BDO appointed receiver for Evergreen Power's Mauritius arm
In Mauritius, receivers are typically appointed when creditors make claims on a company. "As a policy, Evergreen Power does not comment on market speculation or matters involving internal corporate structure or investor arrangements," the company said in a statement in response to ET's queries on the matter.
ET Bureau NEW DELHI: Private equity (PE)-backed Evergreen Power has appointed BDO as a receiver, said people in the know.Evergreen Power's Indian operations have been recipients of capital through a Mauritius-based entity where the receiver has been appointed, they said.In Mauritius, receivers are typically appointed when creditors make claims on a company. "As a policy, Evergreen Power does not comment on market speculation or matters involving internal corporate structure or investor arrangements," the company said in a statement in response to ET's queries on the matter.
Evergreen Power is executing tenders worth 1 gigawatt for state-backed entities such as Solar Energy Corporation of India (SECI), NTPC and SJVN.
Indian banks have provided bank guarantees for projects that Evergreen Power has committed to execute, as per those in the know. "We remain committed to the development and execution of clean energy projects in India and continue to work closely with our partners and stakeholders," the company said.
Evergreen Power is backed by UK-based Devonport Capital. The company has won tenders to set up electricity generation through solar, wind and hybrid methods. It has competed with well-known names like Adani Green, Sembcorp, Jindal Renewables and ReNew Power, among others, for these tenders.
Evergreen Power was set up in 2012 as per its website, which states it has headquarters in Chicago and Mumbai. It developed its first renewable energy project, a 23 MW solar photovoltaic plant located in Telangana, in a joint venture with Hilliard Energy (US) in April 2016.
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