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ACME Solar launches Rs 30 billion IPO
ACME Solar launched its initial public offering (IPO) today, November 6, 2024, valued at Rs 30 billion, with a price band of Rs 275 to Rs 289 per equity share. The IPO, open until Friday, November 8, 2024, requires a minimum bid of 51 shares, with additional bids in multiples of 51. The offering includes…
Four hydropower projects in J&K report progress amid India-Pak tension
Jammu & Kashmir State Power Development Corporation Limited (JKSPDC) has reported physical progress across four major hydroelectric projects (HEPs) in the region. The Pakal Dul HEP has reached 66 percent physical progress. Located on the Marusudar river, a right bank tributary of the Chenab, in Kishtwar district, the reservoir-based project is being developed by Chenab…
UP launches scheme to ease electricity dues
Uttar Pradesh has announced a new scheme that offers major relief on overdue electricity bills. The Bijli Bill Rahat Yojana from Uttar Pradesh Power Corporation Ltd starts on December 1 and provides a full waiver of surcharge and interest for eligible users, along with a cut in the principal amount. The scheme applies to domestic…
Trump suspends IRA funding, halting clean energy projects
US President Donald Trump has issued an executive order suspending all funding disbursements under the Inflation Reduction Act (IRA), marking a significant shift in the US energy agenda. The move, termed “Terminating the Green New Deal,” also halts funding for the Infrastructure Investment and Jobs Act, impacting clean energy and manufacturing projects. Federal agencies now…
PGCIL sells residual stake in four entities to PGInvIT
Power Grid Corporation of India Ltd (PGCIL) has sold its remaining 26% stake in four associate companies to Power Grid Infrastructure Investment Trust (PGInvIT) for Rs 5.07 billion. The transfer, completed on December 30, 2024, aligns with share purchase agreements involving PGCIL, IDBI Trusteeship Services Ltd, PUTL (Powergrid Unchahar Transmission Ltd), and the concerned entities….
TARIL removed from World Bank debarment list
Transformers and Rectifiers India Limited has informed stock exchanges that it is no longer on the World Bank list of debarred entities. The update follows an earlier notice in which the company was declared ineligible for World Bank funded projects linked to an old Nigeria supply contract. The World Bank has now given the company…
