The power demand in India has started to pick up as the Modi government gradually eased restrictions on economic activity, however, the current level of electricity usage is still much below the normal levels. Power demand in May fell 14.16 per cent to 103.02 billion units (BU) compared to 120.02 BU a year ago, though […]
Category: Power
Power
Punjab, UP among 5 states to evince interest for loans under Rs 90K cr liquidity package for discoms
Punjab, Uttar Pradesh, Rajasthan, Manipur and Karnataka have evinced interest for taking loan under the Rs 90,000-crore liquidity package for discoms to pay their utilities’ outstanding towards gencos, a senior official said on Monday. Finance Minister Nirmala Sitharaman had on May 13 announced Rs 90,000-crore liquidity infusion into cash-strapped power distribution companies (discoms), facing demand […]
Adani Mundra: Gujarat cites ‘data gaps’ for delay in calculating compensation
State-owned discom Gujarat Urja Vikas Nigam (GUVNL) said it needs more time to ascertain the compensation to be paid to Adani Power’s Mundra plant as it feels there are ‘data gaps’ between the cost of imported Indonesian coal claimed by the company and actual prices. GUVNL’s lawyer’s said the company is claiming the fuel cost […]
PFC plans to tap RBI borrowing as new low-cost funding source
As a measure to widen the sources of low-cost funding, state-run Power Finance Corporation (PFC) is planning to tap new avenues, including borrowing from the RBI and the retail market. “We urgently need to increase our share of 54EC capital gain tax bonds, open up new avenues like a borrowing facility from RBI and also […]
UP’s economic activity returning to normalcy; here’s what industrial power demand data shows
Economic activity in Uttar Pradesh state may be gradually returning to normalcy as the data shows that industrial power consumption in the state has rebounded closer to the pre-pandemic levels. After two successive months of depressed economic activity, industrial power consumption in UP, this week, crossed 90 per cent of the average consumption recorded in […]
UPPCL seeks state guarantee for 21,000-crore PFC-REC loan
The Uttar Pradesh Power Corporation has sought state government guarantees for loans of nearly Rs 21,000 crore to be borrowed from PFC-REC for payment of outstanding dues of central generating stations (CGS), independent power producers (IPPs) and renewable energy (RE) generators. It has also sought subsidy support for debt servicing of this loan. An action […]
New PPA after 5 years: Madhya Pradesh approves pact with Adani Power
After a hiatus of five years, a new long-term power purchase agreement (PPA) for thermal power has been finalised, with the regulator of Madhya Pradhesh approving the 25-year contract signed between Pench Thermal Energy (MP), a unit of Adani Power, and MP Power Management Company (MPMCL), the state electricity board. According to sources, Adani Power […]
UPPCL seeks state guarantee for 21,000-crore PFC-REC loan
The Uttar Pradesh Power Corporation has sought state government guarantees for loans of nearly Rs 21,000 crore to be borrowed from PFC-REC for payment of outstanding dues of central generating stations (CGS), independent power producers (IPPs) and renewable energy (RE) generators. It has also sought subsidy support for debt servicing of this loan. An action […]
Power ministry seeks Rs 3 lakh crore from finance commission for new scheme
Union power minister RK Singh has requested the finance commission for Rs 3-lakh-crore support over a five-year period for the new power sector scheme that will be implemented to reform the sector, the government said. This new scheme, which will amalgamate the existing ones, would focus on steps to reduce losses of discoms, separate feeders […]
Consumers at the centre of PM Modi’s power sector review; no ‘one-size-fits-all’ solution for states’ woes
Prime Minister Narendra Modi today said that the power and new and renewable ministries should come up with state-specific measures to improve the condition of electricity in different states. Reviewing the power sector, Narendra Modi added that there is a need to enhance consumer satisfaction while increasing operational efficiency and improving the financial sustainability of […]
‘One Sun One World One Grid’: India initiates talks on West to SE Asia solar grid
India has come up with a ‘One Sun One World One Grid’ (OSOWOG) initiative to set up a framework for facilitating global cooperation in this regard aiming at building a global ecosystem of interconnected renewable energy resources that can be seamlessly shared. The Union Ministry of New and Renewable energy (MNRE), through this initiative, plans […]
NTPC keen to buy Reliance Infra’s Delhi discoms
State-run power producer NTPC wants to acquire a majority stake in BSES Yamuna (BYPL) and BSES Rajdhani (BRPL), the subsidiaries of Reliance Infrastructure that supply electricity in south, west, east and central Delhi. “It is submitted that NTPC is keen to explore the opportunities for acquiring 51% stake in BRPL and BYPL, which are on […]