Latest news with #HCR
Business Wire
15-07-2025
- Business
- Business Wire
Homer City Redevelopment Announces Agreement in Principle for EQT Corporation to Supply Nation's Largest Natural Gas-Powered Data Center Campus
INDIANA COUNTY, Pa.--(BUSINESS WIRE)--Homer City Redevelopment ('HCR') today announced an agreement in principle (the 'Agreement') for EQT Corporation (NYSE: EQT) ('EQT') to serve as HCR's exclusive partner to source and supply the natural gas needed to power the 4.4 gigawatt natural gas facility that will serve the Homer City Energy Campus — a 3,200 acre AI and high-performance computing (HPC) data center campus currently under construction and slated to begin producing power in 2027. The project is designed to meet the needs of the innovative technology companies shaping America's digital future. This partnership marks a major milestone in the execution of HCR's plan for the evolution of the former Homer City Generating Station, first announced on April 2, 2025. The project will transform the site that was previously home to Pennsylvania's largest coal-burning power plant into a next-generation power and data infrastructure hub, combining high-performance AI computing with a fully integrated, on-site natural gas generating station. Under the Agreement, HCR will have an unparalleled level of gas supply redundancy for the site with the ability to source gas from both the Texas Eastern Transmission and Eastern Gas Transmission and Storage pipeline systems. HCR and EQT will unlock natural gas supply of up to 665,000 MMBTUs per day. The transaction is one of the largest single-site natural gas purchases in North American history. 'EQT is synonymous with Pennsylvania energy and American innovation, and we are thrilled to have them as a partner for this project,' said Corey Hessen, CEO of Homer City Redevelopment. 'This agreement ensures long-term energy security for the data center campus, while demonstrating our commitment to powering the future with Pennsylvania gas, Pennsylvania power and ultimately, Pennsylvania data centers.' 'This project is a win for Pennsylvania and for America. We are proud to be named the exclusive partner to provide the energy needed to power the Homer City Energy Campus and the future of AI,' said Toby Z. Rice, President and CEO of EQT Corporation. The project's financing is led by Knighthead Capital Management, LLC ('Knighthead') 1. Knighthead has had significant equity positions in Homer City for nearly eight years. Andrew Shannahan, a Partner at project sponsor Knighthead, and a member of HCR's parent company's Board of Directors, said, 'The Homer City project sits at a unique intersection of next-generation computing and traditional energy expertise. The partnership with EQT represents another key component as we continue to move rapidly toward construction and ultimately operation of the power station. Earlier today, GE Vernova also announced that it has finalized a full order to provide seven of its high efficiency 7HA.02 natural gas turbines to the Homer City Energy Campus, with the first deliveries expected to begin in 2026. Kiewit Power Constructors Co. – one of the premier engineering, procurement and construction (EPC) contractors in the country – is leading construction. To learn more about the future Homer City Energy Campus, please visit: About Homer City Redevelopment Homer City Redevelopment is focused on transforming legacy energy infrastructure into state-of-the-art digital and energy assets. Located in Indiana County, PA, the Homer City Energy Campus will be the largest of its kind in North America upon completion. About EQT Corporation EQT Corporation is a premier, vertically integrated American natural gas company with production and midstream operations focused in the Appalachian Basin. We are dedicated to responsibly developing our world-class asset base and being the operator of choice for our stakeholders. By leveraging a culture that prioritizes operational efficiency, technology and sustainability, we seek to continuously improve the way we produce environmentally responsible, reliable and low-cost energy. We have a longstanding commitment to the safety of our employees, contractors and communities and to the reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day — trust, teamwork, heart and evolution are at the center of all we do.
Time of India
04-07-2025
- Business
- Time of India
Mahindra Holidays acquires Finland's property firm for ₹2.35 crore via subsidiary
NEW DELHI: Mahindra Holidays & Resorts India (MHRIL), through its Finnish arm Holiday Club Resorts Oy (HCR), has acquired 100% stake in Keskinäinen Kiinteistö Oy Salla Star (KKOSS), a mutual real estate company based in Finland , for ₹2.35 crore. The all-cash deal gives MHRIL full ownership of KKOSS, which owns a land parcel and a building in the village of Märkäjärvi, in the municipality of Salla. The move comes more than a decade after HCR began leasing the property in 2012. The acquisition aligns with a pre-agreed share purchase arrangement allowing HCR to take control of the asset. The acquired company posted a turnover of ₹5.13 lakh and had a net worth of ₹2.37 lakh as of December 31, 2024. With this acquisition, Mahindra Holidays strengthens its real estate footprint in Finland, where it has maintained an active presence through its European subsidiary.
Time of India
03-07-2025
- Business
- Time of India
Mahindra Holidays acquires Finnish mutual real estate company KKOSS
Chennai: Mahindra Holidays & Resorts India has, through its Finland-based subsidiary, acquired 100% stake in Finnish mutual real estate company Keskinäinen Kiinteistö Oy Salla Star (KKOSS) for a cash consideration of Rs 2.35 crore. The deal was done through the Finland incorporated Holiday Club Resorts Oy (HCR), which is a wholly owned subsidiary of Covington Sarl (Covington), which is a wholly owned subsidiary of MHR Holdings (Mauritius) which is a wholly owned subsidiary of Mahindra Holidays & Resorts India. KKOSS is primarily in the business of owning and managing the property located in Block 26 in the village of Märkäjärvi, in the municipality of Salla, Finland, the company said in a stock market notification on Thursday. HCR has acquired 100% stake in KKOSS comprising 448 shares, said the notification. The turnover of KKOSS for calendar year 2024 was Rs 5.13 lakh.
