Author: PPD Team Date: November 12, 2024
Adani Energy Solutions Limited (AESL) has acquired Progressive Grid Networks Limited (PGNL) in Kenya to explore power transmission opportunities across East Africa.
PGNL’s initial share capital stands at KES 1 billion, divided into 100,000 ordinary shares valued at KES 1,000 each. Through this acquisition, AESL secures full ownership by acquiring 100 per cent of the shares through cash consideration.
Author: PPD Team Date: January 20, 2025 The Central Electricity Regulatory Commission (CERC) has granted an interstate trading licence to REC Power Development & Consultancy Ltd (RECPDCL), a wholly-owned subsidiary of REC Ltd. The “Category I” licence allows RECPDCL to engage in interstate electricity trading across India for 25 years. This follows the public notice issued in December 2024, which received no objections, allowing CERC to finalize the licence. RECPDCL is also seeking to become…
Author: PPD Team Date: December 19, 2024 Commonwealth Fusion Systems (CFS) has unveiled plans to build the world’s first grid-scale commercial fusion power plant, ARC, at the James River Industrial Park in Chesterfield County, Virginia. The site, owned by Dominion Energy Virginia, was chosen after a global search for the location of the first commercial fusion plant. CFS has entered into a non-financial collaboration with Dominion Energy Virginia, which includes development support, technical expertise, and…
Author: PPD Team Date: July 31, 2025 Power Finance Corporation Ltd (PFC) has transferred its subsidiary, Angul Sundargarh Transmission Ltd, to HG Infra Engineering Ltd. Angul Sundargarh Transmission Ltd is a special purpose vehicle (SPV) for the Eastern Region Generation Scheme-I (ERGS-I), a central transmission project. The handover was completed on July 28, 2025, under a signed Share Purchase Agreement. The selection was based on tariff-based competitive bidding. HG Infra emerged as the lowest bidder…
Author: PPD Team Date: September 23, 2025 The Asian Development Bank (ADB) has approved a loan of $52.72 million to support Cambodia’s Grid Expansion Project. The program aims to strengthen the national transmission network, integrate more renewable energy, and meet growing electricity demand with locally generated clean power. Cambodia’s domestic electricity generation increased from 8.68 terawatt hours (TWh) in 2020 to 17.85 TWh in 2024. Over the same period, power imports declined from 3.06 TWh…
Author: PPD Team Date: January 6, 2025 Sasan Power Limited, a subsidiary of Reliance Power, has repaid USD 150 million to India Infrastructure Finance (UK) Company Limited (IIFCL), improving its debt coverage metrics, liquidity, and credit rating. Sasan Power operates the 3,960 MW ultra-mega power plant in Madhya Pradesh, the world’s largest integrated coal-based power plant. It includes a 20 million tonne per annum captive coal mining capacity and supplies electricity to 14 distribution companies…
Author: PPD Team Date: November 26, 2024 Danish energy company Ørsted has started the process of divesting a 50% stake in its 2.9 GW Hornsea 3 offshore wind farm, located 120 km from the UK coast, according to Bloomberg. The sale, part of Ørsted’s broader divestment strategy led by CEO Mads Nipper, is expected to attract buyers willing to contribute to the project’s construction costs. The Hornsea 3 project, valued at approximately £8.5 billion ($10.8…