Reliance Power exits Tilaiya project

01 Dec 2015 CW Team

Reliance Power has exited from the 4,000 MW Tilaiya UMPP in Jharkhand. The company has reached an out-of-court settlement with distribution utilities of 10 states, a little over six months after serving a notice for termination of the power purchase agreement for the project. Under the settlement, Reliance Power will get Rs 114 crore in compensation and bank guarantees of Rs 800 crore will also be released. The termination will help Reliance Power to reduce its capital expenditure pipeline by Rs 36,000 crore 鈥� debt of Rs 27,000 crore and equity commitment of Rs 9,000 crore. The company had bagged the right to develop the Tilaiya UMPP in 2009 through competitive bidding, with a winning tariff of Rs 1.77 a unit.

Contact: Reliance Power.
Tel: 022-3032 7648.
Website: www.reliancepower.co.in

Infrastructure Urban

16 May 2025

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Infrastructure Urban

16 May 2025

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Infrastructure Urban

16 May 2025

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..