Ahmedabad: Billionaire Gautam Adani Friday announced over ₹55,000 crore investment in next five years in a clutch of projects in Gujarat including the world’s largest solar park, a copper plant, a cement unit, and a lithium battery manufacturing complex.
Mumbai: Hero Future Energies Pvt. Ltd is in talks to acquire Fotowatio Renewable Ventures’s 135 megawatt (MW) solar power project in India, two people aware of the development said.
Tokyo: Japan’s Hitachi Ltd said on Thursday it has decided to freeze a 3 trillion yen ($28 billion) British nuclear power project and will consequently book a writedown of 300 billion yen.
New Delhi: The Union Cabinet on Wednesday gave its approval for regularisation of pay scales of 5,254 executives in four state-run hydro power companies — NHPC, NEEPCO, THDC India and SJVNL.
Mumbai: Malaysia’s state-owned oil and gas company, Petroliam Nasional Berhad, or Petronas, is in talks with New York-based I Squared Capital to buy a majority stake in Amplus Energy Solutions Pvt. Ltd, one of India’s largest rooftop solar power producers, in a potential deal worth about ₹2,700 crore, said two people aware of the development.
Mumbai: Adani Transmission Ltd plans to raise up to ₹3,000 crore through a soon-to-be-launched qualified institutional placement (QIP) offering, said two people aware of the development, requesting anonymity.
New Delhi: Amid stress in the power sector, woes of electricity generating firms have increased further as their outstanding dues on state distribution companies (discoms) rose to ₹39,498 crore in October 2018, up 24.7% from a year-ago levels, official data showed.
New Delhi: Japan’s Daiwa Securities Group Inc. has been hired by Leap Green Energy Pvt. Ltd, promoted by the family of former Formula 1 driver Narain Karthikeyan, to raise funds from China, Japan and South Asian countries for its clean energy business, said two people aware of the development.
New Delhi: The Indian arm of CLP Holdings Ltd, Macquarie Infrastructure and Real Assets (MIRA) and Hero Future Energies are among the companies that are interested in acquiring PTC India Ltd’s wind power business that may be valued at around ₹2,000 crore, two people aware of the development said.
In upward economic trend and better distribution connectivity have set India’s power sector for demand growth, yet it continues to face intrinsic challenges that could still upset the applecart.