Delhi Metro Floats Tender for 5 MW Rooftop Solar Projects

Daily News Wrap-Up: Bihar Announces Winners of 500 MWh BESS Auction

Global Offshore Wind Capacity Additions Fell 26% in 2024 to 8 GW: GWEC

Hartek Bags ₹1.38 Billion Substation Contract from PGCIL in Karnataka

Jharkhand Commission Issues Draft Regulations to Determine Solar Tariffs

Senate Passes Budget Bill Without Excise Tax on Wind and Solar Projects

Prostarm, Hindustan Power, Barbrik Among Winners in Bihar’s 500 MWh BESS Auction

SJVN Tenders 1 MW Rooftop Solar Project in Arunachal Pradesh

SJVN Green Floats EPC Tender for 951 MW Solar Projects in Maharashtra

Daily News Wrap-Up: CERC Eases Land Documentation Norms for ISTS Connectivity

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					</table>The Central Electricity Regulatory Commission (APERC) <a href="https://www.mercomindia.com/cerc-allows-project-spvs-to-submit-land-documents-for-ists-connectivity" target="_blank" rel="noopener">permitted</a> special purpose vehicles (SPVs) or subsidiaries of renewable energy companies to submit land and financial closure documents in place of their parent companies for the grant of connectivity and general network access. The decision will be effective until the third amendment to the Connectivity and General Network Access to ISTS Regulations, 2022, is formally notified. The petitions were filed by Oyster Renewable Energy and Avaada Energy, along with their SPVs, Oyster Green Hybrid One and Avaada MPSustainable2, respectively, for approval of their land documents.
The Andhra Pradesh Electricity Regulatory Commission (APERC) <a href="https://www.mercomindia.com/andhra-pradesh-commission-releases-draft-bess-regulations" target="_blank" rel="noopener">issued</a> the draft “Planning, Procurement, Deployment, and Utilisation of Battery Energy Storage Systems (BESS)” Regulations, 2025. Stakeholders must submit their comments before July 21, 2025. The regulations aim to enable the deployment and utilization of BESS as part of generation, transmission, and distribution assets. They also promote cost-effective energy storage solutions that support grid stability, frequency management, and renewable energy integration.
The Ministry of Railways <a href="https://www.mercomindia.com/railways-issues-empanelment-tender-for-1-mw-rooftop-projects-in-bihar" target="_blank" rel="noopener">issued</a> a request for qualification to empanel agencies to implement 1 MW rooftop solar projects for Bihar’s Samastipur Division under the East Central Railways. Bids must be submitted by July 21, 2025. Bids will be opened on the same date. The scope of work entails the design, constructing, financing, and transfer of rooftop solar projects at select railway locations. It also includes the supply of electricity to the railways under a long-term fixed-rate power purchase agreement.
The Ministry of Renewable Energy <a href="https://www.mercomindia.com/solar-module-manufacturing-capacity-under-almm-grows-to-91-5-gw" target="_blank" rel="noopener">expanded</a> the Approved List of Models and Manufacturers (ALMM) by adding 742 MW of solar module manufacturing capacity. The cumulative solar module manufacturing capacity under ALMM has now reached 91,458 MW after the latest additions. Nithin Sai Renewables (473 MW) and Worldone Energies (164 MW) are the new entries to the list, adding a cumulative 637 MW. Orb Energy and Swelect HHV Solar increased their capacities by 1 MW and 104 MW, respectively. Jakson Engineers, Pahal Solar, and TP Solar reduced their manufacturing capacities. Jakson’s revised capacity is 1,124 MW, Pahal’s is 264 MW, and TP Solar’s is 187 MW.
In its fifth edition, the Mercom India Renewables Summit will <a href="https://www.mercomindia.com/mercom-renewable-energy-expo" target="_blank" rel="noopener">feature</a> a dedicated renewable energy exhibition for the first time, showcasing the most advanced solutions and services in the clean energy sector. The exhibition will be held on July 24 and 25, 2025, at the Regency Ballroom in the Hyatt Regency, New Delhi, in conjunction with the main sessions of the Summit. The two-day exhibition provides a unique opportunity for attendees to engage directly with over fifty leading renewable energy companies shaping India’s energy transition. The Expo is designed to foster meaningful interactions among top manufacturers, service providers, technology innovators, and key players from across the clean energy value chain.
Electric vehicle sales in India <a href="https://www.mercomindia.com/electric-vehicle-sales-clock-34-yoy-growth-in-q2-2025" target="_blank" rel="noopener">reached</a> 530,386 units in the second quarter (Q2) of 2025, an over 34% year-over-year (YoY) increase from 396,719 units. EVs accounted for 8% of the overall automobile sales, which totaled 6,554,775 units in Q2 2025, according to data released by the Ministry of Road Transport and Highways through its Vahan Dashboard. India now has over 6.44 million registered EVs. Electric two-wheelers comprised nearly 56% (298,690) of the total EVs sold during the quarter. TVS led the segment with sales of 69,997 units, followed by Bajaj Auto with 64,099 units. Ola (58,534), Ather (40,864), and Hero Motocorp (20,997) were among the other companies that registered significant sales.
Government-owned lender Indian Renewable Energy Development Agency’s loan approvals <a href="https://www.mercomindia.com/ireda-loan-approvals-grow-q1-fy-2026" target="_blank" rel="noopener">climbed</a> by 29% YoY to ₹117.4 billion (~$1.37 billion) in Q1 of the financial year 2025-26, compared to ₹91.36 billion (~$1.06 billion). Loan disbursements rose by 31% YoY to ₹69.81 billion (~$815.52 million), up from ₹53.26 billion (~$622.18 million). The company’s outstanding loan book also registered a strong growth, reaching ₹799.6 billion (~$9.34 billion) as of June 30, 2025, reflecting a 27% YoY increase over ₹632.07 billion (~$7.38 billion).
Distribution companies <a href="https://www.mercomindia.com/discoms-owed-power-generators-581-billion-june-2025" target="_blank" rel="noopener">owed</a> power generators ₹581.33 billion (~$6.78 billion) in total dues for the monthly billing cycle in June 2025, according to the Ministry of Power’s payment ratification and analysis portal PRAAPTI. The outstanding dues, excluding the latest monthly dues of ₹365.32 billion (~$4.26 billion), amount to ₹216 billion (~$2.52 billion). The overdue amount before the trigger date is ₹215.95 billion (~$2.52 billion); after this date, the amount will increase by ₹57.69 million (~$673,684) due to the late payment surcharge. The trigger date is one month after the payment due date or two and a half months after the generating company presents the bill, whichever is later.
Japan-based financial services group ORIX Corporation <a href="https://www.mercomindia.com/orix-to-sell-17-5-stake-in-greenko-to-am-green-for-1-28-billion" target="_blank" rel="noopener">announced</a> it will re-enter a share transfer agreement to divest part of its holdings in Hyderabad-based renewable energy company Greenko Energy Holdings to AM Green Power. The transaction involves selling 17.5% of its 20% stake in Greenko to Netherlands-based AM Green Power.  Following the transaction, ORIX’s shareholding in Greenko will stand at 2.5%. The transfer of the shares is priced at approximately $1.28 billion. Regulatory approvals, including those under the Indian Competition Act, have already been secured, and the transaction is scheduled to be completed by the end of July 2025.

