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IntelliSmart Infrastructure, a leading smart meter platform, is nearing the end of its sale process, with an Adani Group entity among four shortlisted bidders. The transaction is expected to value IntelliSmart at approximately $400 million. Binding bids are anticipated by mid-June as shortlisted firms commence due diligence. View More
Mumbai: India's leading smart meter platform IntelliSmart Infrastructure has entered the final leg of its sale process, with an Adani Group entity in the four-bidder shortlist for the next round of negotiations, multiple people aware of the development told ET. The proposed transaction is expected to value IntelliSmart at an equity valuation of around $400 million (₹3,700 crore). Adani Energy Solutions, GMR Smart Electricity Distribution , GIC-backed Genus Power Infrastructures and Swiss fund Partners Group have advanced to the second round of discussions, with binding bids expected by mid-June. A deal may value co, backed by NIIF-EESL, at $400 m; binding bids likely by middle of June The shortlisted bidders have commenced due diligence, sources said. IntelliSmart, jointly owned by National Investment and Infrastructure Fund (NIIF) and financially stressed Energy Efficiency Services (EESL), had attracted nearly 10 initial bids and 4-5 potential buyers were likely to be shortlisted for detailed due diligence, ET reported last month. Emails sent to Adani, GMR, Genus Power, Partners Group and NIIF did not elicit any response till press time. Founded in 2019, IntelliSmart has secured orders for nearly 22 million smart meters from state utilities across India. Of these, the company has installed around 600,000 smart meters in Assam and about 500,000 in Uttar Pradesh. NIIF holds a 51% stake in IntelliSmart, while EESL owns the remaining 49%. EESL-a joint venture of NTPC, Power Finance Corporation, Rural Electrification Corporation and Power Grid Corporation of India-had outstanding long-term borrowings of ₹6,045 crore as of March 31, 2025, compared with ₹7,070 crore a year earlier. Live Events Adani Energy Solutions, India's leading private-sector transmission, distribution and smart metering company, recently said it has completed cumulative installations of 11.36 million smart meters. Its under-implementation pipeline stands at 24.6 million smart meters across 10 projects, with a revenue potential exceeding ₹29,500 crore. As India's leading advanced metering infrastructure service provider (AMISP), Adani Energy Solutions has a mandate to deploy 25 million smart meters across five states. Operational since January 2025, GMR's Uttar Pradesh smart metering initiative has secured three major orders worth ₹7,593 crore from UP discoms, involving the replacement of nearly 7.6 million conventional meters with smart meters. Swiss fund Partners Group, along with a consortium of global funds own a controlling stake in German smart metering portfolio company Techem, which has valuation of $7.5 billion. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
In a strategic move to bolster energy security, Coal India is gearing up to establish new coal-to-syngas facilities strategically positioned at mine pitheads or close to industrial users. This initiative comes in light of recent global gas supply challenges, prompting the company to actively seek partnerships with developers and industrial off-takers for these innovative projects. View More
New Delhi, State-owned Coal India plans to set up coal-to-syngas production units either at pithead locations or adjacent to user industries such as fertiliser units , direct-reduced iron and gas-based power plants amid disruption in gas supplies due to the West Asia conflict, sources said. Coal India Ltd (CIL), which accounts for over 80 per cent of domestic coal output, has already initiated steps to develop such coal-to-syngas facilities . In line with the National Mission on Coal Gasification and the government's vision to enhance domestic chemical and feedstock security, CIL intends to set up coal-to-syn-gas facilities to cater to the market demand for syn-gas in gas-based power plants/DRI or fertiliser plants, sources said. The company plans to develop such facilities either on Build-Own- Operate (BOO) or Build- Operate- Maintain (BOM) basis, with syngas to be produced from coal by developers or consortia, they said. Syngas serves as a versatile feedstock for the production of clean fuels, fertilisers, chemicals, and power generation. Live Events Coal India Ltd has already floated an expression of interest for identifying prospective bidders to develop coal-to- syngas facilities on BOO or BOM basis, where developers or consortia will produce syngas from coal under two proposed models, sources said. Under the first model, a syngas production facility will be set up at the CIL mine pit head areas with multiple industrial consumers. The primary aim is to establish syngas hubs within available CIL land, preferably at pit heads, to supply syngas to nearby industrial clusters. This model aims to significantly bring down logistics costs by minimising coal transportation and enabling industries to receive syngas economically through a dedicated pipeline network. Under the second model, the company plans to set up the syngas production facility adjacent to an existing gas-based power plant, DRI plant, fertiliser unit, or a single large industrial consumer. This arrangement is designed to optimise both operational efficiency and supply reliability by positioning the syngas plant in immediate proximity to the primary end-use facility. The objective of this model is the on-site generation of syngas next to the end user plant. By minimising the distance required for pipeline transport, the system ensures a dedicated and uninterrupted supply of syngas directly to a single anchor industry. This close integration supports tailored production to meet specific requirements of the off-taker. In continuation and support of this initiative, CIL is also in lookout of potential industrial off-takers who will utilise the syngas produced from such facilities as feedstock or fuel under long-term arrangements. The coal behemoth has also issued an expression of interest to assess market interest, preferred supply models, and commercial expectations of potential off-takers of syngas. The primary objective of the expression of interest is to identify the potential industrial off-takers who are willing to utilise syngas produced from coal-to-syngas facilities established by CIL or its designated SPV(Special Purpose Vehicle), JV (Joint Venture) under BOO or BOM mode. Coal India Ltd has been exploring possibilities to diversify into coal gasification to enable the production of syngas and downstream value-added chemical products. CIL also has diversified into coal gasification by incorporating two JV companies with other Maharatna PSUs. Bharat Coal Gasification and Chemicals Ltd (BCGCL) is a joint venture company (JVC) of CIL and BHEL , in which CIL holds 51 per cent shareholding to set up a coal to ammonium nitrate project in Lakhanpur, Odisha Coal Gasification India Ltd (CGIL) is a JVC of CIL and GAIL , in which CIL holds 51 per cent shareholding to set up a coal to Synthetic Natural Gas (SNG) project in Bhadarpur, West Bengal. