JUNE 20239TOP STORYINOX WIND BAGS 150 MW REPEAT ORDER FROM NTPC RENEWABLEJSW GROUP INTENDS TO SELL A SMALL SHARE IN NEO ENERGY FOR $500 MA150 MW wind power project has been ordered by NTPC Renewable Energy, a fully owned subsidiary of NTPC Green Energy, the company's renewable energy business vertical, from leading wind energy solutions provider Inox Wind. Gujarat will serve as the location for the project's execution. With this deal, Inox Wind has now received 550 megawatts (MW) from NTPC, according to a business statement published with stock exchanges.Inox Wind's CEO, Kailash Tarachandani, thanked NTPC REL for choosing Inox Wind as the recipient of this 150 MW project. He also underlined the company's desire to develop a long-term cooperation with NTPC, acting as their dependable supplier and helping them achieve their lofty renewable energy targets.To achieve 175 GW by 2022 and 450 GW by 2030, India has set lofty goals for renewable energy. The government has started programmes like the Atma Nirbhar Bharat Abhiyan to assist these goals. Inox Wind claimed that given this favourable environment, it was well-positioned to prosper and greatly advance India's aspirations for renewable energy. JSW Group is trying to generate up to $500 million by selling a minority position in JSW Neo Energy, a listed JSW Energy subsidiary. One person, who asked to remain anonymous since the conversations are confidential, stated that the steel and energy group had chosen Standard Chartered Bank to serve as the sell-side advisor for the transaction. One of the prospective bidders is TPG's The Rise Fund, which makes investments in sustainable energy businesses. The fund has previously made a $1 billion investment in Tata Motors' electric vehicle division.People cited above stated that the fund-raising proceeds would be used to increase the company's use of renewable energy. Requests for comment were refused by a JSW Energy spokesman. To the best of our knowledge, Standard Chartered and TPG have not responded to email inquiries submitted on Monday. At a time when energy companies nationwide are looking for capital for their green energy enterprises, the proposed fund raise is timely.The Aditya Birla Group is trying to raise $400 million by selling up to 49 percent of its investment in the group's renewable energy sector. Additionally, Standard Chartered has been hired as its investment banker. The board of Adani Green Energy is anticipated to meet shortly to discuss a proposal to generate between $750 million and $1 billion through a stake sale.
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