In the rush to meet the target of 1.75 lakh MW of renewable energy capacity by 2020, the Centre and several states have issued tenders totalling 30,549 MW. Of this, only 4,000 MW are wind power projects, 1,800 MW are hybrid (solar+wind) and balance 24,749 MW are solar power projects. The bids for these projects […]
Day: March 27, 2019
Air India tells pilots: No more special meals for you; stick to meal schedule
Air India has instructed its pilots to not order special meals for themselves during the flights as they are required to adhere to a “meal schedule laid down by the company”, according to an internal communication of the national carrier. “It has been brought to the notice of the undersigned that flight crew are ordering […]
Jet Airways shares continue upward march, jump 6 pc
Shares of Jet Airways continued its upward journey Wednesday rising nearly 6 per cent, after the company set an ‘ambitious’ target of flying 40 additional aircraft by the end of April. The stock jumped 5.79 per cent to Rs 286.70 on the BSE. On the National Stock Exchange (NSE), shares zoomed 5.94 per cent to […]
GMR Infrastructure announces proposed investment of Rs 8,000 crore by Tata, GIC, SSG
GMR Infrastructure Limited (GIL) on Wednesday announced a proposed investment of Rs 8,000 crore by Tata Group, an affiliate of Singapore’s sovereign wealth fund GIC and Hong Kong-based SSG Capital Management in its airports business. The investment will consist of Rs 1,000 crore equity infusion in GMR Airports Limited (GAL) besides Rs 7,000 crore towards […]
L&T dispatches India’s heaviest hydrocracker reactor to HPCL ahead of schedule
Infrastructure giant Larsen & Toubro (L&T) Wednesday said it has dispatched the country’s heaviest hydrocracker, weighing 1,858 tonne, ahead of schedule to HPCL for its Visakh refinery. L&T at present is also manufacturing several hydrocracker reactors, weighing more than 2,000 tonnes, which on completion will set international benchmark, the company said in a statement. “Achieving […]
MERC approves 700 MW PPA of Tata Power for five years
The Maharashtra Electricity Regulatory Commission (MERC) has allowed distribution business of Tata Power to have a power purchase arrangement (PPA) with its generation arm for 700 MW to be supplied from its Trombay thermal and hydro plants for five years. The PPA will be effective from April 1 and will ensure cheaper power to Mumbai […]
NTPC launches MTN issue to raise USD 450 million
State-run power giant NTPC Wednesday said it launched on Tuesday a medium term notes (MTN or bond) issue to raise USD 450 million (approx Rs 3,105 crore), which is a part of its USD 6 billion (approx Rs 41,400 crore) MTN programme. The MTNs are also know as bonds in the overseas markets. The issue […]
Suzlon completes sale of two of its solar subsidiaries to CLP wind farms for ₹990 million
Renewable project developer Suzlon Energy has announced that it has completed the sale two of its subsidiaries to CLP Wind Farms (India) Ltd (CLP). In a recent filing, Suzlon stated that it is selling the remaining stake in its subsidiaries S.E Solar Limited (SE Solar) and Gale Solar Farms Limited (Gale) for consideration of ₹765.5 […]
Vedanta reports oil discovery in Krishna-Godavari basin
Diversified natural resources company Vedanta said on Wednesday it has made an oil discovery in Krishna-Godavari basin of Andhra Pradesh. “Vedanta Limited has notified the Management Committee, Directorate General of Hydrocarbons and Ministry of Petroleum and Natural Gas of an oil discovery in the second exploratory well H2 located in the block KG-OSN-2009/3, Krishna-Godavari basin, […]
Rise and fall of Jet Airways: How Naresh Goyal’s number one airline came close to bankruptcy
After Jet Airways Chairman Naresh Goyal stepped down from the board amid with the lenders taking over the firm, industry peers says that it’s a sad day for aviation sector. “Today is indeed a sad day for Indian aviation. By launching a truly world class airline, Naresh and Anita made India proud,” Spicejet CEO Ajay […]
Jet’s domestic pilots seek salary dues; rival IndiGo, SpiceJet try to rope them
Jet Airways’ domestic pilots body, the National Aviators Guild (NAG), Tuesday sought a meeting with State Bank chairman Rajnish Kumar over pending salaries, a day after the lenders took over the carrier founded by Naresh Goyal a quarter of a century ago. The guild had last week announced that its over 1,100 -odd members would […]
Oil prices rise amid ongoing supply cuts, but recession fears loom
US sanctions on Iran, Venezuela also push up crude Oil prices climbed on Tuesday, pushed up by supply cuts led by producer club OPEC and US sanctions against Iran and Venezuela, although concerns about a potential recession kept markets from rising further. Brent crude oil futures were at $67.48 per barrel at 0747 GMT, up […]