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					</table>Japan-based financial services group <a href="https://www.orix.co.jp/grp/en/" target="_blank" rel="noopener">ORIX Corporation</a> has announced it will reenter a share transfer agreement to divest part of its holdings in Hyderabad-based renewable energy company <a href="https://www.greenkogroup.com/" target="_blank" rel="noopener">Greenko Energy Holdings</a> to AM Green Power.
The transaction involves selling 17.5% of its 20% stake in Greenko to Netherlands-based AM Green Power.  Following the transaction, ORIX’s shareholding in Greenko will stand at 2.5%.
The transfer of the shares is priced at approximately $1.28 billion. Regulatory approvals, including those under the Indian Competition Act, have already been secured, and the transaction is scheduled to be completed by the end of July 2025.
In addition to the share transfer, ORIX has agreed to invest in a convertible note issued by AM Green (Luxembourg). The total underwriting amount of the convertible note is approximately $731 million.
The agreement for both the share transfer and the convertible note investment was signed recently, with execution scheduled for July 2025.
According to ORIX’s estimation, the transaction is expected to generate a gain of approximately ¥93.4 (~$646.8 million), which includes a valuation gain on the remaining 2.5% stake. However, ORIX has not revised its consolidated financial forecast for the fiscal year ending March 31, 2026, and will continue to monitor developments to determine if adjustments are required.
Greenko Energy Holdings operates renewable energy generation facilities with a total installed capacity of 7.3 GW across solar, wind, and hydroelectric segments in India. It is also developing large-scale pumped storage power projects.
AM Green Power focuses on decarbonization and green solutions, with ongoing projects in green hydrogen and green ammonia production, as well as the manufacturing of water electrolysis equipment necessary for green hydrogen production.
The company plans to produce 5 million tons per annum (MTPA) of green ammonia, with a 1 MTPA project under construction in Kakinada, Andhra Pradesh, and scheduled for commissioning in the second half of 2026.
Last year, AM Green <a href="https://www.mercomindia.com/greenko-green-ammonia-yara" target="_blank" rel="noopener">signed</a> binding term sheets with European company Yara Clean Ammonia for the supply of green ammonia.
In 2021, ORIX had <a href="https://www.mercomindia.com/orix-acquisition-renewable-energy-developer-greenko" target="_blank" rel="noopener">acquired</a> a 21.8% stake in Greenko Energy Holdings.

