Adani Green to acquire SB Energy s India renewable energy portfolio for $3 5 bn thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Shares of Adani Green Energy were locked in the 5 per cent upper circuit band for the second straight day, at Rs 1,199.65 on the BSE on Tuesday, after a
Bloomberg report suggested that the Adani Group Company is in advanced talks to acquire privately-held SB Energy Holdings Ltd.
Trading volumes on the counter nearly doubled, with a combined 708,026 equity shares having changed hands on the NSE and BSE till the time of writing of this report. There were pending buy orders for around 125,000 shares on both the exchanges, data shows.
Despite two consecutive days of gains, Adani Green Energy has underperformed the market over the past six months by gaining 11 per cent as compared to a 13 per cent rise in the S&P BSE Sensex. The stock of the renewable power company had hit an all-time high of Rs 1,341.60 on March 24, 2021.
Wind power projects with the cumulative generation capacity of 1,020.3MW were installed and commissioned in Gujarat from April 2020 to March 21. (Image used for representational purpose only)
AHMEDABAD: Gujarat continues to be the preferred destination for setting up wind power projects in India. Despite the challenges posed by the Covid-19 pandemic, Gujarat witnessed the highest addition of wind power generation capacity in the country in 2020-21.
Wind power projects with the cumulative generation capacity of 1,020.3MW were installed and commissioned in Gujarat from April 2020 to March 21. That was the highest capacity addition by any state in India during the period, shows data compiled by Indian Wind Turbine Manufacturers Association (IWTMA).
Solar power majors get $3-billion shock from Supreme Court order
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Developers estimate the total cost to change the existing overhead wires to underground cables at ₹22,000 crore (approximately $3 billion), requiring a tariff hike of 10-15% if they have to bear this entire cost, industry insiders said.
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Emails to SB Energy, ReNew, Adani Green, Acme Solar, Hero Future Energies and NTPC were not answered till press time on Monday.
A Supreme Court order that requires overhead power lines to be taken underground in the habitats of a critically endangered bird is likely to hurt the financial viability of solar projects in Rajasthan and Gujarat. Developers estimate the total cost to change the existing overhead wires to underground cables at Rs 22,000 crore, requiring a tariff hike of 10-15% if they have to bear this entire cost, industry insiders said.
Shares of JSW Energy hit a fresh 52-week high of Rs 120.35, up 9 per cent on the BSE, in the intra-day trade on Wednesday on the back of a two-fold jump in trading volumes after global rating agencies Moody s Investors Service and Fitch Ratings assigned long-term ratings to the JSW Energy s wholly-owned subsidiary, JSW Hydro Energy Limited with stable outlook. The rating has been assigned to JSW Hydro Energy Limited s proposed US-dollar senior secured notes due 2031.
The stock of the electric utilities company surpassed its previous high of Rs 116 touched on May 4. Menawhile it had hit an all-time high of Rs 136 on September 6, 2010. At 02:11 pm, JSW Energy shares were trading 7 per cent higher at Rs 117.95 on the BSE, as compared to a 0.47 per cent rise in the S&P BSE Sensex. A combined around 22 million equity shares had changed hands on the NSE and BSE till the time of writing of this report.