Oil and Natural Gas Corporation (ONGC) has won a bid to acquire PTC India Ltd’s wind power unit for Rs 925 crore as the state-owned firm continues to build a renewable energy portfolio to balance its fossil fuel...
NCLT Hyderabad initiates insolvency proceedings against GVK Gautami Power
The Hyderabad bench of National Company Law Tribunal (NCLT) has initiated insolvency proceedings against GVK Gautami Power Ltd, according to a regulatory filing. In the filing, GVK Power & lnfrastructure Ltd...
Tata Steel to pick up 26 per cent stake in Tata Power renewable arm
Tata Steel will acquire a 26% stake in TP Vardhaman Surya, a wholly-owned subsidiary of Tata Power Renewable Energy, as a part of its plan to reduce carbon emissions to nil by 2045. The steel-maker will also get into a...
CCI gives nod to deal involving Lanco Amarkantak Power
Fair trade regulator CCI on Tuesday granted approval for the acquisition of Lanco Amarkantak Power by PFC Projects, REC, SJVN and Damodar Valley Corporation. PFC Projects, which is into electricity generation and...
Sterlite Power acquires Beawar Transmission to develop power project in Rajasthan
Sterlite Power said it has acquired Beawar Transmission Ltd for developing an electricity transmission project in Rajasthan. Beawar Transmission is a Special Purpose Vehicle (SPV) of REC Power Development and...
Japan’s Chubu Electric to buy stake in NuScale Power from JBIC
Japan’s Chubu Electric Power said it will buy a stake in U.S. NuScale Power (SMR.N) from the Japan Bank for International Cooperation (JBIC) as it bets on small modular nuclear reactors to help combat climate...
Engie to acquire Texas-based power storage firm Broad Reach Power
France’s Engie said it is acquiring full ownership of Broad Reach Power, a power storage company based in Houston, Texas, as it seeks to expand its global battery infrastructure. The deal signed with private...
TAQA considers $2.5 billion investment in Gautam Adani’s power business: Report
Abu Dhabi National Energy Company PJSC (TAQA) is evaluating an investment of up to $2.5 billion in Indian billionaire Gautam Adani’s power business, according to a report published by Economic Times. TAQA is the...
Adani family sells $1.1 bn power arm stake to GQG
The promoters of Adani Group on Wednesday raised around ₹9,000 crore by selling 8.1% of their holding in the energy-generation arm Adani Power Ltd, marking billionaire Gautam Adani’s largest equity capital-raising...
Sterlite Power acquires Fatehgarh III Beawar Transmission from PFC
Sterlite Power said it has acquired Fatehgarh III Beawar Transmission, a special-purpose vehicle, from PFC Consulting Limited. PFC Consulting Limited (PFCCL) is a wholly-owned subsidiary of Power Finance Corporation...
Aditya Birla ARC leads race for RPower unit
The race for Vidarbha Industries Power (VIPL), a subsidiary of Reliance Power, is heating up with three more companies, including Aditya Birla Asset Reconstruction Company and Reliance Asset Reconstruction Company...
Jindal Power: Streamlining Promoter’s Holding
In 2021, Naveen Jindal Group’s flagship company, Jindal Power & Steel Limited announced the divestment of its subsidiary entity engaged in power generation business: Jindal Power Limited to a private entity owned by...