ORIX to Sell 17.5% Stake in Greenko to AM Green for $1.28 Billion

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					</table>Renewable energy company <a href="https://greenkogroup.com/" target="_blank" rel="noopener">Greenko Group</a> announced the signing of definitive agreements for a primary equity raising of US$ 700 million from affiliates of Singapore’s sovereign wealth fund <a href="https://www.gic.com.sg/" target="_blank" rel="noopener">GIC</a>, <a href="https://www.orix.co.jp/grp/en/" target="_blank" rel="noopener">ORIX Corporation</a>, and a wholly owned subsidiary of the <a href="https://www.adia.ae/" target="_blank" rel="noopener">Abu Dhabi Investment Authority</a>.
Greenko said that it would use the funds raised to accelerate its decarbonization efforts through the supply of carbon-free energy.
The company will use the $700 million investment towards the capital expenditure of pumped storage projects which will have a storage capacity of more than 25 GWh, enabling 45 billion units of dispatchable carbon-free energy.
Through its pumped storage projects, Greenko aims to deliver the lowest cost energy storage at scale targeting approximately 50 GWh by 2025.
CEO and Managing Director at Greenko Anil Kumar Chalamalasetty said, “Carbon-free energy is helping accelerate industrial decarbonization, enhancing the green quotient of the Indian grid and developing of green molecules and chemicals at a competitive cost. This equity commitment from the existing shareholders reinforces their trust in our vision. Greenko is leading India’s energy transition through the implementation of large-scale and long-term solutions, and it continues to deliver long-term value to all our stakeholders.”
Chief Investment Officer of Infrastructure at GIC Ang Eng Seng said, “Cost-effective long-duration energy storage is key to unlocking widespread adoption of renewable energy, accelerating India’s energy transition plans, and spurring the global transition to a net-zero economy. Greenko is uniquely positioned as the leading market provider of long-duration energy projects through its pumped storage projects.”
In January this year, Greenko <a href="https://mercomindia.com/greenko-%e2%82%b9100-billion-pumped-hydro-storage-madhya-pradesh/" target="_blank" rel="noopener">announced</a> an investment of ₹100 billion (~$1.2 billion) in setting up a pumped storage project in the Neemuch district of Madhya Pradesh. The daily storage capacity of the project would be 11 GWh, the company said.
Last month, Greenko ZeroC, the green molecule production arm of the Greenko group, and Uniper, a Germany-based energy company <a href="https://mercomindia.com/greenko-export-green-ammonia-uniper/" target="_blank" rel="noopener">started</a> negotiations for the offtake of 250,000 tons per annum of green ammonia to the European Union.

