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					</table><p>Cement Corporation of India (<a href="https://www.cciltd.in/" target="_blank" rel="noopener">CCI</a>) has invited bids for installing and commissioning 1 MW of grid-connected solar power projects at its Bokajan factory in Assam.</p>
<p>The successful bidder will also have to take care of the project&#8217;s operation and maintenance for 25 years.</p>
<p>The project will be developed under the renewable energy service company (RESCO) model.</p>
<p>The last date to submit the bids is July 20, 2023. Bids will be opened the following day.</p>
<p>Bidders are not required to pay any earnest money deposit to participate in the tender.</p>
<p>The project must be completed within six months from the date of the award of the project.</p>
<p>The successful bidder should build and operate the solar project for a minimum period of 25 years and hand it over to CCI free of cost thereafter.</p>
<p>The bidder should design a suitable power evacuation system, including the design and construction of suitable transmission line/cabling infrastructure from the power project to the delivery point at the 11 kV CCI main substation.</p>
<p>CCI Bokajan will consume the power generated from the projects in its cement plant at a fixed tariff as per mutually agreed terms and conditions for 25 years from the project&#8217;s commercial operation date.</p>
<p>To be eligible, the bidder should have implemented at least two grid-connected solar power projects of 0.5 MW each or at least one grid-connected solar power project of 0.8 MW capacity during the last five years.</p>
<p>Further, the average annual financial turnover of bidders during the last three should be at least ₹60 million (~$731,808).</p>
<p>CCI will provide land only for the solar project installation, and in no case any lease for land demanded by the bidder will be applicable.</p>
<p>Recently, NTPC Vidyut Vyapar Nigam, a wholly-owned subsidiary of NTPC, <a href="https://www.mercomindia.com/ntpc-6-mw-solar-projects-telangana" target="_blank" rel="noopener">invited</a> bids to set up 6 MW of grid-connected solar power projects at CCI&#8217;s Tandur plant in Telangana.</p>
<p>Subscribe to Mercom&#8217;s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of the tender activity in real time.</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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Cement Corporation of India Invites Bids for 1 MW of Solar Projects in Assam

<p><a href="https://new.siemens.com/in/en.html?gclid=EAIaIQobChMIgeuFpvCO7wIVEBsrCh1pHgeIEAAYASAAEgL5KPD_BwE" target="_blank" rel="noopener">Siemens</a> has acquired an electrical equipment manufacturer <a href="https://cselectric.co.in/" target="_blank" rel="noopener">C&amp;S Electric</a> after receiving the Competition Commission of India&#8217;s approval.</p>
<p>The company has completed the acquisition of 99.22% equity shares of C&amp;S Electric from its promoters for ₹21 billion (~$285.27 million), Siemens said.</p>
<p>Siemens India focuses on distributed energy systems, power generation and distribution, infrastructure for buildings, and automation and digitalization of manufacturing industries.</p>
<p>C&amp;S Electric produces a range of electrical products like switchgear, power protection, and electrical distribution products. The company is also engaged in developing grid-connected solar power projects.</p>
<p>With this acquisition, the company aims to gain access to the Indian market and develop an export hub for supplying low-voltage products to global markets. Siemens envisions the acquisition to pave the way for the establishment of a design and manufacturing hub in India, supporting the export of electrification solutions to fast-developing markets around the world.</p>
<p>The Competition Commission of India <a href="https://mercomindia.com/siemens-india-acquire-cs-electric/" target="_blank" rel="noopener">approved</a> the acquisition in August 2020. The company signed an agreement to acquire C&amp;S Electric in January 2020 to strengthen its position as one of the leading suppliers of low-voltage power distribution and electrical installation technology.</p>
<p>The acquisition includes low-voltage switchgear components and panels, low voltage and minimum voltage busbars, and protection and metering devices businesses of C&amp;S Electric.</p>
