PTC Financial Services (PFS) is setting up India’s first infrastructure development debt fund, solely for renewable energy projects, in partnership with UK Climate Investments LLP (UKCI) and Department for International Development (DFID), UK. The company has raised Rs 400 crore from State Bank of India under the credit enhancement scheme, enabling it to raise bonds […]
Category: Power
Power
Alstom bags Rs 580-crore contract by Bangalore Metro Rail Corporation
Alstom has been awarded a Rs 580 crore contract by Bangalore Metro Rail Corporation Limited (BMRCL) to provide power supply and traction electrification for the 33-kilometre extension to Bangalore Metro under Phase II. It is Alstom’s largest third-rail electrification contract in India, the comany said. Phase II encompasses extension of Bangalore Metro’s existing North-South and […]
Videocon loan row: CBI lookout circulars against Chanda Kochhar and husband
The Central Bureau of Investigation (CBI) has issued lookout circulars (LOC) against former ICICI Bank chief executive and managing director Chanda Kochhar, her husband Deepak Kochhar, and Videocon Group’s Venugopal Dhoot. The development comes weeks after the Enforcement Directorate (ED) registered a criminal case against them for alleged money laundering . At the behest of […]
Odisha launches Rs 2196 cr worth projects, clears proposals of Rs 1197 cr
Odisha chief minister Naveen Patnaik on Tuesday performed inauguration and ground breaking of 18 new industrial projects entailing total investment of Rs 2196.30 crore and creating job opportunities for 3,465 people. Patnaik inaugurated four units and performed groundbreaking for the rest. In a separate development , the State Level Single Window Clearance Authority (SLSWCA) cleared […]
Cabinet nod for long-pending KUSUM, 40GW solar rooftop schemes
The Cabinet Committee on Economic Affairs (CCEA) on Tuesday approved two schemes for promotion of solar power — one for the agriculture sector and the other for rooftops. The long-pending KUSUM scheme (Kisan Urja Suraksha evam Utthaan Mahabhiyan) was approved by the CCEA. The scheme consists of three components: 1. Setting up 10 GW grid-connected […]
Anil Ambani’s Reliance Group shares rises after pact with lenders
Shares of Anil Ambani-led Reliance Group companies rallied on Monday after it reached an agreement with lenders to not sell any shares pledged by promoters till September. The pact comes just days after some lenders had dumped pledged shares after a sharp fall in share prices led to a plunge in the value of their […]
ArcelorMittal has Rs 4,800-cr offer for Essar Power’s project at Mahan: PFC
Global steel giant ArcelorMittal has made an offer of Rs 4,800 crore for Essar Power’s 1,200 Mw project at Mahan in Madhya Pradesh, according to Power Finance Corporation (PFC). Government-owned PFC is one of the lenders to the project, part of its portfolio of stressed assets. It is seeking a one-time settlement. The Arcelor offer, […]
PFC plans to raise up to Rs 4,000 crore in capital through tier-II bonds
Power Finance Corporation (PFC), a state-owned power sector financing company, plans to raise up to Rs 4,000 crore in capital through tier-II bonds to strengthen its capital adequacy. The company’s capital adequacy ratio (CAR), which stood at 17.71 per cent in early part of the current financial year, improved to 17.91 per cent at the […]
Anil Ambani group lenders not to sell pledged shares till September
Promoter entities of the debt-heavy Anil Ambani-led Reliance group have reached an in-principle understanding with a little more than 90 per cent of its lenders. The latter have agreed not to sell pledged shares in the group till September. And, the group informed the lenders that it had appointed investment bankers to sell up to […]
EVI plans investment of Rs 100 crore to set up 20,000 EV charging stations
Electric vehicle charging infrastructure provider EVI Technologies plans to invest around Rs 100 crore in the next one and a half years to set up 20,000 charging stations across the country, a senior company official said. The firm, incubated at the Electropreneur Park funded by the Ministry of Electronics and Information Technology, has also tied […]
AP power discoms want regulator to cut wind power tariff in existing PPAs
Despite being signatories, Andhra Pradesh power utilities have challenged the PPAs of wind power developers in a bid to reduce the agreed preferential tariff in the light of lower prices being quoted by some of these and other developers for the projects awarded through open bidding route in the country. The Southern Power Distribution Company […]
India to be world’s largest energy growth market by mid-2020s: Report
India will by mid-2020s surpass China as the world’s largest energy growth market, accounting for over a quarter of incremental global demand, UK supermajor BP said in its annual energy outlook. The 2019 edition explores the key uncertainties that could impact the shape of global energy markets out to 2040. “The greatest uncertainties over this […]