Notwithstanding the recent ₹90,000-crore relief package for power distribution companies, aimed at providing liquidity and enabling payments to various Gencos, the country will have to brace up to addressing the issues relating to about 45-50 giga watt (GW) stressed thermal power assets. The progress on stressed asset resolution has been slow till March 2020 due […]
Category: Power
Solar tariff of under ₹2.50 is unviable, says report
Renewable energy company ACME, which created ripples in the industry in May 2017 and July 2018 by offering to sell solar power at ₹2.44 a kWhr, in capacity auctions conducted by state-owned SECI, is now again in the news for backing out of the project. The company has invoked the force majure clause to escape […]
PFC to finance projects worth ₹22,000 crore in Madhya Pradesh
Power Finance Corporation (PFC) has entered into an agreement with Narmada Basin Projects Company Limited (NBPCL) on Monday to fund ₹22,000 crore for hydro-electric and multipurpose projects in Madhya Pradesh. The funds will be deployed by NBPCL for setting up hydroelectric projects of 225 MW and power components of 12 major multipurpose projects in the […]
Heat wave drives Delhi’s peak power demand to season high of 5,268 MW
Delhi’s peak power demand reached a seasonal high of 5,268 MW on Sunday night amidst a heat wave. For the last two months, the closing down of commercial and industrial establishments besides offices had led a sharp decline in the overall power demand. With relaxations in lockdown there are signs of revival of activities and […]
Minister reviews restoration of power infrastructure post-Amphan
The progress of power system restoration post-Amphan cyclone in West Bengal and Odisha was reviewed by the Minister of State (Independent Charge) for Power and New and Renewable Energy, . Singh said that the disruption caused by the cyclone to the power systems was extensive, but the restoration work has been carried out swiftly. He […]
Relief package worth ₹90,000 crore expected to boost credit profile of gencos
The ₹90,000-crore relief package announced for distribution companies (Discoms) under the Atmanirbhar Bharat Abhiyan would boost the credit profile of generating companies. This would materially reduce their working capital requirements and consequently the debt taken to fund receivables, according to India Ratings (Ind-Ra). This move will benefit all power companies including central public sector enterprise […]
ONGC, NTPC to set up joint venture for renewable energy business
Oil and Natural Gas Corporation (ONGC) and NTPC are planning to set up a joint venture company for the renewable energy business. The two have signed a memorandum of understanding on Thursday in Delhi to formalise this arrangement. “The MoU will enable both companies to achieve their targets in renewable energy business,” an ONGC statement […]
KPTL’s Q4 net plunges 80%, to raise ₹300 crore through NCDs
Kalpataru Power Transmission Limited (KPTL) will raise funds by issuing secured/unsecured redeemable non-convertible debentures (NCDs) upto ₹300 crore in one or more tranches. Further, the KPTL board has proposed to buy back shares worth up to ₹200 crore at a price not exceeding ₹275 per share. At the maximum buyback price and size, the indicative […]
Covid-19 fallout: JSW deal to buy Kamalanga Energy put on hold
The sale of GMR Energy’s entire stake in GMR Kamalanga Energy Ltd to JSW Energy has been put on hold on account of outbreak of Covid-19, according to a regulatory filing. In February, JSW Energy had signed a share purchase agreement to acquire 100 per cent of GMR Kamalanga Energy, which owns and operates a […]
Allow us to operate power plant, pleads Sterlite Copper
Sterlite Copper, whose 4-lakh-tonne smelter in Thoothukudi, Tamil Nadu, has been lying shut for over two years, is now pleading to the State government to allow it to operate its 160 MW power plant. In letters written recently to the State Chief Minister and Electricity Minister, Sterlite Copper pointed out that the Tamil Nadu Pollution […]
KEC International bags orders worth ₹1,203 cr
Infrastructure firm KEC International on Tuesday said it has bagged orders worth ₹1,203 crore across various businesses. In a statement, the RPG group company said the power transmission and distribution segment, its T&D business and SAE Towers have secured orders worth ₹917 crore for transmission and distribution (T&D)projects in India, Bangladesh, Africa and the Americas. […]
JSW Energy puts GMR Kamalanga buy on hold
Sajjan Jindal-backed JSW Energy has put its GMR Kamalanga acquisition on hold as a result of Covid-19 related uncertainties. “The transaction has been put on hold given the ongoing uncertainty and will be revisited once the situation normalises,” the company said in a statement to the exchanges. JSW Energy, in October, had announced the acquisition […]