Dubai-based emerging markets buyout fund Abraaj Group has joined hands with ENGIE, a multinational utility company and global independent power producer to set up a wind energy platform in India. “Together, Abraaj and ENGIE have identified a robust pipeline of wind power projects representing over 1 GW in several key states,” the companies said in […]
Day: September 20, 2017
ONGC discovers ‘good’ offshore oil, gas field with reserves of 20 mn tonnes
The latest discovery of India’s largest oil explorer Oil and Natural Gas Corp to the west of its Mumbai High offshore fields is estimated to hold in-place reserves of about 20 million tonnes, sources with knowledge of the matter said. The Mumbai High field annually produces oil and natural gas of about 9 million to […]
Reliance Industries plans major expansion at world’s largest oil refinery complex
Reliance Industries, operator of the world’s largest refining complex, is considering expanding its oil processing capacity by over 40 percent by 2030, according to two sources familiar with the matter. Reliance may expand the capacity at its dual refinery complex in Jamnagar in the western Indian state of Gujarat by 30 million tonnes a year […]
L&T bags Rs 1,700-cr crude oil pipeline contract from Kuwait Oil Company
Engineering conglomerate Larsen & Toubro (L&T) on Wednesday said it has won a Rs 1,700 crore contract in Kuwait for building a crude oil pipeline. “L&T’s hydrocarbon division has bagged a major pipeline contract with a value close to Rs 1,700 crore from Kuwait Oil Company (KOC) for Engineering, Procurement and Construction of a new […]
Final arbitration hearing of India tax dispute in Aug 2018: Cairn
British oil explorer Cairn Energy on Wednesday said final hearing in the international arbitration it has initiated against a Rs 10,247 crore retrospective tax demand raised by India, has been pushed back by about six months to August 2018. Cairn initiated arbitration against the government using a new law that gave it powers to impose […]
Asian Highway
On September 5, 2017, the Prime Minister Narendra Modi arrived in Nay Pyi Taw on his first bilateral visit to Myanmar to chart out a roadmap for closer cooperation. The very next day, on September 6, a Rs 1,177 cr construction and maintenance of road contract funded by India for the Yagyi-Kalewa section in Myanmar […]
Generating Black Money
Cases of over-invoicing in the energy sector have become rampant. Government’s own agency – Directorate of Revenue Intelligence (DRI) – in its various investigation reports has unearthed massive scam in which several private companies have siphoned away several thousand crores of rupees abroad. Most of these over-invoicing instances have been reported from the power sector, […]
Domestic Coal Mining
ICRA expects aggregate domestic coal demand growth to witness a structural slowdown on the back of government’s large renewable energy capacity addition plans. Government’s renewable plan includes taking the capacity to 175,000 MW by 2022 from the current capacity of around 58,300 MW.
5-yr Trend
The solar power tariffs discovered through bidding have recently come down to the level of Rs 2.44/ kWh in May 2017 for Bhadla Solar project in Rajasthan. The details of solar power tariffs discovered during the last five years in the country are given in
UDAY Scheme
The news on the Ujjwal Discom Assurance Yojana (UDAY) is a mixed bag. On the positive side, the financial metrics of state discoms improved in nine months of FY17, with their interest cost burden falling to 8.5 pc, as against 13 pc earlier.
Fudging of Accounts by L&T
Analysis of the published annual accounts for FY 2010-11 to 2016-2017 of six companies of L&T group reveal fudging of accounts. The management has indulged in window dressing of accounts to the extent of Rs 18,779 cr
25 cr LED sold
The Unnat Jyoti by Affordable LED for All (Ujala) Yojana is being implemented by Energy Efficiency Services Ltd (EESL), a joint venture of power sector PSUs. It is based on aggregation of demand and bulk procurement of LED bulbs by EESL, resulting in reduction of procurement prices of these bulbs which is passed on to […]