FINWIRES · TerminalLIVE
FINWIRES

Avaada Secures $1.3 Billion Financing for 2.15 GW Renewable Energy Portfolio

By

Avaada Group has achieved financial closure of about $1.3 billion for a 2.15 GW renewable energy portfolio comprising hybrid renewable and utility-scale solar projects.

The financing has been sanctioned by State Bank of India (NSE:SBIN, BOM:500112), REC (NSE:RECLTD, BOM:532955) and Canara Bank (NSE:CANBK, BOM:532483) across four special purpose vehicles.

The portfolio includes 1.35 GW of hybrid renewable energy projects and 800 MW of solar projects being developed for Maharashtra State Electricity Distribution and Gujarat Urja Vikas Nigam.

The projects across Gujarat and Maharashtra involve developing more than 3 GW of solar capacity and 450 MW of wind capacity, the company said.

Related Articles

Asia

ASE Technology's Q2 Profit Shoots Up as Revenue Rises 27%

ASE Technology's (TPE:3711) attributable profit surged to NT$21.1 billion in the second quarter from NT$7.52 billion a year earlier.Diluted earnings per share rose to NT$4.61 from NT$1.70 a year earlier.Revenue climbed 27% year over year to NT$191.1 billion due to higher semiconductor assembly, testing and electronic manufacturing services sales. On a sequential basis, revenue increased 10%.Gross margin improved to 21% from 20% in the first quarter, while operating margin rose to 11% from 10%, it said.

TPE:3711
Asia

Fitch Affirms Sinochem at A, Stable Outlook

Fitch Ratings affirmed Sinochem International's (SHA:600500) long-term foreign-currency issuer default rating and senior unsecured rating at A-, with a stable outlook, the ratings firm said Thursday.The new ratings reflected the state-owned firm's parent, Sinochem Holdings Corporation, which was rated with "Low" legal, "Medium" strategic, and "High" operational incentives to support Sinochem.The ratings firm decided to withdraw the ratings due to commercial reasons.

SHA:600500
Asia

Cinda Securities H1 Profit Up 7%, Revenue Rises 20%

Cinda Securities (SHA:601059) posted first-half attributable net profit of 1.10 billion yuan, up 7.2% from 1.02 billion yuan the previous year.Earnings per share were unchanged at 0.30 yuan, according to a filing with the Shanghai bourseOperating revenue climbed 20% year over year to 2.44 billion yuan from 2.04 billion yuan.Shares of the brokerage were down 1% in recent trade.

SHA:601059