New Delhi: Billionaire Gautam Adani’s sprawling conglomerate has raised over USD 5 billion (Rs 41,500 crore) in equity and a double of that in debt this year as the apples-to-airport group made a comeback since being hit by a bombshell short seller report. Adani, who was the world’s second-richest man at the start of the […]
Category: Power
Power
Gujarat govt ‘hopeful’ of Tesla setting up its first India manufacturing plant in state
Ahmedabad: The Gujarat government announced on Thursday that it is “hopeful” Elon Musk will establish Tesla’s manufacturing plant in the state, marking the electric vehicle (EV) automaker’s first plant in India. The government hinted that an announcement in this regard is likely to be made at the upcoming “Vibrant Gujarat” summit. “Government is hopeful about […]
Spain confirms nuclear power phase-out, extends renewable projects deadlines
Spain on Wednesday confirmed plans to close the country’s nuclear plants by 2035 as it presented energy measures including extended deadlines for renewable projects and adjusted renewable auctions. The management of radioactive waste and dismantling of the plants, whose shut down will begin in 2027, will cost about 20.2 billion euros ($22.4 billion) and will […]
Adani Energy Solutions bags Halvad Transmission project in Gujarat
New Delhi: Adani Energy Solutions Ltd (AESL) on Wednesday said it has got Letter of Intent to acquire Halvad Transmission from PFC Consulting. Halvad Transmission, a special purpose vehicle, has been set up by PFC Consulting for evacuating 7GW of renewable energy (RE) from Khavda RE park, Gujarat. AESL would be investing Rs 3,000 crore […]
Adani Energy Solutions arm to form joint venture with UAE-based Esyasoft Holdings
New Delhi: Adani Energy Solutions on Wednesday said its arm Adani Transmission Step-Four (ATSFL) will form a joint venture with UAE-based Esyasoft Holdings (EHL) to implement smart metering projects in India and abroad. ATSFL and EHL would hold a 49 per cent and 51 per cent shareholding, respectively, in the proposed joint venture with equal […]
TotalEnergies invests Rs 2495 cr in Adani Energy project
New Delhi: French energy giant TotalEnergies has invested Rs 2495.10 ($300 million) crore in a renewable energy joint venture (JV) with Adani Green Energy Limited (AGEL). In a statement, AGEL said it completed “1,050 MW joint venture (JV) with TotalEnergies. As part of the JV, TotalEnergies invested $300 million in AGEL subsidiary, for acquiring 50 […]
Renewable energy investments to surge 83 % to $16.5 billion in 2024
New Delhi: India will witness more than 83 per cent increase in investments in renewable energy projects to around $ 16.5 billion in 2024 as the country focuses on energy transition to reduce carbon emissions, according to power ministry estimates. This is in line with India’s ambitious target of having 500 GW of renewable energy […]
Adani Green Energy to raise Rs 9,350 crore from equity sale to promoters
The board of renewable energy firm Adani Green Energy Limited (AGEL) approved a preferential issuance of warrants to the promoters to raise Rs 9,350 crore, the company said in a press statement on Tuesday. Each warrant is priced at Rs 1,480.75 with a total issuance of 6.31 crore warrants to promoter group companies Ardour Investment […]
3 of family booked for beating up 2 employees of power company in Thane
Thane: A couple and their daughter allegedly beat up two women contractual employees of a state-run electricity distribution company when they were returning after disconnecting the family’s power supply over non-payment of dues, police said on Thursday. The incident took place in Kalyan town on Wednesday. The two contractual employees of the Maharashtra State Electricity […]
Telangana discoms’ losses mount as govt depts fail to clear dues
Hyderabad: As many as 20 government departments in Telangana owe a whopping Rs 28,842.72 crore to the state discoms. Over the years, government departments have not been paying their power consumption charges regularly and the backlog has been growing. According to the white paper presented in the state assembly by Deputy Chief Minister Mallu Bhatti […]
Karnataka govt rolls back plan for 20% lifetime tax on EVs
Transport Minister Ramalinga Reddy on Wednesday rolled back a proposal to levy 20 per cent tax on electric vehicles costing above Rs 20 lakh, following a nudge from lawmakers across parties, including the ruling Congress. Reddy had proposed 20 per cent lifetime tax on new electric vehicles as part of the Karnataka Motor Vehicles Taxation […]
Average power purchase cost shows 71 paise/unit increase
New Delhi: Average power purchase cost increased by 71 paise per unit during FY22-23 due to a rise in various overheads like transmission and distribution rates, Parliament was informed on Thursday. On the rise in power cost due to increased use of imported coal, Union Power Minister RK Singh, in a written reply to the […]