Australia’s Macquarie Asset Management has called off plans to sell renewable energy platform Vibrant Energy due to a valuation mismatch in negotiations, said people aware of the development. Vibrant, a portfolio company of Macquarie’s Green Investment, is currently operating and delivering 1.9 GW of renewable energy solutions to corporate clients across India. It has an […]
Day: April 27, 2024
Statkraft India head Rahul Varshney quits
Rahul Varshney has quit Europe’s largest renewable power generator Statkraft after helming its Indian operations for 15 years, according to people aware of the development. Varshney could possibly set up his own venture in the energy transition segment, they said. Statkraft, which is owned by Norway’s government, has been operating in India for more than […]
REC Ltd secures Japanese green loan of Rs 3,200 crore
REC Ltd on Thursday said it has secured a green loan for JPY 60.536 billion (about Rs 3,200 crore) to finance eligible clean energy projects. The green facility benefits from an 80% guarantee by Italian export credit agency, SACE (Italy). In January, the company had issued its first yen-denominated 61.1 billion green bonds under its […]
Adani Green Energy seeks $400 million loan for capex push
Adani Green Energy, which is looking to develop a 25 gigawatt portfolio by 2025, is in advanced talks with Rabobank, MUFG, SMBC and DBS for a $400 million loan, according to people familiar with the development. The loan is likely to be priced at a secured overnight financing rate (SOFR) plus 250 basis points with […]
Use of renewable energy could revolutionise agriculture in Hindu Kush Himalayas: experts
Harnessing renewable energy could revolutionise food security in the mountainous region of the Hindu Kush Himalayas, experts, including from India, said here on Tuesday. The remarks were made at a regional conference titled “Advancing Productive Uses of Renewable Energy in Agriculture in the Hindu Kush Himalayas” and hosted by the International Centre for Integrated Mountain […]
OPEC is causing market volatility, says Hardeep Puri
The current market volatility is being caused by the OPEC producer group rather than the conflict in the Middle East, said Union Minister of Petroleum & Natural Gas Hardeep Singh Puri on Friday, reported ET Now. Puri said that oil producers are cutting down and holding back production.
India receives oil cargo in Russian SCF tanker after brief halt, sources say
A ship controlled by U.S.-sanctioned Russian shipping giant Sovcomflot (SCF) discharged fuel oil at a western Indian port on Friday, two sources familiar with the matter said, indicating a resumption in the use of SCF vessels to supply Moscow’s key market after a brief halt. The SCF Baltica, carrying 90,000 metric tons of fuel oil […]
Oil PSUs’ output from overseas fields up a tad
India’s state-run firms’ output from overseas oil and gas fields marginally rose in 2023-24 after declining for four straight years. The output, however, remained a fifth below the peak of 2018-19 as producing fields matured and no new overseas assets were acquired in recent years. The share of India’s state companies in oil and gas […]
Adani arm completes 49% acquisition in Adani Esyasoft Smart Solutions
Adani Enterprises’ arm Adani Global Limited on Friday announced that it had completed the acquisition of a 49% stake in Adani Esyasoft Smart Solutions. The conglomerate’s intimation comes in connection with an ealier announcement, on April 12, when the deal was executed.
IndiGo’s move to acquire wide-body planes augurs well for Indian aviation: Crisil
IndiGo’s move to acquire wide-body planes augurs well for Indian aviation. Long-haul international routes tend to be more profitable, and this decision could also contribute to establishing India as an aviation hub, as per rating agency CRISIL. Until January of the previous year, IndiGo solely operated a fleet of single-aisle Airbus aircraft. However, in February […]
Indian and Russian firms secure management contract for Sri Lanka’s Mattala International Airport
The management rights for Sri Lanka’s Mattala Rajapaksa International Airport in Hambantota have been awarded to a joint venture between an Indian and a Russian firm, the government spokesman stated on Friday. The $209 million facility was once called the “world’s emptiest airport” because it lacked sufficient flights and passenger traffic. Partnership secures management rights […]
Noida International Airport completes vital DME and DVOR air calibration, sets stage for aviation growth
The Noida International Airport on Thursday announced the completion of air calibration for the DVOR and DME systems. These systems are crucial components aiding navigation, landing, and aircraft departure. Last week, calibration commenced with the inaugural flight of the Beechcraft King Air B300, a twin-engine turboprop aircraft, at the greenfield airport in Jewar, approximately 75 […]