FOURTH PARTNER ENERGY
DEG-IFC-ADB trio eyes renewable energy firm Fourth Partner
A group of German investor DEG, along with the World Bank's International Finance Corporation (IFC) and the Asian Development Bank (ADB), are set to invest $300 million to acquire a controlling interest in Fourth Partner Energy, a renewable energy firm based in Hyderabad.
Why imports from China are rising despite atmanirbhar Bharat initiatives
Imports from China is something India should monitor. But in some ways, this might be the way for the country to become a self-reliant economy.
Billionaire Gautam Adani’s green targets questioned in Snowcap analysis
The company “can meet just 50% of its 50GW target funding requirement by 2030 without raising equity, despite claiming this target is ‘fully funded’,” Snowcap said.
India to get next-generation nuclear fuel, says Russian Nuclear Agency chief; calls nation a key partner
Atomic Energy Commission chairman Ajit Kumar Mohanty was hosted by the Russian Atomic Chief in Siberia's Tomsk region in Russia on Thursday. The Russian Atomic Chief showed Mohanty the fourth-generation site that will host the safest atomic reactor in history, RT-India reported.
Stocks in news: PFC, Mankind Pharma, Patanjali Foods, Bharti Airtel, Siemens, Cipla
Benchmark equities surged for the third consecutive day on Tuesday. PFC, Mankind Pharma, Patanjali Foods, Bharti Airtel, Siemens, and Cipla are in focus for news developments and quarterly results. RVNL, Dixon, and Titagarh will also announce their fourth quarter results today.
AGEL is India's first and fastest renewable energy player to achieve 10.9 gigawatts operating capacity, says Executive Director Sagar Adani
AGEL, India's top renewable energy player, hit 10.9 gigawatts. Q4 FY 2023-24 results shared with future strategies. Khabra project targets 30 gigawatts by 2029. Strong revenue, EBITDA growth, reduced debt. Emphasis on investors, ESG focus.
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Car giants vie for EV crown at Beijing's Auto China show
Beijing's Auto China show, which lasts until May 4, sees dozens of firms square off in a bid to draw customers at one of the country's biggest car shows. Thursday saw crowds surge into the convention complex hosting the event, which takes place every other year but had not been held since 2020 because of the pandemic.
Stocks in news: Infosys, Bajaj Auto, HDFC Life, Tata Communications, Angel One
Angel One's fourth-quarter profit rose 27% as trading activity helped more than make up for its higher spending amid heated competition for clients.
Fourth Partner Energy raises Rs 125-crore debt
Founded in 2010 by entrepreneurs Vivek Subramanian and Saif Dhoraijwala, FPEPL has raised ₹1,600 crore in equity funding since its inception, with investments from funds like TPG's Rise Fund and Norfund, a Norwegian development-focused fund.
Electoral bonds: A look at top buyers, other key numbers
Here’s a look at the top electoral bond buyers along with an examination of some of the other key numbers that have emerged from the initial data dump.
Mega US shale deal: Diamondback to buy Endeavor for $26 billion
The deal would see the combined company pumping 816,000 barrels of oil equivalent per day (boepd), and annual synergies of $550 million, coming up to more than $3 billion in net value over the next decade. Diamondback expects the deal to close in the fourth quarter.
IFC-ADB, just climate in race to buy fourth partner energy
Fourth Partner focuses on building and financing renewable energy projects for commercial and industrial entities. It has an installed portfolio of 1.35 GW and is targeting to expand that to 3.5 GW by 2025. In fiscal 2022, it posted revenue of ₹1,018 crore, up from ₹459 crore the previous year, as per latest available financial numbers.
India to pump in about Rs 200 cr to explore, develop five lithium blocks in Argentia: Govt
"The project will help India strengthen lithium supplies, while developing lithium mining and downstream sectors of both the countries," mines minister Pralhad Joshi said in a post on X. India, among the world's top greenhouse gas emitters, has been pursuing overseas pacts to secure key minerals in resource-rich countries such as Australia, Argentina and Chile.
BlackRock strikes $12.5 billion deal for Global Infrastructure Partners
The deal, which includes $3 billion in cash and 12 million BlackRock shares, will put the asset management giant at the heart of investing in ports, power, and digital infrastructure projects around the globe. Once the deal closes, the firm will hold approximately $150 billion in infrastructure assets across a portfolio that ranges from the U.S. liquefied natural gas export market to wastewater services in France to airports in England and Australia.
SJVN gets govt approval to form JVs for 8778 MW hydro, renewable projects
Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India has agreed to the proposal of SJVN and Ministry of Power to form four joint venture (JV) companies for the development of Hydro and Renewable Projects in India and Nepal. The company has emerged as a major public sector power entity in the Indian power scenario. The project portfolio of the SJVN is more than 56,000 MW, with a presence in Pan India and Nepal.
