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...
GIP, Stonepeak among bidders for Singapore Power’s 40% stake in Jemena, sources says
Global Infrastructure Partners (GIP) and Stonepeak are among the bidders for Singapore Power’s 40% stake in Jemena in a potential deal that could value the Australian energy group at over $10 billion, two sources...
Google buys stake in Taiwan solar power firm owned by BlackRock
Google said it has taken a stake in Taiwan’s New Green Power and could buy up to 300 megawatts of renewable energy from the BlackRock fund-owned firm to help cut its carbon emissions and those of suppliers...
Citadel to buy power firm Energy Grid in first Japanese acquisition
Citadel will buy Japanese power firm Energy Grid in its first acquisition in Japan and the first major U.S. investment in Japan’s wholesale energy market in recent years, billionaire investor Kenneth...
Carlyle explores sale of electric power producer Cogentrix, FT reports
PE firm Carlyle has hired advisers to explore a sale of Cogentrix that could value the North Carolina-based power producer at as much as $3 billion to $4 billion, the Financial Times reported, citing three people...
