Gautam Adani, India's second-richest man, and seven others including his nephew Sagar have been charged with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion profit over 20 years.
Ratnagiri Gas and Power Pvt Ltd, the new owner of Dabhol power plant, will restart generation in October after a three-month gap, but the cost of power will jump to about Rs 6.25 per unit from Rs 4.25 earlier.
The government told the Bombay high court on Friday that the empowered group of ministers decided that Mukesh Ambani-led RIL will start supplying gas from the KG basin to Anil Ambani's Dadri power project and other upcoming power plants once it is ready to begin operations.
Prime Minister Manmohan Singh on Saturday said the Kudankulam Nuclear Power plant, whose commissioning has been stalled due to protests, cannot be allowed to remain "idle" when the nation has sunk an amount of Rs 14,000 crore on the project.
The government has asked Reliance Industries to supply natural gas from the company's eastern offshore D6 fields to the beleaguered Dabhol power plant, a segment that gets top preference for gas allocation along with fertiliser units.
The $3 billion Dabhol power plant in Maharashtra is likely to be completed by 2007-end, the Empowered Group of Ministers was informed on Thursday.
A day after the Tamil Nadu government gave its go ahead to the Koodankulam Nuclear Power Plant, work at the Indo-Russian project started in full swing with officials expressing hope that the first unit would be commissioned "as soon as possible."
Leaders of various parties and outfits, including Marumalarchi Dravida Munnetra Kazhagam leader Vaiko, were on Friday arrested in Tirunelveli when they attempted to proceed to Idinthakarai, the epicentre of protests against the Kudankulam Nuclear Power Plant, to express their solidarity with the locals demanding the scrapping of the Indo-Russian project.
While 33 per cent Indians favour building new plants, 23 per cent would like the existing ones to continue and are against building new ones.
Essar group on Friday announced the signing of a USD 2.4 billion (Rs 19,000 crore) deal to sell certain ports and power infrastructure to ArcelorMittal Nippon Steel in one of the largest post-pandemic merger and acquisition deals in India. In a statement, the Ruia-run firm said the deal also envisages a 50-50 joint venture between Essar and ArcelorMittal for building a 4 million tonnes a year LNG import terminal at Hazira in Gujarat. Without giving details, it only identified certain ports and power infrastructure that are primarily captive to operations of the Hazira steel plant, which was acquired by ArcelorMittal Nippon Steel (AM/NS) in 2018-19, as part of the deal.
Experts identify two major advantages in building solar plants atop canals: efficient and cheap land use, and reduced water evaporation from the channels underneath
Chinese companies are building $7bn of power plant equipment for customers in India, in a business that is underpinning growing trade between Asia's second and third largest economies.
Driven by mega investment proposals from Tata Power, Adani group, Singapore's Sembcorp Industries and Leap Green Energy, among others, the two-day Global Investors Meet 2024 in Tamil Nadu is expecting an infusion of around Rs 6.64 trillion. This is likely to create around 2.69 million direct and indirect jobs in the state. "Due to our tireless efforts and your participation during this Global Investors' Meet, we have attracted an unprecedented Rs 6.64 trillion of investments.
Arun Maira who worked for 25 years with the Tata Group, remembers his early years with Ratan Tata.
Tata Power, Sesa Sterlite and Hindustan Zinc likely to be hit.
Power Ministry on Tuesday held discussions with National Thermal Power Corporation and financial institutions, including IDBI, as part of efforts to restart power generation at the idle Enron-promoted Dabhol Power project.
Truck movements across the India-Bangladesh border are on the rise, with increasing rentals signalling a trade recovery between the two South Asian nations. Yet, geopolitical tension looms large, with Bangladesh now under an interim government for nearly two months.
According to the activists, hundreds of people from Madban, Jaitapur, Nate and other villages in the district on Monday held spontaneous protests against the 9,900 MW project.
Oil and Natural Gas Corporation will take 50.5 per cent stake in the company that will set up the over Rs 2,000-crore (Rs 20 billion) Tripura power project and the associated transmission lines.
Prime Minister Narendra Modi on Saturday launched a scathing attack on the Congress party, accusing it of repeatedly "wounding" the Indian Constitution. He claimed that the Congress, driven by its "lust for power," has consistently undermined the principles of the Constitution. Modi, however, praised India's democratic journey since its independence, highlighting the country's strong democratic roots and its unwavering commitment to its founding principles. He underscored the importance of unity for India's future development and emphasized that the Constitution is the bedrock of that unity.
In what would be the second biggest initial public offer, Naveen Jindal-promoted Jindal Power Ltd plans to raise up to Rs 10,000 crore in this financial year.
National Aluminium Company (Nalco) has chalked out plans to enter the power business through the special purpose vehicle (SPV) route. The company plans to produce over 2000 MW by 2016.
A Chinese executive has been sentenced to a year in prison and ordered to pay penalty of $100,000 for conspiring to illegally export high-performance coatings to a nuclear power plant in Pakistan.
Niira Radia had said friends in high places enabled favourable EGoM decision on Sasan coal diversion, a charge staunchly denied by Reliance Power.
Duty cut on raw material imports are not likely.
The total requirement of regassified-LNG for operation of Block number 2 and 3 at base load is 5.7 million standard cubic meters per day. However from December 14, suppliers of RLNG -- GAIL, Indian Oil, Bharat Petroleum -- are supplying only 4.506 mmscmd.
Bid date for Allahabad project postponed on fears of higher tariff quotes.
India will acquire a few more reactors from Russia in the near future and sites to erect these are currently being selected.
Reliance Power (R-Power), the Reliance-ADAG group company, which plans to set up 28,000 mw of power plants in India, has secured $1 billion (or around Rs 4,200 crore) funding from three Chinese banks for the Sasan ultra mega power project (UMPP) in Madhya Pradesh.
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India's hydroelectric power generation grew 17.5 per cent to 7.5 billion units in January this year from 6.4 billion units in the same month of 2012.
With the first unit of the Kudankulam Nuclear Power Plant all set to commence power generation, Tamil Nadu Chief Minister J Jayalalithaa on Wednesday demanded that the entire power produced from it be given to the state.
The Bodoland Territorial Region in Assam is slowly picking up the pieces and finally finding peace after being subjected to decades of insurgencies and violence.
We no longer have the ambition to rival China save through words. We are happy to be fighting ourselves and digging up disputes from centuries ago as a substitute for real development, argues Aakar Patel.
United States President Barack Obama has said that he was not worried about radiation from the quake hit Japanese nuclear power plant reaching Hawaii.
Anil Ambani Group firm Reliance Energy, Tata Power, GMR and aluminium manufacturer Nalco are keen to enter nuclear power business, NPCIL Director (Finance) JK Ghai said.
Public sector blue chip firm National Aluminium Company, the largest manufacturer and exporter of aluminium in the country, proposes to make a foray into wind power generation.
As the protest against Koodankulam Nuclear Power Plant in the Tirunelveli district of Tamil Nadu continued to gather momentum with over 20,000 people staging a relay fast on Wednesday, the state government invited representatives of the core group spearheading the stir for talks.
Tata Power, the country's largest private sector power company, plans to foray into the shipping and logistics business in order to facilitate coal procurement for its power plants.