Greenko Raises $700 Million from GIC, Orix for Pumped Storage Projects

Japan-based financial services group Orix Corporation has announced that it has completed its acquisition of 21.8% stake in Indian renewable energy developer Greenko Energy Holdings.
In September 2020, Orix had <a href="https://mercomindia.com/orix-acquire-stake-greenko/" target="_blank" rel="noopener">announced</a> that it had signed a framework agreement with Greenko Energy Holdings to acquire approximately 20% of its shares.
Orix had said that it would acquire over 20% of Greenko’s shares at a total value of around $980 million (~₹ 72.07 billion). Accordingly, it announced that it had acquired approximately 21.8% in Greenko for $961 million (₹70.34 billion).
As part of the agreement, the company would also add 873 MW of its wind energy portfolio in India into Greenko’s portfolio in exchange for the shares. Orix has also integrated its entire wind power generation business in India into Greenko in exchange for new additional shares of Greenko.
Greenko manages renewable power generation facilities with a total capacity of 6.9 GW in operation, including solar, wind, and hydro, and has an additional capacity of more than 8 GW either under construction or in development.
Greenko has long-term power purchase agreements averaging over 20 years with India’s government-run agencies, state-owned power companies, and other entities, providing a stable income base while achieving further growth to meet India’s long-term goals of achieving energy sustainability and independence.
In August 2020, NTPC Limited <a href="https://mercomindia.com/greenko-ntpc-team-up/" target="_blank" rel="noopener">announced</a> that its wholly-owned subsidiary NTPC Vidhyut Vihar Nigam Limited (NVVN) signed a Memorandum of Understanding with Greenko Energies Private Limited to explore opportunities to supply round-the-clock renewable energy.
In 2019, Orix had <a href="https://mercomindia.com/ilfs-sells-wind-subsidiaries-orix-japan/" target="_blank" rel="noopener">announced</a> that it would acquire a 51% stake in seven wind power generating subsidiaries which it jointly owns with Infrastructure Leasing &amp; Financial Services Wind Energy Ltd (IWEL).
IWEL is the wholly-owned subsidiary of IL&amp;FS Energy Development Company Limited, which, in turn, is a subsidiary of Infrastructure Leasing &amp; Financial Services Limited (IL&amp;FS), Telangana-based infrastructure development and investment company in which Orix has a significant share.

Orix Completes Acquisition of 21.8% Stake in Renewable Energy Developer Greenko

From: <a href="https://mercomcapital.com/funding-and-ma-roundup-orix-elawan/" target="_blank" rel="noopener">Mercom Capital Group</a>
7C Solarparken, a solar project developer, has <a href="http://www.solarparken.com/pressemitteilungen.php" target="_blank" rel="noopener noreferrer">reached</a> an agreement with the German wind power operator EnerVest AG to purchase EnerVest Belgium, a company focused on project development and asset management of PV systems.
Global Infrastructure Partners (GIP), an independent infrastructure investor, <a href="https://www.prnewswire.com/in/news-releases/global-infrastructure-partners-announces-acquisition-of-map-r-energy-s-renewable-energy-business-846333379.html" target="_blank" rel="noopener noreferrer">announced</a> the acquisition of MAP RE/ES, the renewable energy business of MAP Energy. GIP&#8217;s fourth flagship fund, GIP IV, will acquire 100% of the MAP RE/ES investment platform, team, and renewable energy assets under management from MAP, a private fund manager, and energy investor. The assets include a portfolio of producing royalty interests across more than 16,000 MW of operating wind and solar projects in the U.S., as well as a nationwide development pipeline managed through joint ventures with leading national and regional development partners. The MAP RE/ES business will continue to be led by its existing investment team.
ORIX Corporation, a Japan-based financial services group, through its wholly-owned subsidiary ORIX Corporation Europe, has <a href="https://tinyurl.com/mercomorxc" target="_blank" rel="noopener noreferrer">entered</a> into an agreement to acquire an 80% stake in Elawan Energy, a renewable energy company focused on the development and ownership of wind and solar PV projects, for about $965 million. The transaction is expected to close in the second quarter of 2021, subject to regulatory approvals and satisfaction of customary closing conditions. ORIX and Elawan will bring together the track record and expertise to develop, own, and operate renewable energy assets, complementing geographically to develop a global renewable energy business.
<a href="http://www.sunpinsolar.us/" target="_blank" rel="noopener noreferrer">Sunpin Solar</a>, a developer of commercial and utility-scale solar and energy storage projects, has <a href="http://www.sunpinsolar.us/news/sunpin-solar-closes-50-million-senior-secured-revolving-loan-facility-provided-by-crayhill-capital-management.html">closed</a> a senior secured revolving loan facility for up to $50 million with <a href="https://crayhill.com/" target="_blank" rel="noopener noreferrer">Crayhill Capital Management</a>, a New York-based private credit manager and asset-based lender. The facility will be backed by late-stage utility-scale solar projects under development by Sunpin Solar. The facility is designed to finance capital expenditure required by projects before construction, including power purchase agreement deposits, interconnection deposits, engineering, procurement, and construction deposits.
EDP Ventures, a Portuguese utility EDP unit, <a href="https://valor.globo.com/empresas/noticia/2020/12/28/edp-assina-acordo-de-investimento-na-blue-sol.ghtml" target="_blank" rel="noopener noreferrer">entered</a> an agreement to acquire a minority stake of 40% in Blue Sol Participacoes, a Brazilian distributed-generation PV company.
Fluence, an energy storage solutions provider, announced that it has <a href="https://tinyurl.com/mercomfaiq" target="_blank" rel="noopener noreferrer">entered</a> into a definitive agreement with the Qatar Investment Authority (QIA), under which QIA will commit to invest $125 million in Fluence through a private placement transaction. Fluence intends to use the net proceeds from the private placement to further accelerate the development of its product offerings, particularly digital products, and deployment of existing products in more markets globally.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener noreferrer">here</a>.
Read last week&#8217;s funding <a href="https://mercomindia.com/funding-and-ma-roundup-accenture/" target="_blank" rel="noopener noreferrer">roundup</a>.

