The share prices of power transmission and distribution company Areva T&D rose 2.8 per cent on the Bombay Stock Exchange on Tuesday in anticipation of a possible open offer. A combine of Alstom and Schneider Electric have bought the entire stake in it of its majority holder, French nuclear major Areva.
Two French firms Alstom and Schneider Electric have jointly bid for acquiring transmission and distribution business of Paris-based Areva for an equity value of euro 2,290 million (about Rs 16,000 crore).
Citing the example of the Tarapore nuclear plant facing acute shortage of nuclear feedstock, the minister said we need an assurance from the west that it will not put impediments on the way to supply fuel to India.
Areva, the French nuclear group, agreed on Wednesday to supply India with up to six nuclear reactors in one of the first deals since the subcontinent's nuclear programme was brought into the international fold last year after decades of isolation.
Suzlon's Rs 6,000 crore (Rs 60 billion) bid to acquire Germany's third largest wind turbine maker REpower could well turn into a bidding war
Areva has 60-Mw of biomass-based power capacity in India. It is looking to also tap the market for nuclear power in a big way.
Power company Alstom Projects India Ltd on Tuesday said it has received a binding offer from Areva for the purchase of its transmission & distribution (T&D) operations in India for a total consideration of 22.31 million euros.
'Why should we disclose classified information to satisfy those who doubt our Hydrogen Bomb capability?'
Analysts said Areva still has a window under German rules to scale up its offer.
Pips French co for third-largest German wind power company.
William D Gallo, president and chief executive officer, tells Sanjay Jog they propose to make India a hub to source solar technology for their international operations.
India and France on Friday signed 17 agreements, including on the stalled nuclear project in Jaitapur in Maharashtra, after Prime Minister Narendra Modi held wide-ranging talks with French President Francois Hollande.
Marking a breakthrough in the protracted talks in the French Rafale jet deal, Prime Minister Narendra Modi announced on Friday that India will purchase 36 of these fighter planes that are ready to fly, citing critical operational requirement of the Indian Air Force.
President Francois Hollande's visit to India on Thursday saw a protest against French-assisted Jaitapur nuclear power plant by activists who alleged that proper safety measures had not been adopted in the project to prevent a Fukushima like disaster.
The government has given approval for setting up six nuclear power plants with assistance from French company Areva at Jaitapur in Maharashtra, minister of state in the Primke Minister's Office V Narayanasamy told the Rajya Sabha on Thursday.
This would make India the world's second-biggest nuclear energy market after China
The Nuclear Power Corporation of India Limited (NPCIL) and French company Areva signed an agreement RPT signed an agreement for building two European Pressure Reactors at Jaitapur in Maharashtra after talks between Prime Minister Manmohan Singh and visiting French President Nicolas Sarkozy.
Modi has made nuclear power a key element of his clean energy strategy
Membership of Nuclear Suppliers Group ensures continued availability of fuel sufficient to operate India's nuclear plants.
The Communist Party of India-Marxist on Tuesday demanded an immediate halt to the setting up of a nuclear power project in Jaitapur and the environment clearance given to it, saying the crisis in nuclear reactors in Japan following the tsunami warranted a re-examination of the project.
Power equipment supplier Bharat Heavy Electricals Ltd plans five joint ventures in the nuclear sector and locomotive manufacturing. The company has decided to invest Rs 1,000 crore in a castings and forgings joint venture, Chairman and Managing Director K Ravi Kumar said.
Contrary to perception, the cost of nuclear power based on imported fuel and equipment will be "comparable" to that from the conventional power plants, says Shreyans Kumar Jain, chairman and managing director of the Nuclear Power Corporation of India.
NPCIL executive director (corporate planning) S Thakur said fuel supply to its plants is now much better compared to the situation 2-3 years ago.
Wind power major Suzlon Energy on Friday announced the acquisition of German wind turbine manufacturer REpower after the French nuclear energy group decided to withdraw from the bidding contest.
The list of international and national companies in queue to tap the business opportunities arising out of the Indo-US nuclear deal is pretty impressive.
Several bilateral economic agreements were expected to be signed on Thursday.
The Rs 6,130-crore (Rs 61.3 billion) Suzlon will buy out Areva's stake in REpower, a year down the line, at a valuation to be decided on by an independent team.
Chirac said that such a move will allow companies like Areva SA to supply nuclear plants to meet India's growing energy needs.
Ahmedabadbased Suzlon Energy has tied up funds for its Euro1.2 billion (Rs 6,543 crore) bid for the German power company, REpower, even before the last date for raising bid by the rival French giant Areva expires on Thursday.
Under a 2010 nuclear liability law, nuclear equipment suppliers are liable for damages from an accident, which companies say is a sharp deviation from international norms
During the talks with Prime Minister Narendra Modi, French President Francois Hollande reassured reliable, uninterrupted and continued access to nuclear fuel supply throughout the entire lifetime of the plants while acknowledging India's need for the same.
The 30-share Sensex ended up 165 points at 29,044 and the 50-share Nifty gained 54 points to close at 8,834.
India has a huge power demand and needs to replace polluting coal, as source on energy
About 4 GW of new nuclear power capacity is under construction in India
Prime Minister Narendra Modi met top French business leaders with an aim of bringing French investment and technologies to India.
'Make in India' will be central to Mr Modi's visit to Europe and Canada. It is difficult to predict what will happen with the Rafale deal, but if it goes through, it will undoubtedly become the 'Mother' of all 'Make in India' projects,' says Claude Arpi.
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