NTPC’s overall Q3FY21 performance is in line with our expectations. Highlights: Liquidation of overdue receivables by 15% to Rs157 billion is a key positive; it is likely to reduce to Rs80 billion by March-21. The company continues to progress well on renewable diversification (won 1.2GW in last three months). The CWIP ratio is down to […]
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In pictures: Six Hydropower projects wrecked by flash floods in Uttarakhand
A portion of the Nanda Devi glacier broke off in Uttarakhand’s Chamoli district on Sunday, triggering an avalanche and a deluge in the Alaknanda river system. The disster washed away hydroelectric stations, leaving at least 14 people dead, and over 150 missing. Local reports suggested workers of the NTPC-owned Tapovan Vishnugad hydropower plant were stuck […]
India to have 17 Rafale jets by March; entire fleet by 2022: Rajnath Singh
India will have 17 Rafale jets by March this year and the entire fleet of the fighter aircraft bought by the country will reach by April 2022. In 2016, India had signed an inter-governmental agreement with France to procure 36-Rafale Jet aircrafts at a cost Rs 59,000 crore. “I want to inform that till 11 […]
New Bill: Easy access to power distribution business proposed
A new Bill to amend the Electricity Act tabled in Parliament proposes to usher in the long-elusive competition in power distribution business. To provide more choices to consumers and bring higher efficiency in the sector, the Bill seeks to de-license the power distribution business and allow any entity to run distribution companies (discoms) anywhere in […]
Coastal Gujarat Power merger with Tata Power by February-end
Coastal Gujarat Power (CGPL), the wholly owned subsidiary of Tata Power, turned cash-positive in the October-December quarter of 2020 after fuel under recovery reduced further to Rs 0.32 per unit from Rs 0.40 per unit a year ago on lower imported coal prices. Going forward, the merger of CGPL with Tata Power expected by February-end […]
Moody’s upgrades power sector outlook from negative to stable
Moody’s Investors Service has upgraded the outlook for the Indian power sector from ‘negative’ to ‘stable’ as the country recorded the fifth consecutive month of power generation growth (on a year-on-year basis) in January, after six months of decline driven by coronavirus pandemic. In the first ten months of FY21, power generation growth declined 2.9% […]
Commercial coal mining: Lower risks to investors in second round of auction
While the first round of auction under the new commercial coal mining policy in November last year elicited only modest response, the government has re-packaged the blocks on offer under the second round by minimising the risks to potential investors. The Union coal ministry is planning to offer 64 new mines, with reserves of 30,505 […]
ONGC to usher in India’s first geothermal energy at Ladakh
State-owned Oil and Natural Gas Corporation (ONGC) on Monday said it will implement India’s maiden geothermal field development project in Ladakh that will use the heat generated by the Earth’s core to generate clean energy. “A memorandum of understanding (MoU) to formalise this has been inked by ONGC Energy Centre (OEC) with the Union Territory […]
Power demand remains higher in 1st week, crosses record peak of Feb’20
India’s peak power demand met or the highest supply in a day has remained higher in the first week of February till Friday and surpassed the record high supply of 176.38 GW for February last year, indicating robust growth in electricity consumption in the country. According to the power ministry data, peak power demand met […]
Oil will return to a starring role in India
Oil will return to a starring role in India. The car-centric society is set to see oil demand bounce back strongly in 2021 helped by fiscal stimulus as it leaves Covid-19 in its rear-view mirror. Any shift away from the fossil fuel towards cleaner energy will be slow going. Oil’s importance to India’s needs is […]
After pandemic-hit 2020, Delhi sees rise in power demand in new year
Electricity demand in Delhi is picking up in the new year, recovering from the coronavirus pandemic-hit 2020, with January registering 19 per cent more peaks on 23 days than that in the last year, officials of power distribution companies said on Monday.
BHEL reports Rs 217 cr loss in December quarter
State-run engineering firm BHEL on Saturday reported a consolidated net loss of Rs 217.86 crore for the October-December quarter due to lower revenues. The consolidated net profit of the firm was Rs 161.81 crore in the quarter ended on December 31, 2019, a BSE filing stated. Total income of the company dipped to Rs 4,532.39 […]