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					</table><p>Independent renewable power producer <a href="https://www.renew.com/" target="_blank" rel="noopener">ReNew</a> signed a 50:50 joint venture agreement with clean energy solutions provider <a href="https://www.gentari.com/" target="_blank" rel="noopener">Gentari</a> to develop solar, wind, and energy storage assets to achieve a clean power capacity target of 5 GW in India.</p>
<p>The partnership follows Gentari’s initial investment for a 49% equity stake in ReNew Power’s 403 MW  power project that the latter announced in May this year.</p>
<p>Gentari offers lower carbon solutions through renewable energy, hydrogen, and green mobility. The company aims to establish its reach across the electron value chain through collaboration to help customers achieve their net zero emission goals.</p>
<p>The partnership will help Gentari expand its renewable energy portfolio and support its target to build more than 30 GW of renewable energy capacity by 2030 globally.</p>
<p>Under the collaboration, ReNew Power will accelerate its strategies with long-term partners to bolster the power producer’s net-zero goals by 2040.</p>
<p>Founder, Chairman, and CEO of ReNew Sumant Sinha said, “We are delighted to welcome Gentari as a strategic partner in our goal of accelerating the clean energy transition. This partnership will be crucial in developing innovative solutions which will contribute significantly to India’s 2030 goal of achieving 500 GW of installed renewable energy capacity.”</p>
<p>CEO of Gentari Sushil Purohit said, &#8220;We are elated to embark on this strategic collaboration with ReNew, as it holds tremendous potential for accelerating the development of renewable assets in India. With our aligned vision and extensive expertise, we aim to drive rapid progress in expanding India&#8217;s renewable energy capacity and fostering sustainable growth.”</p>
<p>Earlier this month, ReNew Power’s special purpose vehicle, ReNew Dinkar Urja got <a href="https://www.mercomindia.com/renew-powers-overhead-transmission-lines-rajasthan-approved" target="_blank" rel="noopener">approval</a> from the Ministry of Power to set up overhead transmission lines for a 200 MW solar power project in Rajasthan’s Bikaner. The approval has been granted for 25 years.</p>
<p>ReNew <a href="https://www.mercomindia.com/renew-swings-profit-q4-fy23" target="_blank" rel="noopener">recorded</a> a net profit of ₹74 million (~$1 million) in the fourth quarter of the financial year  2023, compared to a net loss of ₹3.5 billion (~$43 million) 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/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</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/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</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/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
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ReNew, Gentari Enter JV to Develop 5 GW of Renewable Assets in India


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					</table><p>Europe-based independent power producer <a href="https://www.encavis.com/en/" target="_blank" rel="noopener">Encavis AG’s</a> fund Encavis Asset Management completed the investment phase of the Encavis Infrastructure Fund II (EIF II) with a total value of €1.13 billion (~$1.19 billion).</p>
<p>EIF II is a pan-European renewable portfolio created in 2017. Currently, it is one of the largest clean energy funds in Germany, with investments in ~680 MW of capacity.</p>
<p>EIF II recently acquired two solar parks in Germany with a total capacity of 45 MW in the Rhineland-Palatinate. While one solar park will be connected to the power grid this year, the second park will likely be connected in the first half of next year.</p>
<p>Encavis said the two parks together would help reduce 327,500 tons of carbon emissions annually.</p>
<p>With the latest acquisitions, EIF II’s diverse portfolio now includes 22 wind and 21 solar farms in Germany, France, the Netherlands, Spain, and Finland.</p>
<p>The total installed renewable capacity is currently over 3.4 GW, helping mitigate more than 1.4 million tonnes of carbon emissions annually.</p>
<p>EIF II is an alternative investment fund created for banks, distributed exclusively by investment bank <a href="https://www.bayernlb.com/internet/en/blb/resp/index.jsp" target="_blank" rel="noopener">BayernLB</a>.</p>
<p>Encavis Asset Management AG is a wholly owned subsidiary of MDAX-listed Encavis AG.</p>
<p>Spokesman of the Management Board of Encavis Asset Management AG, Karsten Mieth, said, &#8220;We will continue to leverage our market-leading expertise in the renewable energy sector to rapidly advance the energy transition. To this end, two further institutional funds are currently raising money: EIF IV, which -as the successor fund of the EIF II- is targeting banks, and the EIF V, which is designed for insurance companies and pension funds.&#8221;</p>
<p>Senior Director of Alternative Investments at BayernLB, Herbert Schädler, observed, &#8220;The focus of EIF II on the regulatory needs of the (savings) banks and on exclusively one asset class (Renewable Energies), which provides investors with maximum transparency, were the basis for the extraordinarily strong investor demand. The target volume was clearly exceeded and finally reached 480 million euros of equity.”</p>
<p>Encavis has been actively acquiring clean energy projects to expand its renewable portfolio. Last month, the company <a href="https://mercomindia.com/project-finance-brief-sunwin-energy-solar-project-portfolio/" target="_blank" rel="noopener">acquired</a> a 55 MW ready-to-build solar project in Spain from Hive Energy, a UK-based renewable energy developer.</p>
<p>In October this year, the power producer <a href="https://mercomindia.com/project-finance-brief-pivot-energy-raises/" target="_blank" rel="noopener">completed</a> non-recourse project financing of €32 million (~$33.79 million) for the Danish solar parks Svinningegården in the north-western part of Zealand with a generation capacity of 34 MW and Rødby Fjord on Lolland in south-western part Zealand.</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/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</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/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</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/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
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Power Producer Encavis AG’s Fund Closes Investment Phase with €1.13 Billion

