Mumbai: Essar Power Limited, India’s first private sector independent power producer made an announcement today that it has entered into a definitive agreement with Adani Transmission Limited to sell one of its two transmission lines for Rs 1,913 crore. The company stated: Essar Power Transmission Company Limited (EPTCL) has 465-km transmission lines across three Indian states - Gujarat, Madhya Pradesh and Chhhattisgarh. The asset transacted is an operational 400 kV inter-state transmission...Read More

Gandhinagar: The Government of Gujarat has today released the second statement and claimed that 'Revocation of GR dated 1.12.2018 by Govt. of Gujarat in the consumers’ interest'. The full text of the statement is following: On Govt. of Gujarat vide Government Resolution (GR) dated 12.06.2020 has revoked its earlier GR dated 1.12.2018 considering the subsequent developments, changed market trend of Indonesian coal price and in order to safeguard the interest of consumers. GR dated 1.12...Read More

Gandhinagar: Gujarat government today announced that it has revoked its December 2018 order allowing higher tariff to imported coal based power projects (by Tata Power, Adani Power and Essar). A statement issued by Additional Chief Secretary (Energy & Petrochemicals), Sunayna Tomar reads: Govt. of Gujarat had constituted a High Power Committee chaired by Shri. R.K. Agrawal (Retired Supreme Court Justice) to make recommendations for addressing the issue of imported coal based power projec...Read More

New Delhi: According to a news report in The Pioneer, the State Bank of India (SBI) has approached the Supreme Court looking into the implementation of recommendation of a committee which suggested a tariff increase or waiver of a portion of the loan owed to the bank by these companies. As per the SBI’s affidavit, the three power companies belong to Adani, Tata and Essar Groups and are operating in Gujarat and owe more than Rs 35,000 crore to it. At present the SBI is facing more than Rs 2....Read More

Mumbai: Burdened by a whopping Rs 20,369 crore debt, private utility Essar Power is looking to sell two of its gas-based plants in Gujarat to reduce debt, a senior company official said. "We are evaluating all options for monetising our assets. We are looking at selling two of our captive gas-based plants in Gujarat," Essar Power's Chief Financial Officer Alok Nagpal told PTI. The company has two captive gas-based plants in Hariza in Gujarat with a capacity of 500 MW and 515 MW each, ...Read More