Shareholders of Reliance Power have approved a resolution to increase the company’s borrowing limit to up to five times its paid-up capital and free reserves. The special resolution, enabling the board to borrow funds, was passed by the required majority of shareholders in the annual general meeting held on Tuesday, Reliance Power said in a notice to the stock exchanges. Currently, the RPower board is authorised to raise funds up to three times the paid-up capital and free reserves. In a separate resolution, the shareholders also authorised the board to raised money through issuance of non-convertible debentures in one or more tranches/series on private placement basis. Shares of RPower slumped 3.63 per cent at ₹41.15 on the BSE.
GE Power India on Wednesday informed the exchanges that it received a contract for approximately ₹327.5 crore from Doosan Power Systems India Pvt Ltd. The order is for supply of four units of 660 MW electrostatic precipitators (ESPs) for the prestigious supercritical power projects of UP Government; Obra C 2x660 MW project of Uttar Pradesh Rajya Vidyut Utpadan Nigam, and Jawaharpur 2x660 MW of Jawaharpur Vidyut Utpadan Nigam. These ESPs, to be equipped with the latest controllers provided by GE, will have very low particulate emissions — much lesser than the new compliance norms expected to be rolled out soon in the country. After hitting a high of ₹650 in early deals, shares of GE Power India closed flat at ₹635.15 on the BSE.