The IL&FS Board sought the approval of the National Company Law Tribunal to sell seven wind assets to Japan’s Orix Corporation for Rs 4,800 crore. This will help reduce its debt burden of Rs 94,000 crore.
Rajasthan Energy Minister B D Kalla on Tuesday said the government would bring a new renewable energy policy in the state. Speaking at a seminar on ”exploring renewable energy potential in the state of Rajasthan” on the 75th birth anniversary of former prime minister Rajiv Gandh
The United States has removed nearly 2.7 million barrels of Iranian oil from global markets daily as a result of Washington’s decision to reimpose sanctions on all purchases of Iran’s crude, U.S. Secretary of State Mike Pompeo said on Tuesday.
Oil prices fell on Tuesday on persistent concerns over future demand, but losses were capped by optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown.
The Central Board of Direct Taxes (CBDT) has clarified that ‘farm in’ expenditure incurred by oil exploration and production (E&P) companies would be treated as an ‘intangible asset’ and would be eligible for claim of depreciation.
Chief Minister Mamata Banerjee on the occasion of National Renewable Energy Day, today said, the Bengal government is drawing up major schemes for the promotion of solar power & other sources of renewable energy like tidal power in the state.
Lenders to Ratnagiri Gas and Power Pvt. Ltd. have agreed to move ahead with a resolution plan, which includes a conversion of part of the company’s debt into cumulative redeemable preference shares, two bankers familiar with the plan told BloombergQuint, on condition of anonymity.
Two workers were killed and a few others were feared trapped after a part of Jhilimili coal mines in Koriya district caved in on Tuesday. Police teams are present at the spot and rescue operation is underway.
State-owned gas utility GAIL India Ltd will invest over Rs 45,000 crore over the next five years to expand the National Gas Grid and city gas distribution network, its chairman Ashutosh Karnatak said on Tuesday.
The central government has cancelled the joint allocation of a coal block in Odisha to state-owned NTPC and Jammu & Kashmir State Power Development Corporation. NTPC and Power Development Department, Jammu and Kashmir, had earlier requested the coal ministry for cancellation of the coal block.