Lenders to Jaiprakash Power Ventures are planning to sell their ₹3,800 crore investment in the company, acquired during a debt restructuring in 2019. This sale of compulsorily convertible preference shares would give the buyer a 25% stake, potentially leading to a controlling 51% stake after an open offer. ICICI Bank is leading the creditor group…
Odisha government has requested the Centre for the swift approval of Rs 3,069 crore under the Revamped Distribution Sector Scheme (RDSS). Deputy CM K V Singh Deo also urged for allocation of 800 MW power from NLC Talabira Phase-II project, in addition to the existing 400 MW, to strengthen disaster-resilient power infrastructure.
The NCLT Hyderabad has permitted YS Jagan Mohan Reddy’s plea. It directs the cancellation of shares in Saraswati Power and Industries. These shares were transferred to YS Sharmila and Vijayamma. Jagan sought the reinstatement of his and his wife’s names in the company. Sharmila’s advocate stated they will appeal the order.
Andhra Pradesh government has cancelled Adani Green Energy Ltd’s (AGEL) 1,200 MW Kurukutti and 1,000 MW Karrivalasa pumped hydro storage power projects at the company’s request, citing boundary disputes between Andhra Pradesh and Odisha. AGEL requested cancellation and a refund of facilitation charges, which may be adjusted towards other projects.
Diamond Power Infrastructure Ltd (DPIL) has secured a ₹1,349.11 crore order from Adani Energy Solutions Ltd for the supply of 24,080 AL-59 high-performance conductors. The contract is to be completed by June 2028. DPIL, India’s largest single-location power cables and conductors manufacturer, disclosed the development in a stock exchange filing on Monday.
JSW Neo Energy has secured a 25-year Power Purchase Agreement with SECI to supply 230 MW of Firm and Dispatchable Renewable Energy at Rs 4.98 per kWh. This marks JSW Energy’s first FDRE project PPA, boosting its under-construction capacity to 12.9 GW and locked-in generation capacity to 30.2 GW. The company aims to achieve 30…
Torrent Power Ltd. is reportedly in discussions to acquire Larsen & Toubro Ltd.’s thermal business unit for approximately $1 billion, including debt. L&T aims to reduce its debt by divesting the unit and concentrating on its core engineering and construction operations. While talks are ongoing, the deal’s details could change, and other potential bidders may…
Big news for the power sector. The Central Electricity Regulatory Commission will implement power market coupling. This begins with the ‘day-ahead market’. The target is January 2026. This move follows discussions with power sector stakeholders. Market coupling aims for price convergence. It will align electricity prices across regions. This creates a consistent pricing structure for…
The government is planning to boost local manufacturing of critical power transmission equipment, especially for HVDC lines, through stakeholder discussions and initiatives like technology acquisition. This move, spurred by the FY26 budget’s clean tech focus, aims to strengthen the supply chain, increase domestic value addition, and support the expansion of power transmission infrastructure for renewable…
In a significant win for regulatory bodies, the Supreme Court has upheld the Delhi High Court’s decision, exempting the fees collected by the CERC and DERC from GST. This ruling dismisses demands for an 18% tax on regulatory fees, affirming that these bodies perform quasi-judicial functions, not support services.