Hindustan Times
28-06-2025
- Business
- Hindustan Times
Nearly half of Delhi's liquor licensees apply for renewal
Around half of Delhi's hotels, clubs and restaurants with excise licenses to serve liquor applied for renewals within 24 hours of the excise department issuing a circular mandating fresh licenses, two officials aware of the matter said on Saturday. A liquor store in Delhi. (AFP) The officials cited above added that approximately 40% of Delhi's 713 government-run retail liquor stores have also submitted renewal applications. They clarified there is currently no threat of a disruption in liquor supply in the Capital. On Friday, the Delhi government extended the existing liquor policy till March 2026 — one of the longest such extensions since the controversial 2021-22 excise regime was scrapped in September 2022 over alleged irregularities. Delhi has around 1,000 licensees in the hotels, clubs, and restaurants (HCR) category, including L16 (independent restaurants), L17 (hotels), and L18 (clubs). 'By Saturday afternoon, roughly 50% of HCR licensees had applied through the excise portal. The entire process, including payment, is online. We are working to ensure that those who pay the required fees get their renewed licenses before June 30,' said an excise official. The apparent urgency stems from the fact that the existing licenses — issued in March — expire on June 30. Without renewal, establishments cannot order fresh liquor stock or serve alcohol from July 1 onward. The tight deadline has left the hotels, clubs, and restaurants across the city are scrambling to renew their licenses in time, one of the officials cited above said. The official added that 40% of the retail stores run by the four Delhi government corporations have also initiated the renewal process. The e-Abkari portal handles the online application process, which requires licensees to upload documents such as a fire NOC and trade license. 'Once submitted, the documents are verified within two hours. If cleared, a payment link is emailed and texted to the applicant. After payment, the license is automatically generated,' said another excise department official. Despite the streamlined process, many restaurant owners have expressed concern over the short notice. 'We've been given just three days before the June 30 deadline. Two of those are weekend days, when we're busiest. The process is quick, but document scrutiny still takes time. The government should have given us at least a week,' said the owner of a Connaught Place restaurant, requesting anonymity. The government's decision to extend the current liquor policy again underscores the ongoing uncertainty around Delhi's excise framework. A new policy has been in the works for over 33 months but is yet to be finalised. Friday's extension means the city will continue operating under the 2020-21 excise policy, which has already been extended five times. Sandeep Anand Goyle, Delhi chapter head of the National Restaurant Association of India (NRAI), urged the government to expedite the rollout of the new policy. 'The government has extended the current regime till the end of the financial year, but we request that a new excise policy be announced soon to encourage investment, employment, and to curb the flight of business to neighbouring cities. This will also boost government revenue,' he said. Excise officials, however, maintained that all applications submitted before the June 30 deadline will be processed on priority. 'There is no cause for panic. All establishments that follow the procedure and pay the required fee on time will receive their renewed licenses without disruption,' one of them said.
Indian Express
12-06-2025
- Indian Express
Can't employ those younger than 21 years at hotels, clubs & restaurants that serve alcohol in Delhi
Not only are citizens below the age of 25 prohibited from buying or consuming alcohol at hotels, clubs and restaurants in Delhi, but those aged 21 and under are also banned from working at any premises where liquor is served or sold. The Delhi Excise Department has issued directions to all Hotel, Club, and Restaurant (HCR) licensees to provide documentary proof that their staff are above the age of 21. 'As per the rules, HCR licensees are not allowed to employ any salesman or representative who has a criminal background or suffers from any infectious and contagious disease or is below 21 years of age. But, recently during an ongoing drive, the department found that several places have employed staff below 21 years of age, which is illegal and violates the rules,' said a senior official. The official added that the department also received complaints in this regard: 'When licensees apply for a licence, they submit that the staff who work on their premises are employed as per the rules. But many of them violate the guidelines later… So, the department has asked all licensees to submit documentary evidence in this regard within a week… otherwise, the department will take action.' The department has also asked HCR licensees to submit police clearance certificates of their staff — from directors, salesmen to representatives. 'The certificate is given by the police, saying that the said person employed with the HCR licensee possesses good moral character and has no criminal background or record…,' said an official. The department has directed these licensees to submit medical reports from government hospitals and dispensaries certifying that their staff are not suffering from any infectious and contagious disease. The HCR licensees have been asked to submit the reports in a week. There are about 1,000 HCR licensees registered in Delhi that serve liquor at their premises. In April, the department launched an aggressive drive against unlicensed premises. It conducted more than 40 raids in different parts of the city and found over 24 restaurants and cafes serving liquor to customers without a licence. In May, the department issued a five-day deadline to all HCR licensees to submit a police clearance certificate (PCC) and warned of strict action under the Delhi Excise Act and Rules.
