Solar and wind energy projects may constitute over half of India’s total power capacity of by 2030, according to a draft report by the country’s power-planning body, which sees the country surpassing its climate goals. Solar and wind projects are seen constituting 440 gigawatts of capacity out of the projected 831 gigawatts in more than […]
Category: The Financial Express
The Financial Express
Adani Power gets SC relief for GMDC’s lapse too
The Supreme Court on Tuesday validated Adani Power’s claim for compensatory tariff from state-owned discom Gujarat Urja Vikas Nigam (GUVNL) for additional costs incurred in supplying power from its imported coal-based Mundra plant, after the Gujarat Mineral Development Corporation (GMDC) reneged on its promise to supply local coal from Mogra-II coal block in Chhattisgarh. The […]
Jet suppliers go on merger spree trying to keep up with Boeing and Airbus output
Airbus SE and Boeing Co.’s record output of jetliners is spurring a blistering pace of mergers among aerospace suppliers as companies seek growth to keep up with demand, according to a Lazard Ltd. investment banker. The market for deals, which reached an all-time high of $120 billion last year, is “extremely robust,” Michael Richter, head […]
KPTL to sell stake in 3 assets to CLP India for Rs 3,275 crore
Kalpataru Power Transmission (KPTL) Wednesday said it has entered into binding agreements with Canada’s institutional fund manager CDPQ’s arm CLP India to sell its stake in 3 power transmission assets for an estimated enterprise value of Rs 3,275 crore. The company is selling stake in Kalpataru Satpura Transco Pvt Ltd (KSTPL), Alipurduar Transmission Ltd (ATL) […]
PNGRB cuts tariff for KG Basin gas pipeline network
In a set back for GAIL (India), the Petroleum and Natural Gas Regulatory Board (PNGRB) has slashed the tariff the company charged for its KG Basin Natural Gas Pipeline Network by 64% to Rs 16.14 per mmBtu of gas on gross calorific value. Till June 30, 2019, GAIL was charging customers Rs 45.32 per mmBtu […]
Stressed power projects await ministry implementation of Cabinet measures
Though the government approved a slew of measures to address the distress of the independent power producers just before the Lok Sabha elections, the industry is still awaiting for the power ministry to formulate concrete plans and procedure to implement them. The Cabinet Committee on Economic Affairs, on March 7, had approved certain recommendations of […]
China rejects US sanctions on Iranian oil exports, says will import oil from Tehran
China said Friday it would import Iranian oil in defiance of US sanctions on Tehran, a day before US and Chinese leaders are to meet to try to resolve thorny trade disputes. “We reject the unilateral imposition of sanctions,” said Fu Cong, Director General of the Chinese Foreign Ministry’s Department of Arms Control. The United […]
Revival Plan: Jet staff consortium, AdiGro to bid for 75% of airline
AdiGro Aviation and Jet Airways employees’ consortium will jointly bid for 75% in the airline through the NCLT process. While AdiGro Aviation, part of London-based AdiGroup, firm will take 49%, 26% will be with the employees’ consortium, the parties announced during a joint press conference on Friday. The foreign direct investment (FDI) is capped at […]
Payment security mechanism for private power plants launched
Responding to the long-standing demand of independent power companies, power minister RK Singh on Friday approved implementation of the payment security mechanism. With the new order, it would be mandatory for distribution companies (discoms) to open and maintain adequate letter of credit (LC) as payment security to private power plants. The order would be applicable […]
Lightning strike Boeing once too often
If you’re in the business of selling passenger aircraft, design flaws that might cause your planes to crash ought to be non-existent. That’s why the discovery of a second critical safety risk on Boeing Co.’s 737 Max is so alarming. Tests by the US Federal Aviation Administration found that flight computers could cause the plane […]
Why it is critical to get state electricity regulators to work
The ministry of power was probably right when it pooh-poohed a Crisil Ratings report that said, at a likely `2.6 lakh crore in FY20, the debt levels of government-owned electricity distribution companies (SEBs or discoms) would be similar to the levels they were at in the period before the Uday reforms. In other words, the […]
Living in the dark: Rural power supply below 20 hours in 10 states
In spite of the country’s installed power generation capacity (357 GW) being almost twice the peak demand levels (183 GW), daily average electricity supply duration in rural areas are below 20 hours in as many as 10 states. Among major states, Haryana villages receive 15.64 hours of daily average power supply, while rural Jharkhand, Uttar […]