NTPC to raise Rs 40 billion via NCDs
NTPC Limited is planning to raise Rs 40 billion through the issuance of unsecured, non-convertible debentures (NCDs). The issuance will be done via private placement at a coupon rate of 6.84 per cent per annum for a tenor of 10 years, set to mature on May 9, 2035. The funds raised will be used to meet capital expenditure requirements, refinance existing loans and for other general corporate purposes.
ReNew Power to invest Rs 220 billion to develop clean energy project in Andhra Pradesh
ReNew Power is set to invest Rs 220 billion to develop a renewable energy project in Anantapur, Andhra Pradesh. The project will be executed in two phases and includes an 1,800 MW solar power plant, a 1,000 MW wind power project and a 2 GWh battery energy storage system (BESS). In the first phase, ReNew will install a 587 MW solar power plant, a 250.8 MW wind power project and a 415 MWh BESS. The remaining capacity will be developed in subsequent phases.
Adani Power plans Rs 1.2 trillion investment to expand capacity to 30.67 GW by 2030
Reportedly, Adani Power Limited is set to undertake a capital expenditure plan of Rs 1.2 trillion over the next six years to expand its power generation capacity from 17.55 GW to 30.67 GW by 2030. This marks the largest planned capacity expansion by a private sector power company in India. The company has already placed advance orders for 11.2 GW of ultra-supercritical boilers, turbines and generators to ensure timely execution and secure its equipment supply chain.
Assam cabinet approves Rs 77.3 billion thermal power policy initiatives
The Assam government has approved the Assam Thermal Power Generation Product Promotion Policy 2025, with investment proposals worth Rs 77.3 billion, aimed at strengthening the state’s thermal power infrastructure. The key provisions include free land allocation, water and road infrastructure support, and power offtake through tenders.
Avaada Energy plans to raise Rs 40 billion through IPO
Avaada Energy is reportedly planning to raise Rs 40-50 billion for expansion through an initial public offering (IPO). A major portion of the funds will be allocated towards the development of a 5 GW integrated solar module and cell manufacturing facility in Greater Noida, Uttar Pradesh. Avaada has begun engaging with top investment banks and law firms for the IPO, which is currently in the early stages of planning.
NHPC raises Rs 19.45 billion via NCT
NHPC Limited has raised Rs 19.45 billion through the issuance of unsecured, redeemable, non-convertible, non-cumulative and taxable (NCT) 6.86 per cent AF series bonds 2040 on a private placement basis. The bonds have a tenure of 15 years, with the allotment date being May 6, 2025 and maturity date being May 6, 2040. The issue is proposed to be listed on the wholesale debt market segment of Bombay Stock Exchange and National Stock Exchange.
ReNew secures $100 million investment from BII to scale solar manufacturing
ReNew Energy Global Plc has secured an investment of $100 million from British International Investment (BII), the UK’s development finance institution, to accelerate the growth of its solar manufacturing business in India. The investment will be made in ReNew Photovoltaics Private Limited, the company’s dedicated solar manufacturing arm. BII will acquire a minority stake in ReNew Photovoltaics through this transaction, which remains subject to customary regulatory and lender approvals.
GE Vernova to invest Rs 1.4 billion to expand grid equipment manufacturing in India
GE Vernova is planning to invest approximately Rs 1.4 billion to expand its electrification manufacturing and engineering footprint in India. The investment will be undertaken by GE Vernova T&D India Limited, the listed entity of GE Vernova’s electrification business in the country. It includes the development of a new manufacturing line at its existing facility in Pallavaram, Chennai, and the establishment of a new facility in Noida.
BluPine Energy secures financial closure from Standard Chartered for 100 MW solar project in Gujarat
BluPine Energy has secured the financial closure for its 100 MW solar power project in Tharad, Banaskantha district of Gujarat under the Gujarat Urja Vikas Nigam Limited tender. The company has secured debt financing worth Rs 3.76 billion from Standard Chartered Bank, which acted as the sole mandated lead arranger, lender, green loan coordinator and account bank. The project is being developed through BluPine’s wholly owned subsidiary, Solarcraft Power India 5 Private Limited.
ADB commits $10 billion for ASEAN transnational power grid (Overseas)
The Asian Development Bank (ADB) has planned to allocate up to $10 billion towards the Association of Southeast Asian Nations (ASEAN) power grid initiative to expedite cross-border connections and national grid projects. ADB has also programmed an additional $27 billion in financing over the next three years to support the region’s energy transition and clean energy investments in order to boost energy security, enable power trade and drive sustainable development across the region.