Deals this week: Carmanah Solar Power Corporation, TAQA, and India Power Corporation

6 April 2017 (Last Updated April 6th, 2017 18:30)

Carmanah Solar Power Corporation has announced the sale of its solarpower engineering, procurement, and construction business for $2m.

Carmanah Solar Power Corporation has announced the sale of its solarpower engineering, procurement, and construction business for $2m.

The company will permanently close its solarpower EPC business upon completion of four construction projects before the end of 2017.

CSPC is a Canada-based renewable and energy-efficient technology developer.

Abu Dhabi National Energy Company PJSC (TAQA) has announced plans to issue formosa bonds through a public offering.

The move is expected to raise funds to repay loans, which are due in October 2017 and January 2018.

Abu Dhabi National Energy Company is a UAE-based energy and water company.

India Power Corporation (formerly DPSC) has announced its intention to raise approximately Rs13.38bn ($206.17m) in gross proceeds.

The offering involves the issue of 326,316,563 shares held by Power Trust, priced at Rs41 ($0.63) a share.

"Abu Dhabi National Energy Company PJSC (TAQA) has announced plans to issue formosa bonds through a public offering."

IPC will not be entitled to receive any proceeds.

Plug Power announced its plan to issue approximately 54,347,826 shares of common stock at a price of USD1.38 a share and raise gross proceeds of up to $75m.

The net proceeds are primarily intended for general corporate purposes.

Plug power is a US-based company involved in the development of alternative energy technology.

Vatsaa Energy has announced a partnership with Mutiara Etnik Sdn Bhd for developing floating solarpower plant projects with installed capacity of more than 10MW in Malaysia.

Vatsaa Energy is an India-based renewable energy company, while MESB is a Malaysia-based firm specialising in Dry Bulk Material Handling.

GMR Energy (GEL) has formed a joint venture with Malaysia’s TNB Repair and Maintenance to work together and provide operation and maintenance services for power plants in India.

The joint venture company will also provide performance improvement, testing, diagnostic, repair, and refurmishment services.