ReNew to acquire 99 MW L&T hydropower plant worth Rs 985 cr

13 Aug 2021 CW Team

Larsen & Toubro (L&T) has announced plans to sell its 99 MW renewable power plant in Rudraprayag, Uttrakhand, to ReNew Power, marking the entry of the Sumit Singh-led company into hydropower.

Both the companies announced the signing of the binding agreement for the acquisition of the power plant.

ReNew Power has signed agreements for 260 MW and 330 MWp solar projects in Telangana. The overall value of the acquisition is nearly Rs 2,850 crore. The company also plans to merge with an American blank cheque company or a Special Purpose Acquisition Company (SPAC), which will bring Rs 380 to Rs 400 crore of Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) on a yearly basis.

Singoli Bhatwari Hydroelectric Project (SBHEP) owned by L&T Uttaranchal Hydropower Ltd, would be given to ReNew from L&T Power Development Ltd. As a part of the acquisition, ReNew would add SBHEP's project operations team to its power team.

SBHEP has a significant capacity of two to three hours, which adds 200 MWh to 300 MWh hr of low-cost hydro storage to ReNew Power's portfolio, the company said.

Apart from the L&T project, ReNew Power has also won bids for peak power projects and round-the-clock (RTC) power projects, for which ReNew Power has signed a Power Purchase Agreement (PPA).

The transaction is subjected to completion of customary closing conditions, and the expected closing date is before 30 September 2021. The sale is considered to be Rs 985 crore. D K Sen, Director of L&T, told the media that the project is a significant step to unlock the valuable power development assets to streamline and allocate capital to create a long-term value for shareholders.

Image Source

Also read: NHPC, BSHPC enter pact for 130.1 MW Dagmara HE project

Also read: Govt proposes to hive off central hydro projects

Infrastructure Transport

11 May 2026

Shivraj Chouhan Launches PMGSY IV and Announces Package for Madhya Pradesh

Union Minister Shivraj Singh Chouhan launched the Pradhan Mantri Gram Sadak Yojana (PMGSY) IV at Bhairunda in Sehore district during the 25 year celebrations and announced a development package for Madhya Pradesh. The programme was organised by the Union Ministry of Rural Development and attended by Chief Minister Dr Mohan Yadav, ministers of state, state ministers, legislators and senior officials from the centre and the state. The minister said the central government under the Prime Minister is committed to strengthening rural livelihoods through improved connectivity, housing and women's in..

DMR Engineering Reports FY 25-26 Financial Results

DMR Engineering reported its half year results for the financial year ended 31 March 2026 and published full year figures on a standalone basis. Standalone revenue from operations decreased by 2.01 per cent year-over-year to Rs 102.58 million (mn), while profit after tax declined by 43.94 per cent to nine point five six mn, leaving a profit after tax margin of nine point zero five per cent. Earnings per share stood at Rs zero point nine two, a fall of 44.71 per cent year-over-year. The company attributed part of the decline to one-off provisioning for bad debts and additional financing charges..

Atlanta Electricals Posts Strong FY26 Growth And Debt Free Finish

Atlanta Electricals reported audited consolidated results for the quarter and year ended 31 March 2026. The company recorded significant year-on-year revenue growth driven by capacity ramp-up at new facilities and higher utilisation at legacy plants. The announcement summarised operating improvements and strategic milestones achieved during the year. For Q4 the company reported revenue of Rs 7.48 bn and for FY26 revenue of Rs 18.52 bn, representing robust growth versus the prior year. EBITDA in Q4 was Rs. 1.49 bn and Rs. 3.44 bn for the full year, with margins expanding to 20 per cent in the q..