New Delhi: State-run power giant NTPC on Wednesday said it launched on Tuesday a medium term notes (MTN or bond) issue to raise $450 million (approx ₹3,105 crore), which is a part of its $6 billion (approx ₹41,400 crore) MTN programme. The MTNs are also know as bonds in the overseas markets. The issue would […]
Category: Power
Power
NTPC raises $450 million from international market
NEW DELHI: State-run power giant NTPC Wednesday said it has raised $450 million (about ₹3,105 crore) through five-year bond offering in the international market under its $ 6 billion (about ₹41,400 crore) medium term notes (MTN) programme. NTPC had opened the issue of $ 450 million five-year bond offering in the international market on Tuesday, […]
Norway’s Statkraft eyes hydropower projects in India
New Delhi: Norwegian state-owned electricity company Statkraft is actively scouting for hydropower opportunities in North India, including buying out stressed assets. The attempt by Europe’s largest green energy producer comes in the backdrop of the National Democratic Alliance (NDA) government changing regulations governing the beleaguered sector earlier this month. Of around 66 gigawatts (GW) capacity […]
PFC may announce REC’s management control today
New Delhi: State owned Power Finance Corporation (PFC) may announce its acquisition of management control in REC Ltd today. The buyout of the government’s entire stake in the power sector lender by PFC clears the decks for the creation of a $80 billion lending institution for the Indian power sector and is expected to reduce […]
US markets: Tech, energy shares prop up Wall Street
Bengaluru: Wall Street’s main indexes rose on Tuesday, as Apple and chipmakers boosted technology shares, while higher oil prices lifted energy companies. The gains come after two sessions of declines, triggered by fears of slowing global economic growth and an inversion of the US Treasury yield curve for the first time since 2007 that followed […]
PFC to pay entire ₹14,500 crore for REC acquisition on Thursday
NEW DELHI: State-owned Power Finance Corporation (PFC) on Thursday will make the entire payment of ₹14,500 crore to the government for acquiring 52.63% stake in REC, a source said. The deal would help the government meet its disinvestment target of ₹80,000 crore for the current financial year ending on 31 March. “The entire consideration of […]
Kalpataru Power buys 85% stake in Swedish firm Linjemontage
Mumbai: Power and infrastructure EPC services provider Kalpataru Power Transmission Ltd (KPTL) has signed a definitive agreement to acquire a 85% equity stake in Linjemontage i Grastorp AB (LMG) for an enterprise value of $24 million, the company said in a stock exchange filing on Monday. LMG is an EPC (engineering, procurement and construction) firm […]
Tata Power inks pact to sell EEPL for $11 million
NEW DELHI: Tata Power on Monday said its arm Coastal Gujarat Power inked a share sale pact to sell its 100% stake in Energy Eastern to Trust Energy Resources for $10.19 million. “Coastal Gujarat Power Limited (CGPL), a wholly owned subsidiary of the Company has signed a Share Purchase Agreement (SPA) on March 25, 2019 […]
BHEL powers up but not enough to light up investor portfolio
Bharat Heavy Electricals Ltd’s (BHEL’s) shares have risen 20% from a 52-week low of ₹56.20 in early February. Lower valuations, along with a pickup in order books and operating margins, have helped the stock. But note that BHEL is still at about half the levels it was two years ago. At a price-to-earnings multiple of […]
Private power firms see increased risk of NPAs—as much as ₹3 trillion
New Delhi: As much as ₹3 trillion of investment in a dozen private power plants is at risk of turning into NPA as state discoms buying power have not been making payment for months, official data and sources said. According to data available on the PRAAPTI portal of the power ministry, 12 power plants of […]
Tata Power SED bags ₹1,200 crore contract from defence ministry
NEW DELHI: Tata Power Strategic Engineering Division (SED) has bagged a ₹1,200 crore contract from the defence ministry for supply of ship-borne 3D air surveillance radars. Tata Power SED has signed a deal with the Ministry of Defence to supply 23 ship-borne 3D Air Surveillance Radars to the Indian Navy over the next 10 years, […]
Power Grid Corporation pays ₹1,600 crore interim dividend to govt for 2018-19
NEW DELHI: State-owned Power Grid Corporation said Friday that it has paid ₹1,629.62 crore as interim dividend for 2018-19 to the central government. Power Grid Corporation handed over electronic payment remittance advice for payment of ₹1,629.62 crore for 2018-19 to the Government of India, a company statement said. The total interim dividend disbursed was ₹3,050.02 […]