Page 23 - Power Sector

Torrent Power and Sembcorp Industries in race to buy Vector Green Energy

The transaction is expected to have an equity value of 30 billion rupees ($377 million) and an enterprise value of 50 billion rupees

Rise in power demand leads to 17% hike in coal supply in July

The overall coal production also went up by 11.37 per cent to 60.42 MT in July as against 54.25 MT in the year-ago period

PowerGrid Q1 consolidated net profit declines 37% to Rs 3,801 crore

Q1 PAT dropped by 8.55 per cent from ₹4,156.44 crore in the preceding quarter

Financial deficit of power distribution sector at highest ever: PFC

Annual rating reveals absolute cash-adjusted losses increased by 10% in the sector between FY19 and FY21

AIPEF Chairman says claims of choice to power consumers 'misleading'

The claim of providing choice of multiple service providers to power consumers in the Electricity Amendment Bill 2022, is "misleading" and will make state-run discoms loss making entities

Govt planning contentious laws to cut power utility debt worth Rs 6 trn

Key proposals include allowing more utilities to operate within the same circles, mandating regulators to set tariffs based on market costs, and defining payment procedures and deadlines

Centre revokes mandatory coal import target after many flip-flops

NTPC and Coal India had awarded import contracts to Adani

Clear your power dues, PM Modi reminds states; here is what they owe

States and UTs, in total, owe over Rs 1 trillion to gencos and about Rs 1.3 trillion to discoms, with Maharashtra owing the maximum

PM Modi urges states to clear power utilities' dues of Rs 2.5 trillion

PM Modi highlighted the financial problems being faced by the power utilities and asked the states to clear the dues as soon as possible

PM urges states to clear power firms' dues; launches 2 hydrogen plants

Prime Minister Narendra Modi on Saturday asked the state governments to clear power sector companies' dues which are estimated at around Rs 2.5 lakh crore

Distressed discoms, high demand: What is ailing India's power sector?

Indian states and union territories (UTs) owe over Rs 1 trillion to the gencos and Rs 62,931 crore to the discoms

Tamil Nadu's power tariff hike not enough for beleaguered discom: Experts

Dues to power sector comprise more than 28% of state's debt; state blamed for 'regulatory indiscipline'

Godrej & Boyce to invest Rs 300 crore in Gujarat's Dahej to double revenues

Godrej & Boyce on Monday said it is investing an additional Rs 300 crore at its facility in Gujarat's Dahej to double revenues from the process equipment arm by FY25. Godrej Process Equipment (GPE) is investing to strengthen presence in the hydrogen and power sectors for delivery of specialised and large equipment for which Rs 300 crore investment is being made, according to an official statement. The expansion will increase the manufacturing area by approximately 25,000 square metres, it said, adding that at present it serves client needs in the oil and gas, chemicals and fertilizers, and power sectors. The facility, commissioned in 2016, houses units to manufacture and deliver over-dimensional consignments for global projects, it said. The expansion will involve a dedicated bay for nuclear equipment and another bay dedicated for heavy equipment manufacturing, the statement said, adding a 'clean room' will also be created for manufacturing equipment using exotic metals like ...

Bulk of India Inc's overseas debt is hedged: RBI governor Shaktikanta Das

Comments follow huge pressure on ruper versus the dollar due to record outflows from domestic equity markets amid elevated commodity prices and higher US interest rates

CDPQ buys add'l 10% in Mumbai-based Apraava Energy at Rs 660 cr deal value

With this, the Canadian pension fund's stake in the firm goes up to 50%

Power engineers body asks govt not to move electricity bill in 'haste'

A power sector engineers' body has asked the government to not introduce the electricity (amendment) bill in the upcoming session of Parliament "in haste" and hold discussions with all stakeholders

FPIs raise the ante by driving up allocation to oil & gas, auto stocks

FPIs increased their allocations to the oil and gas sector by 44 bps and the power sector by 21 bps

Vedanta to buy Athena Chhattisgarh Power for Rs 564 crore

Vedanta Ltd on Thursday said it will acquire debt-ridden Athena Chhattisgarh Power Ltd for Rs 564.67 crore. Liquidation process for the company was initiated in March last year. The acquisition for a purchase price of Rs 564.67 crore is likely to be completed in the ongoing financial year, adding that the consideration will be in the form of cash. "Vedanta Limited to acquire 100 per cent of the paid-up capital of Athena Chhattisgarh Power Ltd," the metals and mining major said in a filing to BSE. The acquisition will fulfill the power requirement for Vedanta aluminium business and through vertical integration, add synergies by providing a cost advantage pertaining to power consumption. Athena Chhattisgarh Power Ltd has a 1,200 MW coal-based power plant located at Jhanjgir Champa district in Chhattisgarh. Athena was admitted under Corporate Insolvency Resolution Process on May 15, 2019. On May 13 last year, a bench of NCLT Hyderabad directed initiation of the liquidation process

Govt may drop proposal on discom delicensing after some states protest

The amendment pertains to delicensing of power distribution that would have paved the way for any company to supply electricity in an area, after necessary regulatory approval

ACME, Tata Power among 60 firms to sign MoUs worth Rs 1.25 trn with TN govt

Chief Minister M K Stalin also lays foundation stone for 21 projects with an investment commitment of Rs 22,252 crore and employment potential for about 17,654 persons