Avantha Group firm CG bags $20 million transmission infrastructure contract from Indonesia

 

Avantha Group company CG has bagged a $20 million (approximately Rs 124 Crs) contract from Indonesian firm PT PLN for setting up power transmission infrastructure around Indonesia.

Under the contract, CG has to set up a total of 36 transformer bays around Indonesia.

This project is being funded by IBRD - World Bank and is aimed at enhancing the performance of PT PLN's transmission grid.

The scope of the order includes design, manufacture, supply, construction and installation of transmission equipment in Java, Sumatra, Kalimantan and Sulawesi islands of Indonesia.

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Lanco seeks restructuring of Rs 1000 crore loan of Andhra Pradesh power plants

 

Lanco Group has approached lenders for restructuring of Rs 1000 Crs debt of two of it gas based power projects in Andhra Pradesh and to reschedule the repayment till January 2018. It has also sought similar reprieve from lenders for some of its power plants under Reserve Bank of India's 5/25 formula. 

Lanco Kondapalli Power Limited (LKPL), Lanco Group company, operates three gas based power projects in Andhra Pradesh. Of this, two plants, Unit-II and III, are not able to operate due to lack of gas supplies from KG-Basin. Unit-III is yet to declare Commercial Operation Date.

Between these two units the debt is around Rs 2400 Crs for a capacity of 1100 MW. 

The Group is also in the process of approaching lenders to rescheduling of loans of some of its power plants under the Reserve Bank's 5/25 Rule.

This rule enables a bank to extend loans to an infra developer for 25 years with an option to rewrite or reset the terms of the loan or transfer it to another bank or financial institution after five years.

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Tata Power partners with Russian Coal manger for global energy sector opportunities

 

 

Tata Power has signed an initial agreement with Siberian Coal Energy Company (SUEK - Russia’s largest coal producer) for tapping opportunities in the energy sector.

 

Both Tata Power and SUEK will cooperate on identifying and targeting opportunities in the energy sector in Russia and other geographies of common interest in order to develop mutually beneficial transactions.

Tata Power generates about 8,621 MW of power of which 7,407 MW is from thermal power generation.

SUEK delivers coal to more than 30 countries all over the world.

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