Relaince Energy received the shareholders approval for raising funds through issue of securities.
Maharashtra chief minister Vilas Rao Deshmukh announced on Thursday sanctiong of Rs 2,356 crore for the first corridor of Varsova-Andheri-Ghatkopar rail project jointly to Anil Ambani group company Reliance Energy and MMRDA.
Anil Ambani and other promoters consolidated their stakes in REL to 52%.
Ambani-owned Reliance Energy is likely to bid for potential gas bearing blocks on offer under NELP-VI
In a major blow to Reliance Energy's plans to expand its business in power sector, the Central Electricity Regulatory Commission has rejected the application of the Anil Ambani-controlled company for a transmission licence.
Anil Ambani-owned Reliance Energy has approached state-owned gas utility GAIL (India) Ltd for transportation of gas to its proposed 4,000 MW power plant at Dadri.
Reliance Energy Ltd on Thursday launched electricity bills in Braille for its visually impaired customers and announced a project to promote Braille literacy among the blind in Mumbai.
The Indian majors had a last minute meeting with civil aviation ministry officials before filing their bids.
Reliance Energy Chairman Anil Ambani apologised to the company's customers on Tuesday for\nnon-supply of power to some parts of the rain hit metropolis.
Reliance Energy Limited started work at the project site of 7,480 MW gas-fired Dadri power plant in Uttar Pradesh on Thursday.\n
Sasan Power Ltd, the special purpose vehicle floated by Power Finance Corporation for the 4,000 MW project, will on Wednesday issue the Letter of Intent to Reliance Power Ltd.
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.
Anil Ambani group firm Reliance Energy on Tuesday said it has bought shares worth over Rs 230 crore, representing nearly 30 per cent of the buyback offer.Reliance Energy bought back 81,680 equity shares on Tuesday, it added. The last date for the buyback would be March 4, 2009, a year from the date of the Board's approval for the offer.
The power ministry is considering asking Reliance Energy to match the price offered by the Lanco Infratech-Globeleq consortium for power from the Sasan ultra mega power project.
The company clocked a revenue of Rs 1,983.93 crore (Rs 19.83 billion) in April-June 2007-08 as against Rs 1,325.97 crore (Rs 13.25 billion) in the corresponding quarter of the last fiscal.
Reliance Industries has acquired 1,36,22,707 equity shares of Reliance Energy from Reliance Industrial Investments and Holdings, a wholly-owned subsidiary of the company, on June 30 2005.
Uttar Pradesh Chief Minister Mayawati on Friday said all major decisions of the previous Mulayam Singh government, including Reliance Energy's Dadri power project, would be reviewed.
Anil Dhirubhai Ambani group company Reliance Energy said on Tuesday the amalgamation of Reliance Energy Ventures Ltd with itself has become effective from July 17.
Contrary to a lot of speculation reported in certain sections of media, Reliance Energy on Tuesday clarified that customer do not have to pay any charge for replacing the meters damaged by rains.
The Anil Ambani group firm is the sole bidder for the engineering, procurement and construction contract for DVC's proposed 1,000 MW thermal power plant at Raghunathpur in Purulia district of West Bengal.
Shares of Reliance Infrastructure and Reliance Natural Resources Ltd on Tuesday tanked in the range of 4-8 per cent on the bourses after reports surfaced that these two ADA Group firms are involved in fraudulent banking activities overseas.
Anil Ambani Group company Reliance Energy, top conglomerate Tatas and engineering giant L&T are among the shorlisted bidders for upgradation of Amritsar and Udaipur airports, financial bids for which will be invited by month-end. Airport Authority of India (AAI) had shortlisted five bidders each for the two airports. AAI will invite the request for proposals by month end and the outcome of this will be known possibly by middle of June. Fraport and Lanco are also shortlisted.
The commercial capital of India, which enjoys 24x7 power unlike any other cities of the country, is likely to suffer power cuts this summer owing to a dispute between the power distribution utilities Brihanmumbai Electric Supply and Transport and Reliance Energy Ltd over who should foot the bill for 300 Mw of power which is required to be bought to keep Mumbai free from power cuts.
After the controversy over pricing of gas from the Krishna-Godavari basin, the Ambani brothers are locked in another court battle.
The only company left in the race for the Rs 2,600-crore (Rs 26 billion) project is Mukesh Ambani-controlled Sea King Infrastructure Ltd as other bidders have withdrawn from the race.
Corporate leaders like Reliance Energy and Tata group have evinced interest in Punjab government's proposed three power plants of 5,000 mw - a move that will make the state power surplus within three and half years.
The company emerged successful in the revised evaluated bids for the project.
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.
That the Anil Ambani-owned Reliance Energy Limited (REL) will be affected by the Allahabad High Court's decision on the land acquired by it for its 7,500 Mw Dadri power plant is obvious since the entire process of inviting objections to the acquisition has to be initiated from scratch.
The Supreme Court on Wednesday upheld the power purchase agreement between Tata Power Company (TPC) and BEST, a public sector unit, for electricity allocation in Mumbai.
A bench headed by Justice C K Thakker while seeking reply from Tata Power and Maharashtra Electricity Regulatory Commission asked Tata Power Company not to take coercive measures against Reliance till the next date of hearing in July. Reliance has challenged the Appellate Tribunal for Electricity's order dated May 12, 2008 which ruled that TPC was entitled to recover charges for energy supplied to REL at the rate of Rs 2.09 per unit.
"A meeting of the board of directors of the company will be held on March 5 to consider buyback of equity shares of the company," Reliance Energy said in a communique to the Bombay Stock Exchange.
Corporate giants Reliance Energy, Tata Power and Essar are among the 11 companies left in the fray for the two 4,000 MW power projects to be set in Gujarat and Madhya Pradesh at an investment of Rs 20,000 crore (Rs 200 billion) each.
In the revised financial bids, Anil Ambani-controlled Reliance Power had emerged as the lowest tariff bidder last month vis--vis other power majors such as Lanco Infratech and National Thermal Power Corporation. Official sources said the government might go for re-bidding to bring down the quoted tariff, which is observed to be on the higher side. The ETF will meet on July 19 to take a final view.
