Latest news with #BII
Time of India
27-05-2025
- Business
- Time of India
British International Investment seeks CCI nod to acquire stake in ReNew Photovoltaics
British International Investment has sought fair trade regulator CCI's clearance to acquire a stake in solar manufacturing firm Renew Photovoltaics . British International Investment (BII) is a development finance institution wholly owned by the UK Government. "The combination relates to an investment by the acquirer (British International Investment) in the target (ReNew Photovoltaics Pvt Ltd) through subscription to securities of the target," a notice filed with the Competition Commission of India (CCI) said on May 21. Renew Photovoltaics is engaged in the manufacturing of solar modules and cells in India. The parties have clarified that there are no direct horizontal or vertical overlaps between their respective businesses in India. However, some of BII's portfolio companies are active in the solar energy sector in the country. The parties have submitted that the proposed combination will not result in any appreciable adverse effect on competition in India. To assist the CCI in its review of the proposed combination, the parties said the relevant markets could include the upstream segment for the manufacturing of solar modules and solar cells and the downstream segment for the generation and transmission of solar power in India. Earlier this month, ReNew Energy Global Plc announced that it has secured an investment of Rs 870 crore (around USD 100 million) from British International Investment to accelerate the growth of its solar manufacturing business in India. The investment will be made in ReNew Photovoltaics, the company's dedicated solar manufacturing subsidiary in India. Established in 2021, ReNew Photovoltaics comprises an operational 6.4 GW solar PV module facility and a 2.5 GW solar cell facility, located in Jaipur, Rajasthan, and Dholera, Gujarat. BII's investment will be primarily utilised to grow the business and expand the company's manufacturing capacity through the construction of a new 4 GW TOPCon cell facility in Dholera, Gujarat. Post-expansion, ReNew's total manufacturing capacity will be approximately 6.4 GW of modules and 6.4 GW of cells.
Time of India
27-05-2025
- Business
- Time of India
British International Investment seeks CCI nod to acquire stake in ReNew Photovoltaics
British International Investment has sought fair trade regulator CCI's clearance to acquire a stake in solar manufacturing firm Renew Photovoltaics . British International Investment (BII) is a development finance institution wholly owned by the UK Government. "The combination relates to an investment by the acquirer (British International Investment) in the target (ReNew Photovoltaics Pvt Ltd) through subscription to securities of the target," a notice filed with the Competition Commission of India (CCI) said on May 21. Renew Photovoltaics is engaged in the manufacturing of solar modules and cells in India. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dukung Orang Terkasih Menghadapi Limfoma: Mulai Di Sini Limfoma Baca Undo The parties have clarified that there are no direct horizontal or vertical overlaps between their respective businesses in India. However, some of BII's portfolio companies are active in the solar energy sector in the country. The parties have submitted that the proposed combination will not result in any appreciable adverse effect on competition in India. Live Events To assist the CCI in its review of the proposed combination, the parties said the relevant markets could include the upstream segment for the manufacturing of solar modules and solar cells and the downstream segment for the generation and transmission of solar power in India. Earlier this month, ReNew Energy Global Plc announced that it has secured an investment of Rs 870 crore (around USD 100 million) from British International Investment to accelerate the growth of its solar manufacturing business in India. The investment will be made in ReNew Photovoltaics, the company's dedicated solar manufacturing subsidiary in India. Established in 2021, ReNew Photovoltaics comprises an operational 6.4 GW solar PV module facility and a 2.5 GW solar cell facility, located in Jaipur, Rajasthan, and Dholera, Gujarat. BII's investment will be primarily utilised to grow the business and expand the company's manufacturing capacity through the construction of a new 4 GW TOPCon cell facility in Dholera, Gujarat. Post-expansion, ReNew's total manufacturing capacity will be approximately 6.4 GW of modules and 6.4 GW of cells.
Time of India
23-05-2025
- Business
- Time of India
ETtech Deals Digest: Startups raise $177.6 million this week; up 2.7 times on-year
Live Events Startups raised around $177.6 million between May 17 and May 23, marking a 2.7 time increase compared to the same period last also represents a 12.7% increase from last week's total of $157.7 week, startups across seed, early, and late stages raised funds through 15 deals, compared to 34 in the year-ago period, when they raised a total of $65.8 million, according to data from commercial vehicle maker Euler Motors raised around $75 million in a funding round led by Hero MotoCorp . Existing investor British International Investment (BII), the UK government's development finance arm, also participated in the hybrid healthcare platform, CureBay raised $21 million in a funding round led by Bertelsmann India Investments. The round also saw BII and existing investor Elevar Equity cybersecurity Cloudsek raised $19 million in a fresh funding round led by Tenacity Ventures and Commvault. Others participating in the round include Inflexor Ventures, MassMutual Ventures and Prana Ventures, along with some strategic technology company Mythik, founded by former and Freecharge CEO Jason Kothari, raised $15 million in a funding round from Sakal Media Group, Venture Catalysts-backed VC Grid, actor Shah Rukh Khan's family office, and Visceral Capital, among others.
