T&D News
REC approves seven SPVs for power transmission projects
The Board of Directors of REC Ltd in its meeting held on March 25, 2020 inter-alia approved the proposal for incorporation of seven project specific special purpose vehicles (SPVs).
IndiGrid board approves acquisition of GPTL from Sterlite Power
- Apr 10, 2020
The Board of the Investment Manager of IndiGrid, India’s first InvIT in the power sector, has approved the acquisition of Gurgaon Palwal Transmission Ltd (“GPTL”) from Sterlite Power, at a value of up to Rs.10.80 billion (US$ 140 million). This acquisition would increase the AUM of IndiGrid by 10 per cent to US$ 1.75 billion.
CERC cuts late payment surcharge for discoms
- Apr 3, 2020
The Central Electricity Regulatory Commission (CERC) on April 3, 2020, ordered reduction in late payment surcharge (LPS) payable by discoms to generation and transmission companies to 1 per cent per month from the earlier 1.5 per cent, for delayed clearance of dues. The move comes in the wake of the Coronavirus lockdown.
Sterlite Power teams up with key partners for GEC project
- Mar 30, 2020
Sterlite Power announced that it is joining hands with GE T&D India Ltd, Unitech Power Transmission Ltd. (UPTL), Tata Projects Ltd (TPL) and Associate Power Structures Pvt. Ltd (APSPL). This partnership will implement OEM & EPC solutions in the execution of its Green Energy Corridor (GEC) project – Lakadia Vadodara Transmission Project Ltd.
IndiGrid acquires ninth power transmission asset from Sterlite Power
- Mar 23, 2020
India Grid Trust (“IndiGrid”), India’s leading infrastructure investment trust, has announced the acquisition of another transmission asset, East North Interconnection Company Ltd (ENICL), from Sterlite Power at a value of $134 million. With this acquisition, IndiGrid’s AUM will increase by 10 per cent to around $1.6 billion. IndiGrid’s asset portfolio will increase to nine power transmission projects, with a total network of 20 power transmission lines spanning across more than 5,800 ckm across 13 Indian states.
Government spending can boost metering business: HPL Electric
- Feb 17, 2020
In line with the Central government’s plan of having 25 crore prepaid smart electricity meters over the next three years, several state government power distribution utilities have begun gearing themselves to replace conventional (analog) meters with smart meters, observed Gautam Seth, Joint Managing Director, HPL Electric & Power Ltd. He was quoted in a press statement announcing the company’s financial results for the nine months ending December 31, 2019.
IndiGrid set to acquire another transmission asset from Sterlite Power
- Jan 30, 2020
IndiGrid, India’s first infrastructure investment trust (InvIT), has approved the acquisition of East North Interconnection Transmission Company Ltd (“ENICL”) from Sterlite Power at a value of Rs.1,020 crore This acquisition would increase the assets under management (AUM) of IndiGrid by 10 per cent to around Rs.12,100 crore.
Siemens to acquire C&S Electric in Rs.2,100-crore deal
- Jan 25, 2020
Siemens Ltd, on January 24, 2020, signed an agreement to acquire New Delhi-based C&S Electric Ltd. The acquisition of one of the leading providers of electrical and electronic equipment for infrastructure, power generation, transmission and distribution, will strengthen Siemens’ position as a key supplier of low-voltage power distribution and electrical installation technology in one of the world’s fastest-growing economies, a release from Siemens said.