ArcelorMittal has entered a bidding war with Shell, Adani Group, Singapore’s Sembcorp Energy, and Canadian pension fund CPPIB to purchase Sprng Energy, Actis’ India subsidiary. This might be the first time in India that a steel company considers such a large green energy purchase. ArcelorMittal, the world’s largest steelmaker, isContinue Reading
According to various sources familiar with the subject, Azure Power, Macquarie, KKR, and ReNew Power are among the firms considering an offer for Actis-owned renewable energy provider Sprng Energy. According to reports, a winning bidder would have to pay at least $1 billion for Actis’s interest in Sprng Energy. Additionally,Continue Reading
Actis intends to divest its Indian renewable energy platform Sprng Energy in 2022. Sprng Energy’s portfolio amounts to 1,741.5 MW of total capacity, including 194 MW of solar parks in operation, as well as 750 MW of solar and 797.5 MW of wind projects that are currently being implemented. SanjivContinue Reading
Shapoorji Pallonji Infrastructure Capital on Sunday said it has completed sale of 194 MW of operating solar portfolio to Sprng Energy, renewable energy arm of investment firm Actis. The transaction closed last week with all customary approvals in place, the company said in a statement. “A year ago, we decidedContinue Reading
The total value of acquisitions in India’s renewable energy sector increased by more than 300 percent to $6 billion in the first ten months of 2021 (till October) from less than $1.5 billion in 2020 as per a study by CEEW Centre for Energy Finance (CEEW-CEF) and the International EnergyContinue Reading
Solar Energy Corporation of India (SECI)latest tender for 2,000-MW of wind energy capacity was undersubscribed by 800 MW. Only 1,200 MW of the capacity has been bid for by four renewable energy companies — Sprng Energy, Alfanar Energy, Adani Green Energy and Renew Power. The lack of the necessary infrastructureContinue Reading
The wind energy auction organized by the state government of Gujarat its power distribution company Gujarat Urja Vikas Nigam Ltd (GUVNL). revealed a tariff of Rs 2.43/kWh as the lowest bid. Earlier this year, the tariff touched a new low of Rs 3.46 in first round of auction for one gigawattContinue Reading
Four companies have won the auction to supply Indian Railways with 1 GW of round-the-clock (RTC) power from grid-connected renewable power projects over a 25-year term. Sprng Energy, NTPC Renewable Energy, Ayana Power, and O2 Power were the winners. The projects will be implemented throughout India. Sprng Energy won 100Continue Reading
