A consortium of lenders led by Axis Bank has issued a letter of intent approving Adani Power’s resolution plan to acquire controlling equity stake and restructure debt in GMR Chhattisgarh Energy Limited (GCEL).
Adani Electricity Mumbai Ltd. (AEML) announced its safety measures to be prepared for the monsoon season. In a safe way, it welcomed the season. It has activated its Central Disaster Control Room (CDCR)
Strange indeed are the ways of the some of India’s electricity regulatory authorities.
Shares of Adani Power Thursday jumped nearly 7 per cent after the company reported a consolidated net profit of Rs 634.64 crore for the fourth quarter ended March 31.
Adani Power Wednesday reported consolidated net profit of Rs 634.64 crore for the fourth quarter ended March 31, mainly on the back of higher revenues. It had posted a consolidated net loss of Rs 653.25 crore in the same period previous fiscal, the company said in a BSE filing.
A recent order from India’s top regulatory authority for the energy sector threatens to impose costs that run into trillions of rupees on several states and undermine the sanctity of Power Purchase Agreements (PPAs) across the country. It could also undermine contractual laws and established procedures for tenders and bids for government contract
The latest decision by the Central Electricity Regulatory Commission (CERC) to allow fuel cost pass through for Adani Power’s Mundra project through a supplementary PPA is a major positive sign for imported coal-based Independent Power Producers (IPPs), ratings agency ICRA said today.
Adani Power shares fell 4.5 percent in the morning trade on April 15 after global research house CLSA retained sell call on the stock despite the power regulator allowed higher tariff for Mundra unit.
In a move that may set a precedent and raise electricity tariffs, India’s apex power sector regulator on Friday approved the revised power purchase agreements (PPAs) for billionaire Gautam Adani’s promoted Adani Power Ltd’s Gujarat plant on account of the unexpected increase in the prices of imported coal.
Adani Power shares rallied nearly 9 percent intraday on April 12 after the power regulator approved higher tariff for the Mundra unit. But there was some profit booking towards close, which trimmed gains and the stock closed at Rs 52.95.