JSW Energy will be watched on plan to raise funds

JSW Energy said that its board will meet on 27 December 2016, to consider raising long term funds through the issuance of non-convertible debentures by way of a private placement. The announcement was made after market hours yesterday, 22 December 2016.

Hinduja Ventures said that its board of directors has approved the disinvestment of 4.36 crore equity shares of Rs 10 each held by the company in Hinduja Energy (India), in tranches, as per independent valuation of Rs 31.58 per share to third party. The announcement was made after market hours yesterday, 22 December 2016.

Suzion Energy announced a joint venture with the AMP Solar for the development and construction of a 15 megawatts (MW) solar pv project located at Achampet in Telangana. According to the contract signed between Suzlon Energy and the AMP Solar on 21 December 2016, the AMP Solar shall acquire a 49% stake in Rudra Solarfarms, a special purpose vehicle (SPV) set up by Suzlon for executing this project. AMP Solar has the option to acquire the balance of the 51% stake in the SPV in the future in accordance with the relevant rules and regulations. The off taker of the SPV project will be the Telangana State Southern Power Distribution Company (TSSPDCL). Suzion will be responsible for project commissioning and to provide comprehensive operation and maintenance services for a period of 25 years. The project is expected to be commissioned in the financial year 2017 (FY 2017). Suzlon won solar projects of 210 MW in Telangana through a competitive bidding process and the power purchase agreements (PPAs) for the same were signed in February 2016. These include one project of 100 MW, one of 50 MW and four projects of 15 MW each. The announcement was made after market hours yesterday, 22 December 2016.

Voltamp Transformers said that few of contract workmen at the company's Savli factory situated at Village Vadadala in Vadodara, Gujarat resorted to violent act on 20 December 2016 with the company's production supervisors, outside factory premise. The company suspended Savli factory operations effective from 21 December 2016 to ensure safety and security of the company's employees and property. However, operations at the company's Makarpura factory situated at Vadodara, Gujarat are totally normal. The announcement was made after market hours yesterday, 22 December 2016.

Karnataka Bank said it opened its 738th branch at Thakurli in Thane district on 22 December 2016.

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