Gautam Adani has got another big deal. Actually, two companies of the Adani Group – Adani Power and Adani Renewable Energy will supply about 6,500 MW of electricity to Maharashtra State Electricity Distribution Company Limited (MSEDCL). Adani Power Limited said in a notice to the stock market that it has signed an agreement with MSEDCL to supply about 1,500 MW of electricity.
It said Adani Power Limited has entered into an electricity supply agreement (PSA) with Maharashtra State Electricity Distribution Company Limited (MSEDCL) for a supply of 1,496 MW (net) for 25 years. At the same time, Adani Green Energy Limited (AGEL) said in another information given to the stock exchange that its wholly-owned subsidiary, Adani Renewable Energy Fifty Five Limited, has entered into a power purchase agreement with MSEDCL for the supply of about 5,000 MW of solar power.
The market cap of Adani companies increased by 39,000 crores
.The market capitalization of the companies of the Adani Group led by industrialist Gautam Adani has increased by more than Rs 39,000 crore this week to around Rs 15.5 lakh crore. According to stock market data, the market capitalization of nine out of the 10 listed companies of this group, which is involved in businesses ranging from ports to energy, has increased in three days of trading on the back of strong financial and operational results. The capitalization of the group’s flagship company Adani Enterprises Limited increased the most by Rs 23,268 crore, while the valuation of Adani Ports and SEZ increased by Rs 9,440 crore. Meanwhile, Adani Power Limited was the only company whose market capitalization fell. The valuation of other group companies – power transmission company Adani Energy Solutions Limited, clean energy company Adani Green Energy Limited, city gas distributor Adani Total Gas Limited, Adani Wilmar Limited, media firm NDTV, and cement companies – ACC and Ambuja Cement increased.
Tata Power will invest Rs 5,666 crore
The board of directors of Tata Power has approved an investment of Rs 5,666 crore for setting up a 1,000 MW pumped storage hydropower project. The company gave this information on Wednesday. Tata Power said in a stock exchange notice that it aims to set up the project in Bhivpuri in 44 months. Regarding the mode of financing, the company said that 75 percent will be met through debt and 25 percent through equity financing. The company’s total current capacity is 15.2 GW. The company said, “Pumped Storage Hydropower Project (PSP) will facilitate energy transfer and contribute to decarbonizing industries.”
Suspense Crime Sach Ka Dam