ET Awards for Corporate Excellence: How Adani Green Energy emerged as renewable & clean's new grid of life
Vneet Jaain, MD, Adani Green Energy, said, "This recognition fuels our determination to enable affordable and accessible clean energy. We will continue to innovate, leverage technology, build an indigenous supply chain, fast track execution and lead the way for sustainable growth powered by new energy systems." The company is committed to large-scale renewables, developing an indigenous fully integrated manufacturing ecosystem and green hydrogen solutions, he said.
ET MSME Awards: Winners set to be revealed at today's Grand Finale and Award Ceremony in New Delhi
The Grand Finale and Felicitation Ceremony of the ET MSME Awards 2023-24, happening today in New Delhi, will reveal the winners of India’s most influential MSME awards. The event will honour and acknowledge Indian MSMEs for their outstanding business excellence and remarkable contributions to the country’s socio-economic growth.
Actis, Edelweiss, Petronas eye Finnish company Fortum JV's solar assets
ET first reported on April 25 that Kotak Mahindra Capital had been appointed to find buyers for the solar portfolio. "The prospective buyers are currently conducting due diligence on the solar assets and final bids are expected soon. These are good quality assets and have generated strong investor interest," said one person aware of the development.
Petronas, two others eye green energy co Fourth Partner
Petronas owns Amplus Solar in India that has an operating portfolio of 1.5 GW of renewable assets. Vitol owns around 1.2 GW of renewable assets, while Indonesia-based Sun Energy has installed over 280 MW of renewable power capacity for corporate clients. Norfund, a Norway government sponsored investment fund, which invested $100 million in the company in 2021, will continue to hold its stake, the source added.
'Temperature records broken, food insecurity increasing': Plea to G20 to triple renewable energy capacity by 2030
Sultan Al Jaber, COP 28 President-designate, has urged G20 nations to show leadership and triple renewable energy capacity by 2030 to help limit global warming to 1.5°C. Speaking at the G20 Environment and Climate Sustainability Working Group and Ministerial Meeting in Naples, Jaber expressed concern that his call to action had yet to find expression in G20 outcomes.
RIL, Bharat Benz unveil luxury concept hydrogen powered coach
Bharat Benz and Reliance Industries unveiled India's first intercity luxury coach concept powered by Hydrogen Fuel Cell technology at the fourth Energy Transitions Working Group meeting. The luxury bus is equipped with a fuel cell system designed and developed by Reliance Industries using state of the art components from international partners.
Green energy in our collective interest: EAM S Jaishankar
"Energy, renewable energy particularly, is our collective interest," Jaishankar said in his opening remarks. "Many of you are members of the International Solar Alliance. I think 13 members are there from the CARICOM. I believe it's been of some help in capacity building, in some cases even funding. I'll be again open to taking that help. Regarding capacity building as a whole, we have for many years now under what we call the ITEC (Indian Technical and Economic Cooperation) programmes."
Adani Green Energy's capacity up at 8,024 MW
Adani Green Energy's operating renewable portfolio has reached 8,024 MW, the largest in India, with the opening of its fourth wind-solar hybrid power plant in Jaisalmer, Rajasthan, the company said on Friday.
Adani stocks soar up to 10% after Rs 15,000 crore mega deal with GQG Partners
Shares of Adani Enterprises were locked in 10% upper circuit limit at Rs 1,767.35. Stocks of 6 other group companies - Adani Transmission, Adani Green Energy, Adani Total Gas, Adani Wilmar, Adani Power and NDTV - were locked in their 5% upper circuit brackets.
Hinduja renewables joins race to buy major stake in Fourth Partner Energy
Hindujas are shortlisted for the next round as are other contenders - Brookfield Asset Management Inc, Ontario Municipal Employees' Retirement System (OMERS), and US fund I Squared Capital.
Fourth partner buys on-site solar assets of ReNew Power
Hyderabad-based Fourth Partner Energy has acquired the onsite distributed solar generation portfolio of ReNew Power for ₹650 crore, people familiar with the deal said.
Fourth partner, Keppel, others eye majority stake in Cleantech
A supplier of renewable energy to corporations in India and Southeast Asia, Singapore-headquartered Cleantech Solar has a 600-megawatt portfolio under various stages of development in India, Indonesia, Cambodia, Malaysia, Thailand, Vietnam and Singapore.
Norwegian PE to invest $125 million in Fourth Partner
The Norwegian investment fund for developing countries has deployed about $3.3 billion till date across the world, of which about $1.5 billion has been invested in the clean energy sector.
Dutch SHV Energy to invest Rs 1800 cr in SunSource Energy in 2 yrs
Netherlands-based conglomerate SHV Energy, part of one of the largest global private trading groups SHV Holdings, has marked its foray into solar energy space by the acquisition of a majority stake in Noida-headquartered SunSource Energy.
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