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MUMBAI: Indian wind turbine major Suzlon Energy refuted media reports that French engineering conglomerate Alstom SA is evaluating a potential offer to acquire its subsidiary REpower Systems, saying it was “entirely speculative”. Shares of Suzlon Energy soared 5% to an intra-day high of Rs 30.75 on a report in...
CHENNAI: Windmill owners are considering partnering directly with wind energy consumers to facilitate power trading and get around power supply restrictions. The Tamil Nadu Spinning Mills Association (TASMA) along with its members is likely to float a special purpose vehicle (SPV) in which the windmill owners and power consumers...
NEW DELHI: A consortium comprising Tata Power Co. Ltd and SN Power Norway is in talks to buy a significant stake in a 96 megawatts (MW) hydropower project in Sikkim from Sarda Energy and Minerals Ltd in a transaction valued at about Rs.200 crore, according to two people aware...
NEW DELHI: Government has asked power producers to refrain from setting up new gas-based plants as dwindling fuel supply is threatening viability of 37,000-MW of existing and upcoming projects. The power ministry has issued an advisory to developers for not planning projects based on domestic gas till 2015-16. The...
Gazprom, the world’s largest natural-gas exporter, is struggling to get a foothold in the Asian markets leading global economic growth. The Russian company’s plan to supply liquefied natural gas to India from 2016, the year the US is set to start gas exports, is faltering after buyers said they’re...
MUMBAI: State-run energy major Oil and Natural Gas Corporation (ONGC) is close to filling two key senior management positions as the Public Enterprises Selection Board ( PESB) has recommended names of PK Borthakur – executive director and asset chief, Mumbai High – for the post of director (offshore), and...
NEW DELHI: Trinamool Congress leader Mamata Banerjee’s outburst against her own party member and railway minister Dinesh Trivedi for raising passenger fares has demoralised state oil companies as they fear the government would not be able to raise fuel prices despite mounting losses. Senior executives of Indian Oil Corp,...
MUMBAI: Cairn India’s stock has lost some steam after seeing an excellent run-up of 60 per cent from its 52-week low of Rs 250 in August last year to its 52-week high of Rs 400.95 on this February 22. The stock is down around seven per cent from its...
KOCHI: The Petronet LNG Terminal (PLL) at nearby Puthu Vypeen is likely to be commissioned by November-December this year, a top company official has said. “Completion of the Kochi LNG terminal is on track and satisfactory. We hope by November-December we should be looking at commissioning of the terminal....
DIBRUGARH: Brahmaputra Cracker and Polymer Limited (BCPL) was set to implement the Gas Cracker project at Lepetkata in Assam’s Dibrugarh district on schedule, according to Secretary, Ministry of Chemical and Fertiliser K Jose Cyriac. “The progress of the project has improved and is now proceeding as scheduled with mechanical...