Incentivisation aimed at boosting domestic production
The country’s largest integrated power utility, Tata Power on Thursday announced the takeover of the management and operations of Odisha-based power distribution utilities WESCO and SOUTHCO upon completion of the sale process.
Tata Power have shown interest in buying two hydroelectric power projects in Sikkim that are owned by Equis Energy. The Asian infrastructure investor company operates and owns 220 MW of hydro assets in Sikkim through a platform called Hydreq.
Through a special resolution that was passed by the requisite majority at the annual general meeting, Tata Power has sought shareholdersÂ’ approval to raise up to Rs 55 billion through issuance of non-convertible debentures on private placement basis.
The IIP number for the month of June 2017 came in sharply lower at -0.1% compared to 1.7% in the previous month of May 2017. A correction in the IIP was expected in the month of June due to the impact of the GST launch, although it was not expected to dip into negative territory.