JSW Energy on Wednesday said it will seek shareholders approval to raise up to Rs 5,000 crore via equity shares, bonds and other such securities in its annual general meeting on August 4, 2021. The proposed resolution enables the board of directors to issue securities for an aggregate amount not exceeding Rs 5,000 crore or […]
Category: Power
Power
IndiGrid acquires 100 MW solar assets from FRV for Rs 660 crore
Infrastructure investment trust IndiGrid on Wednesday said it has completed the acquisition of entire stake in two solar energy assets with cumulative capacity of 100 MW from Fotowatio Renewable Ventures (FRV) at an enterprise value of Rs 660 crore. IndiGrid’s acquisition of its first solar asset is an important milestone in the Indian infrastructure sector […]
SJVN to build 679-MW hydro plant in Nepal
State-run Satluj Jal Vidyut Nigam (SJVN) has signed a memorandum of understanding with the Investment Board of Nepal to build the 679 mega-watt (MW) Lower Arun Hydro Electric Project in the neighbouring country. SJVN won the project through competitive bidding after defeating other companies in the auction. The project is scheduled to be completed in […]
RIL invests Rs 1 lakh cash in 10K equity shares of new energy arm
Reliance Industries Ltd has invested Rs 1 lakh in cash in 10,000 equity shares of its newly-incorporated subsidiary Reliance New Energy Solar Ltd (RNESL). In a regulatory filing on Monday, RIL noted that RNESL is yet to commence its business operations. RNESL has been incorporated to undertake activities relating to solar energy. “It is hereby […]
Power curbs on industries lifted in Punjab: Chief minister Amarinder Singh
Punjab chief minister Amarinder Singh on Monday evening ordered immediate withdrawal of all power regulatory restrictions that were imposed on industries across the state to meet the power crisis. An official said the crisis was triggered by a delayed monsoon and an unprecedented surge in demand from both agricultural and domestic sectors. Reviewing the power […]
NTPC REL to set up first green hydrogen mobility project in Ladakh
State-run power giant NTPC on Tuesday said its arm, NTPC REL, will set up the country’s first green Hydrogen Mobility project in Ladakh. “NTPC REL, a 100 per cent subsidiary of NTPC, signed a MoU with the Union Territory of Ladakh, to set up the country’s first green Hydrogen Mobility project in the region,” a […]
DERC plea to permanently de-allocate ‘costly’ power from Dadri-I plant for Delhi
Delhi Electricity Regulatory Commission (DERC) has written to the Union power ministry requesting de-allocation of Delhi’s share of power from Dadri-I generating station of NTPC. In a letter sent on July 7, DERC requested de-allocation of the entire quantum of Delhi’s share from the ‘costly’ power plant (756MW) for optimisation of power purchase cost of […]
CCI approves Summit India (Tripura)’s 23.5 pc stake-buy in ONGC Tripura Power Co
Fair trade regulator Competition Commission of India (CCI) on Monday approved the acquisition of 23.5 per cent stake in ONGC Tripura Power Company Ltd by Summit India (Tripura). The transaction represents a credible business opportunity for Summit India (Tripura) as ONGC Tripura Power Company operates a 726.6 MW, fully operational natural gas based power plant […]
SJVN gains on inking MoU for hydro-power project in Nepal
SJVN rose 3.89% to Rs 29.35 after the company said that it has signed memorandum of understanding (MoU) with Investment Board of Nepal (IBN) in Kathmandu Nepal for the development of 679 MW Lower Arun hydroelectric project (HEP). IBN is a high-level government body chaired by the Right Honorable Prime Minister of Nepal. IBN functions […]
India wants rich countries to pay more for green energy shift
India can’t prioritise eliminating greenhouse gas emissions without sufficient financing from richer nations to help offset the high cost of transitioning to clean energy, according to a senior government official. In laying out its position ahead of key global climate talks later this year, the top bureaucrat in India’s environment ministry also said the country […]
Getting 40% less electricity than needed: Industry body
Hit hard by the Covid lockdowns, the Dera Bassi Industries Association has warned the Punjab government that its decision to impose power cuts would bring the industry to a standstill. “We fail to understand this situation, when Punjab, as claimed by your department, is a power surplus state and overnight the situation went so alarming […]
Adani Group crossed USD 100 billion in first week of FY22 in market capitalisation: Chairman
In the first week of Financial Year (FY) 2021-2022, AdGroup crossed USD 100 billion in market capitalisation, said Chairman Gautam Adani on Monday. Virtually addressing the firm’s shareholders at Annual General Meeting 2021, he noted that this ‘milestone’ is a first for a first-generation Indian company. “The performance of our listed entities propelled our portfolio […]