According to the report, the company is in talks to seal the deal amounting to $1.2 billion and has submitted a non-binding provide (NBO) for ReNew’s photo voltaic and wind energy belongings of 350 megawatts (MW) and 750MW, respectively, at a fairness worth of around $450 million.
ReNew Power, a subsidiary of ReNew Energy Global Plc, is one of the largest renewable energy independent power producers (IPPs) globally. The company currently has an aggregate capacity of 13.2 gigawatt (GW), including capacity already won in competitive bids.
Renewable energy is one of the strongest growth vectors in power and proliferation of electric vehicles in India also presents a huge opportunity
Alongside enforcing states to comply with RPO targets, the power ministry must focus on structural reforms to meaningfully chase the clean power dream
The power producer has access to cheaper capital thanks to the sovereign backing
Generation performance will remain weak and receivables will be delayed, affecting cash flows
Troubles at its gas power plants notwithstanding, Torrent Power persisted with building electricity distribution business, helping it grow earnings
More than a liquidity lifeline is needed now
According to the agency, power demand in April slumped by over one-third of the usual demand during the month as the nationwide lockdown significantly reduced industrial and commercial activity.
State-run Power Grid Corp on May 18 operationalised its ultra-high voltage 1200 kV National Test Station (NTS) at Bina in Madhya Pradesh, which will help increase power carrying capacity
We expect the fiscal incentives provided to the sector to continue to achieve the ambitious RE targets of 175 Gw by 2022.
Coal stocks at thermal stations have hit critical levels as payment disputes escalate, unleashing power cuts that could choke off an economic recovery before it takes hold and hurt Modi's prospects at forthcoming state elections.
CRISIL Infrastructure Advisory has come out with its report on Indian power sector.
Joe Hogan, chief executive officer of ABB Group, in an exclusive interview to CNBC-TV18's Siddharth Zarabi on the Forbes India Show, gives his views on how the India’s infrastructure and power sectors will pan out further and whether the sectors have enough potential to attract foreign companies.
Uncertainty over fuel supplies for thermal power projects as well as poor financial health of distribution utilities are among major risks faced by the fast growing Indian power sector, says global consultancy Deloitte.