GDF Suez, France acquires 74% stake in Meenakshi thermal power project in Nellore

French company GDF Suez SA acquired 74% stake in the 1,000 MW coal-fired power project owned by Meenakshi Energy and Infrastructure Holdings Pvt. Ltd in Andhra Pradesh. The deal size is expected to be around Rs.650 crore. Meenakshi will retain 26% stake in the Rs.6,000 crore power project, fueled by imported coal. 300MW is already operational while the remaining 700MW capacity is expected to be commissioned by 2015. Continue reading GDF Suez, France acquires 74% stake in Meenakshi thermal power project in Nellore

Simhapuri Energy to synchronize its 300 MW Phase I near Nellore

Madhucon Infra Limited, a subsidiary of Madhucon Projects Limited is setting up a 1,920 MW coal based power project near Nellore ( Thamminapatnam village, SPSR Nellore District near Krishnapatnam Port) through a special purpose vehicle Simhapuri Energy Pvt Ltd. Phase-I construction of of 300 MW is complete in all respects. Boiler light up process has commenced and the company is now heading towards synchronization of Phase – I. Another 300 MW Phase – II is planned to be commissioned by August, 2012. Simhapuri Energy has also applied for clearances for its 1320 MW Phase – III and hope to start the commissioning activities by 3rd or … Continue reading Simhapuri Energy to synchronize its 300 MW Phase I near Nellore

NCC achieves financial closure for Nellore thermal plant

The Hyderabad based engineering and construction company NCC Ltd. has achieved financial closure for the 1,320 MW, Rs.7,000-crore greenfield thermal power plant coming up in Nellore district of Andhra Pradesh. The debt component of Rs 5,300 crore is led by a consortium of Rural Electrification Corporation with Rs.1,900 crore, Power Finance Corporation pitching in with Rs.1,700 crore along with ICICI Bank and others. The company may consider taking up second phase of 1,320 MW at the same location. The company said the project would be executed through a special purpose vehicle in a joint venture with Gayatri Projects, another Hyderabad … Continue reading NCC achieves financial closure for Nellore thermal plant