Singapore, Sembcorp Industries, Sembcorp Green Infra, IDFC Singapore-based Sembcorp Industries said on Thursday that it is acquiring IDFC’s remaining stake in Sembcorp Green Infra for Rs 1,410.2 crore. (Image: IE)

Singapore-based Sembcorp Industries said on Thursday that it is acquiring IDFC’s remaining stake in Sembcorp Green Infra for Rs 1,410.2 crore. Sembcorp Green Infra has 1,200 MW of operational and under-development solar and wind power assets in seven states across India. The acquisition will be funded through a mix of internal funds and borrowings, the company said. Sembcorp Green Infra was incubated by IDFC private equity funds in 2008 as India’s first private equity owned renewable energy platform. IDFC had sold a controlling stake in Green Infra to Sembcorp in 2015. Sembcorp Green Infra was one of the four companies to win a 250 MW wind energy project in the country’s maiden tariff-based competitive bidding (TBCB) for wind energy, where tariffs fell to as low as R3.46/unit.

Neil McGregor, group president and CEO of Sembcorp Industries said that the acquisition “reaffirms Sembcorp’s commitment to a long-term presence in India.” With the target to set up 175 GW of renewable energy capacity by 2022, the country has become an attractive destination for foreign investors. Energy research firm Bridge to India recently noted that the country with the combined issuance of about $4 billion, the country is among the top ten green bond markets in the world. However, after low price discoveries under TBCB route, there were a few instances where state-discoms displayed reluctance in buying wind power at higher prices set under the cost-based feed-in tariff system.

This daunted investors in the sector and the Indian Bank’s Association even wrote to the power ministry about the issue. The ministry of new and renewable energy has asked state energy secretaries to make sure their respective electricity regulators approve power purchase by discoms from wind energy projects and honour power purchase agreement terms. French energy giant, which operates in India through its subsidiary Solairedirect, told FE that “till the time enabling factors like regulations for connectivity to the grid and other issues like PPA negotiations etc are tackled, there could be reluctance from investors to invest more in this sector.”

The company has always been cautious with regards to the choice of project and off-taker, and it intends to “continue in this vein taking account of the actual behavior such off-takers.” Solairedirect had won the contract to develop a 250 MW solar project in Andhra Pradesh for a final levelised tariff of Rs 3.15/unit.

Read more: Sembcorp buys remaining stake in green arm for...

royal dutch shell, shell company, shell petrol pump, india petrol pumps, indian shell company, shell companies in india Shell already owns majority stake in the 5 million tons a year liquefied natural gas (LNG) import terminal at Hazira in Gujarat. (PTI)

Royal Dutch Shell today said it plans to scale up number of petrol pumps in the country to 1,500 in next 10 years as the company looks to expand in world’s third largest oil consuming nation. “We have a plan to get up to 1,500 retail stations…We have identified when we want to expand and how we want to expand,” Shell India chairman Nitin Prasad told reporters here. The company owns 85 out of the country’s 59,595 petrol pumps. When asked about the time-frame for setting up the 1,500 petrol pumps, Prasad said, “We have a target timeline of let’s say about 10 years that we want to see stations all up. It will happen in a phased manner.” Shell is the only foreign player in the fuel retailing business dominated by public sector firms in the country. Reliance Industries owns 1,400 outlets and Essar Oil, now acquired by Rosneft of Russia, has 3,499 pumps.

On being asked whether the company identified the areas where it wants to expand, he said, “…a couple of more areas we are really focused on. Given that its very consumer oriented demand one is retail, lubricants. We are taking a look at those two areas.” “We are also taking very big look at renewable energy in terms of winds, solar, bio fuels…We are taking a look at all these different areas,” he said. Shell, he said, is also keen on gas marketing in India.

“Gas being a very cleaner burning fuel we are taking a look at how we can take a look at gas into downstream market. How does gas begin to replace diesel gen sets in industrial sectors. How does LNG in transportation comes into place. LNG in marine. So that’s another area we are taking a look at,” he said. Shell already owns majority stake in the 5 million tons a year liquefied natural gas (LNG) import terminal at Hazira in Gujarat.

Read more: Royal Dutch Shell eyes 1,500 petrol pumps in 10...

ABB India, Indian Railways, solar inverters, railway stations, traditional sources of energy, BSE filing, solar inverter manufacturing, manufacturing facility ABB India will provide solar inverters to 750 railway stations in north India in a bid to reduce dependence on traditional sources of energy. (Image: Reuters)

ABB India will provide solar inverters to 750 railway stations in north India in a bid to reduce dependence on traditional sources of energy. Indian Railways, which runs one of the largest railway networks in the world, carries more than 8 billion passengers annually, the company said in a BSE filing. The 750 stations are located in the busy northern Indian part of the network, one of the most used railway corridors in the world. ABB recently reached a milestone of 5 GW of solar inverters installed, supplying some 40 percent of India’s solar power at approximately 13 GW. “ABB solar inverters for this project vary between 5kw to 50kw in performance depending on the size of the station…,” the statement said. They will be part of the solar installations being set up by Azure Power. ABB set up its solar inverter manufacturing facility in India in 2012 and contributes to approximately 40 percent of the country’s solar installations.

ABB solar inverters have been widely used in the transportation sector, deployed, for instance, in the world’s first fully solar powered airport in Kochi. “Azure Power has superior rooftop solar power solutions for infrastructure, commercial and industrial customers in cities across India to lower their energy costs and meet their greenhouse gas (GHG) emission reduction targets. “We are pleased to partner with ABB and Indian Railways in reducing GHG emissions through deployment of solar energy at railway stations across India,” Azure Power Chairman and CEO Inderpreet S Wadhwa said.

Read more: Indian Railways: ABB India to provide solar...

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