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					</table><p>Abu Dhabi&#8217;s International Holding Company PJSC (<a href="https://www.ihcuae.com/" target="_blank" rel="noopener">IHC</a>) is set to divest its investments in <a href="https://www.adanigreenenergy.com/about-us" target="_blank" rel="noopener">Adani Green Energy</a> and <a href="https://www.adanienergysolutions.com/" target="_blank" rel="noopener">Adani Energy Solutions</a> (formerly Adani Transmission).</p>
<p>IHC Subsidiaries, Green Energy Investment Holding, and Green Transmission Investment Holding have reached an agreement with a buyer to dispose of their foreign direct investments in Adani Green Energy and Adani Transmission.</p>
<p>IHC said that this decision aligns with its broader portfolio rebalancing strategy. The company is currently completing all procedures and obtaining the regulatory approvals to execute the agreed-upon transaction.</p>
<p>Last April, IHC <u><a href="https://www.mercomindia.com/adani-green-to-receive-500-million-of-ihcs-2-billion-investment/" target="_blank" rel="noopener">announced</a></u> an investment of $2 billion across three companies within the Adani Group. Adani Green Energy had received $500 million, Adani Transmission $500 million, and Adani Enterprises $1 billion through a preferential allotment route. The capital infusion was primarily dedicated to driving the growth of these respective businesses, reinforcing their financial positions, and serving general corporate purposes.</p>
<p>In February, Adani Enterprises <a href="https://mercomindia.com/abu-dhabis-ihc-invest-400-million-adanis-share-offer/" target="_blank" rel="noopener">confirmed</a> its plan to return the AED1.4 billion (~$381 million) investment made by IHC in its three green energy-focused subsidiaries. Adani Enterprises emphasized its commitment to safeguarding the interests of its investors by returning the proceeds from the follow-on public offering to all investors. This action was taken in response to market volatility and unforeseen circumstances.</p>
<p>Adani Green Energy is set to <a href="https://www.mercomindia.com/adani-green-billion-via-share-offering" target="_blank" rel="noopener">raise</a> ₹123 billion (~$1.4 billion) through the sale of shares via qualified institutional placement or permissible methods. The company intends to issue a specific number of equity shares, each having a face value of ₹10 (~$0.12), alongside other eligible securities or a combination thereof. The aggregate amount raised will not exceed ₹123 billion (~$1.4 billion) or an equivalent sum.</p>
<p>In July 2023, Adani New Industries, a wholly owned subsidiary of Adani Enterprises, <a href="https://www.mercomindia.com/adani-394-million-barclays-deutsche-bank-solar-manufacturing" target="_blank" rel="noopener">secured</a> a trade finance facility of $394 million from Barclays PLC and Deutsche Bank AG to fulfill the working capital needs of their integrated solar module manufacturing facility.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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Abu Dhabi’s IHC to Divest its Shares in Adani Renewable and Transmission Arms


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					</table><p>United States- based equity investment firm <a href="https://gqgpartners.com/" target="_blank" rel="noopener">GQG Partners</a> has closed a major deal involving a series of secondary block trade transactions amounting to ₹154.46 billion (~$1.87 billion) in the Adani Portfolio companies.</p>
<p>The investments include ₹54.6 billion (~$663.21 million) in <a href="https://www.adanienterprises.com/" target="_blank" rel="noopener">Adani Enterprises</a> for 38.7 million shares at a price of ₹1,410.86 (~$17.14) per share. <a href="https://www.adaniports.com/" target="_blank" rel="noopener">Adani Ports and Special Economic Zone</a> received ₹52.82 billion (~$641.59 million) for 88.6 million shares at a price of ₹596.2 (~$7.24) per share.</p>
<p><a href="https://www.adanitransmission.com/" target="_blank" rel="noopener">Adani Transmission</a> received ₹18.98 billion (~$230.54 million) for 28.4 million shares at ₹668.4 (~$8.12) per share. The investment in <a href="https://www.adanigreenenergy.com/" target="_blank" rel="noopener">Adani Green Energy</a> stood at ₹28.06 billion (~$340.81 million) for 55.6 million shares at ₹504.6 (~$6.13) per share.</p>
<p>&#8220;I am excited to have initiated positions in the Adani companies. Adani companies own and operate some of the largest and most important infrastructure assets throughout India and around the world. Gautam Adani is widely regarded as among the best entrepreneurs of his generation. We believe that the long-term growth prospects for these companies are substantial, and we are pleased to be investing in companies that will help advance India&#8217;s economy and energy infrastructure, including their energy transition over the long run,&#8221; said Rajiv Jain, Chairman and CIO of GQG Partners.</p>
