Latest news with #PPAs
Fibre2Fashion
04-07-2025
- Business
- Fibre2Fashion
France's TotalEnergies acquires 50% stake in AES Dominicana Renewables
TotalEnergies announces the closing of its acquisition of a 50% stake in the solar, wind and Battery Energy Storage Systems (BESS) portfolio of AES Dominicana Renewables Energy. This deal follows TotalEnergies' 2024 acquisition of a 30% share in AES solar and battery assets currently under construction in Puerto Rico. The combined portfolio now exceeds 1.5 GW of renewable energy and BESS capacity across the Caribbean. These transactions advance TotalEnergies' multi-energy strategy in a region where it is a key player in the liquefied natural gas (LNG) value chain. TotalEnergies has acquired a 50 per cent stake in AES Dominicana's solar, wind, and BESS portfolio, expanding its Caribbean renewables presence to over 1.5 GW. This follows a 2024 deal for a 30 per cent share in Puerto Rico's AES assets. The move supports its multi-energy strategy and boosts renewables in the Dominican Republic and Puerto Rico. Dominican Republic: TotalEnergies acquires 50% of AES renewables portfolio AES' renewables portfolio includes over 1 GW of contracted wind, solar, and BESS projects, of which 410 MW is already operational or under construction, supplying electricity under long-term Power Purchase Agreements (PPAs). The portfolio also includes over 500 MW of solar and wind capacity in development, alongside BESS projects, which will be integrated into solar plants to mitigate intermittency and enhance grid stability. This acquisition will allow TotalEnergies to expand its renewables business in the Dominican Republic, where the Company already has a partially solarized network of 184 service stations, natural gas distribution and a 103 MW solar plant under construction. Puerto Rico: TotalEnergies already holds 30% of a portfolio of AES renewables The AES' renewables portfolio includes 485 MW of contracted solar and BESS projects, comprising 200 MW of solar and 285 MW/1,140 MWh of BESS projects currently under construction. After acquiring 30% of these assets in 2024, TotalEnergies is pursuing deployment of its multi-energy strategy on the island, where it is already active in the fuel, lubricants, and aviation sectors, and operates a network of 200 service stations between Puerto Rico and the island of St Thomas. "We are pleased to expand our multi-energy strategy through this partnership with AES, focusing on renewables and battery storage in a region where TotalEnergies is already a leading supplier of LNG, notably for power generation. Since 2018, we have been supplying LNG to AES's subsidiaries in Panama and the Dominican Republic", said Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies . These new transactions will contribute to our targets of 35 GW of gross renewable capacity by 2025 and over 100 TWh of electricity production by 2030. "We are excited to join forces with TotalEnergies as we diversify the island's energy mix. The proceeds from this transaction will be reinvested in AES Dominicana, to grow our renewables footprint, said Juan Ignacio Rubiolo, AES Executive Vice President & President, Energy Infrastructure and Leader of International Markets . Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. ALCHEMPro News Desk (RM)
Yahoo
17-06-2025
- Business
- Yahoo
Peak Energy acquires 48 MW ready-to-build solar portfolio in Japan
The portfolio of projects will come online progressively over 2026-2028 and be combined with battery storage to maximize climate impact and cost savings for customers. SINGAPORE and TOKYO, June 17, 2025 /PRNewswire/ -- Peak Energy, one of the fastest-growing renewable energy developers in Asia, has completed the acquisition of a unique portfolio of ready-to-build (RTB) high-voltage solar sites in Japan. Located across different regions of Japan, including Tokyo and Tohoku, the projects have a combined capacity of 48 MW, sufficient to produce nearly 60 GWh of zero-carbon electricity per year, equivalent to the power consumption of around 15,000 households. In the process, the solar systems will help avoid nearly 27,000 tonnes of CO₂ emissions annually, equivalent to removing around 9,000 cars from the road. The solar plants are scheduled to come on stream over 2026-2027, with the electricity output sold to corporates through long-term power purchase agreements (PPAs). Prices will be fixed from day one until the end of the 20+ year PPAs, allowing customers to make immediate savings on their electricity bills and to shield themselves from fluctuations in electricity tariffs over the long term. Selected sites will also see battery energy storage systems (BESS) collocated with the solar PV installations, allowing customers to make additional savings and expand their use of renewable power into the night. This transaction further highlights Peak Energy's rapid growth in Japan, following the acquisition earlier in 2025 of another set of ready-to-build high-voltage solar sites, of 11 MW. Peak Energy since 2022 also co-owns a 28 MW solar plant in Kyushu and actively offers corporate power users in the country a range of energy services, such as cheap onsite solar PPAs, offsite solar PPAs and collocated solar+BESS PPAs. "This acquisition further cements our position in Japan, where we are now