- Adani Green Energy claims to have all of its renewable energy pipeline fully funded after raising $750 million
- India and UK have launched Climate Finance Leadership Initiative India to mobilize private capital into India’s low-carbon energy transition
- Tata Power has announced receiving LOA from RUMSL for a 330 MW solar project it won recently in Madhya Pradesh
- BHEL has launched a tender seeking O&M services for SCCL’s 30 MW AC solar power facility in Telangana
Adani Green raises $750 million: Adani Green Energy Limited (AGEL) claims to have its pipeline fully funded after it raised $750 million through a 3-year issuance of green bond which it said was oversubscribed by more than 4.7x. It plans to deploy proceeds towards equity funding of the capex for underlying renewable energy projects under construction.
India & UK launch CFLI India partnership: During the 11th UK-India Economic and Financial Dialogue (EFD) held on September 2, 2021, the UK and India governments launched the Climate Finance Leadership Initiative (CFLI) India partnership. It will mobilize private capital into India with a focus on sustainable infrastructure projects in specific low-carbon sectors to support India’s ambition to meet its nationally determined contribution (NDC). “Through this collaboration, CFLI India seeks to reinforce international investor confidence in India’s low carbon transition, opening access to rapidly growing offshore pools of sustainable capital,” read a joint statement. CFLI will be co-chaired by the CEO of Macquarie Group Shemara Wikranamayake and Tata Group Chairman Nararajan Chandrasekaran, and supported by Bloomberg, the Global Infrastructure Facility, UK & India governments and City of London Corporation.
LOA for 330 MW PV for Tata Power: Tata Power has secured letter of award (LOA) from Rewa Ultra Mega Solar Limited (RUMSL) to build 330 MW solar power capacity at Neemuch Solar Park in Madhya Pradesh. It will be established as 2 units of 160 MW and 170 MW. Power generated by this capacity will be purchased by the Indian Railways and Madhya Pradesh Power Management Company Limited (MPPMCL) for 25 years. Tata Power said it aims to commission the capacity within 19 months from the date of execution of the power purchase agreement (PPA). With this win, the company’s total renewable energy capacity has reached 4.361 GW, comprising 2.947 GW installed and 1.414 GW under implementation.
O&M tender by BHEL: Bharat Heavy Electricals Limited (BHEL) has launched a tender seeking operation and maintenance (O&M) services for a 30 MW solar power plant in Manuguru, Telangana. O&M services need to be ensured for 114 months or close to 10 years. Last date to submit bids is September 17, 2021, according to tender announcement. Project is owned by Singareni Collieries Company Limited (SCCL) and is part of 129 MW capacity it awarded BHEL as EPC contractor, back in January 2019 (see BHEL Wins 129 MW PV Contract).