Reliance Power Plans Rs 90 Billion Fundraising Drive
Reliance Power, led by Anil Ambani, has announced a major Rs 90 billion capital-raising initiative as part of a broader financial restructuring plan, following a strong rebound in its earnings. The board has approved raising Rs 60 billion through equity shares and another Rs 30 billion via non-convertible debentures (NCDs).The equity capital will be mobilised through either a Qualified Institutions Placement (QIP), a follow-on public offering (FPO), or a mix of both, pending shareholder approval. The NCDs, whether secured or unsecured, will be issued in one or more tranches through private pla..
Bihar Clears Draft Policy To Boost Pumped Storage Projects
Bihar Deputy Chief Minister Samrat Choudhary announced that the draft of the Bihar Pumped Storage Project Promotion Policy 2025 has been approved to promote Pumped Storage Projects (PSPs) in the clean energy sector and ensure grid stability through effective energy storage solutions.Choudhary noted that with the rising share of renewables—including solar, wind, and biomass—maintaining grid stability has become a growing challenge. Pumped storage, he said, has emerged as a dependable solution to ensure energy availability during peak demand.He further highlighted that the National Electrici..
DP World, DPA, Nevomo To Pilot MagRail Cargo System
DP World, Deendayal Port Authority (DPA), and Nevomo have signed a Memorandum of Understanding (MoU) to explore autonomous magnetic rail freight movement within Indian port ecosystems using Nevomo’s proprietary MagRail technology.The agreement aims to develop a 750-metre pilot project at Deendayal Port, deploying self-propelled rail-based cargo movement to improve operational efficiency and modernise port logistics.The MoU was signed by Sushil Kumar Singh, Chairman of Deendayal Port Authority; Rizwan Soomar, CEO & MD for Middle East, North Africa, and India Subcontinent at DP World; and ..
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