<p>GQG Partners specializes in global and emerging markets and manages more than A$130 billion (~$87.65 billion) in client assets as of January 31, 2023.</p>
<p>Jefferies India was the sole broker for the transaction.</p>
<p>Adani Enterprises recently <a href="https://mercomindia.com/abu-dhabis-ihc-invest-400-million-adanis-share-offer/" target="_blank" rel="noopener">confirmed</a> that it would return Abu Dhabi&#8217;s International Holding Company&#8217;s AED 1.4 billion (~$381 million) investment into its three green energy-focused companies. Adani Enterprises stated that it aims to protect the interests of its investors by returning the follow-on public offering proceeds to all investors and withdrawing the completed transaction due to market volatility and unforeseen circumstances.</p>
<p>Adani Green recently <a href="https://mercomindia.com/sri-lanka-awards-wind-power-projects-adani-green/" target="_blank" rel="noopener">received</a> a letter of approval to develop two wind energy projects in the Mannar and Ponneryn regions of northern Sri Lanka. The projects will require a total investment of $442 million. The Mannar wind energy project will operate at a capacity of 250 MW, while the Ponneryn project will operate at a capacity of 100 MW.</p>
<p>Adani Green Energy <a href="https://mercomindia.com/adani-greens-profit-surges-hybrid-capacity-addition/" target="_blank" rel="noopener">posted</a> a net profit of ₹1.03 billion (~$12.4 million) for the third quarter of the financial year 2022-23, a surge of 110% year-over-year.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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GQG Partners Invests ₹154 Billion in Adani Group Companies


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					</table><p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><a href="https://www.adanitransmission.com/" target="_blank" rel="noopener"><strong>Adani Transmission</strong></a><strong> has incorporated a wholly-owned subsidiary, BEST Smart Metering (BSML), to undertake the smart meter business.</strong> Adani Transmission has 100% equity of ₹100,000 (~$1,207) divided into 10,000 equity shares of ₹10 (~$0.12) each in the company.</p>
<p><strong>NTPC </strong><a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/66fabc44-c9cf-4a5b-85d2-e75ff313cbad.pdf" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the second part of the 300 MW Nokhra solar power project in Bikaner, Rajasthan, with a capacity of 50 MW, has been declared ready for commercial operation</strong>. The first part of the project, with a capacity of 100 MW, was declared ready for commercial operation on December 20, 2022. With this, the standalone installed and commercial capacity of NTPC will become 58,259 MW, and the group&#8217;s capacity will be 70,874 MW.</p>
<p><strong>The Commission for Air Quality Management in the National Capital Region (NCR) and adjoining areas has </strong><a href="https://www.pib.gov.in/PressReleasePage.aspx?PRID=1887103" target="_blank" rel="noopener"><strong>taken</strong></a><strong> a strong stance against pollution caused by the use of heavily polluting fuels such as coal in various industrial, commercial, and other miscellaneous applications.</strong> The Commission has reminded all sectors, including industrial units, to stop using unapproved fuels, including coal (except for low-sulfur coal in thermal power plants) as of January 1, 2023, or face immediate closure and fines.</p>
<p><strong>The Central Electricity Authority (CEA) </strong><a href="https://egazette.nic.in/WriteReadData/2022/241485.pdf" target="_blank" rel="noopener"><strong>approved</strong></a><strong> Tata Power Green Energy&#8217;s request for connectivity of its 225 MW solar power project in the Bikaner district of Rajasthan.</strong> The approval has been granted for 25 years. The company must seek the authorities&#8217; consent to put up overhead lines. If the route of the overhead lines falls in the Great Indian Bustard (GIB) potential zone, the company will have to comply with the directions of the Supreme Court concerning undergrounding the transmission lines or installing bird diverters.</p>
<p><strong>The U.S. Department of Energy (DOE) </strong><a href="https://www.energy.gov/articles/doe-proposes-new-efficiency-standards-distribution-transformers" target="_blank" rel="noopener"><strong>proposed</strong></a><strong> new energy-efficiency standards for three categories of distribution transformers in an effort to improve the resilience of the power grid, lower utility bills, and significantly reduce CO2 emissions.</strong> The proposal represents a move toward using amorphous steel cores in transformers, which are significantly more energy efficient than those made of traditional grain-oriented electrical steel. If implemented, the DOE estimates that these measures would reduce CO2 emissions by 340 million metric tons over the next 30 years. The current efficiency standards apply to three categories of distribution transformers: liquid-immersed, low-voltage dry-type, and medium-voltage dry-type. DOE&#8217;s proposed rule would modify the energy conservation standards for all three categories.</p>
