India PV News Snippets: Greenko, EMITS, Sangam, BHEL

Orix Corporation Acquires 21.8% Stake In Greenko; Fourth Energy Partner Launches Joint Venture With Indika Energy; Waaree Energies Subsidiary Energizes 16 MW Project; 100 MW AC BOS Tender By BHEL
11:11 PM (Beijing Time) - 08. March 2021

Having joined hands with Indika Energy for Indonesian distributed solar generation market, Fourth Partner Energy plans to expand to several more countries in Southeast Asia. (Photo Credit: Panumas Yanuthai/

Key Takeaways

  • Orix Corporation has acquired 21.8% stake in Greenko for a total consideration of $961 million
  • Fourth Partner Energy has joined hands with Indika Energy to launch Indonesia focused joint venture
  • Sangam Renewables has commissioned 16 MW solar project for MAHAGENCO in Maharashtra
  • BHEL has launched a tender for BOS package for 100 MW AC solar power plant in Raghanesda Ultra Mega Solar Park

Orix picks up stake in Greenko: Japan’s Orix Corporation has completed the process of acquiring a 21.8% stake in Indian renewable energy company Greenko for $961 million. It has integrated its entire wind power generation business in India into Greenko in exchange for new additional shares of Greenko. The latter has a 6.9 GW of operational renewable energy generation portfolio, comprising wind, solar and hydro. Another 8 GW capacity is either under construction or in development. For Orix, its global renewable energy portfolio comprises total installed capacity of close to 3.3 GW including solar, wind, hydro, geothermal and other resources. The Japanese company says it plans to further expand its renewable energy business within Japan and across the globe.

Indian company expands to Indonesia: Distributed solar energy platform in India Fourth Partner Energy is expanding its reach to the Indonesian market after announcing a partnership with Indonesia based Indika Energy. Together they have launched a joint venture company called Empat Mitra Indika Tenaga Surya (EMITS) to offer integrated solar, battery storage and electric vehicle (EV) space. It will be owned by Indika Energy and Fourth Partner in 51:49 ratio, respectively. The Indian company said it plans to expand its international presence in Sri Lanka, Bangladesh, Vietnam, Myanmar, and Singapore as well.

16 MW solar project energized in Maharashtra: A subsidiary of Waaree Energies, Sangam Renewables has commissioned a 16 MW ground mounted solar project in Gavhankund, Maharashtra under the agri feeder scheme of the state government. Sangam Renewables’ material subsidiary Waacox Energy Private Limited has commissioned the project for MAHAGENCO, it stated in a stock exchange filing.

BHEL’s BOS tender for 100 MW solar: Bharat Heavy Electrical Ltd. (BHEL) has invited quotations for the supply of balance of system (BOS) package for 100 MW AC GSECL-Raghanesda 2 Solar Power Project. BHEL is setting up the 100 MW AC project at Raghanesda Ultra Mega Solar Park in Banaskantha district of Gujarat through its Solar Business Division (SBD). Bids will be accepted till March 10, 2021. Tender details are available on Government of India’s website with RFQ No. TGPBOS0056.

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani