Engie’s move comes at a time when financing at the lowest cost has become key to success, given the record low tariffs in India.
Greenko is interested in Equis’s hydropower portfolio, given its ambitions around the space.
The idea is to create a special purpose vehicle (SPV) to specifically finance solar projects
NIIF is a vehicle for funding commercially viable greenfield, brownfield and stalled projects in the infrastructure sector.
Abu Dhabi National Oil Co (Adnoc), the state-run oil company of the United Arab Emirates (UAE), may pick up a 25% stake in the largest global refinery
This comes against the backdrop of growing interest from sovereign wealth funds to invest in India.
This comes soon after Greenko agreed to buy Orange Renewable from Singapore’s AT Capital Group at an enterprise value of $1 billion.
Greenko, which is also backed by Abu Dhabi Investment Authority, will make an equity payout of around $300 million.
Q & A
In India’s largest clean energy deal, ReNew Power Ventures acquired Ostro from Actis in a deal valued at $1.5 billion.
These firms have been attracted by Latin America’s biggest utility’s six subsidiaries that are up for sale.
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