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The Economic Times

REC signs MoUs worth ₹1.1 lakh crore with RE cos

REC Ltd has signed memorandums of understanding worth Rs 1.12 lakh crore with renewable energy developers for projects over five years. These include solar-wind hybrid, round-the-clock renewable power, and other renewable energy initiatives. The company aims to increase its renewable energy loan book to over ₹3 lakh crore by 2030.

CNBC TV18

Reliance Power board meet on Sept 23 to consider long-term fund raise

Reliance Power is exploring multiple avenues, including preferential issue, qualified institutional placement (QIP), rights issue and foreign currency convertible bonds.

Business Standard

NTPC Green Energy files draft papers to raise $1.2 billion through IPO

The company, a unit of power producer NTPC, will only issue new shares, and existing shareholders will not sell any stake, the draft papers showed

CNBC TV18

This Maharatna firm has won a major inter-state transmission project

The project, titled "Transmission System for Evacuation of Power from Rajasthan REZ Phase IV (Part 2: 5.5 GW) (Jaisalmer/Barmer Complex): Part H1," will be executed on a build, own, operate, and transfer (BOOT) basis.

Mint

Delhi High Court issues notice to RoC, Religare in Burman's plea over AGM extension

The dispute centres on the reappointment of chairperson Rashmi Saluja and an ongoing power struggle between the Burman family and Religare's management.

CNBC TV18

Ion Exchange wins ₹161-crore contract from Adani Power for water and environment solutions

The contracts involve providing comprehensive water and environment management solutions for two 800 MW units at Adani's Raipur and Raigarh ultra-superpower projects. Shares of Ion Exchange (India) Ltd ended at ₹646.35, down by ₹10.45, or 1.59%, on the BSE.

CNBC TV18

Anil Ambani's Reliance Infrastructure and Reliance Power slash debt by a cumulative ₹7,220 crore

In a major move, Reliance Infrastructure Ltd and Reliance Power Ltd have slashed their combined debt by ₹7,220 crore. Reliance Infrastructure reduced its external debt from ₹3,831 crore to ₹475 crore, aided by securities novation and debt settlement with lenders.

Business Line

Reliance Power says obligations as guarantor on behalf of Vidarbha Industries fully settled

Corporate guarantees, undertakings and obligations and claims in relation to VIPL’s ₹3,872.04-crore outstanding debt are, therefore, released

Business Standard

Quality Power files draft papers with Sebi to raise funds via IPO

Quality Power Electrical Equipments, an energy transmission equipment and power technologies company, has filed preliminary papers with capital market regulator Sebi to raise funds through a initial public offering. The initial public offering (IPO) comprises a fresh issue of equity shares aggregating up to Rs 225 crore and an offer for sale (OFS) of up to 1.2 crore equity shares, according to the draft red herring prospectus filed on Monday. As part of the OFS, promoter Chitra Pandyan will offload the shares of the IPO-bound company. The Pandyan family holds 100 per cent stake in Sangli-based Quality Power. Proceeds from the fresh issue are proposed to be utilised for the acquisition of Mehru Electrical and Mechanical Engineers Pvt Ltd, funding capital expenditure requirements for purchasing plant and machinery. Besides, the company will also use the funds for inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes. Quali

The Economic Times

Cabinet approves setting up of National Centre of Excellence for Animation on lines of IITs, IIMs

The Union Cabinet has approved the establishment of the National Centre of Excellence for Animation, Visual Effects, Gaming, Comics and Extended Reality in Mumbai. This initiative aims to position India as a global content hub, enhance soft power, and attract foreign investments in the media and entertainment sector.

The Economic Times

Quality Power files draft papers with Sebi; to mobilise funds via IPO

Quality Power Electrical Equipments, an energy transmission equipment and power technologies company, has filed preliminary papers with capital market regulator Sebi to raise funds through a initial public offering.

Business Standard

TPREL pledges Rs 75,000 crore to achieve 20GW solar capacity by 2030

Tata Power Renewable Energy Ltd (TPREL) has committed an investment of Rs 75,000 crore to achieve 20GW of operational capacity by 2030, a top company official said. Talking to PTI Videos on Tuesday, TPREL President Deepesh Nanda said that the company is already operating 5 GW capacity and has another 5 GW under construction. "We have committed to take this number all the way to 20 GW operational capacity by 2030," he said. To achieve this target, TPREL has committed an incremental investment of Rs 75,000 crore, he said adding that the company may meet these goals, possibly ahead of schedule. "We have just commissioned a massive 4.3 GW module manufacturing facility in Tirunelveli, which will further support our growth plans," Nanda added. Tata Power Renewable Energy Ltd is a subsidiary of Tata Power Ltd.

Mint

Adani Group’s bid to buy Reliance Power’s plant near Mumbai gets a fresh boost

Reliance Power's resolution of a loan dispute clears the path for Adani Group to acquire the Butibori thermal power plant, previously a key electricity supplier to Mumbai.

