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APGL is an independent power producer, a developer and an operator of utility and commercial scale solar PV power plants
Rating on Azure Power Solar s notes unaffected by sale of rooftop projects: Fitch ANI | Updated: Apr 12, 2021 15:43 IST
Hong Kong, Apr 12 (ANI): The rating on Azure Power Solar Energy Pvt Ltd s (APSEPL )s 350.1 million dollar 5.65 per cent senior notes due 2024 is not affected by the sale of Azure Power Global Ltd s (APGL s) rooftop solar portfolio, Fitch Ratings said on Monday.
Fitch does not expect the transaction to trigger a change of control provision in indenture of notes.
On April 5, APSEPL s ultimate parent APGL announced that its 97.5 per cent-owned subsidiary Azure Power India (API) has signed a binding agreement to sell its non-core rooftop solar portfolio to Radiance Renewables Pvt Ltd for Rs 537 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
Bearish Bets: 2 Stocks You Really Should Consider Shorting This Week These NYSE names are displaying both quantitative and technical deterioration. Stocks quotes in this article: AZRE, EFX
Each week Trifecta Stocks identifies names that look bearish and may present interesting investing opportunities on the short side.
Using technical analysis of the charts of those stocks, and, when appropriate, recent actions and grades from TheStreet s Quant Ratings, we zero in on five names.
While we will not be weighing in with fundamental analysis, we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names.
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