Suzlon Energy on Monday received approval from bondholders for a resolution plan for outstanding securities of $172 million, the company said. The company had called a meeting of bondholders on April 6 seeking their nod...
Energy
Israel’s Delek to sell rest of desalination firm IDE for $44 million
Israeli energy conglomerate Delek Group said on Monday it agreed to sell its remaining stake in water desalination company IDE Holdings for 164 million shekels ($44 million) in cash to Alpha Water. The deal is subject...
Brazil’s Eneva acquires 0.5% stake in AES Tiete amid merger talks
Brazilian energy company Eneva said on Thursday it has acquired a 0.5% stake in AES Tiete to enjoy shareholder benefits and take part in general assemblies while it negotiates a merger with the company. On March 1...
Creditors of KSK Energy Ventures pass a resolution for its liquidation
The Committee of Creditors of independent power company KSK Energy Ventures Limited has recommended liquidation of the company after the failure to secure any resolution plan under the insolvency procedure. During a...
Brazil energy company Eneva proposes $1.5 billion merger with rival AES Tiete
Brazilian energy company AES Tiete said on Monday it had received a merger proposal from Eneva, a proposed 7 billion real ($1.5 billion) deal that would create a giant in power generation. Shares in AES Tiete were up 18...
SBI approves Suzlon’s debt revamp proposal
State Bank of India (SBI) has approved a restructuring plan proposed by Suzlon Energy Ltd as the first step towards saving the stressed wind power firm, according to two bankers familiar with the matter. Under the...
Siemens to buy Iberdrola’s stake in Siemens Gamesa for 1.1 billion euros
Siemens is buying Iberdrola’s stake in Siemens Gamesa renewable energy, the German engineering company said, as it prepares to merge the business with its own energy unit ahead of a floatation later this year. Siemens...
Spanish renewables company Elawan explores sale – sources
Spanish industrial holding ACEK is putting its wind power company Elawan Energy up for sale in a potential $2 billion deal as it seeks to cash in on high sector valuations, people close to the matter said. ACEK, which...
Power companies feel divestment may increase cost of borrowings
NTPC Ltd, Power Grid Corporation of India (PGCIL) and Power Finance Corporation (PFC) have conveyed their concerns on the government’s proposal to reduce stake to below 51%. The companies have told the ministry of power...
PFC NPAs to reduce with resolution of 4 stressed plants: CMD
State-owned Power Finance Corp (PFC) expects significant reduction in its bad loans with resolution of four stressed power generation assets, expected by the end of this financial year, its chairman and managing...
NTPC Board okays acquisition of govt stake in NEEPCO, THDC
State-owned power giant NTPC on Monday said its board has given in-principal approval to acquire government’s 100 per cent stake in North Eastern Electric Power Corporation Ltd(NEEPCO) and 74.5 per cent stake in...
NTPC may not conclude THDCIL, NEEPCO acquisition deal this fiscal: Source
State-run power giant NTPC is unlikely to conclude its about ₹10,000-crore acquisition deal to buy government’s stake in THDC India and North Eastern Electric Power Corporation, according to a source. The...
