NEW DELHI: The BSES Rajdhani Power Limited (BRPL) and BSES Yamuna Power Limited (BYPL) have energised 3,140 rooftop solar installations with a connected solar load of 106 Mega Watt peak (MWp) across the national capital. The discoms, which have been aggressively promoting rooftop solar in south, west, east and central Delhi, plan to energise over […]
Day: February 24, 2021
Air India Express accident: Pilot error caused mishap; DGCA officials visits Vijayawada airport
AMARAVATI: A team of officials from the Directorate General of Civil Aviation visited the Vijayawada Airport at Gannavaram on Tuesday and conducted a preliminary investigation into the freak accident involving an Air India Express Boeing aircraft here on February 20. Official sources said pilot error caused the mishap in which the Boeing aircraft suffered a […]
Consumers, employees being ignored in finalising Electricity (Amendment) Bill 2021: AIPEF
NEW DELHI: The All India Power Engineers Federation (AIPEF) on Tuesday said consumers as well as employees are being ignored in finalising the Electricity (Amendment) Bill 2021, and demanded that the draft bill should be put in public domain for feedback. “The consumers and power sector employees and engineers are being ignored in finalising the […]
6 runways, electronic city & more! UP govt makes Rs 2000 crore provision in budget for Jewar airport expansion
Aviation boost in Uttar Pradesh! The UP government in its 2021-22 budget has made a provision of Rs 2,000 crore for the expansion of the Noida International Greenfield Airport in Jewar, along with the announcement of setting up an ‘electronic city’ near the airport. To increase the number of airstrips at the airport from two […]
Telangana regional ring road: Nitin Gadkari gives in-principle nod to ‘game-changer’ Rs 10,000-cr project
Minister for MSMEs and road transport & highways Nitin Gadkari on Monday gave in-principle approval for the construction of a Rs 10,000 crore regional ring road in Telangana. The 158-km ring road, on the northern part of the state, will be a game changer for the state, union minister of state for home affairs G […]
Reliance Industries’ proposed business reorganisation credit neutral: Fitch Ratings
NEW DELHI: The proposed reorganisation plan by Reliance Industries Ltd to transfer its refining, marketing and petrochemical (oil-to-chemicals) businesses to a wholly-owned subsidiary is a step towards facilitating participation by strategic investors in the unit, Fitch Ratings said on Tuesday. It said in a statement that the reorganisation of the business in Reliance O2C Limited […]
NTPC raises Rs 900 cr via debentures
State-run power giant NTPC on Tuesday said it has raised Rs 900 crore through issuance of unsecured, redeemable, taxable, listed, rated non-convertible debentures. The NTPC has issued 9,000 unsecured, redeemable, taxable, listed, rated non-convertible debentures worth Rs 900 crore on February 23, 2021, a BSE filing stated. The Series-I debentures worth Rs 400 crore would […]
Maintain ‘buy’ on GAIL with increased TP of Rs 173
GAIL, LPG production, CGD networks, Urja Ganga pipeline, natural gas trading Commissioning of customer projects, completion of pipelines, and rising oil prices all bode well for gas demand and GAIL We expect gas trading and LPG production to also show improved profitability. Increase target price to Rs 173 (from Rs 156) and maintain ‘buy’ rating […]
NTPC inks pact to buy GAIL’s 25.1 per cent stake in Ratnagiri Gas and Power
NEW DELHI: State-owned NTPC on Tuesday said it has signed a share purchase agreement to buy GAIL’s 25.51 per cent stake in Ratnagiri Gas and Power Pvt Ltd (RGPPL), which is commonly known as Dabhol project. After the transaction is complete, NTPC would have 86.49 per cent stake in the RGPPL. Earlier in January, the […]
RIL outlines plan for O2C business spin off
Reliance Industries (RIL) is in the process of carving out its oil-to-chemical (O2C) business into a separate new subsidiary with a $25-billion loan from the parent. The move is directed towards unlocking value in the business with a possible stake sale and embarking on the next level of investment cycle with a focus on clean […]
Disinvestment: BPCL, Air India deals to conclude by July-August
The shortlisted bidders for fuel retailer-cum-refiner BPCL and national carrier Air India (AI) are likely to be asked to submit their financial bids in a couple of months, as the government intends to complete the two transactions latest by July-August if not early, an official source told FE. Even though the department of investment and […]
GAIL raises Dabhol LNG terminal stake by swapping Ratnagiri shares with NTPC
State-run energy firms NTPC and GAIL swapped their respective shares in Ratnagiri Gas and Power (RGPPL) and Konkan LNG (KLL), effectively increasing GAIL’s shareholding in KLL to 84% while NTPC’s ownership in the 1,967 mega-watt (MW) gas-based power plant rose to 86.5%. KLL owns the liquefied natural gas (LNG) assets of the Ratnagiri project, including […]