US DFC unveils $600mn investment boost for Indian industries
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IREDA Reports 41% Loan Growth in Q3
State-owned Indian Renewable Energy Development Agency (IREDA) reported a 41% increase in loan disbursements, amounting to Rs 172.36 billion in the December quarter of FY24. Provisional figures reveal loan sanctions skyrocketed by 129% YoY to Rs 310.87 billion, compared to Rs 135.58 billion in Q3 FY23. The outstanding loan book surged 36% to Rs 690 billion as of December 31, 2024, against Rs 505.8 billion a year ago, according to the company’s statement. Pradip Kumar Das, Chairman and Managing Director of IREDA, highlighted the agency’s commitment to advancing India's renewable energy tran..
Power Mech Bags ?294 Cr Adani Power Project
Power Mech Projects announced that it has secured a significant order worth ?294 crore from Adani Power. The contract involves a range of services for the 1,320 MW Korba Phase-II Thermal Power Project located in Chhattisgarh. The scope of work includes overhauling, erection, testing, commissioning, and manpower assistance for the performance guarantee test of the steam generator (SG) for Units 3 and 4 of the project. The announcement positively impacted the company's shares, which were trading 4.19% higher at Rs 2,675.45 on the Bombay Stock Exchange (BSE). This development underscores Power Me..
Reliance Power Pays USD 150 Million Debt
Reliance Power has announced that its subsidiary, Sasan Power Ltd, successfully made a bullet payment of USD 150 million to the India Infrastructure Finance Company Limited (IIFCL) on December 31, 2024. This debt repayment is a significant step for Sasan Power, as it will enhance its debt coverage metrics, improve liquidity, and likely lead to an upgrade in its credit rating, according to a company statement. Sasan Power operates the world’s largest integrated coal-based power plant, the 3,960 MW Ultra Mega Power Plant (UMPP) located in Sasan, Madhya Pradesh. The plant is supported by a capt..