Vietnam solar PV panel production facilities have all been progressively placed into creation. It is normal that the organization's module manufacturing limit will surpass 40 GW by 2021, and its silicon wafer and cell production limit will keep on being kept up at about 80% of its module manufacturing capacity.
FUNDING AND M&A UPDATES Avaada Energy sells 41.6% with $453 million to Thailand’s PPT Group. Global Power Synergy (GPSC), the listed power subsidiary of Thailand’s state-owned PTT Group, has acquired a major stake in Indian renewable energy provider Avaada Energy for $453 million. Avaada Energy has a Solar portfolio of above 3.74 GW. This deal helps the company (GPSC) to expand its renewable energy portfolio. INDIGRID completed the acquisition of FRV I and FRV II – Operating solar projects. India Grid Trust and FRV Solar Holdings (FRV) had entered into a Securities Purchase Agreement for the acquisition of 100% shareholding and management control, in one or more tranches, in FRV Andhra Pradesh Solar Farm-I Private Limited (FRV I) & FRV India Solar Park II – Private Limited (FRV II) and according to Regulation 23(6)(a) of SEBI (Infrastructure Investment Trusts) Regulations, 2014 and other applicable laws and regulations, the India Grid Trust has completed the acquisition of 100% paid-up capital and management control of FRV I & FRV II from FRV on July 13, 2021. Sangam Renewables Divests Its Entire Stake in Its Subsidiary WAACOX Energy to Aditya Birla Renewables. Sangam Renewables had announced the completion of its entire stake sale (51%) in its subsidiary, WAACOX Energy (WEPL) to Aditya Birla Renewables (ABRel), earlier held 49% stake in WEPL, and now shall own 100% stake. The company shall use these proceeds to reduce its short-term debt on a standalone basis. The PPA of these projects in WEPL is held by Mahagenco and Mahadiscom. Azure Power closes $163 million for 300 MW projects in Rajasthan Mitsubishi UFJ Financial Group (MUFG) has closed syndicated financing for a 300 MW project with Azure Power. The solar Pv projects are being developed in Rajasthan. Colin Chen, Head of ESG. Finance for Asia-Pacific, MUFG, said, having played leadership roles in a string of renewable project financings in India, we are even more convinced of the exciting prospects in the country’s renewables sector. We look forward to further harnessing our project financing and ESG expertise to support India’s sustainability aspirations. ACME Signs Another Landmark Investment Deal with UNOPS S3i and IFU for a 250 MW Solar Park in Rajasthan, India. The total value of the project is the equivalent of just under $200 million, of which about a quarter are financed through equity contributions by the three co-investors. The assets are well diversified with a presence across 13 states in India and a Central: State mix of 65:35. The company has an asset base of $2 billion. ACME has brought several innovations and introduced the latest technologies for the best solar plant operations. IFU– the Investment Fund for Developing Countries is a Danish impact investor contributing to green, just and inclusive societies as well as supporting the Sustainable Development Goals. IFU provides risk capital to companies operating in developing countries across Africa, Asia, Latin America, and parts of Europe. Investments are made on commercial terms in the form of equity, loans, and guarantees. This partnership is a key milestone towards ACME’s vision for developing a portfolio of 25 GW of Renewable Energy projects which comes in line with India’s plans to achieve 450 GW of RE Power by 2030.” said Manoj Upadhyay, Founder, and Chairman, ACME Group. AGEL Arm Transfers 74 % Stake of MSEL to Adani Tradecom LLP Adani Renewable Energy Holding Four Ltd, a wholly-owned subsidiary of Adani Green Energy Ltd (AGEL), has transferred 74% shareholding of Mundra Solar Energy Ltd (MSEL) to Adani Tradecom LLP (ATLLP) on May 21, 2021. The MSEL is a step-down subsidiary of the company and the same has been transferred to ATLLP, which is a wholly-owned LLP of Adani Enterprises Limited, an entity falling under a joint control (Adani Group). The MSEL is incorporated to manufacture crystalline silicon solar PV cells, modules, and ancillary operations, which is in a similar line of business undertaken by Adani Enterprise Limited through its subsidiary namely, Mundra Solar PV Limited.
Adani Green to Buy SB Energy’s 5 GW Renewable Portfolio for $3.5 Billion. Adani Green Energy Limited (AGEL), signed definitive agreements for the acquisition of 100% interest in SB Energy India on May 19, 2021. the transaction is for a fully completed enterprise valuation of approximately $3.5 billion (Rs. 26,000 Cr). This transaction marks the largest acquisition in the RE sector in India. The total renewable portfolio of SB Energy India is about 4,954 MW spread across four states of the country. The target portfolio comprises large-scale utility assets with 84% solar capacity (4,180 MW), 9% wind-solar hybrid capacity (450 MW), and 7% wind capacity (324 MW). The portfolio contains a total of 1,400 MW operational solar power capacity. Further, 3,554 MW of solar power capacity is under construction. These projects have a 25-year power purchase agreement (PPA) with sovereign-rated counterparties such as Solar Energy Corporation of India, NTPC Limited, and NHPC Limited. Solar Park-based projects form a primary part of the operating assets of the portfolio.
www.EQMagPro.com
EQ
iSearch June-2021
33
