Page 37 - Adani Group

Mahayuti govt has spent its last days bestowing gifts on Adani Group: Cong

The Congress on Tuesday claimed that the Mahayuti government in Maharashtra knows it is not coming back to power and has spent its last few days allegedly bestowing "gifts" on the Adani group at the expense of the people of Mumbai and the state. Ahead of the announcement of the Maharashtra Assembly polls schedule, Congress general secretary in-charge communications Jairam Ramesh said the instructions from the top are clear -- "the Mahayuti's electoral future is bleak, but before it loses power, it must safeguard Modani's financial future". "The ECI is expected to announce the Maharashtra Assembly Elections today at 3:30 PM. A desperate Mahayuti knowing it is not coming back to power has spent its last few days bestowing gifts to Modani at the expense of the people of Mumbai and Maharashtra," Ramesh said in a post on X. Listing the alleged favours to the conglomerate, Ramesh said, "September 15 2024: Modani wins energy contract to supply 6,600 MW power to Maharashtra at inflated ...

Adani Energy Solutions acquires 2 SPVs from PFCCL for about Rs 38 cr

Adani Energy Solutions Ltd (AESL) on Tuesday said it has acquired two project special purpose vehicles from PFC Consulting Ltd for cash consideration of about Rs 38 crore. In two separate BSE filings, AESL stated that on October 14, 2024 it executed share purchase agreements with PFC Consulting Ltd (PFCCL) for acquiring 100 per cent equity shares of Jamnagar Transmission Ltd and Navinal Transmission Ltd. PFCCL, a subsidiary of Power Finance Corporation, received a cash consideration of Rs 19,28,48,589 for JTL and Rs 19,14,40,997 for NTL. Jamnagar Transmission Ltd (JTL) is established for the development of network expansion scheme in Gujarat for drawl of about 3.6 GW load under Phase-I in Jamnagar area. Navinal Transmission Ltd (NTL) aims drawl of up to 4.5 GW load in Mundra area of Gujarat from bulk consumers/ distribution licensee and green hydrogen.

Adani Energy signs pact to operate electricity transmission lines in Kenya

Indian billionaire Gautam Adani-led conglomerate has signed a pact to build and operate key electricity transmission lines in Kenya for 30 years, the African nation's Cabinet Secretary for Energy Opiyo Wandayi said. Adani Energy Solutions Ltd signed a project agreement with the Kenya Electricity Transmission Company Ltd (Ketraco). "This agreement marks the beginning of a transformative initiative to develop, finance, construct, operate, and maintain key transmission lines and substations across Kenya," he said in a press statement. Kenya faces persistent power blackouts and the projects awarded to Adani are to upgrade the country's transmission infrastructure to ensure reliable power. "As part of this infrastructure development, the project company (AESL) will raise all the funding in the form of debt and equity that will be repaid over the 30-year period of the project agreement," he said. "The project cost, that is currently estimated at Kenyan shilling 95.68 billion (USD 736 ...

Adani Enterprises raises $500 million via share sale to insurance, MF firms

Adani Enterprises in May approved raising up to $2 billion through modes including a so-called QIP method used by listed Indian companies to raise funds from large institutions

Adani Airport Holdings teams up with Thales for cloud-based solutions

Adani Airport Holdings (AAHL) and Thales have joined hands for the implementation of cloud-based solutions at AAHL managed airports in India for streamlining the operations

Adani Group plans 10 GW overseas hydroelectric projects over next few yrs

While the group is mostly focussed on building pumped hydro storage in India, it is drawn to countries that have favourable topography and demand for hydropower

Adani group seeks $1 bn funding from sovereign fund for airport expansion

Adani Enterprises launched a qualified institutional placement (QIP) aiming to raise up to Rs 4,200 crore ($500 million), lower than planned due to market fluctuations

Adani Enterprises declines 3% after launching Rs 16,000-crore QIP issue

The company's board had approved a total fundraising of Rs 16,600 crore by the way of QIP or other modes in one or more tranches, on May 23, 2024.

Adani Group stocks in focus; Energy Solutions, AEL rally up to 6%

Shares of Adani Energy Solutions, Adani Ports, Adani Enterprises, Adani Power, Adani Green Energy, Adani Total Gas, Adani Wilmar and Ambuja Cements were up in the range of 2 to 6 per cent.

