Beauty is what you buy

Jindal Power has emerged as the successful bidder for Bhadreshwar Vidyut, securing it with a bid of around Rs. 500 crore. Bhadreshwar Vidyut, which operates thermal power plants in Gujarat, is under insolvency and owes Rs. 1200 crore to lenders. The resolution plan is now pending approval from the national company law tribunal.

The Ministry of Petroleum and Natural Gas has demanded $2.81 billion from Reliance Industries Limited and its partners over a dispute regarding gas migration from ONGC’s blocks to the KG-D6 block. This follows a court ruling that reversed a previous decision in favor of Reliance.

Oil companies should utilize railways or competitors’ pipelines for transporting petroleum products over long distances to avoid accidents, as per new safety guidelines by the Petroleum and Natural Gas Regulatory Board. These guidelines follow a fatal LPG tanker accident in Jaipur and aim to enhance road transportation safety, including a night driving ban on petroleum tankers.

India’s power consumption in February increased to 131.54 billion units, up from 127.34 billion units last year. Peak power demand also rose to 238.14 GW. The Indian Meteorological Department predicts a hotter-than-usual March, with more heatwave days, leading to higher power usage due to fans, coolers, and air conditioners.

Hindustan Power, led by Ratul Puri, commits Rs 620 crore to power and battery energy storage projects in Assam. The MoU signed at Advantage Assam 2.0 will see the development of a 100 MW solar power plant and a 100 MW battery storage system, creating over 5,000 man days of employment.

Larsen & Toubro’s power transmission and distribution vertical has won new domestic and international contracts. In India, it will handle the transmission for a Renewable Energy Zone in Uttar Pradesh and a non-fossil fuel-based power plant in the south. International orders include a Gas Insulated Substation in Saudi Arabia and a new grid station in Abu Dhabi.

Creditors of KSK Mahanadi Power are seeking NCLT’s approval to distribute ₹4,300 crore of surplus cash before the fiscal year-end. JSW Energy’s winning bid requires payment completion by May, so an interim cash distribution is being requested to settle lenders’ dues promptly.

Coal India Ltd has waived the requirement for non-power sector consumers to pay financial coverage for ten days’ worth of coal supplied via rail transport. This initiative reduces transactional complexities and financial burden, improving cash liquidity and further streamlining coal supply operations in line with the ease of doing business efforts.

The government’s Public Enterprise Selection Board (PESB) has struggled to find suitable candidates for top positions at major oil companies like Bharat Petroleum (BPCL) due to most applicants lacking multidisciplinary experience. PESB recommended the formation of a search-cum-selection committee to address the issue, highlighting BPCL and other oil firms’ failure in creating leaders with diverse exposure.

NTPC has achieved its fastest-ever generation of 400 Billion Units in FY2024-25, a milestone reached in just 335 days. With over 77 GW of installed capacity and 29.5 GW under construction, including renewable energy, NTPC is committed to further expanding its green energy initiatives by 2032.