenders.
Only two bidders interested in SECI wind energy auction
The 1,200 MW tender was issued by SECI, the central government's nodal agency responsible for conducting auctions, for the second time this week at a ceiling tariff of Rs 2.93 per unit.
SoftBankled energy leads enthusiastic bidding in wind power auction
The positive response to the tender has come largely on account of the government actively trying to address land and transmission issues.
Wind auction bids stay on the lower side
Although the auction was progressing and the lowest tariff could fall further, industry analysts feel that prices are already close to rock bottom.
Top fossil fuel players back PM Narendra Modi’s goal to shore up India's clean energy sector
In order to promote renewable energy and energy security, the government has targeted eight percent of total consumption of electricity.
SunEdison to put 400 MW of upcoming solar capacity on sale; calls off Continuum buy
The world’s largest renewable energy developer is significantly downsizing its India footprint by monetising its entire 400 mw of solar capacity.
Bharat Light & Power and Norway’s Statkraft float JV to provide solar energy solutions
Bharat Light & Power has formed a JV with state-owned Norwegian power company Statkraft to provide distributed solar energy solutions in India.
Italy’s Enel Green Power acquires a majority stake in BLP Energy
With this transaction EGP enters the Indian renewables market, thus reaching more than 10 GW of net installed capacity globally.
Italy’s Enel Green may invest around Rs 900 crore in BLP in next 2-3 years
Italian multinational Enel Green Power is in negotiations with BLP to make a significant investment for a controlling stake in the company.
Wind Sector venture capital funding at $210 m in Q2 2013
Venture capital funding for wind power picked up significantly during second quarter of 2013 amounting to $210 million.
Global venture funding in wind energy sector touched $240 million
Wind energy may have attracted lukewarm response in India but global venture funding in wind energy sector touched $240 million, according a report.
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