In a major relief to many ailing power companies, the Supreme Court has set aside the February 12, 2018 circular of the Reserve Bank of India (RBI) that had revised the framework for the resolution […]
NTPC raises $450 million under MTN programme (India) NTPC Limited has raised $450 million through a five-year bond offering in the international market under its $6 billion medium-term note (MTN) programme. This issuance is NTPC’s […]
A key reason for stress in the power sector has been the outstanding dues of discoms to generators. The outstanding amount stood at Rs 407.57 billion as of end-December 2018, according to PRAAPTI (Payment Ratification […]
CCEA approves investment proposals for four projects (India) The Cabinet Committee on Economic Affairs (CCEA) has sanctioned investment proposals for four power projects. The 624 MW Kiru hydropower project will entail an estimated cost of […]
The high level of stress in the power sector has been an issue of concern for some time now. At a recent India Infrastructure conference, industry experts shared their views on the measures that have […]
NTPC signs Rs 50 billion term loan agreement with SBI (India) On February 11, 2019, NTPC Limited signed a term loan agreement for Rs 50 billion with the State Bank of India (SBI). The loan […]
The new year seems to have brought some cheer to the power sector. On January 1, 2019, the Competition Commission of India (CCI) approved Renascent Power Ventures Private Limited’s (Renascent Power) acquisition of a majority […]
NTPC raises Rs 40 billion through private placement (India) NTPCÂ has raised Rs 40 billion via bonds issued on a private placement basis. Bids worth Rs 125.2 billion were received against the issue size of Rs […]
Over the past few years, the installed generation capacity has recorded enormous growth. However, much of this capacity addition has taken place without fuel supply agreements (FSAs) and power purchase agreements (PPAs)Â with distribution companies. […]
Government sells 52.63 per cent stake in REC to PFC (India) The Cabinet Committee on Economic Affairs has accorded in-principle approval for the sale of the government’s 52.63 per cent stake in the Rural Electrification […]
On December 6, 2018, the Cabinet Committee on Economic Affairs (CCEA) gave in-principle approval for the sale of central government’s 52.63 per cent stake in REC Limited (formerly Rural Electrification Corporation Limited) to the Power […]
In a major step towards reviving the stranded power projects operated by Adani Power Limited (APL), Tata Power and Essar Power in Gujarat, the Supreme Court has asked the Central Electricity Regulatory Commission (CERC) to […]
REC raises $700 million through GMTN programme (India) REC Limited has raised $700 million through global medium term notes (GMTN) after its initial foray of $5 billion GMTN programme into the 144a market (US Securities […]
In a significant merger and acquisition (M&A) deal in the power sector, in September 2018, Canadian pension fund manager Caisse de dépôt et placement du Québec (CDPQ) agreed to acquire a 40 per cent stake […]
NTPC announces voluntary liquidation of Bharat Forge JV (India) NTPC Limited has announced a voluntary liquidation of its joint venture (JV) with Bharat Forge under the Insolvency and Bankruptcy Code (IBC). BF-NTPC Energy Systems, a […]
The issue of stressed assets is not new for the power sector. However, developments in the past 12 months have made it imperative for the stakeholders to take immediate steps. With a view to improve […]
The Bombay Stock Exchange (BSE) Power Index tracks the share prices of 18 power companies operating across various segments of the industry and is weighted by free-float capitalisation. Over the past 12 months, it plunged […]
The power sector has witnessed considerable financial activity in the past year, with the focal point being renewables and the resolution of stressed assets. The mergers and acquisitions (M&A) segment indicated a growing trend with […]
Access to finance continues to be a bone of contention for the renewable/decentralised energy sector in India. Institutions’ lendable resources are limited at any given point of time, and there is always a trade-off between […]
Powergrid signs Rs 100 billion term loan agreement with SBI (India) Power Grid Corporation of India Limited (Powergrid) has entered into a term loan facility agreement for Rs 100 billion with the State Bank of […]
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