Solar Park

Embassy Office Parks REIT has raised Rs 1,000 crore through issue of Non-convertible Debentures (NCDs) to repay its outstanding loan. In a regulatory filing on Tuesday, Embassy REIT said it has raised Rs 1,000 crore through five-year coupon-bearing debt at an interest rate of 7.73 per cent. Embassy REIT will utilise the proceeds from this debt raise to repay its certain existing debt. Through this refinance, Embassy REIT will be able to secure around 70 basis points of interest savings from the existing rate. Ritwik Bhattacharjee, Interim Chief Executive Officer, Embassy REIT, said, the company has raised this amount at a highly competitive rate. "Raising a 5-year NCD allows us to optimally stagger our liability profile and ensure we continue to finance our growth and the rollover of debt maturities prudently," he said. Embassy REIT is India's first publicly listed Real Estate Investment Trust. Embassy REIT owns and operates a 51.1 million square feet portfolio of 14 office park

Solar panel maker Waaree Energies on Friday filed fresh preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating to Rs 3,000 crore and Offer For Sale (OFS) of 32 lakh equity shares by a promoter and existing shareholders, according to the draft red herring prospectus (DRHP). Those selling shares in the OFS include promoter Waaree Sustainable Finance Private Ltd and shareholders -- Chandurkar Investments Private Ltd and Samir Surendra Shah. Proceeds from the fresh issue will be used for setting up the 6GW (gigawatt) of Ingot Wafer, Solar Cell and Solar PV module manufacturing facility in Odisha. Besides, a portion will be used for general corporate purposes. Waaree Energies, one of the major players in the solar energy industry in India, is focused on PV module manufacturing with an aggregate installed capacity of 12 GW as of June 30, 2023. The Mumbai-based firm has a

MP govt cancels PSA signed after record low bids in two solar parks

As per the agreement, RSDCL will develop infrastructure in the solar park and NTPC will develop the solar projects

The move comes at a time when IL&FS Energy has joined hands with SB Energy

The solar park generated 600 MW power as of January 2018 while an additional 1,400 MW is expected to be generated by Dec

To push low solar power costs, MNRE asked states to study Rewa model, redesign their solar tenders

It has sought 1,250 hectares of contiguous, barren government land on long-term lease for 35 years

Odisha govt plans to develop 1,000 Mw solar park over 5,000 acres of land on a PPP model

Rattan India quotes lowest bid of Rs 4.78/unit, sector majors to set up 500 MW

State government starts tendering process; contracts for three units to be awarded by June, via reverse bidding