GMR sells two transmission projects to Adani
The Dollar Business Bureau GMR Infrastructure signed agreements with Adani Transmission to transfer its stake in two transmission projects in Rajasthan. According to the agreement, GMR will offload its stakes in Maru Transmission Services and Aravali Transmission Services and sell it to the Adani Group Company. GMR Infrastructure subsidiary will transfer 74% stake in Maru Transmission Services and 49% stake in Aravali Transmission Services to Adani Transmission with an option to continue with holding 26% stake in Maru Transmission Services and 51% in Aravali Transmission Services. However, the consummation of transaction is subject to applicable approvals. GMR Infrastructure in its press release claimed, “The equity consideration ascribed for the transaction involving both the projects is Rs 100 crore. The total value realisable for ...
Ten stranded gas-based power plants to be revived
The Dollar Business Bureau Ten stranded gas-based power generation plants have put themselves back on the line by bidding in an reverse e-auction process for generating 5.05 billion units of electricity. The power generated will be bought by Discom between June 1, 2015 and September 30, 2015 with support from the government to the tune of Rs 723.00 crore from the Power System Development Fund, said a PIB release. The grid connected gas based power generation capacity in the country is 24,150 MW. Of this, a capacity of 14,305 MW had no supply of domestic gas and is competely stranded. These comprise 29 plants of which 9 plants are yet to be commissioned. All these plants were eligible to participate ...
