NEW DELHI: Power regulator CERC’s decision to approve higher tariff for Adani Power (Mundra) Ltd is a positive measure for affected imported coal-based independent power producers, rating agency Icra said on Wednesday. The tariff relief approved under the supplemental PPAs (power purchase agreements) by the Central Electricity Regulatory Commission (CERC) will significantly reduce the losses […]
Category: Power
Power
CERC sets precedent, offers relief to Adani’s imported coal fuelled Gujarat project
New Delhi: In a move that may set a precedent and raise electricity tariffs, India’s apex power sector regulator on Friday approved the revised power purchase agreements (PPAs) for billionaire Gautam Adani’s promoted Adani Power Ltd’s Gujarat plant on account of the unexpected increase in the prices of imported coal. With the issue hanging fire […]
Petronas of Malyasia buys Amplus Energy in ₹2,700 crore deal
New Delhi: Malaysia’s state-run oil and gas company, Petroliam Nasional Bhd or Petronas on Monday said it has acquired Amplus Energy Solutions Pvt. Ltd, one of India’s largest rooftop solar power producers. The ₹2,700 crore deal, which is expected to be completed later this month, marks Petronas’ foray into the global clean energy space. Oil […]
CESC’s power distribution foray lowers capital outlay, returns still elusive
Mumbai: CESC Ltd is making progress on its strategy to stay away from the capital-intensive power generation business. It won distribution franchises for three cities in Rajasthan (Kota, Bikaner, Bharatpur in FY17 and FY18) and is about to secure another one in Maharashtra (Malegaon). Returns from the distribution franchise are linked to loss reduction in […]
India develops pan nation electricity mobile app for ensuring 24X7 supply
New Delhi: In what will help ensure round-the-clock electricity across India, the union government has developed a crowd sourcing mobile app for accessing real time consumer feedback on quality and availability of power from across the country. This comes in the backdrop of a need for data integrity, with many a states claiming to have […]
India’s weak power demand points to more slowdown pain ahead
India is witnessing a listless growth in electricity demand, possibly signaling more slowdown in Asia’s third-largest economy. Electricity requirement from distribution utilities in February rose 1.3 percent from a year earlier and barely changed from January’s 1.1 percent, the weakest growth in two years, according to the power ministry’s Central Electricity Authority. Data for power […]
ReNew Power, NTPC eye PTC India’s wind power business
Mumbai: ReNew Power Ltd, India’s largest clean energy company, and state-run power utility NTPC Ltd have shown interest in the ongoing sale process of PTC India Ltd’s wind power business, said two people aware of the development, requesting anonymity. “ReNew Power and NTPC have been involved in talks with the company for the last few […]
Power producers outstanding dues on discoms spike 20% to nearly ₹41,000 crore in January
NEW DELHI: Outstanding dues of power producers on electricity distribution utilities have increased by more than 20% to ₹40,804 crore in January 2019 compared to the year-ago month, adding to the woes of the stressed sector. According to PRAAPTI portal, discoms owed a total of ₹33,848 crore to power generation companies in January 2018. The […]
PSEs to stay PSUs even with below 51% government stake
NEW DELHI: The government is planning a major overhaul of the definition of state-run companies where an entity will continue to qualify as public sector enterprise (PSE) even if the government holding falls below 51%. Sources in the Department of Public Enterprises said the change in definition is being discussed with the Finance Ministry, and […]
Bajaj Energy files for IPO, plans to raise ₹5,450 crore
MUMBAI: Bajaj Energy along with Lalitpur Power Generation Company, Tuesday filed for a initial public offering with the market regulator Sebi with a plan to raise ₹5,450 crore through offer. The offer comprises fresh issue of share up to ₹5,150 crore by the company and an offer-for-sale of equity shares by Bajaj Power Ventures aggregating […]
Avaada Energy raises ₹1,000 crore from ADB, Germany’s DEG and Netherlands’ FMO
New Delhi: Vineet Mittal-promoted Avaada Energy Pvt Ltd has raised ₹1,000 crore from investors such as the Asian Development Bank, Germany’s Deutsche Entwicklungs- und Investitionsgesellschaft (DEG), Dutch development bank Netherlands Development Finance Company (FMO), Avaada Group said in a statement on Tuesday. The equity raised is for financing Avaada Energy’s 2.4 giga watt (GW) renewable […]
NTPC signs ₹2,000 crore term loan pact with Canara Bank
New Delhi: State-run power giant NTPC said Friday it has inked a term-loan agreement with Canara Bank to raise ₹2,000 crore, which would be used to part finance its capital expenditure. “A term loan agreement for ₹2,000 crore was signed with Canara Bank on April 5, 2019. The loan facility is extended at an interest […]