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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TVS submitted a note to BSE regarding its plan of selling off wind energy business...

 

TVS Motor Company has submitted a note to BSE confirming its plan of exiting from the wind energy business.

TVS Motor is having wind projects of around 59.5 MW capacity has been set up with an investment of around Rs. 37.5 Crores under the two SPVs TVS Wind Energy Ltd and TVS Wind Power Ltd.

All the projects have been registered with the United Nations Framework Convention on Climate Change (UNFCCC) under Clean Development Mechanism (CDM) for carbon credits.

As said by the company officials, it has decided sell and not be in the business as it is capital-intensive.

In the recent time, several wind developers are selling of their wind generation projects. Further, the wind industry in the country is also issues related to policy and regulatory.

With the slowdown in the economy, bankers are forcing several companies that have invested in their non-core businesses and raise funds, resulting in companies like TVS selling off stake in the energy business.

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More literature on this...

http://timesofindia.indiatimes.com/business/india-business/TVS-Group-to-exit-energy-business/articleshow/21720839.cms

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Mytrah Energy withdrew its plan of acquiring TVS Energy's 59.75 MW Wind Energy Assets...

 

Mytrah Energy seems to have been withdrew its planned acquisition of 59.75 MW wind energy assets of TVS Energy.

Mytrah Energy along with some other companies were planning to acquire the wind energy assets of TVS Energy. However, recently it seems that Mytrah Energy has pulled out its bid from the race.

According to sources, the company has cited the reasons behind this are lack of visibility regarding regulatory approvals and certain unresolved due diligence findings.

However, according to company, the funds for the acquisition are still available and is currently evaluating some other projects and acquisitions.

As said by the company officials, the current installed capacity of wind projects is around 309.9 MW and another  238 MW of capacity addition is in pipeline and to come on stream by the year end.

 

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Additional Reading...

http://renews.biz/47379/mytrah-drops-59-75mw-india-deal/

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