Gamesa wins order to set up 50MW wind farm for Green Infra...

 

Gamesa Wind Turbines has won an order to supply wind turbines and set up a 50MW wind power project for Green Infra, an independent power producer backed by IDFC Private Equity.

Under this contract, Gamesa would set up 25 units of 2MW turbines at Kosegaon, Maharashtra. The project is scheduled to be complete in two phases. Gamesa would develop the site.

It would supply, commission, operate and maintain the turbines for a period of 10 years, a statement from the company said.

"We are happy that Green Infra has joined the customer base of Gamesa India. This business deal comes at a time when the wind industry is poised to bounce back in the light of the government announcing restoration of generation based incentive scheme (GBI)" to the wind industry, Ramesh Kymal, chairman and managing director, Gamesa India, said.

Gamesa recently won orders to set up a 46MW wind power project for ITC Paperboards and Specialty Papers Division and two projects for Greenko and CLP India, totalling 230MW with an option to further supply 200MW to Greenko, and all are set to be commissioned in the first quarter of 2014.

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UK's CDC Group invests $25 Million in Green Infra, $200 Million in the infrastructure fund of idfc...

 

UK's Development Finance Institution (DFI) CDC Group Plc has invested around $225 Million in IDFC Alternatives' second infrastructure fund and renewable energy firm Green Infra.

CDC has invested $25 million in Green Infra, one of India’s largest independent renewable power producers with generating capacity of 387 MW. Green Infra is incubated and owned by private equity funds managed by IDFC Alternatives. CDC's investment is part of a $125 million financing round for Green Infra, where earlier it raised funding from Piramal Enterprises.

Green Infra will use the capital to expand its wind and solar power generation capacity through a combination of organic growth and selective acquisitions. The company has grown its generating capacity to 387 MW across 18 assets in six Indian states, with more than 90% of its generation capacity coming from wind. The CDC investment will allow Green Infra to reach its targeted capacity of 1,000 MW of generating assets by 2016, the equivalent of 5 per cent of India’s current wind capacity.

CDC Group also said that it is committing $200 million to the India Infrastructure Fund 2 (IIF2), run by IDFC Alternatives. The commitment from CDC, which is its largest ever to an Indian investment fund, helped IIF2 reach a first close of $644 million in September.

The fund is expecting a final close at $1 billion by end of 2013. CDC has had a long association with IDFC, as it was an early investor in the infrastructure lender in the 90s and also backed its private equity funds as a limited partner (LP). CDC also backed IDFC’s first India Infrastructure Fund in 2008 by providing $100 million.

CDC is one of the largest investors in Indian private equity funds with over $680 million invested - and $1.1 billion committed - supporting almost 300 companies in the country. Around 28 per cent of CDC’s Indian investment has been in infrastructure.

Original article is posted here.

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Green Infra acquired majority stake holding in TVS Energy for 50.75 MW Wind Projects...

Green Infra Limited seems to have acquired majority stake in the wind assets of TVS Energy.

TVS Energy has decided to exit from its Wind Energy business which was having around 59.75 MW wind farms in the states of Tamil Nadu and Maharashtra.

Green Infra which is a renewable energy arm of IDFC has acquired majority stake in the TVS Energy. With this the operating portfolio of Green Infra has reached to 377 MW.

Thus it seems that the company is on track to reach the capacity plan of 500 MW by March 2014.

Incorporated in April 2008 by the private equity funds of IDFC Alternatives, Green Infra is one of the leading clean energy independent power producer in both solar and wind segment in the country.

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More literature on this...

• http://economictimes.indiatimes.com/news/news-by-industry/energy/power/green-infra-acquires-majority-stake-in-tvs-energy/articleshow/21861760.cms
• http://www.indianpowersphere.com/2013/07/green-infra-seems-to-be-very-close-to.html

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Green infra seems to be very close to acquired 59.5 MW Wind projects of tvs energy...

 

Delhi based, Renewable Energy Developer, Green Infra Ltd, seems to be quite close to acquire the 59.5 MW Wind Energy generating assets of TVS Energy.

Green Infra is Equity promoted by IDFC, an Infrastructure Finance Company has bided for the 59.5 MW Wind Energy Projects of TVS Energy. TVS Energy is a wholly-owned subsidiary of TVS Motor and was set up around three (3) years ago.

Apart from Green Infra, Mytrah Energy and Orient Green Power are also in the race of buying the Wind Energy Projects.

It seems that various Wind Energy Developers have started to consider the sale of Wind Projects. Many companies put up wind power capacity for the purpose of availing "Accelerated Depreciation" to get benefits of Tax Savings. 

Developers such as BP, DLF, VRL Logistics etc have closed deals to sell their Wind Energy Assets in recent past. Further, companies like Lanco Infra, Ashok Leyland and KS Oils etc have also announced their intentions to sell.

Thus the wind power assets are passing from the hands of companies for whom ‘wind’ is a non-core business activity, to the hands of ‘independent power producers’ whose very business is to generate power and sell it.

• JP Morgan-backed Leap Green, Mumbai-based Ushdev International, Bharat Light and Power, and Green Infra are among the companies that have announced plans to grow their wind businesses.
• Ushdev International, for instance, intends to raise its capacity from 90 MW to 350 MW this year, only through acquisitions. Even its existing capacity was acquired from Suzlon Energy.
• Leap Green and BLP have bought parts of DLF assets.
• Green Infra is among the earliest acquirers—in 2009, it bought a 100-MW wind farm from the British oil giant, BP, which then began the process of exiting wind business.

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Additional Readings

http://www.thehindubusinessline.com/companies/green-infra-close-to-acquiring-tvs-energys-wind-power-assets/article4935638.ece

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Green Infra commissions 10-MW solar plant in Gujarat…

• Green Infra Ltd, a renewable energy-focused power generation company, has commissioned its first 10-megawatt (MW) solar photovoltaic (PV) power plant in village Mervadar in Rajkot district of Gujarat. The company invested Rs 130 crore in the facility and has commissioned it ahead of its schedule, according to a release. This is the first solar plant to be commissioned under the second phase of Gujarat's solar policy, Mr Shiv Nimbargi, Managing Director and CEO, said. The solar PV plant is expected to generate 16 million units of energy annually, supplying electricity to over 4,000 homes and saving 12,000 tonnes of carbon emissions.

• With the commissioning of this plant, Green Infra's operating capacity now stands at 174 MW. The company is on track to implement an additional 150 MW by the end of this financial year, with a longer term plan to reach total generating capacity of 3,000 MW by 2015 across several renewable energy secto rs in a diversified portfolio including wind, solar, small hydro, biomass and energy efficiency sectors. Incubated by IDFC Private Equity Funds in 2008, Green Infra now has 174 MW of operating assets under management in Tamil Nadu, Karnataka, Maharashtra and Gujarat.

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