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Nava Bharat Ventures Ltd updates on operations of Maamba Collieries Limited

Nava Bharat Ventures Ltd updates on operations of Maamba Collieries Limited
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Nava Bharat Venture slips after Q4 PAT declines 14% YoY

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Nava Bharat Ventures resolves Odisha plant's metering and connectivity issues

Nava Bharat Ventures resolves Odisha plant’s metering and connectivity issues
April 06, 2021
The company’s Telangana arm resumes power generation on improved merchant power market
Nava Bharat Ventures Limited has informed that it has resolved some of the long-pending metering and connectivity issues concerning a 60 MW independent power project located in Odisha.
This is a long-pending issue of the 60MW IPP in Odisha and was pending disposal of the legal case before the High Court for final settlement. This paves the way for operationalising the 60 MW IPP over the next two months, which remained idle for several years.
The company also informed BSE in a regulatory update, that the 150 MW IPP of 100% subsidiary, Nava Bharat Energy India Limited, located in Telangana, which was shut down in FY 2021, has resumed power generation following an improved merchant power market and is now exporting power through Power Exchange. ....

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Nava Bharat Ventures provides operations update

Nava Bharat Ventures announced the recent developments concerning the operations of the company and its subsidiaries as under:
I. The Company has engaged with the local Power Utility in Odisha and has been able to resolve the long pending metering and connectivity issue of the 60MW IPP in Odisha pending disposal of the legal case before the Hon ble High Court for final settlement. This paves way for operationalizing this 60 MW IPP, which remained idle for several years, over the next two month period.
2.
Further, the 150 MW IPP of 100% subsidiary, Nava Bharat Energy India, Telangana, which was shut down in FY 2021, has resumed power generation following improved merchant power market and is now exporting power through Power Exchange. ....

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