Category: Power

Mumbai: The Enforcement Direct-orate has summoned ICICI Bank’s former CEO Chanda Kochhar and her husband Deepak Kochhar in connection with the Videocon money laundering case. Chanda Kochhar is asked to make a personal appearance before the ED in Delhi on May 3, with a detailed list of movable and immovable assets owned by her.

Mumbai: Debt-laden Infrastructure Leasing & Financial Services (IL&FS) Monday said GAIL (India) has emerged as the highest bidder for its seven operating wind power plants. The bidding process to these assets having 12 sites spread across seven states was launched in November last year. “Gail’s offer of approximately Rs 4,800 crore for 100 per cent […]

Physicists have developed a simple cooling device, which does not require an external power supply to function, according to a recent study. The study was published in the Journal of the ‘Science Advances, 2019’

Bengaluru: If you find junction boxes left open on pavements or public places, contact Bescom and the officials will fix them immediately. Recently, a citizen highlighted on social media the pathetic maintenance of junction boxes, which were left uncovered, posing a danger to the lives of pedestrians and children. Bescom immediately took note and ordered […]

New Delhi: Outstanding dues of power producers on electricity distribution utilities have increased by more than 20 per cent to Rs 40,804 crore in January 2019 compared to the year-ago month, adding to the woes of the stressed sector. According to PRAAPTI portal, discoms owed a total of Rs 33,848 crore to power generation companies […]

Mumbai: The Mumbai bench of the NCLT on Wednesday approved the amended resolution plan for Jyoti Structures by Sharad Sanghi of Netmagic that has proposed to pay Rs 3,965 crore in 12 years to the lenders and other creditors. Last week, the NCLAT had set aside an earlier order of the Mumbai bench to liquidate […]

New Delhi: Maharashtra State Electricity Distribution Co Ltd (MSEDCL) on Wednesday said it has no outstanding towards private power generators and dues reflecting on a government portal are “unilaterally” uploaded by private without validation from distribution companies. Responding to reports of 12 power generating companies belonging to firms such as GMR and Adani Group and […]

New Delhi: Global rating agency Moody’s on Wednesday confirmed Baa3 ratings and retained stable outlook of Power Finance Corporation (PFC) and ural Electrification Corporation (REC) Ltd on the expectation the deal between the two companies will conclude soon. Last week, state-owned PFC had said it will acquire the entire 52.63 per cent shares of the […]

New Delhi: As much as Rs 3 trillion of investment in a dozen power plants of the private sector is at risk of turning into NPA as states buying power have not been making payment for months, official data and sources said. According to data available on the PRAAPTI portal of the Ministry of Power, […]

Mumbai: GVK Power & Infrastructure Ltd.on Friday said its airports arm will acquire the entire 10 per cent stake held by Airports Company South Africa (ACSA) Global in Mumbai International Airport Ltd (MIAL) for Rs 924 crore. With this stake buyout, along with the recent purchase of 13.5 per cent from Bidvest, GVK Group’s shareholding […]

New Delhi: State-run utility Power Grid Corporation on Tuesday said it has fully drawn a 22 billion Japanese Yen (JPY) loan and utilised it to finance capital expenditure for its ongoing and new projects. “Power Grid has fully drawn the loan and utilised the proceeds toward part-financing of its capital expenditure for its ongoing and […]

Bengaluru: While the clean energy companies are awaiting the court judgment over an order passed by the Karnataka Electricity Regulatory Agency (KERC), imposing transmission and wheeling charges on solar projects, they felt such measures will badly hit solar energy sector. They felt the retrospective change in the policy could lead to creating an adverse environment […]