Funding and M&A Roundup: ORIX to Acquire Elawan Energy for $965 Million

From: <a href="https://mercomcapital.com/funding-and-ma-roundup-hemlock/" target="_blank" rel="noopener">Mercom Capital Group</a>
Here is a roundup of corporate funding and M&amp;A deals from last week covering the global renewable energy industry:
<a href="http://hscpoly.com/" target="_blank" rel="noopener noreferrer">Hemlock Semiconductor Operations</a> (HSC) has <a href="https://www.solarpowerworldonline.com/2020/09/polysilicon-manufacturer-hemlock-semiconductor-acquires-dupont-business/" target="_blank" rel="noopener noreferrer">acquired</a> a DuPont business that makes trichlorosilane (TCS), the primary raw material used in producing the ultra-pure polysilicon HSC supplies to the semiconductor and solar industries. By acquiring the TCS operations in Midland, Michigan, HSC will be better able to control supply and substantially reduce costs. The Midland project is about 20 miles north of HSC’s campus just west of Saginaw, Michigan.
Alpiq Digital has <a href="https://www.current-news.co.uk/news/flexitricity-sold-on-in-15-million-transaction" target="_blank" rel="noopener noreferrer">divested</a> Flexitricity as it exits the UK demand response market. Alpiq has signed a share sales agreement with Reserve Power Holdings, which in turn is owned by investment manager Quinbrook, for the sale of Flexitricity is a CHF18 million (~$20 million) transaction.
Ubicquia, a smart grid solutions provider, has <a href="http://www.ubicquia.com/news/ubicquia-completes-30-million-series-c-funding-round" target="_blank" rel="noopener noreferrer">announced</a> it has completed its $30 million Series C funding round with participation from Fuel Venture Capital and existing investors. The Series C growth investment is focused on accelerating Ubicquia’s small cell and smart grid product offerings, along with increasing its working capital to address expanded manufacturing and order volumes.
Myst AI, a data analysis platform provider for electricity demand and supply forecasting, <a href="https://news.crunchbase.com/news/myst-ai-closes-6m-series-a-to-forecast-energy-demand-supply/?utm_source=cb_daily&amp;utm_medium=email&amp;utm_campaign=20200904&amp;utm_content=intro&amp;utm_term=content&amp;mkt_tok=eyJpIjoiTTJOaFltUmtOR00zTWpNMSIsInQiOiJ6cGpRME5ZQ0d6MDRHeDljTDh0MEN6U1g2dVV0UHkxNWZGa2FCV1RWRytyb2h4bG5RV3VEeTlRbTZaUThRc3lVXC9lajRmWXB1TW9GXC9sUk0rZFBna2sxMjZVdU1KcUFIUHEzaDZYemxaN1drbXgrN0tWTEthM0FrUTVDenNucTdRIn0%3D" target="_blank" rel="noopener noreferrer">secured</a> a $6 million Series A financing round to continue developing an artificial intelligence platform for time series forecasting in electricity. Valo Ventures led the investment with participation from Gradient Ventures, which led Myst AI’s $2 million seed round in 2018, Pieter Verhoeven, co-founder, and CEO, said. With the new funding, the company has raised a total of $8 million to date.
AMMP Technologies, the operations platform for decentralized renewable energy systems, has <a href="https://www.ammp.io/2020/09/07/ammp-technologies-secures-investment/" target="_blank" rel="noopener noreferrer">raised</a> €1.15 million (~$1.35 million) in venture funding. AMMP supports the rapidly accelerating global shift from a centralized generation based on fossil fuels towards decentralized renewable energy.
Georgia-headquartered solar construction company <a href="https://www.sunshinesolar-llc.com/" target="_blank" rel="noopener noreferrer">Sunshine Solar</a> has <a href="https://www.solarpowerworldonline.com/2020/09/sunshine-solar-to-acquire-utility-scale-foundation-company-terra-posts-pv/" target="_blank" rel="noopener noreferrer">announced</a> that its affiliate Bravo will acquire Terra Posts PV, a utility-scale solar foundation installation company. Terra Posts PV owns and operates a fleet of 10 GAYK pile-driving machines and accompanying equipment and vehicles.
Canadian Solar, a vertically integrated solar manufacturer, <a href="http://investors.canadiansolar.com/news-releases/news-release-details/canadian-solar-announces-proposed-offering-us200-million" target="_blank" rel="noopener noreferrer">announced</a> the proposed offering, subject to market and other conditions, of $200 million in aggregate principal amount of senior convertible notes due 2025 that is exempt from the registration requirements of the Securities Act of 1933, as amended. The company intends to grant the initial purchasers in the proposed offering a 30-day option to purchase up to an additional $30 million aggregate principal amount of the notes. The company plans to use the net proceeds from the proposed offering for general corporate purposes, which may include the expansion of manufacturing capacity, development of solar power projects, and working capital.
For reports and trackers on funding and M&amp;A transactions in solar, energy storage, smart grid, and efficiency sectors, click <a href="https://mercomcapital.com/clean-energy-reports/" target="_blank" rel="noopener noreferrer">here</a>.
Read last week’s funding <a href="https://mercomindia.com/funding-ma-lithium-ion-battery-maker-grinntech/" target="_blank" rel="noopener noreferrer">roundup</a>.
Image credit: Renovalia Energy Group