<p><strong>TotalEnergies ENEOS </strong><a href="https://en.prnasia.com/releases/apac/totalenergies-eneos-signs-another-solar-rooftop-installation-for-carros-centre-the-largest-freehold-automotive-hub-in-singapore-388843.shtml" target="_blank" rel="noopener"><strong>signed</strong></a><strong> a deal to install a 1 MW rooftop solar system at CARROS Centre, Singapore&#8217;s largest freehold automotive hub, to power the facility with renewable energy.</strong> This is the second project for CARROS Centre, with the first installation in 2019. Upon completion, the solar system is expected to generate about 1,250 MWh of electricity annually. The system will also help to offset approximately 480 tons of CO2 emissions annually, equivalent to planting over 7,200 trees. In addition to reducing the company&#8217;s carbon footprint, CARROS Centre will also benefit from electricity supply cost savings from the clean energy produced for 25 years without any upfront investments.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
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Daily News Wrap-Up: Adani Incorporates Subsidiary for Smart Meter Business


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					</table><p><strong>Here are some noteworthy cleantech announcements of the day from around the world:</strong></p>
<p><a href="https://www.hitachi.co.in/index.html" target="_blank" rel="noopener"><strong>Hitachi Energy India</strong></a><strong> has been awarded a contract by </strong><a href="https://www.ntpc.co.in/en/power-generation/renewable-energy" target="_blank" rel="noopener"><strong>NTPC Renewable Energy</strong></a><strong> to supply power transformers for their upcoming 4.75 GW renewable energy park in Gujarat</strong>. Spread over 72,600 hectares in Kutch, the solar park supports the country&#8217;s efforts toward a carbon-neutral future with its increasing green energy footprint. Hitachi Energy will provide ten 315 MVA 400/33/33 kV transformers manufactured at its transformers factory in Vadodara. This will be the largest transformer rating for solar power evacuation.</p>
<p><strong>Adani Transmission <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/a047570c-54a9-41ba-92ec-beca7783b673.pdf" target="_blank" rel="noopener">emerged</a> as the successful bidder in the BEST undertaking&#8217;s recent auction for the appointment of an advanced metering infrastructure service provider. </strong>The company&#8217;s distribution platform will implement the smart metering project on a design-build-finance-own-operate-transfer basis. As a part of the mandate, 1.08 million smart meters and related communication and cloud infrastructure will be installed over 30 months and maintained for the following 90 months. The smart meters will empower BEST consumers to monitor online consumption patterns and take prompt corrective action as deemed necessary.</p>
<p><strong>Triton Electric Vehicle India, a part of Triton Electric Vehicle, </strong><a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/0bf816d4-71a2-45b8-b5c3-23a749027b16.pdf" target="_blank" rel="noopener"><strong>issued</strong></a><strong> a letter of intent to Bharat Electronics Limited (BEL) to procure 300 kW Li-Ion battery packs </strong>for its semi-truck project in India at an estimated value of ₹80.60 billion (~$974 million). The battery packs are to be delivered by BEL to Triton in 24 months commencing from January 2023. BEL has also signed an MoU with Triton to manufacture hydrogen fuel cells with technology transfer from Triton to meet the requirements of the Indian market and mutually agreed export markets.</p>
<p><strong>NLC India </strong><a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/a3b8313a-3149-4bc3-a810-d2acee2f71ad.pdf" target="_blank" rel="noopener"><strong>entered</strong></a><strong> into a memorandum of understanding with the National Institute of Wind Energy (NIWE) for strategic collaboration in developing onshore and offshore wind power projects in India.</strong> The agreement was signed between NLC and NIWE to carry out collaborative technical services and advisories for developing onshore and offshore wind energy projects. The agreement seeks to synergize the technical expertise of NIWE and the project development capabilities of NLC India.</p>
