Even as IndiGo spat deepens with the government asking SEBI to probe the role of all board members and every entity linked to promoters’ groups, ‘pan ki dukaan’ (betel shop) is making headlines for some interesting reason. It all started when one of the warring partners and airline co-founder Rakesh Gangwal, who holds 37 per […]
Category: The Financial Express
The Financial Express
Power purchase agreement: Honour contracts, don’t halt growth, Centre tells Andhra Pradesh
In an attempt to persuade Andhra Pradesh chief minister YS Jaganmohan Reddy against revising power purchase agreements (PPAs) with renewable power producers, which is seen as a blow to the sanctity of contracts and could potentially hurt investor sentiments, Union power minister RK Singh has written to the state to take a cautious approach in […]
BHEL wins Rs 100 crore order from NTPC to set up solar power plant in Andhra Pradesh
State-owned engineering firm BHEL Sunday said it has bagged a Rs-100 crore order from NTPC for setting up a 25 MW floating solar photovoltaic power plant at Simhadri in Andhra Pradesh. The plant will be set up on the raw water reservoir of NTPC’s Simhadri Thermal Power Plant, BHEL said in a statement. “BHEL has […]
IndiGo promoter spat: Rahul Bhatia group says Rakesh Gangwal limited his financial risks
Asserting that the arrangement between the promoter groups has been transparent from inception at IndiGo, Rahul Bhatia group Sunday claimed that Rakesh Gangwal always limited his financial risks and was making insidious efforts to create an unseemly controversy about corporate governance. In a reflection of the deep differences between the two promoter groups, InterGlobe Enterprises […]
Renewable Energy: India received $4.8 billion FDI in last five years
Foreign Direct Investment: Prime Minister Narendra Modi’s big push to increase the generation of renewable energy in the country has received foreign direct investment worth $5 billion during his first tenure. Prime Minister Modi has set an ambitious target of generating 175 gigawatts of renewable energy by 2022 when India completes 75 years of its […]
Over 92% under-construction private power units face uncertainty
Out of the 23,730 MW of private thermal power plants currently under construction, only projects with 1,825 MW have announced the commissioning date, while others are listed as “uncertain”, according to a reply tabled in Parliament by the government. Power minister RK Singh also informed the house that 20,420 MW and 20,186 MW of thermal […]
Summer, elections raise plant load factors of private power players in Q1
Buoyed by surge in power demand, electricity produced by conventional power plants in Q1FY20 reached 339 billion units (BUs) — a rise of 6.3% year-on-year (y-o-y) — increasing the plant load factors (PLF) of private generation units by 471 basis points to 59.8%. Hydro power plants produced 39.5 BUs in the quarter, 25% more than […]
Renewable energy sector received $1.5-billion FDI in FY19
The renewable energy sector received $1.5 billion of foreign direct investment (FDI) in FY19, 20.1% higher than the previous fiscal, power minister RK Singh informed Parliament on Thursday. In the five-year period since FY15, FDI in the sector has been $4.8 billion. The government had allowed 100% FDI in the sector through the automatic route. […]
Reliance Infrastructure lenders sign pact for debt resolution
Anil Ambani-led Reliance Group firm Reliance Infrastructure said Thursday its lenders have signed an inter-creditor agreement (ICA) for the resolution of debt. Reliance Infrastructure (RInfra), which is sitting on a debt of over Rs 6,000 crore and aims to be debt free in 2020 has, to implement its resolution plan before 180 days. “Reliance Infrastructure […]
Indigo crisis: Govt wants Sebi to get deeper into promoters’ spat, expand probe to all board members
The government wants market regulator Sebi to probe role of all board members and every entity associated with the two main promoter groups of InterGlobe Aviation and take strict action for all wrongdoings, officials said. InterGlobe Aviation is the parent of the country’s largest airline IndiGo. There are indications about violations of corporate governance, fair […]
Anil Ambani’s RInfra aims to be debt-free in 2020, all 16 lenders sign resolution pact
Reliance Infrastructure on Thursday informed the stock exchanges that all the 16 lenders had signed the inter-creditor agreement (ICA) for resolution of the account. The stock ended up 11% to Rs 51.05. “Reliance Infrastructure is confident of implementing its resolution plan well before the 180-day deadline based on advanced progress of its various asset monentisation […]
Air India looks to sell out of trouble, identifies 30 plots in metros for sale
Air India has plans to sell 30 unutilised tracts of land in cities like Mumbai and Delhi to retire the debt transferred to special purpose vehicle Air India Asset Holding, civil aviation minister Hardeep Singh Puri told Parliament on Thursday. These land parcels include 1.7 lakh sq m and 14,326 sq m plots in Mumbai […]