NEW DELHI: Shares of GVK Power & Infrastructure surged nearly 10 per cent on Monday morning. Last Thursday, the company had agreed to offer 49 per cent stake in GVK Airport Holdings to Abu Dhabi Investment Authority (ADIA) and the National Investment and Infrastructure Fund (NIIF). The scrip rose nearly 10 per cent to hit […]
Category: Power
Power
Several wind energy projects in slow lane since 2017 auctions
BENGALURU: A large number of wind energy projects have been bid out since auctions for such projects began in early 2017, both by Solar Corporation of India (SECI) and state agencies, but only a small fraction of them have been commissioned so far. Out of the 500 mw of wind capacity bid out by Tamil […]
India still not power-surplus nation; peak deficit at 0.8%, energy deficit at 0.6% in 2018-19
NEW DELHI: India has again missed the target of becoming an electricity-surplus nation by a whisker as its peak power deficit stood at 0.8 per cent and the overall energy deficit remained 0.6 per cent in 2018-19. In its load generation balancing report (LGBR) for 2018-19, the Central Electricity Authority (CEA) had pegged overall energy […]
Hero arm, Azure Power to raise $1 bn from bond sale
New Delhi | Bengaluru: Hero Group’s renewable energy arm and NYSE-listed Azure Power are gearing up to raise $1 billion by selling bonds to overseas investors over the next few weeks in separate offerings, according to people briefed on the matter. The Delhi-based green power rivals are looking to mop up $500 million each and […]
SECI’s 1200 MW wind auction gets tepid response
BENGALURU: Wind energy developers were surprisingly lukewarm to the auction of 1,200 MW of projects offered by the Solar Energy Corporation of India (SECI), with techno-commercial bids of only half the capacity on offer. SECI confirmed the development. Most SECI auctions are usually oversubscribed. Its last wind auction of 1200 MW in mid-February, for instance, […]
Power companies challenge GST on green certificates
Are renewable energy certificates, bought by power companies, goods or services? Neither. And so, must be out of the indirect tax ambit, according to power companies which have suffered higher costs because of the Goods and Services Tax (GST). The power companies that buy these certificates to comply with the environmental norms challenged the levy […]
Telangana to add 1,000 MW solar power capacity in 6-8 months: Official
Hyderabad: Telangana will add another 1,000 MW of solar energy capacity in next six to eight months taking the total installed capacity to over 4,500 MW in solar power segment, a senior official said Wednesday. Telangana stands at second position with a generation capacity of over 3,500 MW commissioned through solar energy. Another 1,000 MW […]
The $18-billion electric car bubble is in danger of bursting in China
BEIJING: An iPhone assembler, ecommerce emporium and real-estate developer typically don’t compete in the same business — except when it comes to electric vehicles in China. That’s because of a seismic shift toward EVs, which has spurred billions of dollars in investments by traditional carmakers, startups and titans of the internet, electronics and real-estate industries. […]
Tata Projects bullish on oil, gas, nuclear segments, eyes Rs 16,000 cr topline this year
MUMBAI: Riding high on the pace of growth in the oilNSE 0.08 % and gas, nuclear and urban infrastructure sectors, Tata Projects, a part of the diversified Tata Group, is eyeing up to Rs 16,000 crore worth of revenue this fiscal. The company, one of fastest growing infrastructure companies in the country with an order […]
Five power producers prepare to oppose insolvency proceedings
Five major stressed power producers are preparing to oppose insolvency proceedings on the grounds that lenders filed petitions against them as per a central bank circular on debt resolution that was recently quashed by the apex court, people familiar with the plans said. The five power projects of Lanco Amarkantak, Avantha Power, KSK Mahanadi, Rattan […]
India’s weak power demand points to more slowdown
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 […]
CERC approves fuel cost pass through for Adani Power’s Mundra plant
The Central Electricity Regulatory Commission (CERC) has allowed Adani PowerNSE -0.27 %’s Mundra power plant in Gujarat to pass through imported coal cost to power consumers. CERC in its order issued on Friday said, “It has not been disputed by any stakeholder, including consumer groups, that even with full pass through of the fuel prices, […]