Demand for domestic solar cells and modules will grow to around 36 giga-watt (GW) in the next three years, Prime Minister Narendra Modi said on Thursday, underscoring the need for India to be a global manufacturing hub for renewable energy. Incentives would be given for local production of these products, he said. Currently, the country’s […]
Category: Power
Power
Adani Power wins short-term contracts to supply 6,100 MW to Punjab
Adani Power has won short-term contracts for supply of 6,100 megawatt (MW) of electricity in auctions held by the Punjab government for procuring a total of 7,000 MW. Although the tariffs quoted by the firm are not known, sources said the deals were struck at rates ranging between Rs 3.35-3.59/unit, slightly lower than short-term prices […]
Aggressive bidding: Solar tariff hits a new low of Rs 2/unit
The latest round of solar auctions in the country — – conducted by state-run Seci for supplies to consumers in Rajasthan — has discovered tariff of Rs 2/unit, a new low. The previous lowest tariff was Rs 2.36/unit found under pan-India auctions held in July. The winning developers bid aggressively to win contracts to set […]
Separate carrier & content: A roadmap for power sector reforms
While unbundling of generation and transmission sectors happened long ago, the distribution sector unbundling has remained a non-starter. Now and then, efforts made for discom privatisation could not gather support because these were in the form of replacement of public monopoly with private monopoly. Access to affordable quality power availability will remain a dream only, […]
Power Grid Rating: Hold- Other income rise drove PAT beat
Q2FY21 profits beat was due to higher other income. Consolidated capex is down 14% y-o-y and capitalisation is up 154% y-o-y as Rs 95 bn of the Rs 195-bn Raigarh Pugalur project was commissioned. Higher surcharge income drove the 67% y-o-y other income rise. We raise our FY21e-22e EPS by 2-5% to account for the […]
India to pursue twin goals of becoming economic and energy superpower: Mukesh Ambani
India needs disruptive solutions in renewable, low carbon and carbon recycle technologies, as well as breakthroughs in renewable energy and innovations in energy storage and utilisation to achieve the twin goals of becoming an economic and a clean-and-green energy superpower, Reliance Industries Chairman Mukesh Ambani said on Saturday. Ambani, who is also the President of […]
Delay in supply pacts with discoms seen to hit renewable energy projects
The delay in signing power supply agreements (PSA) by Solar Energy Corporation of India (SECI) with discoms for over 20,000 MW of power projects awarded in the last one year is threatening the renewable energy target of 175 giga watt (GW) by 2022. Manufacturing projects of 12,000 MW was awarded in June, while the peak-off-peak […]
Bharti Airtel to acquire 5.2 pc stake in Avaada MHBuldhana for Rs 4.55 cr
Bharti Airtel on Friday said it will acquire 5.2 per cent stake in solar power company Avaada MHBuldhana for Rs 4.55 crore in an all-cash deal. Avaada MHBuldhana Private Limited is a newly-formed company and developing a captive generating solar power plant in Maharashtra which will become operational by March 2021. It is a subsidiary […]
Reforming power-pricing: Constraints must be reconciled through policy interventions and reforms
Extending electricity connection to every household is the greatest power reform touching the life of the common citizen. Now, 24×7 quality power at affordable prices must be ensured. But, the buzz on the next round of power reforms is centred on the amendments to the Electricity Act (EA) and/or the Tariff Policy proposed rather than […]
MNRE proposes 54 GW wind park scheme for states
To address the land-related hassles in wind power projects, the Union ministry of new and renewable energy (MNRE) is planning a wind energy park development scheme. As part of the same, states will prepare the necessary infrastructure for wind power project developers under the plug- and-play model. MNRE will provide financial assistance of Rs 20 […]
Chanda Kochhar moves Supreme Court challenging termination from ICICI Bank
Former ICICI Bank CEO Chanda Kochhar on Friday moved the Supreme Court challenging her termination from the bank, and sought all the pensionary benefits, including bonuses and stock options, post her retirement. Kochhar has challenged the Bombay High Court’s March 5 order that dismissed her petition against her termination on the grounds that the termination […]
PMLA case: ED assures SC of no coercive action against former ICICI Bank CEO Chanda Kochhar
The Enforcement Directorate (ED) Friday assured the Supreme Court that it would not take any coercive action against former ICICI Bank CEO and MD Chanda Kochhar in a money laundering case. A bench headed by Justice S K Kaul was informed by Solicitor General Tushar Mehta that the agency would not take any coercive step […]