Six global equipment manufacturers —P and H and Caterpillar from the US, Komatsu from Japan, Belaz from Belarus, Uralmash from Russia and Taiyuan Heavy from China — are in the race to secure a contract for supplying large mining equipment to Reliance Power’s Sasan ultra mega power project (UMPP).
The company is expected to finalise the mega order worth over Rs 2,000 crore for mining equipment like draglines, electric shovels, off-highway haul trucks within a fortnight, to kickstart coal mining operations in captive blocks, allotted for the 4,000-mw project, said a source privy to the development.
Continue reading Global companies eye Reliance Power mining equipment order
The Anil Ambani-led Reliance Power fully acquired Jharkhand Integrated Power, a special purpose vehicle (SPV) floated to implement 4,000-MW Tilaiya ultra mega power plant project, from Power Finance Corp.
The coal-based thermal power plant is being developed in Jharkhand at an estimated cost of Rs.20,000 crore.
This is the third ultra mega power plant secured by the company.
Continue reading Reliance Power acquires Jharkhand’s Tilaiya firm
RELIANCE POWER currently holds one of the largest portfolios of power generation projects under development in India – over 13 projects with an aggregate capacity of over 28000 MW currently under development stage with an estimated cost of the projects above Rs 95,000 crores approx.
The company currently has no power plants in operation or other revenue-generating operations and has no noteworthy operating history from which one can evaluate its business and future prospects and viability.
Continue reading Is Anil Ambani fulfilling his dreams through Reliance Power Limited?
Anil Ambani-led Reliance Power has refused to take charge of the 4,000-mw Tilaiya ultra mega power project (UMPP) in Jharkhand unless Power Finance Corporation (PFC) gets all the statutory clearances.
PFC, the nodal agency for awarding UMPPs, has extended the bid validity by two months, the time by which Reliance Power can take over the special purpose vehicle for Tilaiya UMPP, a senior power ministry official said. Tilaiya project is still awaiting first stage forest clearance.
Continue reading Reliance Power refuses to take charge of Tilaiya ultra mega power project
Reliance Natural Resources (RNRL), a part of the Reliance Anil Dhirubhai Ambani Group (R-ADAG), has decided to procure six ships by the next quarter to transport coal from international destinations to India for its proposed 4,000-mw ultra mega power project (UMPP) in Krishnapatnam.
The group has earmarked an investment of Rs 2,000 crore for its shipping venture, which will be spearheaded by a wholly-owned subsidiary of RNRL. RNRL vice chairman Anil Shingvi told ET, â€œWe are planning to buy some ships and will sign long-term charter contracts for some others. In total, we will procure six ships to import coal for the Krishnapatnam project from international markets.â€
Continue reading Reliance Natural Resources plans Rs 2k-cr shipping venture, to acquire 6 ships
Sasan Power Ltd a wholly owned subsidiary of Reliance Power Ltd has tied up debt and executed financing agreements for the prestigious Sasan Ultra Mega Power Project with a consortium of about a dozen banks and financial institutions.
Continue reading Reliance Power executed financing agreements for Sasan UMPP
Anil Dhirubhai Ambani Group’s Reliance Power on Tuesday said it has tied up Rs 14,500 crore for the Sasan Ultra Mega Power project in Madhya Pradesh and about $500 million (about 2,518 crore) would come from overseas.
The Sasan power project, which would generate 3,960 MW of power on completion, will have 75:25 debt equity ratio and nearly half-a-billion dollar debt would come from abroad, Reliance Power Chief Executive Officer J.P. Chalasani told reporters here.
Continue reading Reliance Power tied up Rs 14,500 cr for Sasan Ultra Mega Power project
Domestic banks extend around Rs 15,000 cr as loans; announcement this week.
Reliance Power has finally managed to achieve financial closure, the process of tying up funding, for one of Indiaâ€™s largest coal-based power projects, the 4,000 Mw ultra mega power plant at Sasan, Madhya Pradesh, with the India Infrastructure Finance Company Ltd (IIFCL) agreeing to lend around Rs 2,500 crore.
Continue reading Reliance Power achieves financial closure for Sasan UMPP
Tata Power will approach the Supreme Court against a Delhi High Court order dismissing its petition challenging the diversion of coal from the captive mines of the Sasan Ultra Mega Power Project (UMPP).
In a statement on Monday, the company said, “Tata Power strongly believes that it has raised an important issue concerning the government of India’s decision to permit the diversion of coal from the captive mines allotted exclusively to Sasan UMPP to other projects of Reliance Power Ltd after the conclusion of the bidding process.”
Continue reading Tata’s to move Supreme Court as HC dismisses petition against Reliance Sasan Power Plant
Anil Ambani has always been in the news and this time it is his first ever Ultra Mega Power Project in Sasan, Madhya Pradesh, which is in trouble as the government may re think allocation of additional coal mines to the project.
Well, coal is the primary fuel for power generation in India and power producers are always looking for more coal.
Continue reading Govt rethinks additional coal for Reliance Sasan Power project?