BOM:532955

5 stories mentioning BOM:532955Updated 13d ago

Every FINWIRES story that references BOM:532955, newest first.

Avaada Secures $1.3 Billion Financing for 2.15 GW Renewable Energy Portfolio

Avaada Group has achieved financial closure of about $1.3 billion for a 2.15 GW renewable energy portfolio comprising hybrid renewable and utility-scale solar projects.The financing has been sanctioned by State Bank of India (NSE:SBIN, BOM:500112), REC (NSE:RECLTD, BOM:532955) and Canara Bank (NSE:CANBK, BOM:532483) across four special purpose vehicles.The portfolio includes 1.35 GW of hybrid renewable energy projects and 800 MW of solar projects being developed for Maharashtra State Electricity Distribution and Gujarat Urja Vikas Nigam.The projects across Gujarat and Maharashtra involve developing more than 3 GW of solar capacity and 450 MW of wind capacity, the company said.

BOM:500112BOM:532483BOM:532955NSE:CANBKNSE:RECLTDNSE:SBIN

Asia22d ago

REC Unit Incorporates Entity for Maharashtra Transmission Project

REC (NSE:RECLTD, BOM:532955) said its wholly owned subsidiary, REC Power Development and Consultancy, has incorporated Dharashiv Power Transmission.The entity has been formed to implement the 400 kV GIS Solapur/Paranda Switching Station project in Dharashiv district of Maharashtra, India, according to a Tuesday Indian bourse filing.Shares of the company fell nearly 1% in early trade on Wednesday.

BOM:532955NSE:RECLTD

Asia28d ago

ACME Solar Secures INR26.5 Billion Financing from REC for Renewable Energy Project

ACME Solar (NSE:ACMESOLAR, BOM:544283) secured 26.5 billion rupees in long-term project financing from REC (NSE:RECLTD, BOM:532955) for its 450 megawatt/1,800-megawatt-hour firm and dispatchable renewable energy project, according to a Thursday exchange filing.The funding will be used to develop and construct the project, with REC serving as the sole lender over a 20-year term.The project will supply power to SJVN (NSE:SJVN, BOM:533206) under a 25-year power purchase agreement at a tariff of 6.74 rupees per unit.

BOM:532955BOM:533206BOM:544283NSE:ACMESOLARNSE:RECLTDNSE:SJVN

Asia63d ago

REC's Merger With Power Finance Corp. Gets Presidential Approval

The proposed merger of REC (NSE:RECLTD, BOM:532955) with Power Finance Corp. or PFC (NSE:PFC, BOM:532810) has received approval from the President of India, according to a Wednesday filing to the Indian stock exchanges.The development follows PFC's acquisition of the Indian government's 52.63% stake in REC for 145 billion rupees in March 2019.Upon the merger being duly approved and being made effective, all the assets and liabilities of the REC will be transferred to PFC, and REC will be dissolved, according to an earlier news release.

BOM:532810BOM:532955NSE:PFCNSE:RECLTD

Asia107d ago

REC Logs Lower Fiscal Q4 Consolidated Profit

REC (NSE:RECLTD, BOM:532955) saw a decline in its consolidated net profit to 33.8 billion Indian rupees in the fiscal fourth quarter from 43.1 billion rupees a year ago, according to an Indian bourse filing on Tuesday by the power finance company.Earnings per share during the quarter ended March 31 contracted to 12.69 rupees from 16.24 rupees in the year-ago period.Total revenue from operations in fiscal Q4 also decreased to 145.6 billion rupees from 153.3 billion rupees a year earlier.Additionally, the company declared a third interim dividend of 1.55 rupees per share for the financial year ended March 31.

BOM:532955NSE:RECLTD

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