<p><a href="https://www.jindalsteelpower.com/" target="_blank" rel="noopener"><strong>Jindal Steel and Power</strong></a><strong> signed a memorandum of understanding with </strong><a href="https://greenkogroup.com/" target="_blank" rel="noopener"><strong>Greenko Group</strong></a><strong> to facilitate 1,000 MW of carbon-free energy for its steel-making operations at Angul, Odisha.</strong> Greenko will assist Jindal Steel and Power in designing the comprehensive energy solution, including designing and developing the associated renewable capacity, identifying potential strategic investors for the renewable energy capacity, and making available energy storage capacity. The proposed 1,000 MW carbon-free energy is targeted to meet Jindal&#8217;s Angul facility&#8217;s existing and incremental power demand. As part of the proposed transaction, Greenko Group will offer energy storage capacity from its off-stream closed-loop pumped storage project under development in Madhya Pradesh and Rajasthan.</p>
<p><strong>Asia Brewery, a leading beverage, and industrial packaging company has </strong><a href="https://solar.totalenergies.asia/2022/10/17/asia-brewery-a-major-player-in-the-philippines-beverage-industry-awards-solar-rooftop-project-to-totalenergies-eneos/" target="_blank" rel="noopener"><strong>awarded</strong></a><strong> TotalEnergies ENEOS a 13.8 MW</strong><strong> solar system at one of its manufacturing facilities in the Philippines.</strong> This system will power about 24% of the facility with renewable energy. It is one of the largest single-site rooftop solar projects in the Philippines. With over 24,000 solar panels installed, the rooftop system will generate approximately 20,000 MWh of renewable energy annually, reducing the company&#8217;s carbon footprint by about 9,600 tons of CO2 emissions annually, equivalent to planting more than 129,000 trees over the contract period. Under the project, TotalEnergies ENEOS will install and operate the solar system while Asia Brewery will pay for the electricity generated for nine years without any upfront investments.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
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Daily News Wrap-Up: Hitachi Wins Deal to Supply Transformers for NTPC’s 4.75 GW Solar Park

<p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>During FY 2021-22, power sector Central Public Sector Enterprises (CPSEs) have invested ₹321.37 billion (~$4.23 billion) until November 2021, </strong>63.4% of the annual capital expenditure (CAPEX) target. The target <a href="https://pib.gov.in/PressReleasePage.aspx?PRID=1783195" target="_blank" rel="noopener">set</a> by the Ministry of Power for the FY 2021-22 was ₹506.9 billion (~$6.67 billion). Power CPSEs registered a 45% growth in CAPEX investment over the previous year. Besides the expenditure of invested ₹321.37 billion (~$4.23 billion) by CPSEs, an additional ₹34.91 billion (~$460.16 million) has been invested in infrastructure through development programs of the ministry. In all, until the end of November, the Power Ministry has invested ₹356.29 billion (~$4.7 billion) in infrastructure development.</p>
<p><strong>Adani Transmission Limited, the power transmission arm of Adani Group, has <a href="https://www.adanitransmission.com/newsroom/media-releases/Adani-completes-one-of-Indias-largest-intra-state-transmission-lines" target="_blank" rel="noopener">completed</a> the construction of intra-state transmission lines of 897 circuit kilometers. </strong>The transmission lines comprise four 765 kV and 400 kV bay extensions at Agra, Greater Noida, and Hapur in Uttar Pradesh. The company developed the project under the public-private partnership model on a build, own, operate, and maintain basis. The project would provide transmission services to long-term transmission consumers with 35 years of runway ahead. The project would evacuate power from three 660 MWs Ghatampur thermal power stations owned by the Neyveli Uttar Pradesh Power Limited and help strengthen the transmission network of Uttar Pradesh.</p>
<p><strong>Fortum, a Finnish state-owned energy company, has </strong><a href="https://www.fortum.com/media/2021/12/fortum-receives-funding-business-finland-lithium-recovery-harjavalta-battery-material-recycling-facility" target="_blank" rel="noopener"><strong>received</strong></a><strong> €10 million (~$11.26 million) in funding from Business Finland.</strong> The funding would help the company set up a hydrometallurgical recycling facility in Harjavalta, Finland. The facility is expected to be commissioned in 2023. The facility would recycle the valuable metals in lithium batteries used in electric cars, various waste fractions generated in the battery production chain, and sustainable battery chemicals made from recycled raw materials.</p>
<p><strong>The Government of Telangana has </strong><a href="https://www.thehansindia.com/news/cities/hyderabad/ts-govt-setting-up-200-acre-ev-park-at-seetarampur-720500" target="_blank" rel="noopener"><strong>announced</strong></a><strong> a 200-acre electric vehicle (EV) park at Seetarampur village in the Ranga Reddy district.</strong> Sujai Karampuri, Director Electronics, Government of Telangana, said the land has already been identified, and the allotments would be made in the next two to three months. The park aims to support micro, small, and medium enterprises in the EV sector. The park is expected to promote lithium-ion cell and battery manufacturing, solar cell and module assembly, and other new and renewable energy-related manufacturing.</p>
