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Radiance Renewables signs JV with InfraCo Asia

Budget 2024: Green energy sector pitches for GST cut, easier FDI norms

Union Budget 2024: Key expectations include higher capital expenditure in renewable energy, measures to promote indigenous development, reduction of GST rates for hydrogen and electrolyser manufacturing, and a conducive environment for foreign investors.

Azure Power sells rooftop solar business to Radiance Renewables

Azure Power Sells Non-core Solar Rooftop Portfolio to Radiance Renewables; Transaction Expected to Improve Overall Cost Structure and be Value Accretive

Share this article Share this article NEW DELHI, April 5, 2021 /PRNewswire/ Azure Power Global Limited, a leading solar power producer in India, announced it has signed a binding agreement to sell its non-core solar rooftop portfolio to Radiance Renewables Pvt. Ltd. (Radiance), one of India s leading providers of competitive renewable energy solutions for commercial, industrial and residential customers and a 100% subsidiary of the Green Growth Equity Fund ( GGEF ), India s leading Climate fund, managed by EverSource Capital,  for a total consideration of INR 5,365 million (US$ 73.5 million 1) subject to purchase price adjustments.  The rooftop portfolio generated INR 331 million (US$ 4.5 million 1) in EBITDA for the 12 months ending December 30, 2020. After excluding rooftop revenues, our new FY 22 revenue guidance is INR 17,200 – 18,200 million (or US$ 236 - $249 million

Radiance Renewables acquires solar rooftop assets of Azure Power for ₹536.5 crore

April 05, 2021 The deal covers 152.5 MW of assets Mumbai-based Radiance Renewables Pvt Ltd, a wholly-owned subsidiary of Green Growth Equity Fund (GGEF), has entered into an agreement to acquire Azure Power Global Ltd’s solar rooftop assets for ₹536.5 crore. The assets are based in India, while the deal covers 152.5 MW of assets including 8.1 MW that is under construction and 18.5 MW that was recently commissioned. Following this acquisition, Radiance will be able service high-quality customers such as Indian Railways, Delhi Metro Rail Corporation and Delhi Jal Board amongst others where 99 per cent of power purchase agreement are for 25 years. “This strategic acquisition will position Radiance as a significant pan-India player in the commercial, industrial and institutional segments with exposure to long-term power purchase agreements with quality customers based on net metering in the build-out of its distributed generation platform. This transaction allows Radiance to b