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Wind & solar: Adani, ABC, Amp winners in hybrid auctions
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JA Solar liefert Solarmodule für die größte Solaranlage von ganz Ungarn
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India Grid Trust signed securities purchase agreement on 18 December 2020 for acquisition of 100% in FRV Andhra Pradesh Solar Farm-I and FRV India Solar Park II from FRV Solar Holdings XI.The acquisition is in line with the IndiGrid investment strategy as provided in the trust deed with a focus to ensure stable distribution to unit holders by owning assets with long term contracts.
The acquisition was struck at an enterprise value of around Rs 660 crore and its completion would depend upon receipt of relevant approvals and completion of contractual obligations.
Incorporated on 14 July 2016, FRV I operates 50 MW (AC) solar power plant in Ananthapuramu Solar Park in Andhra Pradesh. FRV I entered into power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) on 5 October 2016 for tenor of 25 years. The asset was commissioned in July 2018. During FY 2019-20, FRV I had total revenue of around Rs 47 crore.
Equity indices came off the day s low and traded near the flat line in morning trade. The Nifty took support near 13,700 level and bounced back. Negative global stock markets put pressure on domestic indices.
At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 40.34 or 0.09% at 47,000.01. The Nifty 50 index was up 3.7 points or 0.03% at 13,764.95.
In broader market, the S&P BSE Mid-Cap index was down 0.18% while the S&P BSE Small-Cap index was up 0.27%.
The market breadth was positive. On the BSE, 1327 shares rose and 1206 shares fell. A total of 118 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 7,67,94,181 with 16,92,722 deaths. India reported 3,03,639 active cases of COVID-19 infection and 145,810 deaths while 96,06,111 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
KKR s India InvIT buys FRV Solar assets in AP
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India Grid Trust has signed a purchase agreement for acquisition of 100% in FRV Andhra Pradesh Solar Farm-I & FRV India Solar Park II – from FRV Solar Holdings, company said on Saturday.
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India Grid Trust is in advanced discussions to acquire India portfolio of Fotowatio Renewable Ventures (FRV), ET first reported in September.
Mumbai: India Grid Trust (IndiGrid), the KKR-owned first Infrastructure Investment Trust (InvIT) in the Indian power sector, has acquired India portfolio of Fotowatio Renewable Ventures (FRV), the Madrid-based developer, in a deal worth Rs.660 crore.
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