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NLC India board clears NIRL listing, Rs 66.6 crore investment
NLC India Limited, following a meeting of its Board of Directors held on January 12, 2026, has granted in-principle approval for the listing of its wholly owned subsidiary, NLC India Renewables Limited (NIRL). The proposed listing is in line with the Government of India’s National Monetisation Pipeline strategy and involves dilution of up to 25%…
NBIM to acquire stake in Nordseecluster and Thor offshore wind projects
Norges Bank Investment Management (NBIM) will acquire a 49% stake in two offshore wind projects, Nordseecluster in Germany and Thor in Denmark, for €1.4 billion ($1.5 billion) from RWE. The deal, subject to regulatory approvals, is expected to close by the third quarter of 2025. RWE will retain a 51% stake and continue as the…
REC to finance pumped storage projects in Kerala
REC Limited has signed a memorandum of understanding (MoU) with the Energy Management Centre (EMC), Government of Kerala, to finance pumped storage projects (PSPs) in the state over the next five years. The investment, estimated at Rs 183.6 billion, aims to enhance grid stability and facilitate the integration of renewable energy. The PSPs will play…
Pace Digitek signs NEC XON deal to expand BESS in Africa
Pace Digitek Limited has entered into an Original Equipment Manufacturer (OEM) exclusivity agreement with NEC XON Systems Proprietary Limited to market and distribute its energy solutions across select African markets. The agreement, executed on April 22, 2026, grants NEC XON exclusive rights to market, distribute, and sell Pace Digitek’s products, including Battery Energy Storage Systems…
GoM suggests new debt restructuring scheme for State Discoms
A Group of Ministers (GoM) chaired by Power Minister Manohar Lal has proposed a new scheme to restructure the rising debt of State-owned power distribution companies (discoms). The panel said the liabilities should be formally recognised as obligations of the respective State governments. The Reserve Bank of India’s State Finance – A Study of Budgets…
REC subsidiary transfers Umred transmission SPV to MAHATRANSCO
REC Limited has informed the stock exchanges that its wholly owned subsidiary, REC Power Development and Consultancy Limited (RECPDCL), has completed the sale and transfer of Umred Power Transmission Limited. The project-specific special purpose vehicle (SPV) has been transferred to the successful bidder after receipt of consideration. Umred Power Transmission Limited was incorporated on July…
