Tube Investments of India (TII), the over Rs 38,000-crore Murugappa Group company, is seeking shareholders’ approval for a total amount of Rs 1,760 crore to be used for giving loans, investing in securities or giving guarantee to the borrowings of CG Power and Industrial Solutions, the company TII is in the process of acquiring and […]
Category: Power
Power
Cashing in: Centre asks CPSEs to use reserves to pay dividends
Hard-pressed for funds, the Centre has asked the companies owed by it to desist from offering just mandatory ‘minimum dividend’ to it, and dip into even their accumulated reserves to boost the payout this fiscal. The directive has come at a time when their profits have plunged and the cash balances have shrunk due to […]
Discoms liquidity infusion: Tamil Nadu tops chart of states with Rs 30K cr sanctioned loan
Tamil Nadu has topped the chart in terms of loans being sanctioned for state power distribution companies (discoms) under the Rs 1.2 lakh crore liquidity infusion scheme, with the state’s share of credit standing at Rs 30,230 crore. The southern state is followed by Uttar Pradesh and Maharashtra, with their state discoms being sanctioned loans […]
Power reforms: UK lessons for India
The power sector in the UK has almost come a full circle. After living with vertically integrated utilities till 1989, they unbundled, created markets both at generation and retail end, and today, they are back to a situation where 70% of the power generated is sold outside the wholesale market, directly by the generators to […]
Suzlon Energy reports Rs 670 cr net profit in September quarter
Suzlon Energy has posted a consolidated net profit of around Rs 670 crore in the September quarter mainly due to lower expenses. The company had recorded a consolidated net loss of over Rs 777 crore in the quarter ended on September 30, 2019, showed a BSE filing at midnight on Tuesday. Total income of the […]
Government versus regulatory: The Centre must maintain the balance of power
We are well-versed of the fact that power is a Concurrent subject under the Constitution. The Electricity Act of 2003 clearly defines the functions of the government and the regulators under the various statutes of the legislation. Under the Act, all state-specific rules and reforms have to be undertaken by the state electricity regulatory commissions […]
Tata Power Q2 net up 10 pc to Rs 371 cr
Tata Power on Tuesday posted a 10 per cent increase in consolidated net profit at Rs 371 crore for the quarter ended September 2020. “Consolidated PAT stood at Rs 371 crore (in July-September 2020) up by 10 per cent as compared to Rs 339 crore in Q2 FY20 due to stable performance across businesses,” a […]
All discoms to come under Energy Conservation Act: Power ministry
The power ministry on Monday said it has mandated all electricity distribution utilities or discoms to comply with the Energy Conservation (EC) Act, 2001, which would reduce energy losses and bring in more transparency in the sector. Earlier, only discoms with annual energy losses equal to or above 1,000 MU (million units), notified as designated […]
Stable regulatory framework important for Indian renewable energy: Patrick Charignon, V-P APAC, EDF Renewables
Eden Renewables, a 50:50 joint-venture between EDF Renewables and Total-Eren, has recently participated in Indian solar auctions, where record low tariffs were discovered. Patrick Charignon, Asia-Pacific vice-president of Paris-based EDF Renewables, tells FE’s Anupam Chatterjee why the global utility thinks that India is a good investment destination for renewable energy, and what can be done […]
Outstanding dues from power companies pose challenge to announce high interim dividend: Coal India sources
The cash flow problem arising out of the outstanding dues from state-owned power generation companies poses a challenge to Coal India Ltd as its management is deliberating on an interim dividend, company sources said on Sunday. Top officials of the coal behemoth will meet on Monday before the November 11 board meeting to consider how […]
ZunRoof: Driving solar energy market with IoT
Gurgaon-based ZunRoof operates in two growing business segments— solar energy and IoT devices for homes. While there are startups working to bring togetjer solar energy and IoT for commercial purposes, the residential market has very few players due to the unit economics in play. “Home systems, while small, are many in number. With software innovation, […]
Data monitor: Discoms’ total outstanding scales new high
Discoms’ pending dues to gencos rose 48% yoy (4% mom) to Rs 1.27 trn in Sep’20. The total outstanding amount was Rs 1.39 trn (up 28% yoy/3% mom) – breaching the Nov’15 peak of Rs 1.35 trn. The central government has extended the liquidity package under the Atmanirbhar scheme to Rs 1.2 trn. To date, […]