<p>Tata Power Renewable Energy Limited (<a href="https://www.tata.com/business/tata-power" target="_blank" rel="noopener noreferrer">TPREL</a>), a subsidiary of Tata Power, has commissioned a 150 MW solar power project in Pokharan, Rajasthan. With this, the overall operating renewable capacity of TPREL now stands at 2,628 MW in India.</p>
<p>In May 2018, Maharashtra State Electricity Distribution Company Limited (MSEDCL) had <a href="https://mercomindia.com/l1-tariff-1gw-solar-auction-msedcl/" target="_blank" rel="noopener noreferrer">announced</a> that TPREL won the capacity at a tariff of ₹2.72 (~$0.03823)/ kWh. The sale of power from this solar project is for 25 years under the power purchase agreement (PPA) signed with the MSEDCL.</p>
<p>MSEDCL’s 1 GW grid-connected solar PV tender was <a href="https://mercomindia.com/msedcl-1gw-tender-oversubscribed/" target="_blank" rel="noopener noreferrer">oversubscribed</a> by 450 MW. MSEDCL had retendered the projects to meet its Renewable Purchase Obligation (RPO) in <a href="https://mercomindia.com/msedcl-retenders-1-gw-solar-meet-rpo/" target="_blank" rel="noopener noreferrer">April 2018</a>. It had initially tendered the projects in <a href="https://mercomindia.com/msedcl-tenders-solar-meet-rpo/" target="_blank" rel="noopener noreferrer">December 2017</a>. MSEDCL had set ₹3 (~$0.047)/kWh as the upper tariff ceiling for this tender.</p>
<p>The project is connected at 220 kV to Power Grid Corporation of India Limited’s (PGCIL) Bhadla substation making it the company&#8217;s first ISTS (interstate transmission system (ISTS) solar project.</p>
<p><em> </em><em>According to the company statement, </em>TPREL<em> is currently developing 500 MW of renewable capacity across the country including 100 MW in Uttar Pradesh, 100 MW at Raghanesda solar park and 250 MW at Dholera solar park in the state of Gujarat. </em></p>
<p>In May 2019, <a href="https://www.tatapower.com/">Tata Power</a> had announced its annual results for FY 2018-19. The company’s income statement showed that its consolidated FY19 revenue was up 12% at ₹294.93 billion (~$4.25 billion) as compared to ₹264.3 billion (~$3.81 billion) last year. According to Tata Power, its renewable energy business continues to grow with Q4 FY19 EBITDA increasing by 34% on a quarter on quarter (QoQ) basis to ₹6.06 billion (~$87.4 million) with higher operational revenues and engineering procurement and construction (EPC) volume. The company stated that its EPC order book stood at ₹16 billion (~$231 million) for the year, out of which solar EPC accounted for around 13.6 billion (~$196 million).</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/anjana/" class="vcard author" rel="author"><span class="fn">Anjana Parikh</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2019/06/Anjana2.png" width="112" height="121" />Anjana is a news editor at Mercom India. Before joining Mercom, she held roles of senior editor, district correspondent, and sub-editor for The Times of India, Biospectrum and The Sunday Guardian. Before that, she worked at the Deccan Herald and the Asianlite as chief sub-editor and news editor. She has also contributed to The Quint, Hindustan Times, The New Indian Express, Reader’s Digest (UK edition), IndiaSe (Singapore-based magazine) and Asiaville. Anjana holds a Master’s degree in Geography from North Bengal University, and a diploma in mass communication and journalism from Guru Ghasidas University, Bhopal.</p>
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Tata Power Commissions a 150 MW Solar Project in Rajasthan

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