Mumbai/London: ArcelorMittal is exploring a joint offer with Resurgent Power Ventures Pte to buy an Essar Power generation plant in India, according to people with knowledge of the matter. The companies have held preliminary talks on a potential joint bid for the 1,200-megawatt power plant in Madhya Pradesh, said the people, asking not to be […]
Category: Power
Power
Greenko, Sterlite among 5 bidders for Andhra energy storage project
Mumbai: The Andhra Pradesh government has received five bids for building India’s largest energy storage project. The bidders include renewable energy firms Greenko and private power transmission company Sterlite Power, a person said, requesting anonymity. In February, Transmission Corp. of Andhra Pradesh Ltd (APTransco) had invited expressions of interest from companies for long-term supply of […]
NTPC makes good on fuel-related revenue loss, sets stage for a better FY20
NTPC Ltd made good on its promise of reducing revenue loss due to fuel constraints. In the fourth quarter, revenue loss was reduced to ₹800 crore from ₹1,100 crore in the December quarter, implying a notable improvement. “Management delivered on its lower under-recovery target for FY19 of ₹800 crore. We had expected this to remain […]
NHPC Q4 net up over two-fold at ₹492 crore
NEW DELHI: State-owned hydro power giant NHPC Monday posted more than two-fold jump in standalone profit to ₹492.29 crore for March quarter mainly due to higher revenues. The company’s profit in January-March, 2017-18 stood at ₹199.80 crore, a BSE filing said. Total revenues rose to ₹2,186.25 crore in March quarter compared to ₹1.406.07 crore in […]
NTPC profit jumps nearly 49% to ₹4,350 crore in March quarter
New Delhi: State-run power giant NTPC Saturday posted a 48.7 per cent jump in its standalone net profit at ₹4,350.32 crore for the March quarter compared to the year-ago period mainly on the back of lower expenses. The company’s standalone net profit in January-March 2018 was ₹2,925.59 crore, an NTPC statement said. The company’s total […]
Two former Ostro executives to set up clean energy firm
NEW DELHI: Ranjit Gupta and Murali Subramanian, the former head honchos of global private equity firm Actis Llp’s Ostro Energy Pvt. Ltd, are in talks with Singapore’s state investment firm Temasek Holdings Pte. and Swedish private-equity firm EQT Partners to raise around $500 million to set up a green energy platform in India. Gupta and […]
Adani Green Energy’s 8.75 crore shares to be offered for sale on Tuesday
New Delhi: Adani Green Energy said on Monday that two of its promoters Adani Tradeline LLP and Universal Trade and Investment together would offer 8.75 crore equity at an offer price of ₹43 per piece on Tuesday. The offer for sale would open for one day on Tuesday, 21 May 2019, stated a BSE filing. […]
India to frame indigenous EV charging station norms
NEW DELHI: In a first, India plans to come up with its own standards for charging stations for its emerging electric vehicle (EV) ecosystem. To start with, the Bureau of Indian Standards (BIS) and the Department of Science and Technology (DST) are working on an indigenous charging standard that will also help reduce the cost […]
JSW Energy back in black in Q4, posts ₹5.79 crore net profit
MUMBAI: JSW Energy, the power generation business of the Sajjan Jindal-promoted JSW Group, reported net profit of ₹5.79 crore for the March 2019 quarter, against a loss of ₹480.05 crore in the same period last year. Revenue from operations rose 8.4% over the same period to ₹1924.58 crore with consolidated plant load factors (PLF) at […]
ExxonMobil may tie up with GAIL to set up green energy platform
NEW DELHI: ExxonMobil Corp., the world’s most valuable energy company, may shortly form a partnership with state-owned GAIL (India) Ltd to set up a green energy platform in India. The US oil firm’s increasing focus on India is an acknowledgement of the growing importance of the world’s third largest energy consumer. The proposed joint venture […]
ICICI Bank-Videocon case: Kochhars appear before ED again
NEW DELHI: Former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar Tuesday again appeared before the Enforcement Directorate here in connection with an alleged bank loan fraud and money laundering case registered against them. They were questioned by the agency on Monday for over eight hours. This was the first time they were […]
Tata Power and MGL join hands to foray into e-mobility and other services
Mumbai: Tata Power, India’s largest integrated power utility, and city gas distribution company Mahanagar Gas Limited (MGL), have signed a Memorandum of Understanding (MoU) to foray into emerging e-mobility business, explore synergies of operation in integrated customer services and other value-added services of common interests, Tata Power said today. The MoU was signed by Sanjib […]