In talks with Nigeria, Kenya & Niger for development of transmission system.
Reliance Energy Limited has outbid seven other companies, including Tata Power and GMR, to emerge as the top contender for building India's first fully independent private power transmission lines.
Declining to be identified, sources said the company, which is the third largest transmission company in the country, did not find the expertise provided by IL&FS to the consultancy business up to the mark and accordingly, decided to end the JV.
PGCIL planned to take a loan of about $2 billion (Rs 8,350 crore) from World Bank and $1 billion (Rs 4,150 crore) from Asian Development Bank, Power Minister Sushilkumar Shinde told Rajya Sabha in a written reply.
The World Bank will give a loan of $1 billion (about Rs 5,000 crore) to power transmission company PGCIL this year for developing infrastructure in the sector.
Power Grid Corp of India Ltd is set to form joint ventures with five more companies, including Oil and Natural Gas Corporation and Essar, for setting up transmission lines in the country entailing a total investment of Rs 5,000 crore (Rs 50 billion).
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The Finance Ministry has filed the offer document with market regulator Securities and Exchange Board of India for the Central Public Sector Enterprises ETF, which could fetch the exchequer about Rs 3,000 crore (Rs 30 billion).
Benchmark equity indices Sensex and Nifty rebounded on Thursday after three sessions of losses, tracking gains in global markets after US President Donald Trump struck a conciliatory tone on Greenland. In a volatile session, the 30-share BSE Sensex climbed 397.74 points, or 0.49 per cent, to close at 82,307.37.
Indian stock markets recovered from early losses to close higher, driven by value buying in IT and banking shares and a rebound in the rupee.
Power distribution company officials said several areas, largely in central and east Delhi, were affected due to the failure. Some areas in north Delhi also faced outages.
From the Sensex pack, Eternal, Maruti Suzuki India, Kotak Mahindra Bank, Mahindra & Mahindra, Tech Mahindra, Titan, HDFC Bank, PowerGrid, Bajaj Finserv, HCL Technologies, Bajaj Finance and Larsen & Toubro were among the gainers. On the other hand, Tata Motors Passenger Vehicles, Asian Paints, UltraTech Cement, Bharat Electronics Ltd, Tata Steel, Adani Ports, Hindustan Unilever, ITC, Tata Consultancy Services and Reliance Industries were the only laggards.
Stock markets will be mainly driven by quarterly earnings by corporates, foreign fund flows and global trends this week, analysts said.
The import of power is expected to start by late 2012. The state-run Bangladesh Power Development Board on Monday signed the deal with Power Grid Corporation of India Ltd at a ceremony in Dhaka.
Have you heard of an electronic exchange to trade electricity? Soon, online power exchanges will be a reality in India.
Southern states have been asked to reduce load for maintaining 'grid discipline' to avert power blackouts like the one caused by the collapse of three grids which has hit 22 states in north, east and north-east region.
With disinvestment on hold, the power ministry now seeks approval for initial public offers of power companies.
Only Mumbai and parts of Vidharbha were spared.
Corporate India is embarking on an ambitious investment drive, with capital expenditure (capex) expected to double to $850 billion over the next five years, according to a report by S&P Global Ratings. Indian power & transmission, airlines, and green hydrogen sectors would spearhead the spending, the report said.
74 of these fatalities were reported by 8 companies: Coal India (21), L&T (14), Vedanta (13, of which Hindustan Zinc reported 7), Tata Steel (7), Power Grid Corporation of India (7), JSW Steel (6), and ONGC (6).
The first unit of the Kudankulam Nuclear Power Plant was synchronised with the southern power grid on Tuesday, marking a major milestone in power generation of the ambitious Indo-Russian nuclear collaboration in Tamil Nadu.
Tata Power Company Ltd has won a contract worth Rs 49 crore (Rs 490 million) from state-run Power Grid Corporation of India, the Bombay Stock Exchange said on Tuesday.
Unable to kickstart its maiden transmission project even two years after winning the bid, Reliance Energy Ltd has now sought government intervention to ensure that state-run Power Grid Corporation of India Ltd signs the joint venture agreement.
Earlier this year, the government raised around Rs 1,000-crore by selling its stake in Satluj Jal Vidyut Nigam.
From the Sensex pack, Zomato jumped nearly 5 per cent, followed by Titan which climbed almost 4 per cent. IndusInd Bank, Maruti, Tech Mahindra, Adani Ports, Bharti Airtel and HDFC Bank were also among the gainers.
A milestone in Russian-Indian nuclear cooperation with the arrival of a reactor pressure vessel for the Kudankulam atomic power plant.
Equity benchmark indices Sensex and Nifty ended lower on Friday, dragged by auto stocks and relentless foreign fund outflows. Weak US markets and tariff threats also dented investor sentiment. The 30-share BSE benchmark Sensex dropped 424.90 points or 0.56 per cent to settle at 75,311.06.
Kudankulam will house the largest nuclear power plants in India and the flagship project of Russian-Indian technological and energy cooperation.
With this, the unit has exited the construction phase and began the operational phase.
If nothing is done, the country is set to become 83 per cent energy-import-dependent by 2040.
The last batch of quarterly earnings, global trends and trading activity of foreign investors will guide the equity market movement in a holiday-shortened week ahead, analysts said. Volatility may continue amid investors' cautious approach in the election season. Markets will remain closed on Monday due to the fifth phase of the Lok Sabha elections in Mumbai.
Delhi, reeling under high temperatures and an acute electricity shortage, will get additional gas supplies from the National Thermal Power Corporation and Dabhol to increase power generation and help meet demand in the national capital.
The massive electricity grid failure earlier this week, that left a majority of India in darkness, has impacted the volumes of power generation companies. The worst power black-out in the world hit their revenues by an estimated Rs 550 crore (Rs 5.5 billion) in two days.
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