REC Ltd, which is one of the leading non-banking financial companies (NBFC) in the energy sector, has registered its highest ever annual profit during the financial year 2023-24, owing to a reduction in stressed assets and diversification into newer business areas. During the financial year 2023-24, REC clocked a net profit of Rs 14,019 crore […]
Category: Power
Power
REC Ltd net profit grows 33% to Rs 4,079 crore in March quarter
State-owned REC Ltd on Tuesday posted a 33 per cent rise in its consolidated net profit to Rs 4,079.09 crore during the March quarter on account of higher income. The company had clocked a net profit of Rs 3,065.37 crore during the January-March quarter preceding FY 2022-23, REC said in a regulatory filing. The company’s […]
KEC International bags orders worth Rs 1,036 crore in India, abroad
KEC International on Monday said it has secured new orders worth Rs 1,036 crore in the domestic and international markets. The company’s transmission & distribution (T&D) division has secured orders for setting up overhead transmission lines in the United Arab Emirates (UAE), and supply of towers, hardware and poles in the Americas, KEC International said […]
‘Zero electricity bill, surplus power’: PM Modi’s goals for Viksit Bharat
In a move aimed at revolutionising India’s energy landscape and propelling the nation to global economic supremacy, Prime Minister Narendra Modi unveiled ambitious plans to reduce electricity and transport costs for the public to zero while steering the country towards becoming the world’s third-largest economy. In an interview with News18, PM Modi outlined his multifaceted […]
REC files application against RattanIndia Power under section 7 of IBC Code
RattanIndia Power announced that REC, holding 0.001% Redeemable Preference Shares (RPS) of Rs 28.72 crore in the Company, has filed an application against the Company, under Section 7 of IBC Code. The RPS were issued, in favour of REC, on 27 December 2019. The Company strongly disputes the eligibility and entitlement of REC to seek […]
KPI Green Energy bags solar power projects of 74.30 MW
KPI Green Energy has received new orders aggregating to 74.30 MW for executing solar power projects. Within this allocation, KPI Green Energy has undertaken 27 MW capacity, which includes 20 MW capacity for the development of Solar power project forming part of the wind-solar hybrid power project. Additionally, M/s. KPark Sunbeat has undertaken 30 MW […]
NTPC Group’s installed power generation capacity crosses 76 GW milestone
State-owned power giant NTPC Group’s installed power generation capacity has crossed the 76 GW-mark with commissioning of a 57-MW solar power energy capacity in Rajasthan. “Consequent upon successful commissioning and due approvals, first part capacity of 57 MW out of 90 MW Anta Solar PV Project at Anta, Rajasthan, is declared on commercial operation with […]
Tata Power Company Ltd up for third straight session
Tata Power Company Ltd is quoting at Rs 445.6, up 1.99% on the day as on 12:49 IST on the NSE. The stock is up 120.87% in last one year as compared to a 24.35% jump in NIFTY and a 67.36% jump in the Nifty Energy index. Tata Power Company Ltd is up for a […]
Jaiprakash Power hits roof on turnaround Q4 outcome
Jaiprakash Power Ventures was locked in an upper circuit at 5% to Rs 19.04 after the company’s consolidated net profit stood at Rs 588.79 crore in Q4 FY24 as against a net loss of Rs 43.99 crore recorded in Q4 FY23. Revenue from operations increased 9.78% to Rs 1,514.83 crore in March 2024 quarter from […]
ITPCL debt: NCLAT rejects SBI’s objection on liquidation value given by PNB
Appellate tribunal NCLAT has rejected SBI’s pleas opposing the liquidation value of ITPCL provided by the debt-ridden firm’s lead banker PNB and said the country’s largest lender cannot “wriggle out” the debt restructuring process of the IL&FS group’s thermal power company. The National Company Law Appellate Tribunal (NCLAT) has dismissed all three applications moved by […]
CESC acquires co building 300 MW solar park in Rajasthan for Rs 3.84 cr
CESC Ltd on Friday said one of its step-down subsidiaries has completed the acquisition of a company that is in the process of implementing a 300-MW solar park in Rajasthan. The acquisition aims at bolstering the renewable energy portfolio of the power utility. In a regulatory filing, CESC said Purvah Green Power has completed the […]
‘At least $12 trn needed for tripling renewable energy capacity by 2030’
At least $12 trillion is required to create new infrastructure over the next six years for tripling global renewable energy capacity by 2030, COP28 President Sultan Al Jaber said on Friday. Addressing the annual Petersberg Climate Dialogue, Al Jaber said the energy transition will not happen without significant investment and a level-up in climate finance. […]