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Sterlite Power acquires 28.4pc stake from SCPE

-  Company acquires stake from Standard Chartered Private Equity for `1,010-cr.
-  Highest absolute return in the Power and Utilities sector in India.
-  Standard Chartered set to make 2x returns in a short span of 3.5 years.

Sterlite Power has acquired the 28.4 per cent stake in its transmission infrastructure business from Standard Chartered Private Equity (SCPE). With this acquisition, Sterlite Power holds 100 per cent stake in the business.

Sterlite Power had attracted an investment of `500-cr in 2014 from SCPE, which was the first private foreign investment in the Indian transmission sector. Over the last three years, Sterlite Power has grown its portfolio from three projects in India to fifteen projects across the country and Brazil, and now has a footprint in 26 states across two continents.
“With this acquisition, we reiterate our excitement about the unprecedented growth opportunity in the power transmission sector. Our track record and superior execution capabilities position us well to capitalize on this opportunity,” said Pratik Agarwal, Group CEO, Sterlite Power.


NEWS ----------SEPTEMBER 2018 Issue
Cygni Energy raises $6.4 Mn to power growth & expansion

Hyderabad-based Cygni Energy Pvt. Ltd., an innovative Solar-DC solutions start-up, has announced that it has raised funds of $6.4-mn through a combination of equity and debt. The equity funding is led by Endiya Partners, a leading early stage venture capital firm that invests in product start-ups, and the debt by IndusInd B   READ MORE...
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Cosmos Solutions receives US$950-mn for new eco-friendly energy product
Cosmos Solutions Pvt. Ltd.’s patented new technology to generate more power from engines using micro controllers received a major green signal with a private equity of US$950-million from Linetrust Offshore Ltd. The Head of private equity of Linetrust ASEAN, Dr. Sailesh Lachu Hiranandani, who has spared no effort in promoting the development of renewable energy, assured Cosmos   READ MORE...
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Black & Veatch bags IEDCL’s 41MW hybrid project
Black & Veatch has been selected to provide engineering expertise to IL&FS Energy Development Company Limited’s (IEDCL) 41 megawatt (MW) solar photovoltaic (PV), wind, and battery storage hybrid project in India. Core components of the project are 25 MW solar PV and 16 MW wind power generation systems, coupled to an optimised energy storage system.

Technical services for the   READ MORE...