<p>The existing promoters of C&amp;S Electric will retain other company businesses, including medium voltage switchgear and package substation, diesel generating sets, lighting, Etacom busbars, and engineering, procurement, and construction business.</p>
<p>In January 2021, Ola, one of India&#8217;s leading mobility platforms, <a href="https://mercomindia.com/ola-siemens-electric-scooter-manufacturing/" target="_blank" rel="noopener">partnered</a> with Siemens to build its upcoming electric vehicle manufacturing facility. The announcement came on the heels of Ola&#8217;s memorandum of understanding with the Tamil Nadu government to invest nearly ₹24 billion (~$329 million) towards building this facility.</p>
<p>Mercom had earlier <a href="https://mercomindia.com/siemens-acquires-kaco-solar-string/" target="_blank" rel="noopener">reported</a> that Siemens announced the acquisition of the string inverter business of the KACO new energy GmbH, a manufacturer of energy-related power electronics, for an undisclosed sum. The project development and EPC activities were not part of the acquisition. The transaction was expected to be completed in the first half of 2019, subject to regulatory approval.</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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Siemens Acquires C&S Electric for ₹21 Billion, Expands to Low-Voltage Power Market

<p><a href="https://masdar.ae/" target="_blank" rel="noopener noreferrer">Masdar</a> (or Abu Dhabi Future Energy Company) is set to acquire a minority stake in <a href="https://www.herofutureenergies.com/" target="_blank" rel="noopener noreferrer">Hero Future Energies Global Ltd</a>. (HFE UK), and Hero Future Energies Private Ltd (HFE India) according to a notification issued by the Competition Commission of India (CCI).</p>
<p>The stake will be acquired by way of subscription to equity shares in HFE UK and non-voting compulsorily convertible preference shares in HFE India.</p>
<p>This acquisition presents Masdar an opportunity to step into the Indian renewable energy market with HFE’s existing portfolio in the country.</p>
<p>According to Mercom’s <a href="https://mercomindia.com/product/india-solar-project-tracker/" target="_blank" rel="noopener noreferrer">India Solar Project Tracker</a>, HFE India currently has 600 MW of large-scale solar projects in operation, and about 840 MW of projects are in the development pipeline as of June 2019.</p>
<p>Masdar, a subsidiary of UAE-based Mubadala Investment Company, is a developer and operator of utility-scale renewable energy projects, community grid projects, and energy services consultancy.</p>
<p>HFE India, an independent power producer, is a subsidiary of Hero Future Energies Asia and is held by HFE UK. According to the company’s website, they currently operate in ten states in India with a portfolio of wind, solar PV (grid-connected), and rooftop projects.</p>
<p>This transaction was approved through the ‘green channel,’ a much quicker route for clearing certain categories of mergers and acquisitions, that was introduced by the CCI earlier this year.</p>
<p>Recently, Mercom <a href="https://mercomindia.com/masdar-wins-bid-100-mw-solar-project-uzbekistan/" target="_blank" rel="noopener noreferrer">reported</a> that Masdar won the bid to develop a 100 MW of utility-scale solar projects in Uzbekistan’s Navoi region.</p>
<p>In April, Hero Future had <a href="https://mercomindia.com/clean-solar-million-ifc-debt-financing/" target="_blank" rel="noopener noreferrer">announced</a> that its subsidiary, Clean Solar Power, was set to receive a debt financing of up to $43.3 million from International Financial Corporation, the financial arm of the World Bank. Clean Solar Power was to develop a 250 MW greenfield solar project located in Rajasthan’s Bhadla. The estimated cost of the project is $200 million.</p>
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<p>Image credit:Bloximages</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/nithin-thomas-prasad/" class="vcard author" rel="author"><span class="fn">Nithin Thomas</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/Nithin-2-1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Nithin Thomas,</strong> Staff reporter at Mercom India<br />
