Lenders obtain 55% share in GMR Rajahmundry Energy
The Dollar Business Bureau The GMR Rajahmundry Energy Ltd (GREL), subsidiary of GMR Infrastructure Ltd, said that lenders have acquired 55 percent share in the GREL after debt restructuring. "GREL’s group of lenders has adopted the Strategic Debt Restructuring Plan (SDR), as given under the scheme allowed by the Reserve Bank of India (RBI)," the company said in a statement. "In accordance with the Plan, GREL has issued equity shares in proportion to all the lenders, in its meeting held on Monday. As per the SDR Plan, out of entire debt of Rs.3,780 crore, an outstanding amount of Rs.1,414 crore has been transformed into equity by which the consortium of lenders got 55 percent holdings and the remaining share of 45 percent remained with ...
GMR Energy begins operation of 768-MW power plant in Andhra
The Dollar Business Bureau The clean fuel used in the plant will make the power generation eco-friendly GMR Rajahmundry Energy Ltd. (GREL), a subsidiary of GMR Energy Ltd., on Friday announced that it has successfully started commercial operation of its 768-MW gas-based power plant in Rajahmundry, Andhra Pradesh. “The commercial operation of the power plant commenced with the beginning of gas supply under e-bid RLNG Scheme (“Scheme for utilisation of stranded gas based power plants”), which was launched by the government of India in March, 2015,” GMR Infrastructure Ltd. said in a statement. With the e-bid RLNG (Regasified Liquefied Natural Gas) Scheme, the 768-MW power plant can now operate at 50% Plant Load Factor (PLF). The unit can generate up to ...
