Online
| Post a Message | Explore Forums | Browse Stock Messages | Hot Discussions | Top rated Messages | Top Boarders | |
|
|
|
Tata Power Company
Tatas seal power deal Down Under
Posted by :
latikavTracked by: 0 Boarder
Buys 10 per cent stake in geothermal energy firm for Rs 165 crore.
Tata Power Company Ltd (TPC), the largest domestic private sector power producer, has forayed into the geothermal energy sector by acquiring 10 per cent stake in Australia’s Geodynamics for $37 million (about Rs 165 crore).
TPC would get a board representation in Geodynamics Ltd, a listed company in Australia with a market capitalisation of A$350 million. Both companies would also jointly explore geothermal blocks outside Australia.
TPC will acquire 29.4 million ordinary shares of Geodynamics at an issue price of A$ 1.5 per share, which is around the current market price. Company officials declined to disclose when they hope to complete the deal and how they plan to fund the investment.
“This strategic partnership not only strengthens our renewable portfolio but also creates opportunities to get a foothold in the growing renewable energy market in Australia. We look forward to the synergistic opportunities that the alliance presents us,” said Prasad Menon, managing director, Tata Power. Share prices of Tata Power declined by 1.70 per cent on the Bombay Stock Exchange (BSE) on Thursday to close at Rs 1,088.
Geothermal energy is the natural heat from the earth, where temperature increases with depth, typically by 10-50 degree celsius per kilometre. In enhanced geothermal technology, heat is extracted from granites located at a depth of more than 4,000 metres by circulating water through them, in an engineered artificial reservoir.
The heated water returns to the surface under pressure and is converted into electricity through a heat exchanger in geothermal power plant.
Geodynamics Ltd is one of 32 geothermal energy companies in Australia trying to tap the potential of the renewable form of energy and it plans to start its first geothermal power plant by 2012 with a 50 MW demonstration plant, and thereafter raise the capacity to 500 MW by 2016.
It has geothermal exploration interests in three states in Australia including the licence for exploring 2000 sqkm of area in the Cooper Basin, which contain the hottest granites on earth and are estimated to provide a thermal resource equivalent of 50 billion barrels of oil, said a company press release.
TPC currently produces over 500 mw of green energy, which includes 447 MW of hydroelectric power and 79 MW of wind power.
Besides, the company is adding over 120 MW of wind energy in Maharashtra, Gujarat and Karnataka. Over the next five years, TPC plans to grow its generation capacity from 2,474 MW to 12,861 MW, through thermal power projects.
“The funds raised from the equity placement are designed to strengthen Geodynamics’ balance sheet and place it in a strong financial position to be able to make an investment decision with its joint venture partner, Origin Energy Ltd, on the construction of a 50 MW power station in 2009,” said Gerry Grove-White, managing director, Geodynamics.
In addition, the companies will target the potential of geothermal prospects outside Australia by leveraging their respective strengths.
Experts say that India has geothermal fields in the Himalayas, Cambay basin and the west coast, Bakreswar-Tantloi thermal province in Bengal and Bihar and in the Andaman-Nicobar region, with potential to produce over 10,000 MW of geothermal energy.
LNJ Bhilwara Group company Bhilwara Energy (BEL) had recently announced to set up geothermal projects in India with plans to generate around 100 MW of power at an investment of Rs 1,000 crore.
BEL had also applied for licences for exploring geothermal sites in Ladakh and Chhattisgarh
(BS)...
Tata Power
Posted by : zoombusinessTracked by: 0 Boarder
Tata Power acquiring 11.4% stake in Australian geothermal energy co. ...
Tata Power to acquire stake in Australian
Posted by : latikavTracked by: 0 Boarder
Tata Power to acquire stake in Australian geothermal firm
---------------NEW DELHI: India's largest integrated power company, Tata Power Co, will acquire 29.4 million ordinary shares representing 11.4 percent equity in Geodynamics Ltd, an Australian geothermal energy company, it said on Thursday.
In a regulatory statement, Tata Power said it would pick up the stake either on its own, or through one or more of its subsidiaries in India and abroad.
Tata Power will buy the shares at A$1.5, entailing a total investment of A$44.1 million or about Rs.165 crore (about Rs.37.5 million)
"The strategic partnership with Geodynamics will strengthen our renewable energy portfolio and help us enter the market in Australia," said Tata Power managing director Prasad Menon.
Geothermal energy is the natural heat found within the earth where temperature increases with depth, typically rising from 10 degree celsius to 50 degree celsius per kilometre. This heat is extracted from granites located at depths of over 4,000 metres by circulating water through them in an engineered artificial reservoir.
The heated water returns to the surface under pressure and is converted into electricity with the help of heat exchanger and a conventional geothermal power plant.
ET...
Tata power
Posted by : gvTracked by: 0 Boarder
Hi,
Tata Power to buy 10pct in Australian firm
BANGALORE (Reuters) - Tata Power Co said on Thursday it would buy a 10 percent stake in Australian geothermal energy firm Geodynamics Ltd for A$44.1 million (US$37 million) to boost its presence in Australia. ...
Tata Power to acquire 26% stake in Dagachhu Hydro Project
Posted by : GuestTracked by: 0 Boarder
I have purchased stocks at 1065. What is a good time to sell?...
In reply to:
Tata Power to acquire 26% stake in Dagachhu Hydro Project
Posted by : MMB Messenger
Tata Power Company has declared its results for the quarter ended June 2008 (Q1). The company's revenues at Rs 2026.1 crore versus Rs 1511.4 crore. 