<a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" target="_blank" rel="noopener">More articles from Nithin Thomas.</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Nithin-2-1.jpg" width="102" height="102" /><a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" rel="noopener">Nithin Thomas</a> is a staff reporter at Mercom India. Previously with Reuters News, he has covered oil, metals and agricultural commodity markets across global markets. He has also covered refinery and pipeline explosions, oil and gas leaks, Atlantic region hurricane developments, and other natural disasters. Nithin holds a Masters Degree in Applied Economics from Christ University, Bangalore and a Bachelor&#8217;s Degree in Commerce from Loyola College, Chennai.<a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" rel="noopener">More articles from Nithin Thomas Prasad</a></div>
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Abu Dhabi’s Masdar Set to Acquire a Minority Stake in India’s Hero Future Energies

<p>The Competition Commission of India has announced that it has approved <a href="http://www.pfcindia.com/" target="_blank" rel="noopener">Power Finance Corporation’s</a> (PFC) acquisition of 52% stake in <a href="https://www.recindia.nic.in/" target="_blank" rel="noopener">Rural Electrification Corporation</a> (REC). In December 2018, the acquisition received an in-principle approval from the Cabinet Committee on Economic Affairs (CCEA).</p>
<p>Both REC and PFC are government-owned non-banking financial companies (NBFCs) that provide financing to power projects in India.</p>
<p>Last year, Mercom <a href="https://mercomindia.com/cabinet-approval-rec-takeover-pfc/" target="_blank" rel="noopener">reported</a> on the news of this acquisition stating that the deal intended  to achieve integration across the power chain, obtain better synergies, create economies of scale and have enhanced capability to support energy access and energy efficiency by improved capability to finance power sector. The government also hopes this will allow for cheaper fund raising with increase in bargaining power for the combined entity.</p>
<p>The government’s shareholding in PFC and REC has reduced by approximately five percent between the September and December quarters last year.</p>
<p>Mercom had reported in <a href="https://mercomindia.com/power-finance-corporation-shift-investments-towards-renewables/" target="_blank" rel="noopener">June</a> 2017, the PFC was is planning to shift its investments away from conventional energy and towards renewable energy projects, last-mile transmission and distribution projects in addition to making existing thermal units more energy efficient and refinancing of old projects.</p>
<p>In <a href="https://mercomindia.com/rural-electrification-corporation-raises-450-million-green-bonds/" target="_blank" rel="noopener">July 2017</a>, the Rural Electrification Corporation of India raised $450 million (~₹28.93 billion) through the sale of green bonds on the London Stock Exchange. In <a href="https://mercomindia.com/rec-global-medium-term-note-program/" target="_blank" rel="noopener">November</a> 2018, REC raised $700 million through initial foray of its $5 billion global medium-term-note (GMTN) program into the 144a market (US Securities and Exchange Act 1933). REC had launched its $5 billion GMTN program on the Global Securities Market (GSM) in <a href="https://mercomindia.com/rec-launches-globl-medium-term-note-program/" target="_blank" rel="noopener">October 2018</a>.</p>
<p>In <a href="https://mercomindia.com/power-minister-says-no-loans-to-discoms-in-loss/" target="_blank" rel="noopener">March 2018</a>, Power Minister R.K. Singh directed REC and PFC not to grant loans to distribution companies which were making heavy losses (above 15 per cent) unless they chalk out a plan to reduce them. The minister noted that many DISCOMs have been making heavy transmission and distribution (T&amp;D) losses and it may be difficult for them to repay the loans.</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/shaurya-bajaj/" class="vcard author" rel="author"><span class="fn">shaurya</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><span style="font-family: Calibri"><span style="color: #000000"><span>Shaurya is a staff reporter at MercomIndia.com with experience working in the Indian solar energy industry for the past four years in various roles. Prior to joining Mercom, Shaurya worked with a renewable energy developer and a consulting company. Shaurya holds a Bachelors Degree in Business Management from Lancaster University in the United Kingdom. </span></span></span></p>
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