MASDAR
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.
Petronas renewable energy arm leads race to climb green tower at Brookfield
Malaysian energy giant Petronas's renewable energy arm Gentari Sdn Bhd is leading the race for a part of India's renewable portfolio from Brookfield Asset Management.
Green with Envy: Now ONGC, NTPC arm may bid for Ayana Renewable Power
Oil and Natural Gas Corp (ONGC) is reportedly in discussions with NTPC Green Energy to form a consortium for bidding on Ayana Renewable Power, owned by the National Investment and Infrastructure Fund (NIIF). The enterprise value of Ayana is estimated to be around $2 billion. Other entities like JSW Neo Energy, Sekura Energy, Masdar, Macquarie, and Sembcorp have also shown interest in acquiring a controlling stake in Ayana.
ONGC, NTPC Green mull joint bid for NIIF-owned Ayana Renewable Power
ONGC is reportedly in discussions with NTPC Green Energy to jointly bid for Ayana Renewable Power, owned by NIIF. Several potential buyers have submitted non-binding offers for Ayana. ONGC previously announced ONGC Green for renewable projects, while NTPC Green plans an IPO. Ayana focuses on solar and wind energy projects.
NIIF-owned Ayana Renewable Power gets high five from bidders
The bids were submitted after allowing time to the suitors to conduct a limited due diligence that included access to some data and confidential financial information. As the next step, NIIF will communicate a shortlist of suitors over the next few weeks after which two or at best three will be allowed to conduct detailed due diligence, according to the sources.
Dubai’s ‘sustainable city’ was supposed to start a trend. It hasn’t yet
Seven years and 1.3 billion dirhams ($354 million) in construction costs later, only some parts of that claim have been realised.
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.
Global solar projects set to win more than $380 billion investment this year
The International Solar Alliance (ISA) predicts that investment in global solar energy projects will exceed USD 380 billion in 2019. This represents an increase from last year's investment of USD 310 billion and the USD 235 billion invested in the first half of this year. The goal of the ISA is to make solar energy the preferred choice in each of its member countries, which is currently 116 but is expected to reach 120 by the end of the year.
UAE launches it first commercial-sized wind project ahead of UN climate summit
The United Arab Emirates (UAE) has launched its first commercial-sized wind project in an effort to boost renewables ahead of hosting the COP 28 climate summit. The 103.5-megawatt project, run by Masdar, will power over 23,000 homes annually and help reduce carbon emissions by 120,000 tons per year, equivalent to removing 26,000 cars from the roads.
UAE announces leadership team for climate COP28
Al Jaber is Minister of Industry and Advanced Technology, and has served as Special Envoy for Climate Change for two terms (2010–2016, 2020–present). “Al Jaber will develop the COP28 agenda, in partnership with the UNFCCC’s Executive Secretary Simon Stiell and the Egyptian COP27 President Sameh Shoukry,” as per an official statement.
COP27: UAE and Egypt agree to build one of world's biggest wind farms
The memorandum of understanding was signed between the UAE's renewable energy firm Masdar alongside its joint venture with Egypt's main renewable energy developer Infinity and Hassan Allam Utilities, the statement on news agency WAM said.
COP 27: UAE and Egypt agree to build one of world's biggest wind farms
In April, Masdar and Hassan Allam Utilities signed two Memoranda of Understanding with Egyptian state-backed organisations to cooperate on the development of 4 GW green hydrogen production plants in the Suez Canal Economic Zone and on the Mediterranean coast.
Germany inks LNG deal as chancellor visits Gulf to secure energy
Though the initial amount to be delivered is relatively small, it's a politically significant deal to shore up supplies of gas from outside of Russia as Chancellor Olaf Scholz seeks to deepen ties with the Gulf and find alternative energy sources.
KKR, Hero to pump $450 million into Hero Future Energies, raise valuation to over $1 billion
HFE's valuation will cross $1 billion with KKR's investment. In November 2019, Abu Dhabi Future Energy Co. (Masdar) picked up a 20% stake in HFE for $150 million, valuing the New Delhi-based company at $750 million
KKR and Hero Group invest $450 Million in Hero Future Energies
US private equity giant KKR & Co Inc and India's Hero Group have agreed to invest $450 million in the motorcycle maker's renewable energy arm, the companies said on Tuesday, as the Indian firm looks to expand its renewable energy capacity.
KKR looks to invest $400 million in Hero Future Energies
The final rounds of negotiations are ongoing before a formal announcement, which is expected in a few weeks. The investment is for a significant minority stake but comes with significant governance rights that would make KKR a co-promoter along with founder chairman and managing director Rahul Munjal.
Larsen & Toubro bags 300 MW solar project in Saudi Arabia
The renewables arm of L&T's Power Transmission & Distribution Business has secured the go-ahead to begin constructing the 300 MW Jeddah solar PV power plant in Saudi Arabia.
Hero Future's stake buy by Abu Dhabi Future Energy gets CCI nod under green channel
The transaction involves acquisition of non-voting compulsorily convertible preference shares in Hero Future Energies.
Abu Dhabi’s Masdar to buy stake in Hero’s Green Energy arm for $150m
Abu Dhabi government-owned energy company Masdar Clean Energy is all set to acquire about 20% stake in Hero Future Energies.
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