Mumbai/New Delhi: In its 2014 election campaign, the Bharatiya Janata Party (BJP) promised to bring development, and specifically electricity, to all of India’s villages and homes. However, by then, almost all of India’s villages (97%) already had an electricity connection, according to data from the Central Electricity Authority (CEA). This left the BJP-led National Democratic […]
Category: Power
Power
NTPC Badarpur power plant site to become eco park
New Delhi: Citizens of the national capital will be able to enjoy wildlife safari from some time in 2021 as the government gets down to convert the site of the NTPC’s defunct Badarpur power plant into an eco park. The makeover will cost the exchequer ₹343 crore. Minister of state (independent charge) in the Ministry […]
Decide on JSW Steel’s Bhushan Power bid by 31 March, NCLAT tells NCLT
New Delhi: The National Company Law Appellate Tribunal (NCLAT) Friday directed the Delhi bench of the National Company Law Tribunal (NCLT) to decide on JSW Steel Ltd’s bid for the debt-ridden Bhushan Power and Steel Ltd by 31 March. A two-member NCLAT bench, headed by chairman justice S.J. Mukhopadhaya, has also directed NCLT Delhi to […]
Govt clears ₹31K crore for power projects, approves policy on hydro power
NEW DELHI: The government has cleared investment of around ₹31,560 crore in four power projects of total 3,760 MW generation capacity and approved two policies to boost hydro power as well as revive stressed assets in the sector, Union Power Minister R K Singh said Thursday. However, Singh admitted that two recommendations of a high […]
Cabinet clears plan to revive stressed thermal plants, build new units
New Delhi: The Cabinet on Thursday approved a plan to revive some of the stressed thermal power plants and set up new coal-fired power plants to curb power deficit, finance minister Arun Jaitley said. Power projects of 1,320-megawatts capacity would be set up in Bihar and northern part of Uttar Pradesh, he said. While the […]
Cabinet offers relief to struggling power firms
NEW DELHI: New Delhi: The union cabinet has allowed power producers, saddled with ₹36,000 crore of unpaid dues, to end supply contracts with defaulting power distribution companies (discoms), as Prime Minister Narendra Modi’s government, in possibly its last cabinet meeting, addressed a pressing concern for the industry. On Thursday, the Cabinet Committee on Economic Affairs […]
Continuing financial logjam at discoms casts a shadow on electricity producers
While the government may have succeeded in improving the availability of electricity in India, the lack of focus on other areas, such as distribution losses and timely payments, can delay the revival of the power sector. The aggregate technical and commercial losses (AT&C), which reflects transmission and collection efficiency, stood at 19.72% of electricity purchases, […]
Banks risk adding $25 billion in power sector NPAs on Supreme Court decision
Mumbai: A year after the Reserve Bank of India (RBI) tightened the screws on companies delaying debt payments, the Supreme Court is poised to begin hearing arguments on whether the banking regulator’s diktat applies across industries. Hanging in the balance is the fate of more than $25 billion of loans to power producers. They are […]
ICICI-Videocon case: MCA finds violations by Deepak Kochhar, Venugopal Dhoot
Mumbai: The ministry of corporate affairs (MCA) has discovered at least 25 violations of the Companies Act by NuPower Renewables Ltd and Videocon Industries Ltd, the companies at the heart of the controversial ICICI Bank-Videocon loan case, two people aware of the matter said. The report prepared by MCA’s Mumbai regional director will be submitted […]
Power projects in Uttar Pradesh, Bihar may get govt nod ahead of Elections 2019
New Delhi: The Union cabinet may soon consider a proposal to set up two coal-based power plants of 1,320 megawatts (MW) each in Bihar and Uttar Pradesh with an investment of around ₹21,000 crore. The two projects have been expedited amid a political push to clear projects before elections, due in April-May. The Bihar and […]
Banks risk adding $25 billion bad debt on Supreme Court decision
A year after India’s central bank tightened the screws on companies delaying debt payments, the nation’s Supreme Court is poised to begin hearing arguments on whether the regulator’s diktat applies across industries. Hanging in the balance is the fate of more than $25 billion of loans to power producers. They are among parties contesting the […]
Crisil slashes India’s renewable energy target
India will achieve installed solar power capacity of 70GW by March 2023, ratings company Crisil said, lowering its July estimate of 79GW. The government set a target of 100GW of solar capacity by 2022, against the existing 22GW. The target is growing more distant and the shortfall by which India will miss it is growing […]