Category: Asia Pacific Deal Watch

Indian KEC acquires Swedish EPC company Linjemontage

Indian engineering, procurement and construction (EPC) company, Kalpataru Power Transmission Limited (KPTL), has completed the acquisition of 15 per cent stake in Sweden-based EPC company Linjemontage i Grastrop AB for USD11.5 million.

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RECPDCL transfers Rajgarh Transmission to GR Infraprojects India

Indian REC Power Development and Consultancy Limited (RECPDCL)—one of the bid process coordinators for the award of transmission projects via the competitive bidding mode, has handed over Rajgarh Transmission Limited (RTL) to engineering and construction firm GR Infraprojects Limited.

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POWERGRID acquires MTL for 400 kV project in Uttar Pradesh, India

Indian state-owned Power Grid Corporation of India (POWERGRID) has acquired Mohanlalganj Transmission Limited (MTL), the project special purpose vehicle (SPV) from PFC Consulting Limited (PFCCL) to establish an intra-state transmission system (ISTS) in Uttar Pradesh on a build, own, operate and maintain (BOOM) basis.

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Abu Dhabi-based IHC completes investment in Indian Adani Group

International Holding Company PJSC (IHC), the Abu Dhabi-based conglomerate, has completed its USD2 billion (INR154 billion) investment transaction with three subsidiaries of India’s Adani Group—Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL) and Adani Enterprises Limited (AEL).

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Indian POWERGRID acquires Khetri–Narela Transmission

India’s state-owned Power Grid Corporation of India Limited (POWERGRID) has acquired 100 per cent equity of Khetri–Narela Transmission Limited (KNTL) for INR22.50 million, including 10,000 equity shares at par at INR10 each along with assets and liabilities of the company, from the bid processor PFC Consulting Limited (PFCCL).

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Abu Dhabi-based IHC to invest INR39 billion in India’s Adani Transmission

International Holding Company PJSC (IHC), the Abu Dhabi-based conglomerate, will invest USD2 billion (INR154 billion) as primary capital in three subsidiaries of India’s Adani Group—Adani Green Energy Limited (AGEL), Adani Transmission Limited (ATL) and Adani Enterprises Limited (AEL), through the preferential allotment route.

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South Korean Hyosung signs MoU with Invinity to supply BESS

US-based vanadium flow battery supplier Invinity Energy Systems has signed a non-binding memorandum of understanding (MoU) with Hyosung Heavy Industries, the power and industrial systems arm of South Korean conglomerate Hyosung Corporation, to commercialise its energy storage batteries in the country and elsewhere.

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Resurgent Power Ventures acquires NRSS-XXXVI in India

Resurgent Power Ventures Pte Limited, a Singapore-based joint venture (JV) between ICICI Bank, Power Platform Limited, Kuwait Investment Authority and Tata Power, has completed the acquisition of and settled the debt of North Region Strengthening Scheme XXXVI Transmission Limited (NRSS-XXXVI), a troubled power transmission project spread across the three Indian states of Haryana, Rajasthan and Uttarakhand.

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Indian POWERGRID transfers 26 per cent equity in PVTL to PGInvIT

India’s largest grid network developer Power Grid Corporation of India (POWERGRID) has transferred the remaining of its shareholdings in POWERGRID Vizag Transmission Limited (PVTL) to POWERGRID Infrastructure Investment Trust (PGInvIT) after the adjustment of the dividend received by POWERGRID from PVTL.

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Indian Tata Power’s Singapore JV wins bid to acquire SEUPTCL

Indian private power company Tata Power’s Singapore-based joint venture (JV) Resurgent Power Ventures has won the bid to acquire the stressed asset of South East UP Power Transmission Company Limited (SEUPTCL) through the Insolvency and Bankruptcy Code resolution process (IBC), a bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy.

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Sterlite Power secures fund for NBTL project

Sterlite Power Power Transmission (SPTL) has announced that Tata Cleantech Capital has agreed to fund the Nangalbibra–Bongaigaon Transmission Limited (NBTL) project with INR440 million loan financing.

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