Tata Power to acquire 26% stake in Dagachhu Hydro Project
Posted by : MMB MessengerTracked by: 0 Boarder
Tata Power Company has declared its results for the quarter ended June 2008 (Q1). The company's revenues at Rs 2026.1 crore versus Rs 1511.4 crore....
NSE Announcements on Tata Power
Posted by : MMB MessengerTracked by: 0 Boarder
Tata Power Co. Ltd. has informed the Exchange regarding a press release dated September 04, 2008, titled "Tata Power decides to acquire 10% stake in Geodynamics Limited, Australia; Strengthens its renewable energy portfolio". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). ...
BSE Announcements on Tata Power
Posted by : MMB MessengerTracked by: 0 Boarder
Tata Power Company Ltd has informed BSE regarding a Press Release titled "Tata Power decides to acquire 10% stake in Geodynamics Ltd, Australia"...
Tata Power shr up nearly 2%
Posted by : 9975797577Tracked by: 0 Boarder
Tata Power shr up nearly 2% on Australia's Geodynamics stake buy...
NSE Announcements on Tata Power
Posted by : MMB MessengerTracked by: 0 Boarder
Tata Power Co. Ltd. has informed the Exchange that Mr. Rahul Asthana, State Government Director on the Board of the Company, has tendered his resignation as Director of the Company with effect from August 21, 2008....
BSE Announcements on Tata Power
Posted by : MMB MessengerTracked by: 0 Boarder
Tata Power Company Ltd has informed BSE that Mr. Rahul Asthana, State Government Director on the Board of the Company, has tendered his resignation as Director of the Company with effect from August 21, 2008....
SBI to power Tatas' bid for Singapore co
Posted by : latikavTracked by: 0 Boarder
MUMBAI: India’s largest bank, State Bank of India (SBI), will offer Tata Power $1 billion to help it acquire Senoko Power, Singapore’s largest-power utility.
SBI had earlier funded the House of Tatas in its acquisition of UK steel company, Corus, and also in the deal to buy out Ford Motor’s luxury brands, Jaguar and Land Rover.
Temasek Holdings had put Senoko Power on the block in early August, in a deal which is expected to raise close to $3 billion. Temasek is expected to shortlist bidders in the first week of September after which those shortlisted will be allowed to carry out a due-diligence exercise. The entire sale is expected to be concluded by the end of 2009.
A Tata Power spokesperson refused to comment on the issue citing the non-disclosure agreement signed with Temasek. A company insider said Tata Power, which has a market value of $5.2 billion, bid for the Singapore firm in keeping with the group’s ambitious plan to ensure that group firms emerge in the list of the top three players in their respective industries.
Bankers said SBI has agreed to underwrite a sum of $1 billion for the Senoko bid. Other bidders for Senoko include Japan’s Marubeni & Mitsubishi, Malaysia’s YTL Power, France’s GDF Suez and the OneEnergy — CLP Holdings combine are the other bidders.
In the past, SBI had extended a $1.2 billion loan for the Corus acquisition and about $500 million for financing the buy out of Jaguar and Land Rover. For the Senoko bid, SBI Capital Market has been appointed as the lead arranger for funds. SBI has agreed to provide a loan for 18-24 months. The loan is pegged 350 basis points over Libor.
Following the subprime crisis, large foreign banks have stayed away from financing big-ticket projects. Thanks to this, SBI has emerged as one of the largest financiers for overseas buyouts. In the fiscal year 2007-08, SBI’s advances from its international branches rose by 50% to Rs 58,135 crore.
At a recent analyst meet, SBI officials had said that the bank is now the country’s largest financier of overseas acquisitions. According to a Tata group presentation to investors, Tata Power, the largest-power producer with a capacity of 2,300 MW is planning an additional capacity of 7,500 MW by 2012.
The Singapore takeover attempt, if successful, will give the company access to additional power of 3,300 MW. Senoko meets 30% of Singapore’s electricity needs.
BS...........
Tata Power bids for 3300MW Power utility; stk down
Posted by : MMB MessengerTracked by: 0 Boarder
At 11:16 am, Tata Power Company was quoting at Rs 1,069.75, down Rs 31.6, or 2.87%. It has touched an intraday high of Rs 1,149 and an intraday low of Rs 1,060. According to agencies, the company has bid for 3300MW Singapore Power utility put on block by Temasek, reports CNBC-TV18. It was trading with volumes of 291,467 shares....
Tata Power bids for 3300MW Power utility; stk down
Posted by :
PathakjiTracked by: 0 Boarder
According to my calculation and referred to old charts of perfomance of share it shold gain 12 % in sept. and in the month of october furthure4.5% will increaiment in prevailing rate....
In reply to:
Tata Power bids for 3300MW Power utility; stk down
Posted by : MMB Messenger
At 11:16 am, Tata Power Company was quoting at Rs 1,069.75, down Rs 31.6, or 2.87%. It has touched an intraday high of Rs 1,149 and an intraday low of Rs 1,060. According to agencies, the company has bid for 3300MW Singapore Power utility put on block by Temasek, reports CNBC-TV18. It was trading with volumes of 291,467 shares.
view of tatapower
Posted by :
deshTracked by: 0 Boarder
tata power is very long to go but first it will cross 1200 rs then it will touch 1350 it has very good streangth to run in no delivery period it will cross 1200 very easly keep buying ...
In reply to:
view of tatapower
Posted by : Guest
please tell me the view of tatapower?
3 queries on Tata Power
see moreMore from the Power - Generati
on/Distribution Sector
Boarders tracking Tata Power
see more News Updates on Tata Power
Explore Moneycontrol
