State run Power Finance Corporation has declared the results for the three-month period ended March 31, 2009.

For the period under review, the New Delhi-based firm said that it has posted a growth of 32.22% in its net profit after higher loan disbursals.

The company’s net profit in the fourth quarter stood at Rs 390.58 crore, as compared to net profit of Rs 295.40 crore during the corresponding period of the last year.

Areva T&D India, the subsidiary of the France-based Areva Group, has received a prestigious order for two 500 MVA Power Transformers from Power Grid Corporation of India Limited.

The latest orders are considered as the highest in ratio 400 KV 3 phase class transformers in the country, which will PowerGrid in augmenting capacities of their 400 KV Substations at Malerkotla and Patiala in Punjab.

Both transformer orders are scheduled to be delivered by Q3 2010.

In a latest development, India's largest utility NTPC has informed that it would start coal production from its mines in Jharkhand in the second half of this fiscal.

The company plans to achieve a coal production target of 15 million tonnes per annum by 2012.

It should be noted that NTPC has ventured into the coal mining business with an aim to meet about 20 per cent of its fuel requirement from its captive mines by 2017.

The International Finance Corporation (IFC), a member of the World Bank Group, has decided to provide both equity and debt to china-based wind energy developer, Honiton Energy Caymans Plc.

The Tanti Group, promoters of India's top wind turbine maker Suzlon Energy Ltd, holds a 23.6% equity stake in Honiton Energy.

Honiton Energy plans to build up about 1,600 MW of wind energy capacity by the next three years (2012) in China's Inner Mongolia region.

ABB, a leader in power and automation technologies, on Wednesday announced the opening of its greenfield automation products facility near Bangalore.

The inauguration of latest facility is one of many initiatives that company has taken up in India to build and expand capacity to meet the needs of the future.

According to the Wednesday announcement from National Thermal Power Corporation (NTPC), the company’s year-on-year net profit figures for the fiscal ending March 2009 rose 5.56 percent, after deducting Rs. 1,400 crore for the employees’ wage revision in 2008-09.