The Economic Times

Tata Power arm pledges Rs 75,000 cr to achieve 20GW solar capacity by 2030

Tata Power Renewable Energy Ltd (TPREL) plans to invest Rs 75,000 crore to reach 20GW of operational capacity by 2030. Currently, the company operates 5 GW and has another 5 GW under construction. TPREL recently commissioned a 4.3 GW module manufacturing facility in Tirunelveli to support its growth.

The Economic Times

​Gainers & Losers: Bajaj Housing Finance, BSE among 13 stocks

Indian indices closed lower, influenced by declines in IT stocks like Infosys and TCS. BSE surged on IPO hopes, while Torrent Power gained after a major contract win.

Business Standard

Tata Power arm bags 400 MW hybrid project in Maharashtra

Tata Power Renewable Energy (TPREL) has secured a letter of award (LoA) from Maharashtra State Electricity Distribution Company (MSEDCL) for the development of a 400 MW wind-solar hybrid project in Maharashtra.

CNBC TV18

Tata Power arm bags 400 MW hybrid project in Maharashtra

The project includes an initial contract capacity of 200 MW with a greenshoe option for an extra 200 MW.

Business Standard

Tata Power Renewable Energy bags 400 MW wind-solar project from MSEDCL

Tata Power Renewable Energy on Wednesday said it has secured a 400 MW wind-solar hybrid project from Maharashtra State Electricity Distribution Company Ltd (MSEDCL). Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, has successfully secured a Letter of Award (LoA) from MSEDCL, a wholly-owned entity under the Maharashtra government, for the development of a 400 MW wind-solar hybrid project in Maharashtra, a statement said. The company said that the LoA includes an original contracted capacity of 200 MW, along with a greenshoe option for an additional contracted capacity of 200 MW. This would be the largest renewable energy project in Maharashtra till date for TPREL. The LoA was issued through a competitive bidding process conducted via an electronically-based reverse auction portal. The project is expected to be completed within 24 months from the signing of the Power Purchase Agreement (PPA) between TPREL & MSEDCL and will play a crucial role in cutting carbon ..

The Economic Times

Tata Power Renewable Energy bags 400 MW wind-solar hybrid project from MSEDCL

Tata Power Renewable Energy has secured a 400 MW wind-solar hybrid project from Maharashtra State Electricity Distribution Company Ltd. The project, the largest of its kind in Maharashtra, is expected to be completed within 24 months and will significantly reduce carbon emissions while supplying sustainable energy to MSEDCL.

The Economic Times

Adani Power share price down 1.46 per cent

A total of 95,147 shares changed hands on the counter till 01:23PM (IST).

The Economic Times

Reliance Power exits Vidarbha power plant after releasing corporate guarantee

Reliance Power Ltd, controlled by Anil Ambani, has exited the 600 MW Vidarbha Industries Power Ltd (VIPL) after pledging all its shares to CFM ARC. This move releases Reliance Power from its corporate guarantee obligations related to VIPL's Rs 3872 crore debt. CFM ARC and Axis Bank now control VIPL.

Business Standard

Reliance Power shares lock in 5% upper circuit on bourses: Here is why

Reliance Power had announced that it has settled its obligations of Rs 3,872.04 crore towards the corporate guarantee of the lenders of Vidarbha Industries

Business Standard

NTPC's JV company with NPCIL gets govt nod for taking up nuclear power generation

NTPC said that the Union Government has accorded approval to the proposal for the formation of Anushakti Vidhyut Nigam (ASHVINI), a joint venture between the company and Nuclear Power Corporation of India (NPCIL).

The Economic Times

Share price of Tata Power rises as Nifty strengthens

A total of 137,335 shares changed hands on the counter till 12:37PM (IST).

Business Standard

Torrent Power rises after bagging LOI for 1,500 MW pump storage project from MSEDCL

Torrent Power added 3.35% to Rs 1839.65 after the company announced that it has emerged as a successful bidder and has received letter of intent (LOI) for a pump storage project from MSEDCL.

Business Standard

Torrent Power shares jump 5% on receiving Letter of Intent from Maha Discom

The northward move in Torrent Power shares came on the back of the news that the company has received a Letter of Intent from Maharashtra State Electricity Distribution Company (MSEDCL)

Business Standard

Reliance Infra rises 8% on paring debt, resolving power business dispute

Reliance Infrastructure has cleared its dues to LIC, Edelweiss Asset Reconstruction Company, ICICI Bank, Union Bank, and other lenders, apart from resolving disputes related to the transfer of its Mum

Mint

Tata Power share are down by -0.28%, Nifty up by 0.22%

Tata Power Share Price Today on 18-09-2024: On the last trading day, Tata Power opened at ₹445.5 and closed at ₹443.8. The stock reached a high of ₹447 and a low of ₹442.35 during the day.

