Daily News Wrap-Up: Adani Green Commissions a 25 MW Solar Project in Uttar Pradesh

VoltUp has partnered with Hindustan Petroleum Corporation to open battery swapping centers across India


Here are some noteworthy cleantech announcements of the day from around the world:

Adani Solar Energy Chitrakoot One, a step-down subsidiary of Adani Green Energy, has commissioned a 25 MW solar power project at Chitrakoot, Uttar Pradesh. The project has a power purchase agreement with Noida Power Company at a tariff of ₹3.08(~$0.042)/kWh. The facility is expected to be connected with the company’s Energy Network Operation Center that monitors and analyses the performance of over 80 solar and wind projects across India. With this commissioning, Adani Green Energy’s total renewable capacity grows to 2,975 MW.

VoltUp, a start-up that provides lithium-ion battery swapping solutions for two-wheelers and three-wheelers, has partnered with Hindustan Petroleum Corporation to open battery swapping centers across India. As part of the partnership, the company unveiled two such centers in Jaipur, Rajasthan, while announcing plans to open 50 battery swapping centers in the next six months. The company said the swapping stations would be fire and safety compliant with a wallet-based payment system.

National Institute of Solar Energy has issued a tender to empanel the training partners for its “Varunmitra Skill Development” program in the financial year 2020-21. The program aims to develop the skills of youth who are considering employment opportunities in companies engaged in the installation, operation, and maintenance of solar water pumps in India and abroad. The last date for the submission of applications is January 28, 2021. The training partner must be a government institution, engineering college, polytechnic college, Pradhan Mantri Kaushal Kendra, or any other affiliated skill development center with proper infrastructure.

SUSI‘s Energy Transition Fund has completed the acquisition of Greenfinity, an energy efficiency company of Genera Group. The acquisition represents the company’s first equity investment in the energy efficiency space. The transaction encompasses the acquisition of a majority stake of Greenfinity, which directly and in most cases fully-owns eight Special Purpose Vehicles (SPVs) managing twelve operating energy efficiency projects in Italy and Brazil. Prothea, an Italy-based asset management service provider, acted as a financial advisor to SUSI.

KKR, a global investment firm, announced the closure of KKR Asia Pacific Infrastructure Investors SCSp, a $3.9 billion fund focused on infrastructure-related investments across the Asia Pacific. At the time of close, the fund reached its hard cap to become the largest pan-regional infrastructure fund that has been raised for the Asia Pacific. The fund’s size aligns with the company’s expectation for infrastructure deal flow in the region in the long-term. KKR invested around $300 million in the capital alongside external investors through its balance sheet and employee commitment.

MPC Capital has launched a new renewable platform called MPC Energy Solutions. In a private placement directed towards institutional investors, MPV Energy Solutions raised a total of 875 million Norwegian Krone (~$100 million) in advance of its listing on Oslo Stock Exchange’s Euronext Growth Segment. In line with its institutional co-investment strategy, MPC Capital has co-invested in the newly listed company. The company aims to implement projects with over 500 MW of installed capacity of low carbon and renewable energy infrastructure over the next two years.

Here is our previous daily news wrap-up.