Delhi-based renewable energy and telecom solutions company ACME Cleantech Solutions Pvt. Ltd has raised Rs500 crore from Ajay Piramal-controlled Piramal Enterprises Ltd. The investment in ACME was done by Piramal Enterprises’s Structured Finance Group, which provides structured mezzanine funding to companies in various sectors, especially in infrastructure. Mint had reported… Read more »
By Tomas S. Noda III
Called Sidrap Project, it is the first utility-scale wind farm project in Indonesia targeted to have a generating capacity of 75 MW and is expected to be completed before 2017 ends.
Hindustan Clean Energy Ltd (HCEL), the renewable energy arm of Hindustan Power Projects Pvt. Ltd (HPPPL), has raised $130 million in debt funding from US-based hedge fund Farallon Capital Management and Bank of America Merrill Lynch (BofAML), two people aware of the development said. “HPPPL was in talks with the… Read more »
Malaysia’s government enacted the Renewable Energy Act in 2011 to establish and implement a special tariff system that makes generation of renewable energy more affordable.
The fund, aiming to draw $2-3 billion in investments, will build 1000MW of new wind and solar farms to support Australia’s renewable energy capacity and transition to a low-carbon economy.
IFC and Singapore-based renewable energy-dedicated private equity fund Armstrong S.E. Clean Energy Fund, are making an investment in Vietnam’s Gia Lai Electricity Joint Stock Company.
The funding raised will be for the purpose of increasing its stake in two existing 1MW biogas plants to 40 per cent each. The remaining 60 per cent is owned by Cenergi SEA, a subsidiary of Khazanah Nasional.
Tata Power Co. Ltd wants to increase the proportion of renewable energy assets in its portfolio to 40%. If it decides to build new solar power plants today, it can expect to spend Rs.6 crore per megawatt (MW). So, at first blush, its deal to buy Welspun Renewables Energy Pvt. Ltd’s 1,140MW portfolio for an enterprise value of Rs.9,249 crore, or Rs.8.1 crore per MW, appears costly.
Foreign firms are continuing to make investments in Vietnam, whether it is direct investment or private equity capital. Canada’s CMX Renewable Energy Inc is planning a $150 million solar power plant in the country, while Mizuho Asia Partners has recently invested $9.3 million in local pie maker Pham Nguyen Confectionery. Pjico, one of the biggest insurers in Vietnam, is seeking to sell a minority stake to a foreign investor.