District collector in Singrauli has asked Essar Energy’s thermal power plant to deposit a sum of Rs 50 lakhs against crop loss farmers have suffered following collapse fly-ash dyke mud wall collapse. Company has reportedly agreed to it.
In a relief to Essar Power Gujarat (EPGL), the Gujarat government has given three years’ time to the company to pay penalty exceeding Rs 200 crore for not supplying power as per the power purchase agreement (PPA) during the past two financial years.
The National Company Law Tribunal has rejected Rs 1,200 crore offer by the former promoters of Essar Power Jharkhand Ltd (EPJL) for one-time settlement with the lenders and take the debt-ridden company out of insolvency proceedings.
The Ministry of Coal has issued notices to Essar Power and GMR Energy to confiscate their bank guarantees worth up to Rs 900 crore following a judgment by the Delhi High Court rejecting the companies’ petition to surrender their coal blocks.
In a big relief to power, sugar, shipping and other companies, the Supreme Court on Tuesday set aside a February 12, 2018 circular of the Reserve Bank of India via which the banking sector regulator had asked banks to take defaulting power, sugar, shipping and other sector companies to insolvency.
PwC on Thursday invited resolution plans from prospective bidders for Essar Power MP on behalf of its lead lender, ICICI Bank. The power asset owes its consortium of lenders around Rs 5,300 crore.
After Essar Steel, now Essar Power (EPL) has been taken to the National Company Law Tribunal (NCLT), Ahmedabad, by one of the lenders L&T Infrastructure Finance Company on Tuesday.
Essar Power’s Tori thermal power project (1,200 MW) in Jharkhand, which is undergoing insolvency proceedings, has so far been unable to draw the interest of buyers. The Insolvency Resolution Professional (IRP)
The company said both the 600 Mw units of the 1,200 Mw project are now operational and are supported by raw material sourcing and evacuation infrastructure
Essar Power, a wholly-owned subsidiary of the Ruia-owned Essar Group, today announced it has commissioned the second 600 megawatt (Mw) unit of the Mahan power plant in Madhya Pradesh, completing overall Rs 8,000 crore investment in the flagship project.
Essar Power adds to capacity of National Grid, commissions 337-km, 400 kV Mahan-Sipat transmission line
Essar Power now operates three transmission lines spanning over 465 km across three states, which have been built at an investment of Rs 2,400 crore; In generation, Essar Power now has seven operational plants in India and Canada, with a capacity of 3,830 MW
Essar Power on Wednesday announced that it has commissioned the 337-km Mahan-Sipat transmission line, the final leg of a 465-km transmission system consisting of three interstate transmission lines that have been built at an investment of Rs 2,400 crore.