GMR Energy

The IREDA scrip surged as much as 7.21 per cent to hit an intraday high of Rs 239.35 per share.

GMR Power and Urban Infra Limited (GPUIL) on Monday said its arm GMR Smart Electricity Distribution Company has bagged a Rs 7,593-crore smart metering project in Uttar Pradesh. The project has been secured under the Revamped Distribution Sector Scheme (RDSS) programme of the government of India. "Subsidiary GMR Smart Electricity Distribution Pvt. Ltd has been awarded a prestigious order worth Rs 7,593 crore. The order, received under the DBFOOT (Design, Build, Finance, Own, Operate, and Transfer) model, entails 75.69 lakh prepaid smart meters across two discoms, Dakshinanchal Vidyut Vitran Nigam Limited (DVVNL) and Purvanchal Vidyut Vitaran Nigam Limited (PuVVNL), making it the largest combined package order of its kind," it said. The project will span 22 districts covering prominent areas such as Varanasi, Prayag Raj, Agra, Mathura, and Aligarh, among others. Srinivas Bommidala, Chairman Energy, GMR Group, said: "These wins underscore GMR's commitment to pivot into green and ...

Loans would be repaid progressively over 15 years, giving the company additional time of about seven years to extinguish the liability

Acquisitions by Tata Power, Adani Power & JSW Energy were profitable in FY20

This will be the first airport company to be listed on the Indian stock exchanges

In May, the sale of GMR Energy's entire stake in GMR Kamalanga Energy to JSW Energy was put on hold due to Covid-19 outbreak

Barring a few, all privately-owned thermal power units, roughly about 40,000 Mw, constructed over the past decade were built using Chinese equipment.

Launched on Monday, the platform - set up by the Indian Energy Exchange - has so far traded 100 mmBtu gas.

Adani Power, GMR Energy, Avantha Power, Lalitpur Power, and Vedanta are some of the private companies that have applied for the 'import substitution' scheme of the Centre

Deal is part of a debt resolution plan approved by GMR's lenders; The power plant subsidiary ran into financial trouble owing to absence of a long-term PPA

GMR's 1,370 Mw project, which has an outstanding debt of over Rs 5,800 crore, ran into trouble due to the absence of a long-term PPA, though it had a short-term agreement with Gujarat

JV will provide operation and maintenance services and other services for power plants in India

GMR Energy today signed an agreement with Malaysia's TNB Repair and Maintenance Sdn Bhd (TNB Remaco) for setting up an operations and maintenance (O&M) joint venture. TNB Remaco is Malaysia's premier specialist in power plant repair and maintenance with a proven track record of over 30 years. It is the repair and maintenance arm of Tenaga Nasional Berhad (TNB), the largest power utility player in Malaysia. TNB had recently invested USD 300 million (Rs 2,000 crore) in GMR Energy to take up a 30 per cent equity stake in select portfolio of GEL assets on a fully diluted basis. "The O&M joint venture between GMR Energy and TNB Remaco will provide operation and maintenance services, performance improvement, testing and diagnostic, repair and refurbishment services for power plants in India," a company statement said here. For this purpose, the JV plans to set up a refurbishment and maintenance facility in India. This will be the first time that TNB Remaco shall .

Last Friday, GMR completed the transaction of allotting 30% stake in GMR Energy to Tenaga for a cash consideration of $300 mn

Proceeds from deal with Malaysian firm to be used for retiring Rs 2,000-cr debt