<p><strong>Dubai Electricity and Water Authority (DEWA) has </strong><a href="https://www.dewa.gov.ae/en/about-us/media-publications/latest-news/2021/12/digital-dewas-moro-hub-breaks-ground" target="_blank" rel="noopener"><strong>started</strong></a><strong> the first phase of the solar-powered data center in the Middle East and Africa.</strong> Moro Hub, a subsidiary of Digital DEWA, would implement the data center at the Mohammed Bin Rashid Al Maktoum Solar Park in Dubai. The data center would use 100% renewable energy with a capacity of over 100 MW. This is the second solar-powered data center launched by Moro Hub in Dubai.</p>
<p><strong>Mayflower Wind, a joint venture between Shell New Energies and Ocean Winds and offshore wind projects developers, was </strong><a href="https://www.oceanwinds.com/news/uncategorized/ocean-winds-and-shell-awarded-400-mw-in-massachusetts-offshore-wind-energy-procurement-for-their-mayflower-wind-joint-venture/" target="_blank" rel="noopener"><strong>awarded</strong></a><strong> a 400 MW power purchase agreement (PPA) </strong>by the Commonwealth of Massachusetts and its three utilities as part of Massachusetts’ 83C III offshore wind energy procurement. With its 804 MW PPA from 83C II, Mayflower Wind would now provide over 1,200 MW of clean energy power consumers throughout Massachusetts, United States. The project is expected to produce green energy to meet the power demands of 800,000 households annually while eliminating 4 million tons of greenhouse gas emissions.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/harsh-shukla/" class="vcard author" rel="author"><span class="fn">Harsh Shukla</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2022/02/Harsh-Shukla-293x300-1-new.jpg" width="99" height="102" /><a href="https://mercomindia.com/author/harsh-shukla/" target="_blank" rel="noopener"><strong style="color: #00b451">Harsh Shukla</strong> </a>is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.</p>
<p><a href="https://mercomindia.com/author/harsh-shukla/">More articles from Harsh Shukla.</a></p>
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Daily News Wrap-Up: Power Ministry Invests ₹356.29 Billion in Infrastructure Growth

<p><a href="https://www.adanitransmission.com/" target="_blank" rel="noopener">Adani Transmission</a>, the electric power transmission business arm of the Adani Group, has raised $700 million in senior debt facility for its under-construction transmission asset portfolio through definitive agreements signed with international banks.</p>
<p>Eight international banks – DBS Bank, Intesa Sanpaolo, Mizuho Bank, MUFG Bank, Siemens Bank, Societe Generale, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation – have committed to the facility. The transaction will meet the capital recycling needs of the banks and make the c capital available for existing and future projects of Adani Transmission.</p>
<p>The company will use the funding to achieve its goal of 20,000 circuit kilometers of transmission lines by 2022.</p>
<p>As per the agreements, the company will engage with financiers to raise funding for its all-future project as per the agreed threshold parameters. The capital expenditure (CAPEX) revolving facility is expected to fund the CAPEX program of $1.1 billion.</p>
<p>The revolving facility is the company’s step toward overall energy transition. Adani’s projects located in Gujarat are part of the green energy corridor, a dedicated transmission line for renewable energy. Its projects in Maharashtra are critical response drivers to overcome technical constraints of renewable energy interface into the grid to ensure overall grid stability and integration of green energy into Mumbai.</p>
<p>Adani’s distribution company in Mumbai has set a target of procuring at least 60% energy from renewable sources from its existing 3%.</p>
<p>The company said Adani Group’s overall organic and inorganic investments across the energy value chain would range between $50 billion and $70 billion, with over 70% of CAPEX in sustainable technologies.</p>
<p>Anil Sardana, Managing Director and Chief Executive Officer of Adani Transmission, said, “This project financing deal is the first of its kind sanctioned by international banks in the transmission sector and validates the overall development model of the Adani Group. All the Adani Group companies have aligned their investment plans to honor the nation’s commitment to climate change. Adani Transmission is at the forefront of grid stability and providing sustainable, reliable, and affordable energy solutions.”</p>
<p>In 2019, the company <a href="https://mercomindia.com/adani-power-transmission-gujarat-renewable-energy-evacuation/" target="_blank" rel="noopener">received</a> letters of intent from REC Transmission Projects Company Limited to develop two transmission projects in Gujarat.</p>
