Debenture holders have moved the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against GVK Power and Infrastructure, the ultimate holding company of GVK, claiming the holding company had...
All renewable biz to merge in one: Tata power chief
For the 12th straight quarter, Tata Power posted an increase in its consolidated net profit. Chief executive Praveer Sinha tells Kalpana Pathak that he expects this trend to continue as all the existing operations have...
Timeline for Adani’s DB Power acquisition extended till November 30
Adani Power said that the timeline for completion of the Rs 7,017-crore deal to acquire thermal power assets of DB Power Ltd has been extended by one month till November 30, 2022. “The parties (Adani Power and DB...
Norway’s Statkraft submits debt resolution plan for Lanco unit
Europe’s largest renewable energy company Statkraft has submitted a resolution plan for Lanco Mandakini Hydro Energy which is undergoing bankruptcy proceedings at the National Company Law Tribunal (NCLT), it said...
Morgan Stanley plans preliminary talks for stake sale in German renewable firm PNE
Morgan Stanley’s infrastructure investment arm is weighing a sale of a 40% stake in German wind and solar power project developer PNE AG after being approached by potential suitors, three people familiar with the...
NARCL offers ₹900 crore for Meenakshi Energy debt
National Asset Reconstruction Company of India (NARCL), the government-promoted bad bank, has given lenders of Meenakshi Energy a Rs 900 crore binding offer to acquire its debt, said two people aware of the development...
PFC to take RattanIndia plant to bankruptcy court this year
State-run Power Finance Corp. plans to file an insolvency plea against RattanIndia Power’s 1350MW Nashik power plant within this year, said two people aware of the development. The plant has a ₹8,000 crore debt, while...
LIC sells over 2% stake in Power Grid for Rs 3,079 crore in 5 months
LIC has sold over 2 per cent of its holding in Power Grid Corporation over the past five months for Rs 3,079.43 crore, the insurer said on Wednesday. There is a decrease of 2.003 per cent in holding during the period...
Power Grid acquires ETL under TBCB route
Power Grid Corporation of India emerged as the successful bidder under tariff-based competitive bidding (TBCB) to acquire ER NER Transmission (ETL). The company acquired ETL, the project special purpose vehicle (SPV)...
GVK Power (Goindwal Sahib) admitted for insolvency
The bankruptcy court Monday admitted GVK Power (Goindwal Sahib) Ltd for corporate resolution and insolvency proceedings based on a petition filed by Axis Bank. This is the second company of the GVK group, after GVK...
Germany’s RWE buys Con Edison clean energy in $6.8 billion U.S. shift
Germany’s largest power producer RWE has agreed to buy Con Edison’s Clean Energy Businesses for $6.8 billion, nearly doubling RWE’s renewables portfolio in the United States, the world’s second...
NCLAT dismisses Siemens’ plea against encashment of its guarantee in Meenakshi Energy
The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal by Siemens Ltd against the invocation of its bank guarantees by Meenakshi Energy. Meenakshi Energy Ltd (MEL) which is presently facing...