Mint

Hero Future Energies to invest $20 billion to boost renewable energy capacity to 30 GW by 2030

Hero Group's power unit plans to invest $20 billion to increase its capacity to 30 GW by 2030, up from 1.9 GW. The investment will focus on wind, solar, and battery storage, with funding from internal sources and a mix of debt and equity.

The Economic Times

Stock market update: Power stocks down as market rises

The 30-share BSE Sensex was up 43.55 points at 83123.21

The Economic Times

Reliance Power shares locked in 5% upper circuit on settling Rs 3,900 crore obligations

Reliance Power Share Price: Shares of Reliance Power rose 5% today, reaching a high of Rs 32.98, following the announcement of a settlement regarding obligations worth Rs 3,872.04 crore for the lenders of Vidarbha Industries Power (VIPL). The company also settled all disputes with CFM Asset Reconstruction, pledging 100% of VIPL's shares to CFM for the release of the guarantee.

The Economic Times

InoxGFL's renewable arm raises Rs 300 crore from investors

IGREL Renewables Ltd., part of InoxGFL Group, has raised Rs 300 crore by diluting a single-digit stake. The company aims to achieve 2 GW capacity by FY27 with a capex of Rs 12,000 crores. Orders for wind and solar capacities have been placed, and power purchase agreements are in place for over 600 MW.

Business Standard

Reliance Power Ltd Spurts 5%

Reliance Power Ltd has added 0.52% over last one month compared to 2.09% gain in BSE Utilities index and 3.18% rise in the SENSEX

Mint

Reliance Power share price surges 5%. Here's why

Stocks in focus: Reliance Power has successfully settled a substantial debt owed by its former subsidiary, Vidarbha Industries Power Limited (VIPL).

Mint

Stocks to Watch: IndiGo, SpiceJet, NTPC, Tata Power, JBM Auto, HCL Tech and more

Here’s a quick look at stocks likely to be in focus in today's trade.

The Economic Times

Stocks in news: VST Industries, Torrent Power, REC, Tata Power, Mankind Pharma

Torrent Power has received Letter of Intent (LOI) from Maharashtra State Electricity Distribution Co. Limited (MSEDCL) for procurement of 1,500 MW/ 12,000 MWh energy storage capacity for pumped hydro storage project.

The Economic Times

Meme-based dating app Schmooze raises $4 million in round led by Elevation Capital

The newly raised funds will be used for growth and expansion as well as to enhance its AI engine. “We've realised that the power of content in unifying people and understanding if they can vibe together is immense and universal. While we began with memes, we’re quickly expanding to other forms of content,” Anurag said.

Business Standard

Govt gives nod to NPCIL-NTPC JV for building nuclear plants in Rajasthan

The government has approved a joint venture between NPCIL and NTPC to build four 700 MWe nuclear power plants at Mahi Banswara in Rajasthan. The Department of Atomic Energy handed over the document approving the joint venture 'Anushakti Vidyut Nigam Limited (ASHVINI)'? to top officials of the Nuclear Power Corporation of India Limited (NPCIL) and the National Thermal Power Corporation (NTPC) on Tuesday, an official statement said. With this approval, ASHVINI has been authorized to build, own and operate nuclear power plants in India in accordance with the existing legal framework, the statement from NPCIL said. It said ASHVINI will be a subsidiary of NPCIL, which will have 51 per cent stake in the entity. The Mahi Banswara project of 4x700 MW Pressurised Heavy Water Reactors (PHWR) will be implemented by ASHVINI. The joint venture will pave the way for pooling resources in terms of finances and expertise for the rapid expansion of nuclear power capacity in the country to meet the

CNBC TV18

Reliance Power settles ₹3,872 crore guarantor obligations for Vidarbha Industries Power

Shares of Reliance Power rose 1% to end at ₹31.41 on NSE on Tuesday.

Business Standard

Torrent Power bags Maharashtra's 1,500 MW pumped hydro storage project

Torrent Power on Tuesday said it has bagged a 1,500 MW pumped hydro storage project (PSP) from Maharashtra State Electricity Distribution Co. Ltd. Torrent Power Ltd has emerged as a successful bidder and has received Letter of Intent (LOI) from Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) on 17th September 2024 for procurement of 1,500 MW/12,000 MWh Energy Storage Capacity from Pumped Hydro Storage Project, the company said in a statement. Detailed letter of award will be issued by MSEDCL upon obtaining necessary approval from the Maharashtra Electricity Regulatory Commission (MERC) in terms of the tender document on the quoted tariff, it said. The pumped hydro storage project will supply power to MSEDCL for 40 years as part of the deal, it said. Under the Pumped Hydro Energy Storage Facility Agreement (PHESFA), the company shall make available to MSEDCL a contracted capacity of 1,500 MW capable of scheduled discharge of eight hours (with maximum continuous five hour