<p>In the same year, the company <a href="https://mercomindia.com/adani-acquires-transmission-project-rajasthan/" target="_blank" rel="noopener">signed</a> a share purchase agreement and completed the acquisition of the special purpose vehicle of Bikaner-Khetri Transmission Limited (BKTL), incorporated by PFC Consulting Ltd.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/harsh-shukla/" class="vcard author" rel="author"><span class="fn">Harsh Shukla</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2022/02/Harsh-Shukla-293x300-1-new.jpg" width="99" height="102" /><a href="https://mercomindia.com/author/harsh-shukla/" target="_blank" rel="noopener"><strong style="color: #00b451">Harsh Shukla</strong> </a>is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.</p>
<p><a href="https://mercomindia.com/author/harsh-shukla/">More articles from Harsh Shukla.</a></p>
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Adani Raises $700 Million in a Senior Debt Facility for its Power Transmission Projects

<p>Adani Transmission Ltd. (<a href="https://www.adanitransmission.com" target="_blank" rel="noopener noreferrer">ATL</a>), the transmission business arm of the Adani Group, has received two Letters of Intent (LoI) from REC Transmission Projects Company Limited (<a href="http://www.rectpcl.in/" target="_blank" rel="noopener noreferrer">RECTPCL</a>) to develop two transmission projects in the state of Gujarat.</p>
<p>The projects will be established on a build, own, operate, and maintain basis for 35 years.</p>
<p>As per the company statement, the projects are being developed, to establish transmission system connected to the long-term applications from Gujarat’s wind and solar energy zones in Raghanesda and Jamnagar.</p>
<p>The first project, ‘Lakadia Banaskantha Transco Limited,’ will be spread across approximately 360 circuit kilometers of 765 kV D/C line along with 765 kV bays at Lakadia and Banaskantha substations. The transmission line to be constructed in this project will be used for the evacuation of power generated by renewable developers to the Lakadia pooling station.</p>
<p>The second project, ‘Jam Khambaliya Transco Limited, ’ consists of nearly 40 circuit kilometers of 400 kV D/C line along with a 400 kV substation at Jam Khambaliya in Gujarat. The transmission line will be used to evacuate the power generated by renewable energy generators at Jam Khambaliya to the pooling station at Lakadia.</p>
<p>Speaking about the upcoming transmission projects, Anil Sardana, MD, and CEO of Adani Transmission Ltd. said, “Both the projects present substantial shareholder value creation as they are significantly valued accretive within a relatively short gestation period. It is also a great opportunity to continue our commitment to transmitting bulk green power within the country and catering to India&#8217;s climate goals.”</p>
<p>The projects have been awarded to ATL through a tariff-based competitive bidding process.</p>
<p>Earlier this month, ATL <a href="https://mercomindia.com/adani-acquires-transmission-project-gujarat/" target="_blank" rel="noopener noreferrer">signed</a> a share purchase agreement and completed the acquisition of the WRSS XXI Transco Limited (WRSSTL) from REC Transmission Projects Company. ATL had won this project through a tariff-based competitive bidding process and received the Letter of Intent (LoI) in July 2019.</p>
<p>In September 2019, ATL <a href="https://mercomindia.com/adani-acquires-transmission-project-rajasthan/" target="_blank" rel="noopener noreferrer">signed</a> a share purchase agreement and completed the acquisition of the special purpose vehicle of Bikaner-Khetri Transmission Limited (BKTL), incorporated by PFC Consulting Ltd. ATL had won this project through a tariff-based competitive bidding process and received the Letter of Intent (Lol) for the project in July 2019 too.</p>
<p>According to the company, ATL is the country’s largest private transmission company with a cumulative transmission network of more than 14,340 ckt km, out of which more than 11,470 ckt km is operational. This includes around 2,860 ckt km in various stages of construction.</p>
<p>Lack of transmission infrastructure has been a <a href="https://mercomindia.com/transmission-capacity-concern-solar-wind/" target="_blank" rel="noopener noreferrer">growing concern</a> for solar and wind companies in the country. In the past, Mercom has <a href="https://mercomindia.com/indias-transmission-infrastructure-struggles-wind-solar/" target="_blank" rel="noopener noreferrer">written</a> about how, with the expected surge in electricity demand over the coming decade and the rapid installation of solar and wind, India’s transmission and distribution system requires significant expansion.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
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