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Electricity distribution companies are showing better payment habits. This is helping power generators receive payments on time. Key operational metrics have improved significantly. The gap between costs and revenue has narrowed. Technical and commercial losses have also fallen. The sector reported its first profit in years. However, performance varies across states. View More
New Delhi: Recent improvements in the payment discipline of state-owned electricity distribution companies (discoms) are supporting near-term cash flow visibility for power generators , although the sustainability of these gains will depend on continued reform support from the central government and progress in addressing structural weaknesses in the sector, according to Moody's Ratings . The ratings agency said the distribution sector has shown a marked improvement in key operational metrics in recent years. The gap between average cost of supply and average revenue realised (ACS-ARR) narrowed sharply to Rs 0.06/unit in FY25 from Rs 0.69/unit in FY21, while aggregate technical and commercial losses fell to 15% from 21.9% over the same period. The sector also reported a consolidated profit after tax of around Rs 27 billion in FY25, the first such profit since the unbundling of State Electricity Boards. However, the performance remains uneven across states. The agency said that 20 out of 31 states continue to report ACS-ARR gaps above the state discom average, while only Gujarat and West Bengal have accumulated surpluses. According to the report, the late payment surcharge rules introduced in 2022 have strengthened payment discipline and cut receivables pressure for power generators. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
TAM on power exchanges provides products allowing participants to buy or sell electricity on a term basis for up to 90 days View More
The company’s decision to use expensive NMC cells instead of industry-standard LFP chemistry for its lithium-ion batteries has led to a massive revenue shortfall and slowdown in its home energy storage business. View More
IMAX has held "preliminary talks" through intermediaries, but no official pitches have been made directly by the company, a source told CNBC. View More
In this articleIMAXFollow your favorite stocksCREATE FREE ACCOUNT An Imax private screening for the movie "First Man" at an AMC theater in New York on Oct. 10, 2018.Lars Niki | Getty Images Entertainment | Getty Images Shares of premium theater company IMAX jumped after the closing bell Thursday following a report that it's exploring a sale.A source familiar with the company told CNBC that it has held "preliminary talks" through intermediaries, but no official pitches have been made by the company. IMAX's longtime bankers occasionally test the waters for potential interest, said the person, who spoke on the condition of anonymity due to the confidential nature of the discussions.The Wall Street Journal first reported the potential sale process. The stock was up roughly 10% in extended trading. CEO Rich Gelfond recently returned to work after taking temporary medical leave to undergo treatment for pneumonia. Gelfond told shareholders back in December that he was open to a potential sale of the company. He said at the company's investor day that IMAX is "an incredibly valuable player, either as a wholly differentiated publicly-traded company or as part of a larger company with the keys to unlock even greater value and our strong business worldwide.""We're very excited about all of those possibilities. And we're going to run our business to maximize value in every possible way," Gelfond said. IMAX has become the premiere vendor of premium experiences in the theatrical space. Last year, the company generated a record $1.28 billion at the global box office, a more than 40% increase over 2024 and 13% higher than its previous record set in 2019.Meanwhile, premium large format, or PLF, screens continue to grow in popularity. In 2025, PLF screens accounted for 16.3% of domestic ticket sold, averaging $16.88 a piece. That's up from around 14% of tickets sold in 2021 at an average of $15.42 each, according to data from EntTelligence. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Patratu Vidyut Utpadan Nigam Limited has started trial runs for its second 800 MW power unit. This boosts the project's capacity to 1,600 MW. The NTPC group's total installed capacity now exceeds 90 GW. Jharkhand will receive 85 percent of the power generated. Unit-3 is under construction and expected by FY27. View More
Ranchi: Patratu Vidyut Utpadan Nigam Limited (PUVNL), a joint venture between NTPC Ltd and Jharkhand Bijli Vitran Nigam Ltd , has commenced trial operations of the second 800 mw unit at its Patratu Super Thermal Power Project , taking the project's total installed capacity to 1,600 mw. With the latest addition, the total installed capacity of the NTPC group has crossed the 90 GW mark, the company said in a statement. PVUNL CEO Ashok Kumar Sehgal said 85 per cent of the power generated from the project has been allocated to Jharkhand, which would help strengthen the state's energy security and support industrial growth. "With the commissioning of Unit-2, PVUNL has emerged as a transformational project for Jharkhand's energy landscape," he said. The company said Unit-1 of the project began commercial operations in November 2025, while Unit-2 achieved full load in March 2026 before entering successful trial operations on May 11. Live Events RECOMMENDEDSTORIES FOR YOUIs India Inc's CSR truly driving systemic change or just shifting funds?India-UAE energy agreement: This Emirati strategy has power PVUNL generated 2,062.90 million units of electricity during the 2025-26 financial year, it said. Work on Unit-3 is currently underway and is targeted for commissioning in FY27, it added. According to the company, the project uses ultra-supercritical technology, air-cooled condensers and a 100 per cent dry ash handling system to improve efficiency and minimise environmental impact. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)