India PV News Snippets

• RUMSL has launched a tender to hire consultants for 950 MW solar park in Madhya Pradesh
• Adani Green Energy has closed its acquisition of SB Energy Holdings worth $3.5 billion
• Mercom says auctioned solar capacity by government agencies in Q3/2021 was higher than tendered capacity
• NIIF IFL has committed INR 2 billion senior secured loan facility for Cleantech Solar to be invested on open access projects in India

Consultancy tender for 950 MW PV: Rewa Ultra Mega Solar Limited (RUMSL) has launched a tender with a view to hire the services of a transaction advisory firm to provide services for the development of a 950 MW solar park. The ground mounted facility is proposed to be located at Chhatarpur district in Madhya Pradesh. Request for proposals (RFP) documents can be sourced from the state government's e-procurement website under tender ID 2021_RUMSL_163175_1 and submitted by October 28, 2021.

AGEL acquires SB Energy: Adani Green Energy limited (AGEL) has completed the acquisition of SB Energy Holdings Ltd (SB Energy India) in an all cash transaction deal worth $3.5 billion, calling it the country's largest renewables merger and acquisition (M&A) deal to date. It now increases the company's operational capacity by 46% to 5.4 GW and overall portfolio to 19.8 GW. The decision of this acquisition was first announced in May 2021 (see Adani To Acquire 5 GW India RE Portfolio From SB Energy).

5.8 GW solar tenders in Q3/2021: Government agencies have launched tenders for 5.8 GW solar power capacity in Q3/2021 in calendar year 2021, reflecting a drop of 31% over 8.5 GW tendered in Q2/2021, according to Mercom India Research. In Q3/2020, the agencies launched 5.04 GW tenders in comparison. But a total of 8.9 GW solar capacity was auctioned during the reporting period, increasing from only 465 MW auctioned in Q2/2021. The major auction during Q3/2021 was a 5 GW CPSU Scheme Phase-II auctioned by IREDA (see India PV News Snippets).

Loan for Cleantech Solar: Singapore headquartered Cleantech Solar that operates also in India, has raised a INR 2 billion senior secured loan facility for its open access projects in India. It plans to deploy the facility to refinance its existing loans on operating open access assets in India and optimize its overall capital structure and funding costs for the portfolio. The funds have been approved by NIIF Infrastructure Finance Limited (NIIF IFL), and infrastructure debt fund in India.