Power News We love to talk!
Jindal Power Ltd, a subsidiary of Jindal Steel and Power Ltd, has sold its 4.12 per cent shareholding in India Energy Exchange, as part of the group's efforts to bring down its debt.
Sources in the know of the development indicated that the stake sale could fetch Jindal Power Ltd a little under Rs. 100 crore. Rating agencies have downgraded the company’s credit rating. In the nine months of fiscal 2015-16, the company has reported a net loss of Rs. 1,636 crore, while its net revenue was Rs. 13,539 crore.
On Monday, JSPL said that its financials have been adversely impacted by the cancellation of coal blocks in 2014, payment of an additional levy of more than Rs. 3,300 crore in the 2014-15 and 2015-16 due to a Supreme Court order and the weakness in the steel industry.
- Suzlon Energy bags order to set up 90 mw wind energy project for ReNew Energy Read more
- UPERC disposes off UPPCLs petition for RfP approval for Jawaharpur TPP Read more
- High Court upholds quashing of CIL's revised transportation rates Read more
- BSES deploys smart monitoring system for Delhi power consumers Read more
- Bid for 500 MW delayed as industry body seeks central govt guidelines Read more
- Coalscam: Jindal, Rao, Koda & others to appear in court Read more
- Commercial coal mining to boost pvt investments in coal sector Read more
- Government plans to award projects worth Rs 50,000-crore for linking solar parks to power utilities without auction Read more
- Indias fuel demand surges 6.7 per cent in October on higher auto fuel use Read more
- IT parks, schools, hospitals opt out of grid, embrace green energy for power Read more