Canadian Solar, one of the biggest solar power companies in the world, on October 19, 2016 made its first investment in India's alternative energy sector by acquiring 49% stake each in two projects of Suzlon Energy in Telangana for an aggregate amount of Rs 26.4 crore.
The Nasdaq-listed company, with a market capitalisation of $880 million, has the option to buy the rest of the 51% stake in each of Suzlon's 15-megawatt projects one year after they turn commercially operational.
Suzlon also sold a 49% stake in another 15megawatt project in Telangana to Shanghai-based Unisun Energy for
Rs 13.5 crore. Unisun, too, has the option to buy .the remaining 51% stake in the project, Vayudoot Solarfarms, in future.
The two solar power units that Canadian Solar acquired in Telangana are expected to be commissioned next fiscal and debt financing will cover 80% of the costs. The projects have power purchase agreements with Telangana government at a fixed rate of Rs 5.54 per kilowatt hour for 25 years
Canadian pension fund buys into TVS Logistics
TVS Logistics Services on October 19, 2016 reached an agreement with CDPQ, a North American pension fund manager, whereby the investor will buy out two existing PE investors -Goldman Sachs and KKR -for nearly $155 million, or Rs 1,000 crore, for a minority stake.
Goldman Sachs invested nearly Rs 125 crore in 2008 and KKR invested nearly Rs 248 crore in 2012 for an undisclosed stake in the third-party logistics service provider
The Nasdaq-listed company, with a market capitalisation of $880 million, has the option to buy the rest of the 51% stake in each of Suzlon's 15-megawatt projects one year after they turn commercially operational.
Suzlon also sold a 49% stake in another 15megawatt project in Telangana to Shanghai-based Unisun Energy for
Rs 13.5 crore. Unisun, too, has the option to buy .the remaining 51% stake in the project, Vayudoot Solarfarms, in future.
The two solar power units that Canadian Solar acquired in Telangana are expected to be commissioned next fiscal and debt financing will cover 80% of the costs. The projects have power purchase agreements with Telangana government at a fixed rate of Rs 5.54 per kilowatt hour for 25 years
Canadian pension fund buys into TVS Logistics
TVS Logistics Services on October 19, 2016 reached an agreement with CDPQ, a North American pension fund manager, whereby the investor will buy out two existing PE investors -Goldman Sachs and KKR -for nearly $155 million, or Rs 1,000 crore, for a minority stake.
Goldman Sachs invested nearly Rs 125 crore in 2008 and KKR invested nearly Rs 248 crore in 2012 for an undisclosed stake in the third-party logistics service provider
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