Funding and M&A Roundup: Hemlock Semiconductor Acquires DuPont’s Solar Material Unit

<a href="https://www.orix.co.jp" target="_blank" rel="noopener noreferrer">Orix</a>, a financial services group headquartered in Tokyo, has announced that it will acquire 51% stake in seven wind power generating subsidiaries which it jointly owns with <a href="https://www.ilfsindia.com/our-work/energy/" target="_blank" rel="noopener noreferrer">Infrastructure Leasing &amp; Financial Services Wind Energy Ltd</a> (IWEL).
IWEL is the wholly-owned subsidiary of IL&amp;FS Energy Development Company Limited which, in turn, is a subsidiary of Infrastructure Leasing &amp; Financial Services Limited (IL&amp;FS), Telangana-based infrastructure development and investment company in which Orix has a significant share.
Orix and IL&amp;FS are looking towards obtaining all necessary approvals to turn these seven subsidiaries into Orix’s wholly-owned subsidiaries.
Orix has owned 49% of the shares of seven Special Purpose Vehicles (SPVs) with the aim of developing its wind power generation business in India. These seven SPVs operate wind power projects with a combined capacity of 873 MW in seven states mainly in the southern and western parts of India, where wind conditions are particularly favorable.
According to the company’s statement, “In future, India’s wind power generation market is expected to experience high growth. For this reason, Orix has moved to purchase the remaining 51% of the shares of each of the seven SPVs owned by IWEL, and turn them into wholly-owned subsidiaries.”
<a href="https://mercomindia.com/mitsui-acquire-mahindra-groups-cleantech-arm/" target="_blank" rel="noopener noreferrer">In a similar development a couple of months ago</a>, Japanese trading and investment company <a href="https://www.mitsui.com/jp/en/index.html" target="_blank" rel="noopener noreferrer">Mitsui &amp; Co Limited</a> announced that it had entered into an agreement with Indian engineering, procurement, and construction company (EPC), <a href="https://www.mahindrasusten.com/" target="_blank" rel="noopener noreferrer">Mahindra Susten</a>, to develop and operate distributed solar projects in India jointly. Mitsui has acquired a 49% stake in Marvel Solren Private Limited, a Mahindra company that already has a portfolio of 16 MW of distributed solar.
In <a href="https://mercomindia.com/ilfs-sell-stakes-assets-solar-wind/" target="_blank" rel="noopener noreferrer">November</a> 2018, the IL&amp;FS announced that it is going to achieve the resolution of the IL&amp;FS group through certain measures, including asset divestments.  Of the energy assets, operating wind power generating projects with an aggregate capacity of 873.5 MW, as well as under-construction wind power projects with a total capacity of 104 MW were proposed to be sold.
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Image credit: IL&amp;FS

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