DAILY DOSE: February 26, 2021
Posted on 02/26/2021
1. Democrats cannot include a US$ 15 per hour minimum wage in their US$ 1.9 trillion coronavirus relief package, a Senate official ruled Thursday. Democrats wlll have to remove it from bill if they want to pass it with just a simple majority vote. Costco plans to raise starting rate for hourly workers to US$ 16 per hour.
2. Netherlands’ SHV Energy N.V. and India’s National Investment and Infrastructure Fund (NIIF) are separately looking to buy a stake in Hyderabad-based Fourth Partner Energy (4PEL) for about US$ 150 million.
3. NASDAQ 100 drops 3.6% in the biggest drop since October 2020. Benchmark 10-year Treasury yields jumped to the highest in more than a year at over 1.6%.
India: Netherlands’ SHV, NIIF eye stake in Fourth Partner Energy
Photo: Pixabay
February 25, 2021
Netherlands’ SHV Energy and India’s quasi-sovereign wealth fund National Investment and Infrastructure Fund (NIIF) are separately looking to buy a stake in Hyderabad-based Fourth Partner Energy (4PEL) for about $150 million, two people aware of the development said.
Fourth Partner Energy focuses on the commercial and industrial (C&I) segment and has an operational portfolio of 400MW. It is building solar parks in Uttar Pradesh, Maharashtra and Tamil Nadu. Mint reported on 29 September 2020 about the company appointing Investec to raise about $150 million through a stake sale.
“Fourth Partner Energy is working towards aggressive growth and expansion targets in coming months. Fund-raising is an ongoing process. However, we will not be able to comment further on any particular development,” a company spokesperson said.