India Briefing: Greenko buys Orange Renewables, Minister update, Distributed renewables data

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Greenko acquires Orange Renewables

4 June: Indian developer Greenko Energy Holdings has entered into a definitive purchase agreement to acquire Orange Renewables Singapore for a total enterprise value of approximately US$922 million. Orange has 907MW of solar and wind assets and pipeline of over 500MW.

The deal will add to Greenko’s existing portfolio of over 3GW of operational capacity, taking its overall operational capacity to about 4GW of wind, solar and hydro. Greenko’s overall under-construction capacity in addition to the 4GW of operational capacity is over 7GW.

“Indian energy markets are transitioning from deficit markets to demand driven contracts requiring reliable, flexible and cost competitive energy. Greenko is focussing on building integrated renewable energy assets with storage to address these markets by competing with conventional energy assets like thermal in quality, quantity and cost,” said Anil Chalamalasetty, managing director and chief executive, Greenko.

Energy minister praises achievements

5 June: Indian power minister R.K. Singh has said that more US$42 billion investment was made in renewable energy in India during the last four years and the country is “well on track” to achieving the 175GW target of installed renewable energy capacity.

Singh even said that trends suggest the target will not only be achieved but exceeded.

He also said that 41 Solar Parks in 21 States with an aggregate capacity of over 26GW have been sanctioned.

CLEAN and GOGLA jointly launch India DRE Data Collection

3 May: Clean Energy Access Network (CLEAN) and Global Off-Grid Lighting Association (GOGLA) have jointly launched the India Decentralized Renewable Energy (DRE) Data Collection, covering off-grid solar, solar pumps, mini and micro-grids and improved cookstoves.

The collected data will feed into CLEAN’s ‘State of the Sector Report – 2017/18’.

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