Yahoo
19-05-2025
- Business
- Yahoo
TEDCO's Maryland Innovation Initiative Announces New Board Members
New board appointees exemplify Maryland's innovative spirit COLUMBIA, Md., May 19, 2025 /PRNewswire/ -- TEDCO, Maryland's economic engine for technology companies, announced two new Maryland Innovation Initiative (MII) Board of Directors appointees. Carol Washington, president and CEO of UTech Consulting LLC, and Francesca Ioffreda, chief innovation officer for the State of Maryland. Washington was appointed to the board by House Speaker Adrienne A. Jones, while Ioffreda was appointed by Governor Wes Moore's administration, thereby bringing the program's board of directors to capacity. The MII is a collaboration between the State of Maryland and five of Maryland's academic research institutions – Johns Hopkins University, Morgan State University, University of Maryland, College Park, University of Maryland, Baltimore and University of Maryland, Baltimore County. The intent of the collaboration is to bring promising technologies with significant potential from the research laboratories to the commercial sector. This process is done through technology validation, market assessment and the creation of startup companies. "MII has seen nearly 13 years of success and we are excited to continue moving forward with a fully slated board," said Renée Winsky, chair of the MII Board of Directors. "Carol and Francesca's appointments are sure to aid us in uplifting innovation and research throughout Maryland." Recently, this collaborative effort expanded to include two comprehensive universities, Frostburg State University and Bowie State University, as well as an expansion into Baltimore through the Baltimore Innovation Initiative (BII) Pilot Program. These pilot programs allow MII to further its reach and bring more innovative research to the market. "I am pleased to welcome Carol and Francesca to the MII Board," said Abi Kulshreshtha, MII executive director. "With more than $58 million invested in the Maryland ecosystem, nearly 400 jobs created and supported, and a revenue generation of $9 million in FY24, we look forward to building on our success with Carol and Francesca's contributions and expertise." A full list of the MII Board of Directors includes board chair Renée Winsky, Bay One Group, LLC; Christina DeMur, Johns Hopkins Technology Ventures; Francesca Ioffreda, State of Maryland; Wendy Martin, University of Maryland, Baltimore County; Mary Morris, University of Maryland, Baltimore; Kenneth Porter, University of Maryland, College Park; Wayne Swann, Morgan State University; and Carol Washington, UTech Consulting, LLC. For more information, visit our page here. About TEDCOTEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology and life science-based companies in Maryland. Learn more at Media ContactTammi Thomas, Chief Development & Marketing Officer, TEDCO, tthomas@ Kalinyak, Associate Director, Marketing & Communications, TEDCO, rkalinyak@ View original content to download multimedia: SOURCE TEDCO 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
Yahoo
07-05-2025
- Business
- Yahoo
Brookfield Asset Management Ltd (BAM) Q1 2025 Earnings Call Highlights: Record Earnings Growth ...
Release Date: May 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Brookfield Asset Management Ltd (NYSE:BAM) reported its highest quarterly earnings growth since going public, with fee-related earnings reaching a record $698 million, up 26% year over year. The company raised $25 billion in capital this quarter, bringing total inflows over the past year to more than $140 billion, demonstrating strong fundraising capabilities. BAM's fee-bearing capital increased by 20% compared to last year, now standing at approximately $550 billion, indicating robust growth in its capital base. The company successfully closed $6 billion of commitments for its flagship real estate strategy, marking it as the largest real estate strategy ever. BAM's private credit business has expanded significantly, with over $320 billion in credit assets under management, positioning it as one of the largest private credit businesses globally. Negative Points The broader market faced heightened volatility, which could pose challenges for future fundraising and investment activities. Despite strong performance, the company operates in an environment with increased uncertainty, which may impact investor confidence and capital flows. The real estate fundraising environment remains challenging, although BAM has managed to secure commitments, indicating potential difficulties in future capital raising efforts. There is a potential risk of overcrowding or saturation within the private credit asset class, which could impact BAM's growth in this area. The dividend payout ratio exceeded 100% in the quarter, raising questions about the sustainability of dividend growth in the future. Q & A Highlights Q: Given the challenging environment for real estate fundraising, how did Brookfield manage to raise $16 billion for its real estate strategy? A: Connor Tesky, President, explained that the strong fundamentals in real estate, such as the lack of new supply and attractive opportunities due to legacy capital structures, contributed to the successful fundraising. The strategy's ability to deploy capital over a multi-year period also appealed to investors, particularly in the U.S. market. Q: Can you provide insights into the performance and growth expectations for Brookfield's private wealth infrastructure fund (BII)? A: Connor Tesky highlighted that BII has shown consistent growth without a down month since its launch. The fund's global diversification and focus on high-quality infrastructure assets are key to its success. Brookfield remains optimistic about its growth trajectory in the retail and high-net-worth segments.
