New Delhi: The power generating companies (gencos) may gain from new payment security mechanism but its compliance would hurt discoms, consumer and states, said CRISIL Research in a report. The Union power ministry has made it mandatory for discoms to open and maintain sufficient letters of credit (LC) as a payment-security mechanism under power purchase […]
Category: Power
Power
GST Council meet to decide on slashing tax rate for e-vehicles postponed
New Delhi: The meeting of the GST Council on Thursday, which was to decide on cutting tax rates on electric vehicles, has been postponed as Finance Minister Nirmala Sitharaman was pre-occupied in Parliament, officials said. The 36th GST Council meeting, which was to be held through video conferencing, had only one item in the agenda […]
Not backing out from buying Bhushan Power: JSW tells NCLT
New Delhi: JSW Steel on Monday told the National Company Law Tribunal that the company is not backing out from the ongoing resolution process of Bhushan Power & Steel despite reports of alleged fraud by its former promoters. During the proceedings in NCLT, counsel appearing for JSW Steel informed the tribunal that it was anxious […]
EverSource Capital to invest $1 billion in India’s renewable energy sector
umbai: EverSource Capital, the joint venture between private equity firm Everstone Capital and global solar project developer Lightsource BP, is looking to invest over $1 billion in renewable energy investments through its Green Growth Equity Fund, said a senior company executive.The National Investments and Infrastructure Fund (NIIF) of India and the UK government are anchor […]
Maha state to get 1L solar pumps in phase 2
Mumbai: The chief minister’s solar agriculture pump scheme is in demand all over the state. In the first phase, Maharashtra State Electric Distribution Company Limited (MSEDCL) is in the concluding process for installation of 25,000 solar pumps. Because of huge response, more than one lakh solar pumps will be installed throughout the state in the […]
Mumbai: Cities choose monopole over electric towers
Mumbai: In order to overcome space crunch issues faced by electric towers, Maharashtra State Electricity Transmission Company Limited (MAHATransco) has come up with monopole. The process of removing electric tower and placing monopole is a costly affair. However, cities, city-centric big projects and big developers have been opting for it due to its aesthetics. “Big […]
Govt to set ball rolling for 1 GW solar power in NE
Kolkata: Hills and mountains are the new corridors of power, it seems. Close on the heels of firming up 7,500 MW of grid-connected solar power projects in J&K’s Leh and Kargil districts, the Solar Energy Corporation of India Ltd. (SECI) is well set to issue a tender for 1,000 MW solar photovoltaic (PV) capacity to […]