Billionaire Gautam Adani-Adani Power’s planned ₹7,017-crore acquisition of thermal power assets of DB Power Ltd has collapsed as the deadline to complete the transaction expired. The agreement to acquire the...
Power
Dutch grid operator TenneT to explore sale of German unit to Berlin
Dutch electricity grid operator TenneT will explore the possibility of a full sale of its German operations to the German state to ensure sufficient investment in networks in both the Netherlands and Germany, it said on...
Adani Power receives NCLT’s approval for merger of six subsidiaries
The National Company Law Tribunal (NCLT) on Thursday approved the merger of Adani Power Maharashtra, Adani Power Rajasthan, Udupi Power Corporation, Raipur Energen, Raigarh Energy Generation, and Adani Power (Mundra)...
Adani and Jindal companies, Vedanta in race for GVK Power’s Punjab unit
Adani Power, Jindal Power and Vedanta are among twelve companies that have expressed initial interest in acquiring distressed producer- GVK Power (Goindwal Sahib), said two people aware of the development. GVK Power...
Grenergy aims to sell minority stake in Spanish solar assets
Spain’s Grenergy aims to sell a minority stake in photovoltaic projects in the country, the renewable power generation company said on Tuesday, confirming earlier media reports. “In relation to the news...
Indi Grid to buy Khargone Transmission for ₹1,497cr
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...
