Adani Welspun Exploration, a joint venture between the Adani Group and Welspun Enterprises, announced its first ever gas discovery in the NELP-VII block MB-OSN2005/2. AWEL holds 100% participative interest (PI) and is the Operator of this Block. Spread across 714.6 sq.km., the block is located in the prolific gas-prone Tapti-Daman Sector of Mumbai Offshore basin where production is already underway by another operator / other operators.
The pay zones and flow rates encountered have exceeded the company s initial estimates. With the information gleaned from adjoining fields/areas, this discovery is of substantial significance for both the Company and the Nation.
AWEL was awarded the block under the New Exploration Licensing Policy VII bid round.
Read more about Inox Wins to set up 92 MW of wind power projects for Integrum Energy on Business Standard. The agreement includes a turnkey order of 26 MW for which Inox Wind will provide Integrum Energy with end to end solutions from development and construction to commissioning and providing long term operations and maintenance services.
Adani Wind Energy Kutch Three (AWEKTL), a subsidiary of Adani Green Energy, commissioned a 100 MW Wind Power Plant in Kutch (Gujarat) 5 months ahead of its schedule. This is the 5th project commissioned before schedule by the company over the past 12 months.
The plant has Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) at Rs. 2.82/kwh.
With the successful commissioning of this plant, the company has an operational wind generation capacity of 497 MW.
AGEL has total renewable capacity of 14,815 MW including 11,470 MW that have been awarded and are different stages of implementation. With this project the company has added total renewable capacity of 800 MW since the last 12 months the company has added despite the challenges of the COVID19 outbreak.
Adani Ports & Special Economic Zone rose 1.12% to Rs 756.95 after the company s board approved an allotment of upto 1 crore equity shares to Windy Lakeside Investment on a preferential basis.Windy Lakeside Investment is an affiliate of private equity firm Warburg Pincus. The shares will be issued on a preferential basis at a price of Rs 800 per equity share, aggregating to Rs 800 crore.
Post allotment, Windy Lakeside Investment will hold 1 crore equity shares, constituting 0.49% of the share capital, of Adani Ports. The transaction is subject to the approval of regulatory/statutory authorities and the shareholders of the company.
Further, Adani Ports announced that an extraordinary general meeting (EGM) of the firm s shareholders will be held on April 6 to seek approval for the proposed preferential issue.
Read more about IFCI Ltd leads gainers in A group on Business Standard. Adani Total Gas Ltd, Shoppers Stop Ltd, Jindal Stainless Ltd and Gujarat State Petronet Ltd are among the other gainers in the BSE s A group today, 03 March 2021.