• UGI USER
  • May 23, 2024
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CONTINUUM SEEKS $150M FROM PES AT $1B VALUATION

Why in the news?

  • Continuum Green Energy plans to raise $150 million from private equity investors.
  • $150 million funding at $1 billion valuation.
  • Founders increased stake, reducing Morgan Stanley’s share.
  • Upcoming IPO planned to raise $400 million.

About Continuum Green Energy (India) Private Limited:

  • Continuum Green Energy is an unlisted private company from Coimbatore, Tamil Nadu.
  • Incorporation: 15 May 2007, Coimbatore, Tamil Nadu.
  • Activities: Electricity production, collection, distribution; solar energy services.
  • Status: Active.
  • India-focused renewable energy group, founded in
  • Directors: Arvind Bansal, Raja Parthasarathy, and others
  • Major seller to commercial/industrial consumers and state DISCOMs.
source:TET
What is Green Energy?

  • Definition: Energy from renewable sources, often called clean, sustainable, or renewable energy.
  • Environmental Impact: Produces little to no greenhouse gasses, minimizing environmental impact.
  • Sources: Solar, wind, geothermal, biogas, low-impact hydroelectricity, and eligible biomass.

Key Initiatives Shaping India’s Energy Transition:

  • “Pradhan Mantri Sahaj Bijli Har Ghar Yojana”(SAUBHAGYA): Aims to provide electricity to all households.
  • “Green Energy Corridor”(GEC): Facilitates the transmission of renewable energy.
  • National Smart Grid Mission(NSGM) & Smart Meter Programme: Enhance grid efficiency and consumer management.
  • “Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles”(FAME): Promotes adoption and manufacturing of hybrid and electric vehicles.
  • International Solar Alliance(ISA): Aims to promote solar energy globally.