Power plants which are taking no actions to install equipment to reduce emissions should face punitive action from the government, environment experts said. A report released by the Centre for Science and Environment (CSE) on Thursday suggested that the government should come up with a mechanism which would incentivise the power plants that invest in […]
Category: The Financial Express
The Financial Express
ONGC, NTPC sign MOU to set up joint venture for renewable energy business
India’s top oil and gas producer ONGC and country’s biggest electricity generator NTPC have signed a preliminary agreement to set up a joint venture company for renewable energy projects. Oil and Natural Gas Corp (ONGC) and NTPC Ltd “entered into a memorandum of understanding (MoU) on May 21, 2020 in New Delhi to formalize this […]
Lowest solar tariff project seeks PPA termination
Acme Solar has unilaterally terminated the power purchase agreements (PPAs) signed with the Solar Energy Corporation of India (SECI) for solar projects scheduled to sell electricity at Rs 2.44/unit — the lowest-ever solar tariff discovered. The company said that the PPA was being cancelled because of force majeure events such as the impact of the […]
PFC-REC to clear genco dues directly from discom loans
Power sector lenders PFC and REC will use the Rs 90,000-crore loan amount allotted to state-run power distribution companies (discoms) to directly pay power generators (gencos) which owe money from these entities. “The payment shall be released directly to CPSU gencos /RE rencos/IPPs/ CPSU transcos based on authorisation of discoms in this regard,” policy notes […]
Govt approves methodology for commercial mining, sale of coal on revenue sharing basis
The government on Wednesday approved a methodology for commercial mining of coal on revenue sharing basis. The decision was taken during the meeting of the Cabinet Committee on Economic Affairs (CCEA) under the chairmanship of Prime Minister Narendra Modi. The CCEA “has approved the methodology for auction of coal and lignite mines/blocks for sale of […]
Govt’s Rs 90,000 cr liquidity infusion breather for power generating companies: Crisil Ratings
The government’s Rs 90,000 crore liquidity infusion into cash-starved power distribution firms is a breather for generating companies and the move will help 9.4 GW private thermal coal capacities from defaulting post moratorium, CRISIL Ratings said on Wednesday. The move would help clear a chunk of discoms’ obligations to generation companies (gencos), it said in […]
Power shock: UDAY scheme fared even worse?
The UDAY scheme could have had even lesser efficacy than claimed by the government in nursing the stressed electricity discoms back to health. Though data put out by the states and compiled by the Union power ministry showed a reduction in the combined financial losses of discoms from Rs 51,562 crore in FY16 to Rs […]
Centre goes for revenue-share model for coal auction
Indicating its readiness to forego a large part of its revenue from coal mining if it results in a jump in the country’s coal production, the government on Wednesday approved a new market-determined revenue share model for auctioning off coal assets, ending the fixed fee/tonne regime that turned off private investors, even as the sector […]
India adds 1,043 MW of wind and solar utility scale capacity in January-March: Report
India added about 715 mega watt (MW) of utility scale solar capacity in January-March 2020, down 67 per cent from 2163 MW during the same period last year, a report said. According to clean energy consultancy Bridge To India, the country added 328 MW of utility scale wind capacity in the quarter ended March, which […]
April coal output falls 16.5% to 46.5 MT
Coal production in the country fell 16.5% year-on-year (y-o-y) to 46.5 million tonn (MT) in April with output from Coal India (CIL) falling 11%, SCCL by 46% and captive production dropping 37% annually to 40.4 MT, 3 MT and 3.1 MT respectively, as power plants did not lift the fuel from the mines in the […]
Tata Power posts over two-fold jump in Q4 net to Rs 475 crore
Tata Power on Tuesday posted a two-fold jump in its consolidated net profit to Rs 475 crore in the January-March quarter compared to the year-ago period. The company’s consolidated net profit was Rs 172 crore in the quarter ended on March 31, 2019, a company statement said.
Coal-fired power PLF touch all-time low of 42% in April
The utilisation level of coal-based power plants touched an all-time low in April, with their average plant load factor (PLF) standing at 41.9%, down from 63.1% in April 2019, amid falling electricity usage during the lockdown. PLF of private thermal power plants fell to 44% last month, nearly 14 percentage points lower than April 2019. […]