Kumar Mangalam Birla-controlled Aditya Birla Group, which tied up with private equity house Abraaj Group in 2015 for its renewable energy business, is said to be seeking a new investor for the business, two people aware of the development said.
Solar power company Sterling and Wilson Pvt. Ltd plans to enter the wind energy business in 2018-19 to become an integrated clean energy player, managing director Khurshed Daruvala said.
On 8 May, the US, under President Donald Trump, pulled out of the Iran nuclear deal.
India is poised to witness a number of transitions: in urbanization, demographics, infrastructure and energy systems.
Thermal power generation in January-March this year increased 5.2%, better than the 3% increase in the year-ago quarter. But earnings of leading companies in the sector proved to be a dampener.
Indian listed airlines had a turbulent flight during the March quarter, what with crude oil prices rising steadily. Yields declined year-on-year (y-o-y) at IndiGo and Jet Airways (India) Ltd.
At least four bidders have expressed initial interest in buying a controlling stake in Jhabua Power Ltd (JPL), a unit of Avantha Power and Infrastructure, two people aware of the development said.
GMR Infrastructure Ltd’s two main businesses of energy and airports are still not out of the woods. The company’s shares have fallen by 13% since its March quarter results were declared five days ago.
Sajjan Jindal-promoted JSW Energy has expressed interest in bidding for stressed assets of Bhushan Energy, the third among the Singhal family’s debt-laden companies that have been admitted in the bankruptcy court.
The rising aspirations and needs of citizens are driving India towards new-age infrastructure where “SMART” is the byword. Almost every new infra project, be it public or private, coming up in the country is bringing in elements such as internet, internet of things, automation and technology to make it a part of evolving Smart India.