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POWERGRID Signs Agreement to Acquire 74% Stake in Jaiprakash Power Ventures Limited

Power Grid Corporation of India Limited (POWERGRID), a Maharatna PSE under Ministry of Power, Government of  India has signed a Share Purchase Agreement with Jaiprakash Power Ventures Limited (JPVL) to acquire 74% stake in Jaypee Powergrid Limited-JV (JPL) in which POWERGRID holds 26% equity. JPL will become a wholly owned subsidiary of POWERGRID following this acquisition. JPL-JV has developed a ...

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CCI approves acquisition of 51% of the equity share capital of NESCO Utility by Tata Power Company Limited from Grid Corporation of Odisha Limited

The Competition Commission of India (CCI) approves acquisition of 51% of the equity share capital of North Eastern Electricity Supply Company of Odisha (“NESCO Utility”) by The Tata Power Company Limited  (“TPCL”) from Grid Corporation of Odisha Limited (“GRIDCO”) under Section 31(1) of the Competition Act, 2002, on 18th March 2021. The proposed combination relates to the acquisition of 51% ...

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Shri Pravas Kumar Singh takes oath as Member CERC

Shri R. K. Singh, Minister of State for Power (I/C) administered the Oath of Office and Secrecy to Shri Pravas Kumar Singh, Member, Central Electricity Regulatory Commission (CERC) here today. Shri Pravas Kumar Singh was appointed Member of CERC vide Order dated 16.12.2020. He holds LLB Degree. He has worked as Member (legal) in Jharkhand SERC till he was appointed ...

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OPTCL INKS MOU WITH IIT BHUBANESWAR

Odisha Power Transmission Corporation Limited today signed an MoU with Indian Institute of Technology, Bhubaneswar for establishment of OPTCL Chair position in IIT Bhubaneswar in presence of Minister Energy,Govt. of Odisha Sri Dibya Shankar Mishra. Present on the occasion were Dr. Saurabh Garg, IAS Chairman OPTCL and Prof. R.V Rajakumar, Director, IIT, Bhubaneswar, Sri Sanjeev Singh,MD of OPTCL, Sri Trilochan ...

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India signs Strategic Partnership Agreement with IEA

The Framework for Strategic Partnership between the International Energy Agency (IEA) members and the Government of India was signed on 27th January, 2021 to strengthen mutual trust and cooperation & enhance global energy security, stability and sustainability.This partnership will lead to an extensive exchange of knowledge and would be a stepping stone towards India becoming a full member of the ...

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NCLT approves NHPC’s Resolution Plan for Jalpower Corporation Limited

National Company Law Tribunal (NCLT), Hyderabad bench approved NHPC’s Resolution Plan for taking over Jalpower Corporation Limited (JPCL) as going concern vide its order dated 24.12.2020 and uploaded the same on its website on 07.01.2021. JPCL was executing 120 MW Rangit Stage-IV Hydroelectric Project in Sikkim. The Company is currently undergoing Corporate Insolvency Resolution Process (“CIRP”) which was initiated on April ...

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EESL to procure 250 Electric Vehicles from TATA Motors Limited & Hyundai Motor India Ltd

Energy Efficiency Services Limited (EESL), a Super Energy Service Company (ESCO) under the administrative control of Ministry of Power, Government of India, will procure 250 electric vehicles from Tata Motors and Hyundai Motor India. The companies were selected through an international competitive bidding process, which was aimed at increased participation. Tata Motors Limited and Hyundai Motor India Limited won the ...

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NTPC develops infrastructure at Rihand for increasing the use of Fly Ash Utilization

NTPC Ltd., a central PSU under Ministry of Power and country’s largest power generation     company, has developed an infrastructure at Rihand project in Uttar Pradesh to transport fly ash in bulk to cement plants, located at distance, at a cheaper cost. The development is in line with NTPC’s commitment towards 100 percent utilization of fly ash from power plants. As ...

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POWERGRID posts Profit After Tax of 2,048 crore for Q1FY21.

Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Company under Ministry of Power, GoI and the ‘Central Transmission Utility (CTU)’ of the country, has posted a Profit After Tax of ₹2,048 crore and Total Income of ₹9,817 crore on consolidated basis for Q1FY21. On standalone basis, the Company posted Profit After Tax and Total Income of ₹1,979 crore and ...

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NTPC Group achieves over 100 BUs of cumulative generation in the current financial year

  According to a statement issued by NTPC Ltd., NTPC Group has achieved over 100 Billion Units (BUs) of cumulative generation in the current financial year, reinforcing group’s commitment towards excellence in operation across its plants. As per the data published by Central Electricity Authority (CEA), NTPC Korba (2600 MW) in Chattisgarh has emerged as the top performing thermal power ...

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