The Anil Ambani-led Reliance Power fully acquired Jharkhand Integrated Power, a special purpose vehicle (SPV) floated to implement the 4,000-MW Tilaiya ultra mega power plant project, from Power Finance Corp.
The coal-based thermal power plant is being developed in Jharkhand at an estimated cost of Rs.20,000 crore.
This is the third ultra mega power plant secured by the company.
In addition, Reliance Power's two 4,000-MW ultra mega power plants are under implementation - the Sasan project in Madhya Pradesh and the Krishnapatnam plant in Andhra Pradesh.
Showing posts with label Reliance Power. Show all posts
Showing posts with label Reliance Power. Show all posts
Friday, August 7, 2009
Wednesday, July 29, 2009
Reliance Power posts Rs.100 crore net profit
Reliance Power has posted a net profit of Rs.100.56 crore ($21 million) for the quarter ended June 30 as against Rs.59.7 crore reported in the like period last year.
The total income has increased to Rs.144.24 crore from Rs.77.67 crore, the company said in a statement.
The company posted a consolidated net profit of Rs.263 crore for the quarter as compared to Rs.61 crore reported in the corresponding period last year.
The total income has increased to Rs.144.24 crore from Rs.77.67 crore, the company said in a statement.
The company posted a consolidated net profit of Rs.263 crore for the quarter as compared to Rs.61 crore reported in the corresponding period last year.
Thursday, February 12, 2009
Reliance Power bags third ultra mega power projec
The government Thursday handed over the letter of intent for the Tilaiya ultra mega power project (UMPP) to Reliance-Anil Dhirubhai Ambani Group (R-ADAG), being set up at an investment of over Rs.120 billion (Rs.12,000 crore/$2.4 billion).
This is the third UMPP awarded to group company Reliance Power, with the other two being at Sasan in Madhya Pradesh and Krishnapatnam in Andhra Pradesh.
"Recognising the fact that economies of scale leading to cheaper power could be secured through large size power projects and for introducing the efficient super critical technology in a big way, a unique initiative had been launched for the development of UMPPs under tariff-based international competitive bidding route," the government said in a statement.
"Development of 4,000 MW power project through a tariff-based bidding process is the first of its kind in the world," it added.
Reliance Power was awarded the Tilaiya project in Jharkhand late last month.
"We have been awarded the Tilaiya project. We bid the lowest per unit cost of Rs.1.77. We will generate 4,000 MW," a senior official of Reliance Power told IANS after a high-powered committee named his company the winner.
Besides Reliance, four other companies had bid for the project. These included the state-run power utility NTPC, Jindal Power, Lanco Infratech and Sterlite Energy. They were among the 11 that had met the pre-bid criteria, officials said.
With the Tilaiya project also in its kitty, Reliance Power has a portfolio to generate over 30,000 MW of power in the country. The group is now developing as many as 14 medium- and large-sized power projects, company officials said.
Of these, projects in western India will account for 12,220 MW, north for 9,080 MW, east for 4,000 MW, northeast for 2,900 MW and the south for 4,000 MW.
The group's 7,480-MW project to be located at Dadri in Uttar Pradesh, not far from the national capital, is expected to be the world's largest gas-fired power project at a single location, officials said.
This is the third UMPP awarded to group company Reliance Power, with the other two being at Sasan in Madhya Pradesh and Krishnapatnam in Andhra Pradesh.
"Recognising the fact that economies of scale leading to cheaper power could be secured through large size power projects and for introducing the efficient super critical technology in a big way, a unique initiative had been launched for the development of UMPPs under tariff-based international competitive bidding route," the government said in a statement.
"Development of 4,000 MW power project through a tariff-based bidding process is the first of its kind in the world," it added.
Reliance Power was awarded the Tilaiya project in Jharkhand late last month.
"We have been awarded the Tilaiya project. We bid the lowest per unit cost of Rs.1.77. We will generate 4,000 MW," a senior official of Reliance Power told IANS after a high-powered committee named his company the winner.
Besides Reliance, four other companies had bid for the project. These included the state-run power utility NTPC, Jindal Power, Lanco Infratech and Sterlite Energy. They were among the 11 that had met the pre-bid criteria, officials said.
With the Tilaiya project also in its kitty, Reliance Power has a portfolio to generate over 30,000 MW of power in the country. The group is now developing as many as 14 medium- and large-sized power projects, company officials said.
Of these, projects in western India will account for 12,220 MW, north for 9,080 MW, east for 4,000 MW, northeast for 2,900 MW and the south for 4,000 MW.
The group's 7,480-MW project to be located at Dadri in Uttar Pradesh, not far from the national capital, is expected to be the world's largest gas-fired power project at a single location, officials said.
Tuesday, April 22, 2008
Reliance Power shareholders approve bonus issue
Reliance Power has received shareholders' approval to issue 3:5 bonus shares to its shareholders excluding chairman Anil Ambani and other promoters.
"The shareholders through postal ballot have approved the proposals entailing that no allotment of bonus shares will be made to Anil Ambani and other promoters who waived their entitlement to such shares," the company informed the Bombay Stock Exchange Tuesday.
Reliance Power had recommended the issue of 136.8 million bonus shares in the ratio of three new equity shares of Rs.10 each for every five existing equity shares of Rs.10 held by the shareholders in the public category (excluding the promoters).
Ambani has gifted 61.5 million shares of Reliance Power to Reliance Energy, both part of the Reliance Anil Dhirubhai Ambani group, to ensure no dilution in holdings of the latter in the former, the statement added.
Indo-Asian News Service
"The shareholders through postal ballot have approved the proposals entailing that no allotment of bonus shares will be made to Anil Ambani and other promoters who waived their entitlement to such shares," the company informed the Bombay Stock Exchange Tuesday.
Reliance Power had recommended the issue of 136.8 million bonus shares in the ratio of three new equity shares of Rs.10 each for every five existing equity shares of Rs.10 held by the shareholders in the public category (excluding the promoters).
Ambani has gifted 61.5 million shares of Reliance Power to Reliance Energy, both part of the Reliance Anil Dhirubhai Ambani group, to ensure no dilution in holdings of the latter in the former, the statement added.
Indo-Asian News Service
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