uniquely positioned to serve large power consumers with cheap, clean energy at the scale the require and within the timeframe they need to meet their climate objectives," said Gavin Adda, CEO of Peak Energy. "I am particularly excited about Peak now also adding storage to some of our sites, to offer time-shifted PPAs, and helping some of our most ambitious consumers get closer to their 24/7 Carbon-Free Energy ambitions." About Peak Energy Headquartered in Singapore, Peak Energy develops, owns, and operates renewable energy assets across Asia. Peak Energy delivers clean, affordable, and reliable power solutions to corporate customers through a diverse range of business models, including utility-scale solar, off-site and on-site corporate PPAs, and battery storage. Across the Asia-Pacific region, Peak owns over 200 MW of solar projects in operation or under construction, along with 298 MWh of battery energy storage capacity in operation or under construction. Peak Energy is wholly owned by Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, with approximately USD 73 billion in assets under management. Peak is a member of the 24/7 Carbon-Free Energy (CFE) Compact. View original content to download multimedia: SOURCE Peak Energy
Yahoo
15-05-2025
- Business
- Yahoo
REC Ltd (BOM:532955) Q4 2025 Earnings Call Highlights: Record Profits Amidst Challenges
Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. REC Ltd (BOM:532955) recorded its highest ever annual profit of 15,713 crores, marking a 12% year-on-year growth. The company's net worth increased by 13% to approximately 78,000 crores. REC Ltd's total income grew by 20%, reaching around 56,000 crores. The net interest margin improved to 3.63%, an increase of 6 basis points from the previous year. The company maintains a strong capital adequacy ratio of 26%, well above the RBI requirement, providing a cushion for future growth. REC Ltd faced prepayments of 34,000 crores, which impacted the potential growth of its loan book. There are ongoing issues with the signing of Power Purchase Agreements (PPAs) in the renewable energy sector, which could affect future project funding. The company has 12 projects under NPA, with some requiring resolution through the National Company Law Tribunal (NCLT). There is concern about the elevated provision coverage ratio for private renewable projects, indicating potential stress in this segment. The declining interest rate environment poses a challenge, as banks may aggressively seek to refinance projects funded by REC Ltd. Warning! GuruFocus has detected 2 Warning Sign with BOM:532955. Q: What is REC Ltd's outlook on disbursement growth for FY 2026, considering the elevated repayment rates? A: REC Ltd expects disbursements to reach around ?210,000 crore during the year, provided market conditions remain favorable. Prepayments are anticipated to continue at a similar rate, with approximately ?100,000 crore generally due annually. The company received prepayments of around ?34,000 crore this year, primarily from the RBPF scheme, which allows for surplus funds to be repaid and re-disbursed. (Respondent: Unidentified_6) Q: Can you provide an update on the renewable energy projects, particularly regarding the signing of PPAs and any stress in the private renewable book? A: REC Ltd only funds projects with signed PPAs, so the lack of PPA signing does not pose a risk to the company. While there are delays in PPA signings, they are expected to be resolved over time. Regarding the private renewable book, there has been an increase in provision coverage due to some rating downgrades, but no new NPAs have occurred. (Respondent: Unidentified_7 and Unidentified_6) Q: What are REC Ltd's strategies to address the potential pressure from declining interest rates and competition from banks? A: REC Ltd plans to incentivize early project completion and offer refinancing options post-COD. The company is also streamlining business processes to enhance ease of doing business. Despite the declining rate environment, REC Ltd's unique sector expertise and competitive rates are expected to retain business. (Respondent: Unidentified_3 and Unidentified_6) Q: How does REC Ltd plan to achieve its target of a net zero NPA by the end of FY 2026? A: REC Ltd aims to resolve the remaining 12 NPA projects by the end of FY 2026. The company has filed IBC cases for six projects and expects significant recoveries from these resolutions. (Respondent: Unidentified_6) Q: What is the expected borrowing for FY 2026, and how will it be divided between domestic and foreign sources? A: REC Ltd plans to borrow ?170,000 crore in FY 2026. The company evaluates funding sources based on cost-effectiveness at the time of requirement, choosing between domestic and foreign options, including ECBs, based on the most favorable rates. (Respondent: Unidentified_6) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
14-05-2025
- Business
- Time of India
Companies may get more time to sign PPAs under mega power policy
