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JSW Energy eyeing stressed assets; may raise upto Rs 5,000 crore

Private sector power producer JSW Energy, which is looking to raise up to Rs 5,000 crore, is eyeing stressed projects for acquisition.JSW Energy has sought an approval of its shareholders for mopping up Rs 5,000 crore through an issue of secured/unsecured redeemable non-convertible debentures on a private placement basis, as well as the utilisation of the funds.

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Power And Energy

India's Iran oil imports for Jan-June climb by a third to 7.3%

India’s crude imports from Iran rose by a third in the first half of the year. India, Iran’s top oil client after China, raised the imports to some of the highest levels in nearly two years in the first quarter, partly to make up for deep cuts in 2013 due to the lack of insurance coverage for refineries processing Iranian oil.  24 more words

Power And Energy

Government asks power producers to increase import of coal

In order to ensure adequate availability of coal, Coal India Ltd. has been impressed upon to enhance production of domestic coal in the country and power utilities.  38 more words

Power And Energy

Standard Chartered to invest Rs 500 crore in Sterlite Power Grid

Sterlite Technologies has entered into an agreement to raise Rs 500 crore through equity infusion from Standard Chartered Private Equity for funding its existing as well as new projects.Focused on the development and operations of power transmission projects, Sterlite Technologies will issue convertible securities to Standard Chartered Private Equity for a minority share.

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Power And Energy

Power Grid to invest Rs 5,800 crore on upgradation work in Gujarat

PGCIL will invest Rs 5,800 crore for upgrading its network in Gujarat over the next three to four years.The target is to increase the transmission capacity to 19,000 mega volt ampere (MVA) from the existing 4,000 MVA and the expansion of the transmission lines to 7,575 kms in Gujarat from the existing 5,610 kms.

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Power And Energy

ONGC to invest Rs 5,700 cr in Mumbai High North

State-owned Oil and Natural Gas Corp (ONGC)  will invest over Rs 5,700 crore in redevelopment of its giant Mumbai High (North) oil and gas field off the west coast.The project will yield an incremental 6.997 million tonnes of crude oil and 5.253 billion cubic metres of gas by 2030. 27 more words

Power And Energy

Solar power player CaptureSolar gets $125 million funding from Cyprus

Solar power producer CaptureSolar Energy (CSEL) has raised USD 125 million from the Cyprus-based photovoltaic solar solutions provider Concept Solutions & Innovation to set up a 90MW solar park in Pune. 19 more words

Power And Energy