Major cement firms compete to acquire HeidelbergCement India's stake

The German building materials company Heidelberg Materials AG holds a 69.39 per cent stake in its Indian subsidiary, which, at current market rates, is valued at approximately Rs 3,437 crore

Adani in talks to acquire Heidelberg's Indian cement unit for $1.2 billion

The potential deal is the latest in Adani Group's massive expansion push in the cement sector. The company entered the industry in 2022 by acquiring Holcim's stake in Ambuja Cement

Adani Group starts India's biggest hydrogen blending in natural gas project

Adani group has started blending green hydrogen in natural gas that is supplied to households for cooking purposes in parts of Ahmedabad, with a view to cut emissions and meet net-zero targets. Adani Total Gas Ltd, the group's city gas joint venture with French energy giant TotalEnergies, has started blending 2.2-2.3 per cent of green hydrogen in piped natural gas supplies in Shantigram in Ahmedabad, the firm said in a post on LinkedIn. Hydrogen produced through clean pathways is injected into natural gas pipelines, and the resulting blends are used to generate heat and power with lower emissions than using natural gas alone. The firm has started producing green hydrogen by using renewable energy sources like wind or solar power, to split water into hydrogen and oxygen through a process called electrolysis. This hydrogen is blended in natural gas that is currently piped to households for cooking purposes and industries. "We are thrilled to announce the successful commissioning of o

Highlights: Protesting junior doctors say will fast unto death over Bengal govt's apathy

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Moody's assigns Baa3 rating to Adani Green Energy's senior secured notes

Moody's Ratings on Friday assigned Baa3 rating to Adani Green Energy Hybrid Restricted Group's USD 1.2 billion senior secured notes. Adani Green Energy Hybrid Restricted Group (RG-3) is a newly created restricted group comprising four indirect wholly-owned subsidiaries of Adani Green Energy Ltd (AGEL), Moody's said in a statement. The four subsidiaries of AGEL are Adani Hybrid Energy Jaisalmer One Limited, Adani Hybrid Energy Jaisalmer Two Limited, Adani Hybrid Energy Jaisalmer Four Limited and Adani Solar Energy Jaisalmer One Private Limited. Moody's said it "has assigned a Baa3 rating to the 20-year USD1.2 billion backed senior secured notes to be issued by RG-3." Each of the restricted subsidiaries will be an issuer for a portion of the notes, and a guarantor to the remaining notes. Proceeds from the notes will be used to refinance part of the USD 1.3 billion outstanding senior debt of RG-3's restricted subsidiaries. RG-3 intends to repay the balance of the existing debt using

Adani Group plans to invest $900 mn in Tanzania power lines in PPP mode

Adani Group has expressed its interest to the East African government, according to David Kafulila, executive director of Tanzania's Public-Private Partnership Centre

Adani and Google announce collaboration to boost clean energy in India

Adani Group will supply renewable energy generated from a new solar-wind hybrid project located at Khavda, Gujarat, to Google from 2025

ITD Cementation surges 18% on Adani play; has zoomed 122% so far in 2024

ITD Cementation had announced on July 3, 2024, that its promoter Italian Thai Development (ITD) Public Company Limited is exploring a potential divestment of its investments in the company.

Adani Group merges two energy infrastructure subsidiaries with ANIL

Adani group has merged two step-down subsidiaries with green hydrogen and wind turbine manufacturing firm Adani New Industries Ltd, according to a stock exchange filing on Wednesday. "Adani Infrastructure Private Limited and Mundra Solar Technology Limited stands amalgamated with Adani New Industries Limited, a wholly owned subsidiary of the company," Adani Enterprises Ltd, the group's flagship firm said in the filing. Adani Infrastructure and Developers operates as a real estate company, constructing and developing thermal and solar power projects as well as providing engineering, techno-commercial, project management and control, and commissioning services. Less than three years old Mundra Solar Technology is involved in production, collection and distribution of electricity. Adani New Industries Ltd (ANIL) is a subsidiary of Adani Enterprises Ltd that undertakes low-carbon projects. It undertakes green hydrogen projects, manufacturing of wind turbines and solar modules batteries

Adani's about $1.3 billion share sale likely to start next week: Report

Adani Enterprises Ltd. is looking to raise about $1.3 billion through a so-called qualified institutional placement and is expected to start the process as early as the week starting Oct. 7

Adani Power signs agreement to acquire Dahanu Power for Rs 815 crore

In a two-step deal, AESL transferred the asset-holding subsidiary to Adani Properties, which in turn sold it to Adani Power