BDO appointed receiver for Evergreen Power's Mauritius arm
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.
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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.
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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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