BENGALURU: Wind power producers may soon get a breather from the stand-off over land allotment in Gujarat with the state finally planning to help centrally auctioned projects. The state’s revenue department has directed district collectors to help such projects. Gujarat was earlier helping developers to acquire land only for projects bid out by the state’s […]
Category: Power
Power
Tariff order may hit sale of stressed power assets
NEW DELHI: Lenders’ rush to complete the resolution of a few stressed power plants by March-end may run into a rough patch as the electricity regulator has sought lower tariff from projects being bought at very low valuations. The Uttar Pradesh Electricity Regulatory Commission (UPERC) has set the precedent that will benefit power consumers but […]
MEIL bags Limca record for faster completion of power project
Infrastructure firm Megha Engineering and Infrastructures (MEIL) has secured a place in ‘Limca Book of National Records’ by completing a complex power substation project in incompatible weather conditions in nearly half the stipulated timeframe. The 400/220KV power substation for Power Grid CorporationNSE 2.86 % was built in a record time of seven months, which is […]
Cabinet clears Rs 33,500-crore power projects
NEW DELHI: The Cabinet on Thursday gave the green light to power projects worth Rs 33,500 crore and breathed fresh life into stressed projects by facilitating coal supply to the fuel-starved plants. The flurry of decisions in the run-up to the general elections include a new mechanism to speed up strategic disinvestment, giving a boost […]
Cabinet approves GoM’s recommendations on stressed power plants
The Union Cabinet Thursday approved recommendations of a group of ministers (GoM) relating to stressed power projects including grant of coal linkage for short-term power purchase agreements (PPAs). The decision was taken by Cabinet Committee on Economic Affairs (CCEA). Briefing reporters, Finance Minister Arun Jaitley said the recommendations approved include grant of coal linkage for […]
Solar power generation 5.8 per cent costlier with GST: Report
NEW DELHI: The introduction of Goods and Services Tax (GST) has led to an increase in the cost of solar photovoltaic (PV) power generation by almost 6 per cent, an independent study by the Council on Energy, Environment and Water (CEEW) and the International Institute for Sustainable Development (IISD) said on Thursday. At the same […]
Power Minister rules out mega consolidation of power sector PSUs
NEW DELHI: Power Minister R K Singh on Thursday ruled out consolidating all state-owned power sector firms like NTPC, NHPC, SJVNL and PFC into a single entity, saying it would be the biggest company of the world but will not be manageable. However, the minister said discussions are on regarding merger of some companies under […]
PFC to fund REC deal without flouting CAR norms: Rajeev Sharma
NEW DELHI: Power Finance Corp (PFCNSE -1.48 %) will fund the acquisition of REC Ltd majorly through its internal accruals and expects to receive sanctions from about four state-run banks for up to Rs 6,000 crore in a week. The company is confident of financing the Rs 14,000-crore deal without breaching capital adequacy norms and […]
NHPC pays Rs 527 crore dividend to govt
New Delhi: State-run hydro power giant NHPCNSE 5.23 % Wednesday paid an interim dividend of Rs 526.53 crore to the central government for 2018-19. The dividend payout bank advice was presented to Power Minister R K Singh by NHPC Chairman and Managing Director Balraj Joshi on Wednesday, a company statement said. The board of directors […]
Suzlon Energy, Lakshmi Vilas Bank among top losers on BSE
NEW DELHI: The domestic equity benchmark BSE Sensex was trading 61.21 points up at 36,697.31 on account of buying in frontline bluechip counters. Shares of Rajnish Wellness (down 11.26 per cent), Valson Industries (down 10.81 per cent), Suzlon EnergyNSE -8.86 % (down 10.79 per cent), Sacheta Metals (down 9.95 per cent), Kaarya Facilities and Services […]
No bids for Gujarat solar auction due to low tariff
In a setback for Gujarat’s renewable energy drive, its latest solar auction of 1000 MW got no bids at all because developers felt the ceiling tariff it had set was too low. Tuesday was the last day for submitting techno-commercial bids for the 1000 MW auction, for projects to be set up at the state’s […]
ReNew Power, Exim Bank tap dollar funds
Mumbai: Easy global liquidity, benign interest rates and a stable rupee have overshadowed Indo-Pak tension as overseas investors continue to latch on to dollarNSE 3.03 % debt from the country. Two more Indian companies, wind and solar energy company ReNew Power and trade financier Exim Bank, were in the market to together raise $900 million […]