India's Infrastructure Leasing & Financial Services Ltd (IL&FS) said on Wednesday that it has launched a process to assess the interest of third parties in the company’s renewable energy businesses.

"As stated in the said report, it is the objective of the Board to achieve, by one or more plan(s), the resolution of the IL&FS group through certain measures, including asset divestment," the statement said.

 

The stake sale may be executed as a basket, or individually, or in any combination thereof, the company said in a statement.


IL&FS is looking to sell controlling stakes in an 873.5-MW operating wind park portfolio and 104 MW of under-construction wind farms as well as businesses that offer asset management and project development services. Also, it seeks to sell stakes in the business engaged in the development of solar projects, including 300 MW of photovoltaic solar projects.


It has hired Arpwood Capital Pvt Ltd and JM Financial Ltd as financial and transaction advisors, while Alvarez & Marsal will act as resolution consultants.

Private equity firm Actis LLP has reached an agreement to acquire the solar power portfolio of Indian company Essel Infraprojects Ltd, which includes 685 MW of installed capacity and under-construction projects, Mint has reported.


The deal may be formally announced by December-end, the report said.


Earlier this year, Essel Infra, part of media mogul Subhash Chandra’s Essel Group, had put its solar assets on sale and since then it has been negotiating with potential buyers.


Essel has a total portfolio of 23 projects, under various stages of development, with nearly 310 MW of operational solar power facilities, which it had bid for under the National Solar Mission and state government auctions, and another 375 MW capacity under construction.


The newspaper quoted two sources as saying that Actis has agreed to pay between INR 5500 cr (USD 788m/EUR 692m) and INR 60 cr for the solar assets. One of them has told Mint that a formal deal will be announced by the end of December.


The assets that are being sold have power purchase agreements (PPAs) with tariffs as high as INR 8 per kWh, while the average amounts to INR 5.50/kWh, according to one of the people.

Entailing conversion of fixed line reactors to switchable line reactors with the purpose of curtailing outages, this extra high-voltage substation project will go a long way in strengthening northern grid

The project, which will cater to a population of 7 crore spread over UP, Haryana and Rajasthan, is scheduled for completion by February 2020

Read more: HARTEK Bags 400-KV Power Grid Order

NTPC Group crosses 5 Trillion Units Generation Mark

01st Dec, 2018

NTPC Group has generated 5 Trillion Units of electricity on 30th November 2018 from its power stations spread across the country since inception.

NTPC with an installed capacity of 52,946 MW has 20 coal based, 7 gas based, 11 solar PV, 1 hydro, 1 small hydro, 1 wind and 9 subsidiaries / joint venture power stations. The company has projects of over 20,000 MW under construction at multiple locations in the country

NTPC has been ranked No.1 Independent Power Producer and Trader Globally in the Platts Global Company rankings 2018.The company has the vision to be the World’s Leading Power Company, Energizing India’s Growth.


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Read more: NTPC Group crosses 5 Trillion Units Generation...

PROINSO, a global leader in the solar energy market, has partnered with Inspire Clean Energy to offer its project clients one year of free access to the market-leading solar PV plant monitoring software. This offer is exclusive to PROINSO's customers in India and can help save up to $500 per project.

Read more: PROINSO Looks To Increase Profitability Of PV...

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