Tata Power saw a 177 per cent hike in its net profit for the March-ended quarter on the back of proceeds accrued from the sale of Cennergi investment and reversal of MAT Credit due to transition to new tax regime in the renewables business. In the March-ended quarter, Tata Power reported net profit of Rs […]
Category: Power
Tata Power shares surge 7 per cent on 2-fold jump in Q4 profit
Shares of Tata Power on Wednesday rallied 7 per cent after the company posted a two-fold rise in its consolidated net profit for the January-March quarter compared to the year-ago period. The scrip gained 6.95 per cent to Rs 34.60 on BSE, while it surged 6.62 per cent to Rs 34.60 on NSE. Tata Power […]
Liquidity booster for discoms to save 9.4 GW capacity from defaults: Crisil
The government’s move to provide ₹90,000 crore loans to state power distribution companies (discoms) would help 9.4 GW private thermal coal capacities from defaulting post moratorium. The Finance Minister’s announcement would help clear a chunk of discoms’ obligations to power generation companies, says a report by Crisil. The ₹90,000-crore loans are to be provided through […]
India adds 1.1 GW of solar in Q1 2020: Mercom India
India has added 1,080 megawatts (MW) of solar in the first quarter (Q1) of 2020, a 43 per cent decline compared to 1,897 MW installed in Q4 2019, according to a report by Mercom India Research. Solar installations were down by 39 per cent year-over-year (YoY) compared to 1,761 MW added in Q1 2019. Solar […]
Torrent Power posts standalone Q4 net loss of ₹222 crore
Torrent Power Ltd on Monday announced standalone net loss of ₹222 crore for the fourth quarter ended March 2020, as against the net profit of ₹27 crore in the corresponding quarter last year. Company has registered standalone revenues of ₹2,931 crore for the quarter under review, as against ₹2,839 crore in the same quarter last […]
Sterling and Wilson Solar bags EPC contract in Australia for Rs 2600 crore
Sterling and Wilson Solar Limited (SWSL)has bagged an Engineering Procurement Construction (EPC) contract in Australia for Rs 2,600 crore. Further, the contract includes operation and maintenance which is estimated to be worth Rs 415 crore for 20 years, the company said in a statement. This contract, its largest in Australia, comes within 15 months of […]
Forging units seek minimum demand charges, banking facility from TANGEDCO
Hundreds of forging factories and other manufacturing units in Tamil Nadu face the threat of a financial blow in the area of power cost as they await the exemption of power utility, and support like in other States. These units are facing the issue of maximum demand charges and banking of April’s solar generation units. […]
MSME disappointed over no help in payment of wages, electricity bills
Many in the Micro, Small and Medium Enterprises (MSMEs) sector are disappointed with the government for ignoring their demand for part-payment of wages, fixed electricity costs and waiver of interest on loans to tide over the lockdown months and are concerned that more loans will drive them deeper into debt. While the Centre’s decision to […]
JSW Steel ready to close BPSL deal despite Covid turbulence
JSW Steel is confident of completing the Bhushan Power and Steel acquisition even in the current state of economy ravaged by Covid, if the Supreme Court gives its approval. Sajjan Jindal, Chairman, JSW Group, told BusinessLine that JSW Steel remains committed to the acquisition and will be able to proceed with fulfilling the requirements of […]
Electricity bills will come down by 25%, says Power Minister
RK Singh, Minister of State (Independent Charge) for Power and New and Renewable Energy, believes that consumers will save of up to 25 per cent on their monthly bills, thanks to the ₹90,000 crore earmarked for power distribution companies (Discoms) under the Aatmanirbhar Bharat economic package. The package, announced on Wednesday, focusses on helping Discoms […]
Grundfos Chennai facility receives LEED Platinum certificate for green design
Pump solutions and water technology company Grundfos India has said that its Chennai facility, comprising both its country headquarters and the factory building, has been accredited with LEED (Leadership in Energy and Environmental Design) Platinum Certification by the US Green Building Council (USGBC). The Grundfos India facility has underground water tanks with the capacity to […]
Telangana to expedite set-up of Bhadradri, Yadadri Thermal Power Stations
The Telangana Genco, which is in the process of setting up the 1,080 MW (270×4) and 4,000 ultra mega (800×5) MW Yadadri thermal power stations, is working out ways to expedite the project implementation and ensure their timely completion. The nationwide lockdown due to the coronavirus pandemic and the movement of the migrant workforce has […]