New Delhi: There has been a global pivot towards clean energy sources with the energy dynamics been fundamentally altered. According to International Renewables Energy Agency (IRENA), a third of global power generation capacity or 2,351 giga watt (GW) is now being fuelled by renewable energy sources. A 2 April IRENA report said that 171 GW […]
Category: Power
Power
JSW Energy scrapping its EV plans gets applause, question of growth remains
JSW Energy Ltd’s decision to scrap its plans to enter the electric vehicle (EV) segment has brought much relief to its investors. The stock has risen in recent trading sessions, although it gave up some of those gains on Wednesday. According to Motilal Oswal Securities Ltd, the company spent ₹25 crore to set up a […]
Actis in talks to buy Engie’s India solar power business
New Delhi: Private equity (PE) fund Actis Llp is in talks to buy the Indian solar power business of French energy firm Engie SA, in what may rank among the largest deals in the local renewable energy space, according to a person aware of the development. Engie Solar, which has an 810 megawatt (MW) solar […]
Tata Projects bags $321 million order from NPCIL
NEW DELHI: Tata Projects Wednesday said it has received order worth USD 321 million (around ₹2,182 crore) from Nuclear Power Corporation of India (NPCIL). This 2×700 MW power plant order, valued around $321 million, is the company’s third contract in the nuclear power sector, a company statement said. The scope of work involves construction of […]
RBI 12 February circular quashed gives power sector some breathing space
Mumbai: The striking down of the Reserve Bank of India’s (RBI’s) 12 February 2018 circular, which would have fast-forwarded defaulting companies to bankruptcy court, will now save stressed power assets from immediate liquidation, according to power sector executives. The private sector has 34 stressed projects totalling installed capacity of over 40 gigawatts (GW) and a […]
Supreme Court order on NPAs: Power firms body heaves a sigh of relief
MUMBAI: Welcoming the Supreme Court ruling quashing the RBI circular on resolution of stressed assets, the Association of Power Producers on Tuesday said it will give some breather and flexibility to restructure their debt. The apex court quashed the RBI circular of 12 February , 2018, that made it mandatory for banks to recognize even […]
CPPIB may invest in Piramal’s renewables, roads platforms
Mumbai: The Ajay Piramal-led Piramal Group, which has set up platforms to acquire operating renewable energy and roads assets, has roped in Canada’s largest pension fund manager Canada Pension Plan Investment Board (CPPIB) as an anchor investor, said two people aware of the development. In July 2018, Piramal Group chairman Ajay Piramal had said in […]
Sprng buys Shapoorji Pallonji’s solar assets
NEW DELHI: Global private equity fund Actis Llp’s renewable energy platform Sprng Energy on Friday acquired 194 megawatts (MW) of Shapoorji Pallonji group’s solar assets for an enterprise value of $200 million, two people aware of the development said. Standard Chartered and Credit Suisse were the investment bankers for Actis and Shapoorji Pallonji group for […]
New capacities, improved coal availability to add heft to NTPC earnings
NTPC Ltd has ended FY19 on a high note. The company commercialized capacity of 910 megawatts (MW) last week and, according to JM Financial Institutional Securities Ltd, is in the process of commercializing two more units with a combined capacity of 1,600MW. Of course, project commissioning is still behind schedule. Requests by power distribution companies […]
26.02 million households get electricity connections under Saubhagya scheme
New Delhi: Almost all Indian homes targeted under the National Democratic Alliance (NDA) government’s marque Pradhan Mantri Sahaj Bijli Har Ghar Yojana or Saubhagya have got electricity connections, according to the data available on the scheme’ website. Of 26.04 million households targeted under the scheme, 99.93% or 26.02 million households have got electricity connections as […]
REC deal makes PFC $80 billion lending behemoth
New Delhi: Power Finance Corp. Ltd (PFC) has completed the purchase of a controlling stake in state-run peer REC Ltd that will create an $80-billion lending giant by assets and potentially help in faster resolution of stressed assets in India’s power sector. PFC paid ₹14,500 crore to the Union government to buy a 52.63% stake […]
PFC-REC merger impact: REC’s relief rally turns into irrational exuberance
REC Ltd is set to become a subsidiary of Power Finance Corp. Ltd (PFC). The big question now is: Will investors continue to see a spark in the stock or prefer to go short? REC’s stock has been on an electrifying run since its acquisition by PFC was announced. The stock gained 49.3% since 1 […]