Nigeria’s electricity regulator has put up for sale the sixth largest power distribution utility over a $130 million debt, less than two years after the lenders who took over the company failed to turn it around...
CCI approves Punjab State Power Corp’s takeover of GVK Energy arm
The Competition Commission of India (CCI) said it has cleared the proposed acquisition of a 100% stake in an arm of GVK Energy by Punjab State Power Corporation Ltd (PSPCL). The anti-trust regulator said PSPCL, a fully...
Sterlite Power acquires Neemrana II Kotputli Transmission
Sterlite Power said it has acquired Neemrana II Kotputli Transmission in Rajasthan from PFC Consulting. The project, a special purpose vehicle, was awarded to Sterlite Power through the Tariff-Based Competitive Bidding...
Tata Power acquires 100% stake in Bikaner SPV
Tata Power Company on Thursday said it has acquired a 100% equity stake in Bikaner III Neemrana II Transmission, a special purpose vehicle (SPV) meant for the project. The acquisition process was completed on December...
Powermers Smart Industries to go public via $2 bln SPAC deal
Commercial transportation and industrial equipment maker Powermers Smart Industries (PSI) has agreed to go public in the U.S. through a merger with a blank-check firm in a deal valued at about $2 billion, the companies...
Punjab Utility set to buy GVK power plant
Punjab State Power Corp is set to acquire GVK Power (Goindwal Sahib) by offering ₹1,400 crore to lenders, people aware of the development told ET, marking the first such takeover of a private electricity generator by a...
NCLAT stays CCI penalty on NTPC for non-disclosure on acquisition of Ratnagiri Gas & Power shares
The National Company Law Appellate Tribunal (NCLAT) has stayed a CCI order that imposed a penalty on state-owned power producer NTPC for not disclosing the acquisition of 35.47 per cent equity share capital in Ratnagiri...
Tata Power acquires Bikaner-Neemrana Transmission Project
Tata Power said it has acquired Bikaner-Neemrana Transmission Project through a bidding process. Bikaner-III Neemrana-II Transmission Ltd is a special purpose vehicle (SPV) set up by PFC Consulting, for the project. The...
Czech Sev.en GI agrees to buy AES’s 51% stake in Vietnamese power plant
Czech privately-held Sev.en Global Investments said it will buy a majority stake in a large coal-fired plant in Vietnam from U.S. energy firm AES Corp. The purchase of 51% of the 1.2 gigawatt Mong Duong 2 will help...
Lithium refiner Stardust Power to go public via $490 mln blank – check deal
Stardust Power, a lithium refiner supplying the electric vehicle industry, on Tuesday agreed to go public in the U.S. through a merger with a blank-check company in a deal valued at $490 million. Once a niche metal used...
Capital Power acquires two LNG-fired power plants in U.S. for $1.1 bln
Canadian energy company Capital Power said it was acquiring two U.S.-based natural gas-fired generation facilities in California and Arizona for a net cost of $1.1 billion. Capital, like some of its rivals, is aiming to...
Lenskart acquires AI-powered video analytics startup Tango Eye
Hopping on to the AI (artificial intelligence) bandwagon, omnichannel eyewear retailer Lenskart announced it will acquire Tango Eye, an AI-based computer vision startup. The Chennai-based startup already counts Lenskart...