Avaada in Talks with Global Lenders to Raise $1 Bn Project Debt
Avaada Group is in discussions with global lenders including Standard Chartered Bank, Sumitomo Mitsui Banking Corporation (SMBC), BNP Paribas, and Societe Generale to raise over $ one billion (Rs 85.00 billion) in project finance debt to support its renewable energy expansion.The company currently has 3,000 MWp of solar and wind projects under construction and aims to reach 30 GWp capacity by 2030. It plans investments of Rs 35,000 to 400.00 billion in solar, wind, pumped storage projects (PSP), and green hydrogen and ammonia production.Chairman Vineet Mittal noted the firm’s active engageme..
Tata Power Q4 Profit Rises 16.5% to Rs 10.43 Bn
Tata Power posted a net profit of Rs 10.43 billion in Q4FY25, up 16.5 per cent from Rs 8.95 billion in Q4FY24, beating analyst estimates of Rs 10.22 billion. Revenues rose 7.9 per cent to Rs 170.96 billion, in line with expectations.EBITDA increased 39.2 per cent to Rs 32.46 billion, driven by higher power sales, growth in solar rooftop projects, and a 73 per cent year-on-year rise in profit after tax in the distribution segment, mainly due to Odisha Discoms’ improved performance.For FY25, Tata Power achieved its highest ever annual revenue of Rs 645.02 billion. The company plans a capex of ..
Major Ports Handle Record 855 MT Cargo in FY25
India’s 12 major ports handled a record 855 million tonnes (MT) of cargo in FY25, a 4.3 per cent increase over 819 MT in FY24, the Ministry of Ports, Shipping and Waterways announced.Growth was driven by container movement, up 10 per cent; fertilisers, up 13 per cent; petroleum, oil and lubricants (POL), up three per cent; and miscellaneous cargo, rising 31 per cent. Paradip Port Authority and Deendayal Port Authority crossed the 150 MT cargo mark for the first time. Jawaharlal Nehru Port Authority handled 7.3 million TEUs, a 13.5 per cent rise, setting a new record.POL cargo led with 254.5 ..
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