Reliance Power has reached an agreement to acquire 1,800 mega watt hydropower assets of Jaypee Group. Reliance CleanGen, a unit of Reliance Power, will acquire 100 percent stake in the hydroelectric power business of Jaypee Group.
The financial terms of the deal have not been disclosed yet. After the deal, Reliance Power will become the largest private sector company in India in hydroelectric sector with combined capacity of 7,800 mega watts.
SBI Capital Markets has acted as the advisors to the group for the deal which marks the biggest deal in the power sector in India.
Jaypee Group had earlier offloaded its hydroelectric power projects in Himachal Pradesh to Abu Dhabi based energy major for Rs 10,500 crore. The deal could not be finalized.
Reliance Power was trading around Rs 93 in today’s market. The stock has touched 52-week high of Rs 112 and low of Rs 60.
Recent reports have revealed that there has been a recent development that might be called a breakthrough in the field of nanotechnology. It was revealed by a research team from the University of Groningen in Netherlands that it is actually a device made for nanotechnology purposes, and that it has only a few basic similarities with a car.
It has four wheels and an internal framework that could make it look somewhat like a car, well, to someone who can see it because it’s the size of a molecule and not visible to the naked eye. Electrical pulses will be used to keep the car moving and functional, and they are powered by millivolts. For each half turn taken by the car, it shall require recharging of energy.
Scientists have revealed that though people shouldn’t expect to see these cars speeding past them on streets soon enough, they can expect this to be a part of some major findings done in the field of nanotechnology.
This might seem to be a partly fictitious venture but it might soon be of great help to scientists in other fields of technology.
“To build the nanotechnology of the future like nano robots, machines and transporters you need something to fuel it.’ ‘There is a great incentive to build motors at the nano scale”, revealed Ben Feringa, of the University of Groningen.
It might soon be used an excellent tool for expertise in a number of other fields such as for busting crimes and making detections secretly. It was further added that the future of this discovery is yet hard to be predicted, but it is still going to help in the fundamentals that determine about any discovery in the time to come.
The much awaited deal between the BP and CNOOC Ltd and Bridas has got cancelled due to the failure in transaction.
BP wanted to sell its stake in Pan American Energy, as they needed urgent funds to pay for the cleanup of its Gulf of Mexico oil spill. But that was way back in 2010 and now the BP’s Chief Executive, Bob Dudley, said that they would not repent if this deal gets cancel as torment phase has got over.
CNOOC Ltd, China’s biggest offshore oil producer and Bridas, 40% stake holder of PAE have blamed BP for collapse of the deal. They affirmed that there were some legal hassles in the deal and moreover, BP did not handle transaction in an appropriate manner which resulted cancellation of the deal.
It seems malign act has started as Dudley was of the view that to get Argentine anti-trust and Chinese regulatory approvals was the sole responsibility of Bridas and they were unable to get those permission, so their deal did not turn out to be successful.
Bridas is in no mood to take burden of failure on its head and affirmed that approval is not the reason as the Chinese and Argentine governments were in complete support for the deal.
BP is in not ready to strike peaceful chord with Bridas and affirmed that they would make some strategies in regard to PAE, but on the other hand, Bridas is still ready to negotiate with BP.
Experts were of the view that cancellation of the deal would surely affect profits of BP, which would publicize its annual turnover by the start of next year. But it is something, which is of little concern for BP.
Dudley said that tough time is over and they no more need to get into agreement, which would be more of divestment.