SWFI First Read, September 20, 2016
Russian Reserve Fund Faces Depletion
Russia’s Reserve Fund could be used up by the middle of 2017. The Russian government is burning through its foreign exchange reserves, as oil prices remain low for the country.
SWF-Backed Greenko to Buy Some Assets of SunEdison India
Hyderabad-based Greenko is buying some 438MW of operating assets from the financially-troubled renewables company SunEdison’s India unit. The assets are valued at an enterprise value of US$ 315 million. The assets include a 390 MW solar power portfolio and 48MW worth of wind parks. The equity value of the assets are around US$ 30 million in equity, with the remaining part debt. Greenko is financially backed by Singapore’s GIC Private Limited. The Abu Dhabi Investment Authority (ADIA) is an investor in Greenko.
Oman State Entities Form Innovation Development Oman Holding
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