While only half of this fiscal’s estimated disinvestment revenue of Rs 80,000 crore has so far been garnered, a robust pipeline of transactions, including a large PSU-to-PSU deal and about half a dozen buybacks by PSUs, will ensure that the target be met without too much reliance on private/retail investors in the remainder of the […]
Category: Power
Power
Suzlon Energy shares hit new low, tank 24% on default rumours
Wind turbine manufacturer Suzlon Energy’s shares touched a record low of Rs 2.70 a piece on Tuesday on the BSE on rumors that the company may default on its FCCB payments due in July. Shares closed the day 24% down from the previous close at Rs 3.63. The rumours were denied by the company as […]
NTPC threatens to cut supply to AP, Karnataka,Telangana
With outstanding dues spiralling to nearly Rs 6,000 crore, state-owned power generation company NTPC has threatened to cut supplies to the electricity distribution companies of Andhra Pradesh, Karnataka and Telangana from Wednesday if the bills are not cleared soon.
Indian court rejects Tata Steel’s move to block rival bids for Bhushan Power
An Indian appeals tribunal has ruled against Tata Steel Ltd’s effort to dismiss rival bids for Bhushan Power and Steel, boosting JSW Steel Ltd’s offer to buy the indebted steel maker.
Govt floats tender to tie up 2.5 GW PPAs with stranded plants
After the pilot scheme to procure electricity from 2,500 MW capacity without power purchase agreements (PPAs) evoked a lukewarm response from the industry, the Union power ministry has floated the second round of a similar tender where it has sweetened a few bid conditions to attract more independent power plants.
Power Grid Corp Q3 profit rises 14.2% to Rs 2,368 crore
Power Grid Corporation of India (PGCIL), the central transmission utility of the country, recorded a 14.2% year-on-year (y-o-y) rise in net profit to Rs2,367.8 crore for the quarter ended December 31 as revenue from power transmission — its main business segment — grew nearly 13% y-o-y to Rs8,271.9 crore.
Third project under maiden wind auction begins power supply
Uttar Pradesh, Bihar, Jharkhand and Assam have started receiving wind-based electricity from Mytrah Energy’s 128.7 MW project in Tamil Nadu, power trader PTC India said on Wednesday.
Piyush Goyal awarded Carnot Prize for “pathbreaking transformations in India’s energy sector”
Union Finance and Railways Minister Piyush Goyal has been awarded the 4th Carnot prize by Kleinman Center for Energy Policy at the University of Pennsylvania for his work in sustainable energy solutions and was felicitated today by a team from University of Pennsylvania who came to India.
Essel Group to sell solar business to Actis
Essel Infraprojects is in the final stages of discussions to sell its solar energy portfolio to private equity investor Actis, according to sources. The sale of the portfolio, totaling 685 mw of installed and under-construction projects, could fetch the company about Rs 4,500-5,000 crore, sources told FE.
JSW energy Q3 profit trebles to Rs 146 crore
JSW Energy’s net profit for the December quarter rose three-fold on-year to Rs 146.13 crore as operating margins rose 114 basis points, and sales realisations improved during the period.
Chanda Kochhar indicted in ICICI-Videocon case; former top boss violated code of conduct, finds enquiry
The Justice Srikrishna panel, set up to independently enquire the allegations of quid pro quo in the controversial Videocon loan case, has indicted Chanda Kochhar, the former CEO and MD of ICICI Bank. The bank has said that the independent enquiry has found the former top boss in violation of code of conduct.
Power transmission projects: Less than 18% of Rs 10,894-crore funds utilised
Thanks to slow implementation of schemes aimed to de-congest electricity transmission networks, less than a fifth of Rs 10,894 crore sanctioned by the Union power ministry from the Power System Development Fund (PSDF) since 2014 has been utilised so far.