Adani Power Ltd has begun talks to acquire the 600 MW Butibori thermal power project in Nagpur once owned by Anil Ambani’s bankrupt Reliance Power Ltd, two people aware of the matter said. A deal is likely in the...
Bankruptcy court okays SKS Power Generation’s Acquisition by Sarda Energy & Minerals
The Mumbai bench of the National Company Law Tribunal (NCLT) Tuesday approved SKS Power Generation (Chattisgarh) Ltd’s acquisition by BSE-listed Sarda Energy & Minerals. The division bench of judicial member Kishore...
Algonquin to sell majority of renewables unit for up to $2.5 bln to ease debt
Canada’s Algonquin Power & Utilities said on Friday it would sell its renewable energy business, excluding the hydropower operations, to a unit of U.S.-based LS Power for up to $2.5 billion. Last August, the...
Tata Power to acquire 40% stake in KHPL for Rs 830 crore
Tata Power on Tuesday announced plans to acquire a 40 per cent stake in Khorlochhu Hydro Power Limited (KHPL) for Rs 830 crore to set up a 600 MW hydro project in Bhutan. In a statement, Tata Power said it has finalized...
Tata Power gets LoI to acquire SPV in Odisha
Tata Power Company on Monday said it has received a letter of intent from PFC Consulting, the wholly-owned subsidiary of Power Finance Corporation, to acquire a project-specific special-purpose vehicle. In a regulatory...
NCLT allows KSK Mahanadi lenders to distribute surplus cash of Rs 6400 crore among them
The Hyderabad bench of the National Company Law Tribunal (NCLT) today approved a plea from the resolution professional of KSK Mahanadi Power to distribute the surplus cash amounting to Rs 6400 crore among lenders...
Quantum Capital to buy Cogentrix for $3 bln in bets on rising US power demand
Private equity firm Quantum Capital Group will buy U.S. independent power producer Cogentrix Energy for about $3 billion from funds managed by the Carlyle Group, the companies said on Monday. Utilities are attracting...
Iberdrola to buy Britain’s ENWL in $5.4 bln deal
Utility Iberdrola has agreed to buy a majority stake in British power network Electricity North West (ENWL) in a deal valuing the company at roughly 5 billion euros ($5.4 billion) and would boost the Spanish...
Jindal Power, Vedanta & 4 others in race for Athena
Six companies including Vedanta, Jindal Power and an arm of JSW Energy are in the race to acquire Athena Demwe Power, which owns the 1,750-MW Lower Demwe hydroelectric project in Arunachal Pradesh, through the...
NCLT admits GVK Power & Infra with dues of Rs 18k cr to insolvency
The Hyderabad bench of the National Company Law Tribunal (NCLT) has initiated corporate insolvency proceedings against GVK Power & Infrastructure (GPIL) in response to a petition by ICICI Bank and joined by five...
Australian firm Genex’s shareholders approve J-Power’s $258 mln buyout bid
A majority of shareholders have approved Japanese company Electric Power Development’s (J-Power) A$381 million ($257.56 million) buyout of Genex Power, the Australian company said on Tuesday. J-Power offered 27.5...
Adani Power, NTPC, JSW Energy in the race for Sinnar Thermal
Some of India’s largest power producers such as Adani Power, JSW Energy, Jindal Power, Vedanta Group, Torrent Power and state-owned NTPC are among 15 companies that have submitted formal expressions of interest...
