ACME Solar, one of the largest solar power companies in India, shook up the sector three years ago. It bagged a contract from state-run Solar Energy Corporation of India (SECIL) to set up a 200 megawatt (MW) plant in Rajasthan with a bid of ₹2.44 per unit. This was the lowest tariff quoted for solar power in India. It triggered a price war and steeply reduced solar energy prices in India.
In the first week of May, ACME decided to terminate the contract by invoking the “force majeure” clause citing coronavirus. The reasons it gave included over 15 months delay in land acquisition, impact of coronavirus outbreak on suppliers of solar cells and modules from China and delay in setting up of transmission networks. It is reportedly trying to monetise some of its projects.
In another development a month ago, Shapoorji Pallonji Infrastructure (SP Infra) sold its five operational solar energy assets, including 169 MW in Maharashtra and 148 MW in Tamil Nadu, to global investment firm KKR, for ₹1,554 crore. It was one of the largest deals so far in India’s solar power segment involving a private equity player.
On February 6, billionaire Gautam Adani-promoted Adani Green Energy sold half its stake in 2,148 MW solar power assets to Total Gas & Power Business Services SAS for $510 million. It was one of the largest deals in India’s solar energy space, after Tata Power’s acquisition of Welspun Renewables for ₹9,249 crore in 2016.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.
