India Grid Trust (IndiGrid) will acquire a 100% equity stake in Khargone Transmission at an enterprise value of around ₹1,497.5 crore, the company said Monday in a regulatory filing. “IndiGrid signed a share...
Spain’s Iberdrola considers U.S. renewables stake sale, sources say
Spanish power company Iberdrola is considering the sale of a stake in its U.S. renewables business to help to finance new investments, two sources with knowledge of the matter told Reuters. One of the sources said that...
ABB sells its power conversion division for $505 million
ABB has sold its U.S.-based power conversion business to AcBel Polytech Inc for $505 million, the Swiss engineering and technology company said on Friday. Taiwan-based AcBel said the deal would help complete its...
Vedanta set to acquire Meenakshi Energy for Rs 1,440 crore
Debt-laden power company Meenakshi Energy is set to be acquired by Anil Agarwal’s Vedanta Limited after its Rs 1,440 crore bid went through. In an exchange filing, Vedanta said that Rs 312 crore is set to be paid...
Norfund invests Rs 500 crore for undisclosed stake in SAEL
Norway’s state-owned Norfund has invested Rs. 500 crore in waste-to-energy maker SAEL for an undisclosed stake, as per a statement on the former’s website. The Delhi-based SAEL has the largest capacity of waste-to...
Ending ties with Russia’s Rosneft, Trafigura sells Nayara stake to Hara Capital Sarl
Swiss-headquartered commodity trader Trafigura sold its 24.5% interest in Nayara Energy Ltd, formerly Essar Oil, to Hara Capital Sarl, severing ties with Russian energy giant Rosneft. Nayara runs India’s second...
Adani Green, Torrent, Shell, Actis in race for KKR’s energy InvIT
About half a dozen domestic and global energy developers, including Adani Green, Torrent Power, Shell and Actis, are looking to acquire Virescent Renewable Energy Trust, an infrastructure investment trust (InvIT) owned...
RIL, Adani Group, NTPC among 7 bidders for SKS Power
SKS Power Generation’s lenders have received seven bids to take over the distressed power producer, people familiar with the matter said, setting the stage for a clash between Reliance Industries and the Adani Group...
Adani Power extends timeline to complete acquisition of DB Power till January 15
Adani Power said the timeline for the completion of the Rs 7,017-crore deal to acquire thermal power assets of DB Power Ltd has been extended till January 15, 2023. Earlier, the company had extended the timeline for...
NCLT approves merger of Kalpataru Power Transmission, JMC Projects
Kalpataru Power Transmission Ltd (KPTL) on Wednesday said the National Company Law Tribunal has approved the merger of JMC Projects (India) Ltd with the firm, making it one of the country’s largest listed...
Indian power producer NTPC to sell stake in green energy business
India’s largest power producer NTPC Ltd aims to sell a 20% stake in its green energy business this fiscal year, expecting to raise up to 30 billion Indian rupees ($363.97 million), three government sources said...
NTPC plans to sell PTC stake, hires consultant
State-run power major NTPC Ltd is planning to sell its stake in India’s largest power trading firm PTC India Ltd, two people aware of the matter said. India’s largest power generation firm has appointed a consultant for...