New Delhi: The government is considering extending the timeline by 2-3 years for power projects awarded under the Mega Power Policy that are yet to sign power purchase agreements (PPAs) or have signed partial pacts with distribution companies, people close to the development said. The proposed extension will give power plants more time to sign PPAs and get their bank guarantees, which stand at around ?4,000 crore, released, one of the persons said. The move is likely to benefit at least six power plants with a total planned capacity of around 8 GW, but the capacity remaining to be tied up is around 4 GW, because PPAs have either not been signed or partially signed, according to the person. The deadline for the signing of the PPAs for some projects ends in the current and next year, depending on the project and the date of import of equipment. The plants include those of DB Power 's Baradhara unit, Adani Power 's Raikheda unit, and RKM Powergen 's Uchpinde unit in Chhattisgarh, and IL&FS Tamil Nadu Power 's Cuddalore unit, according to the person quoted above. DB Power and RKM Power could not be reached for comments, while Adani Power and IL&FS Tamil Nadu Power did not respond to an e-mail sent by ET till press time. "States did not issue enough bids due to which PPAs were not signed," the person quoted above said. Another industry official said that with power demand improving, states are showing a willingness to sign long-term power purchase agreements compared with the pre-Covid period. This also resonates with the government's plan to bring more capacity on board to meet rising demand. Extensions to the timeline for PPA signing and furnishing documents to avail benefits under the policy have been provided earlier as well for all projects. The last extension was in 2022 for three years after an extension in 2017 for five years. The 2009 mega power policy promised exemption of customs duty on equipment and excise duty benefits to 25 power projects of 30,000 MW capacity that signed long-term power purchase deals. However, limited power procurement tenders from states led to a few extensions of the deadline to give developers more time for compliance. Of the 25 plants, many have already signed PPAs and hence the extension does not apply to them, the person quoted above said. The mega status was provided to thermal plants of over 1000 MW and hydro plants of 700 MW. These plants, however, had to fulfill some provisions including long-term PPAs of 85% of power produced. Apart from fiscal concessions like zero custom duty for import of capital equipment for the power projects, the policy also envisaged benefits to the domestic bidders and income-tax benefits.
Time of India
13-05-2025
- Business
- Time of India
Companies may get more time to sign PPAs under mega power policy
NEW DELHI: The government is considering extending the timeline by 2-3 years for power projects awarded under the Mega Power Policy that are yet to sign power purchase agreements (PPAs) or have signed partial pacts with distribution companies, people close to the development said. The proposed extension will give power plants more time to sign PPAs and get their bank guarantees, which stand at around ?4,000 crore, released, one of the persons said. The move is likely to benefit at least six power plants with a total planned capacity of around 8 GW, but the capacity remaining to be tied up is around 4 GW, because PPAs have either not been signed or partially signed, according to the person. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 9 years ago - Most beautiful twins. Their appearance today will shock you Novelodge Undo The deadline for the signing of the PPAs for some projects ends in the current and next year, depending on the project and the date of import of equipment. The plants include those of DB Power 's Baradhara unit, Adani Power 's Raikheda unit, and RKM Powergen 's Uchpinde unit in Chhattisgarh, and IL&FS Tamil Nadu Power's Cuddalore unit, according to the person quoted above. Live Events DB Power and RKM Power could not be reached for comments, while Adani Power and IL&FS Tamil Nadu Power did not respond to an e-mail sent by ET till press time. "States did not issue enough bids due to which PPAs were not signed," the person quoted above said. Another industry official said that with power demand improving, states are showing a willingness to sign long-term power purchase agreements compared with the pre-Covid period. This also resonates with the government's plan to bring more capacity on board to meet rising demand. Extensions to the timeline for PPA signing and furnishing documents to avail benefits under the policy have been provided earlier as well for all projects. The last extension was in 2022 for three years after an extension in 2017 for five years. The 2009 mega power policy promised exemption of customs duty on equipment and excise duty benefits to 25 power projects of 30,000 MW capacity that signed long-term power purchase deals. However, limited power procurement tenders from states led to a few extensions of the deadline to give developers more time for compliance. Of the 25 plants, many have already signed PPAs and hence the extension does not apply to them, the person quoted above said. The mega status was provided to thermal plants of over 1000 MW and hydro plants of 700 MW. These plants, however, had to fulfill some provisions including long-term PPAs of 85% of power produced. Apart from fiscal concessions like zero custom duty for import of capital equipment for the power projects, the policy also envisaged benefits to the domestic bidders and income-tax benefits.
