Latest news with #AIIM
Zawya
4 days ago
- Business
- Zawya
Gaia's $11mln deal marks a new era in South Africa solar energy
Gaia Renewables 1 has completed its R200m acquisition of stakes in two renewable energy plants. The transaction includes the sale of arguably South Africa's first solar independent power producer. This follows reaching financial close pursuant to project lender approval last week, with Competition Commission approval in April 2025. The deal, initially funded with debt and equity, will see the fund gaining a 10% holding in each of the Linde and Kalkbult solar photovoltaic plants in the Northern Cape. The seller is the IDEAS Renewable Energy Fund, which is managed by African Infrastructure Investment Managers (AIIM). The fund will issue a batch of preference shares to existing shareholders with additional issuances to follow over the next 12 months to fund additional transactions. Gaia Fund Managers has concluded 16 renewable energy transactions on behalf of investors, with Gaia Renewables 1 already owning a 16% stake in the Tsitsikamma Community Wind Farm in the Eastern Cape. The two new renewable assets were constructed during the government's first round of allocations in the Renewable Energy Independent Power Producers Procurement Programme (REIPPPP) in a bid to relieve the country of its reliance on aged coal-fired power plants. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Hindustan Times
07-07-2025
- Business
- Hindustan Times
UPSIDA revenue triples as industrial push gains momentum
Over the years, the Uttar Pradesh State Industrial Development Authority (UPSIDA) has transformed from a mere land-allotting agency into a leading force in policy-making, investment promotion and infrastructure development, said officials. For representation only This transformation is clearly reflected in the sharp increase in UPSIDA's revenue. In the financial year 2023–24, UPSIDA recorded revenue of ₹1,898 crore, with an estimated ₹1,937 crore projected for FY 2024–25 — marking over a threefold increase compared to FY 2021–22, the state government said on Sunday. This significant growth highlights not only financial success but also growing investor confidence in Uttar Pradesh, said UPSIDA officials. The authority's expanded mission now includes establishing Uttar Pradesh as a major industrial hub in India — attracting large-scale investments, creating employment opportunities for youth, and ensuring inclusive and sustainable growth across the state. Thanks to transparent and efficient land allotment systems, UPSIDA has allotted over 1,600 industrial plots in the past three years. Notably, 798 of these were allotted in FY 2024–25 alone. These allocations have directly boosted industrial investment and created thousands of jobs statewide. Under the Digital India Mission, UPSIDA has significantly improved service delivery. Through 42 digital services — including the 'Nivesh Mitra' portal, e-auctions, online payments, and grievance redressal mechanisms — the authority has received over 31,000 online applications, 96% of which have already been resolved, the state government reported. UPSIDA has approved a record budget of ₹6,190 crore for FY 2025–26. This budget will be used to upgrade industrial area facilities, including smart roads, continuous water supply, sewage networks, and 24x7 electricity. Promoting financial discipline, UPSIDA has reduced administrative expenses by 9%. Simultaneously, infrastructure spending has increased from ₹104 crore in 2017–18 to ₹415 crore in 2023–24, reflecting a strong focus on development. To enhance women's participation in industrial zones, UPSIDA has introduced pink toilets, dormitories, and women's help desks. Under the Atal Industrial Infrastructure Mission (AIIM), women-focused skill training and health services are also being provided. In line with its commitment to environmental sustainability, UPSIDA is working on initiatives such as the creation of green zones, effective solid and liquid waste management, and pollution control measures to balance industrial growth with ecological preservation. Through the mega allotment scheme launched in May 2025, 113 plots were allotted, which is expected to attract ₹700 crore in investment and generate over 4,800 jobs. Under the government's inclusive industrial policy, small industries are being provided affordable land and simplified procedures, while large investors benefit from dedicated cluster zones and robust policy support.
