State-owned REC will have to obtain consent of at least 50 per cent of the foreign lenders before the company could be acquired by PFC as part of the disinvestment plans approved by the Cabinet. REC’s cumulative foreign debt stands at around USD 1.85 billion which will mature in phases till 2028 and the state-owned […]
Category: Power
Power
Fuel cell EVs may be complementing tech in India’s future mobility: Report
Supply-side constraints may prove to be an obstacle in battery-driven electric vehicles becoming the only technology for future mobility in India and hydrogen-powered fuel cell EVs could become a complementing technology in future, according to a study by KPMG. In a report titled ‘Automotive fuel: Racing towards a multipolar world’, KPMG said battery electric vehicles […]
Adani Power, Adaro, NLC in race to buy some IL&FS assets
MUMBAI: Indonesian coal miner Adaro, Adani PowerNSE 0.76 % and state-run NLC India are among a dozen companies that have expressed interest in buying IL&FS Tamil Nadu Power and related assets of the debt-laden IL&FS group, two people familiar with the matter said. Along with the thermal plant in Cuddalore, the group is looking to […]
Alstom to provide electrification for Phase II of Bengaluru Metro
BENGALURU: France-headquartered AlstomNSE 1.09 % has been awarded a contract to provide power supply and traction electrification for the 33-kilometre extension to Bengaluru Metro under Phase II. Worth around Rs 580 crores, it is Alstom’s largest third-rail electrification contract in India. The Phase II project of Bengaluru Metro encompasses four extensions of Metro’s existing North-South […]
Pledged share sale: Mumbai HC gives a mouthful to Anil Ambani firm, says petition ‘smacks of deceit’
The Bombay High Court has rapped the Anil Ambani group company Reliance PowerNSE 1.79 % and its management for attempting to “mislead” the court by a petition that’s “smacked of deceit.” The sharp words came from judge KR Shriram of the Bombay High Court while hearing a Rs 2,700-crore defamation suit filed by Reliance Power […]
You need not pay your power bill. Here’s how
NEW DELHI: How would you like not paying your electricity bill at all? That’s possible. No, it’s not about an election-time promise by a political party. It’s about the new technology which is now commercially available — the solar power. It’s environment friendly as well as cost effective. It can cut your electricity bill by […]
GIC, ADIA to power Greenko again with $550m cheque
Sovereign wealth funds GIC Holdings Pte Ltd of Singapore and Abu Dhabi Investment Authority (ADIA) are investing $550 million of fresh primary capital in Greenko, India’s largest renewable energy firm. This will be the third round of capital infusion by the two, making the Hyderabad-based company the biggest recipient of foreign capital in the clean […]
RPower promoters aim at Rs 2,500 cr from stake sale
NEW DELHI: Sovereign wealth funds of Qatar and Abu Dhabi as well as private equity major KKR have evinced interest in investing in Reliance PowerNSE -0.46 %, where promoters plan to sell part of their direct holdings to raise Rs 2,500 crore, investment banking sources said Tuesday. Part of the diversified Anil Ambani group, Reliance […]
After IBC war Ruias & ArcelorMittal talk deal for Hazira port & power plant
MUMBAI: Essar Group has discussed the sale of its captive port and power plant in Hazira, Gujarat, for Rs 8,500-10,000 crore with ArcelorMittal, multiple people aware of the discussions said. In a sign that the London-based steelmaker has gained an upper hand in the race to buy out Essar Steel, a team led by the […]
Despite concerns, Ladakh solar plan attracts 50 companies
The government’s ambitious plan to set up a 7,500 mw (mega watt) solar power project at an estimated investment of Rs 45,000 crore in Jammu & Kashmir’s Ladakh region has whetted the appetite of some 50 topline companies, even as tariff emerged as the key concern. Prospective investors, including major manufacturers, raised a host of […]
India’s solar capacity at 28 GW at Dec-end: Bridge To India report
The country’s total solar power generation capacity, including 3.85 gigawatt (GW) rooftops, stood at 28.05 GW while 17.65 GW was under implementation as on December 31, 2018, according to a report by Bridge To India (BTI). The quarterly market report, titled ‘India Solar Compass Q4 2018’, gives a detailed analysis of capacity addition, tender issuance, […]
Gujarat solar auction: UPC Energy Group, Adani Green Energy, ReNew Power winners
BENGALURU: US-based UPC Energy Group, Adani Green Energy, ReNew Power and Orange Renewables are among the winners in Gujarat’s 500 MW solar auction, which evoked aggressive bids, with the lowest offer of Rs 2.55 per unit. “The tariff appears to be pretty low, and more so for a 50 MW project because scale also plays […]