Deals this week: VivoPower (USA) Development, National Aluminium Company Limited, Greensolver, Unisun Energy Group
VivoPower (USA) Development has entered a joint venture agreement with Innovative Solar Systems to develop projects with a combined capacity of 1.8GW throughout the US.
Based in the US, Innovative Solar Systems is engaged in the development of utility-scale, ground-mounted solar farms. The company will develop the solarpower projects, while VivoPower (USA) Development will purchase each project upon completion.
VivoPower International’s wholly-owned subsidiary, VivoPower (USA) Development proposes to use a build, transfer, and operate (BTO) model for the project development.
National Aluminium Company Limited (NALCO) has entered an agreement with NTPC to invest Rs140bn ($2.17bn) in construction and development of the 2.4GW Gajamara coal-fired power plant in Dhenkanal, Odisha.
The power plant is expected to be set up in two phases, with the first expected to have an installed capacity of 1.4GW.
NALCO is a manufacturer of aluminium products, while NTPC is a power generation company. Both the companies involved in the transaction are based in India.
Greensolver has announced formation of a joint venture (JV) known as Greensolver UK with Infinergy to provide technical and commercial management services to renewable energy asset owners in the UK.
Based in France, Greensolver provides renewable energy services, while UK-based Infinergy is engaged in the development of windfarms.
The two companies aim to provide better technical and commercial management services to their customers in the wind and solarfarm industry in the UK through the agreement.
Unisun Energy Group has announced a private placement of shares to Engie, a company based in France.
Engie will hold a 30% stake in Unisun Energy Group upon completion of the transaction. Proceeds from the offering will enable Unisun Energy to focus on its strategy to develop approximately 4GW of solar projects by 2020 in China.
Unisun Energy Group is a solarpower generation company based in China.
Jindal Power has announced its plan to sell its stake in Etalin Hydro Electric Power Company, which is developing the 3,097MW run-of-the-river hydropower project on rivers Dri and Tangon in Arunachal Pradesh, India.
A subsidiary of Jindal Steel and Power, Jindal Power holds a 74% stake, while Hydro Power Development Corporation of Arunachal Pradesh holds the remaining 26%.
Estimated to cost Rs200bn ($3.09bn), the power plant is proposed to be funded either on 70:30 or 80:20 debt-equity ratio.