Category: Power

The power distribution companies in the national capital saved 258 megawatt (MW) of electricity during sixty minutes of the Earth Hour observed on Saturday night. Government and private institutions as well as people kept their electric appliances switched off during the Earth Hour observed from 8.30 pm to 9.30 pm. The two BSES discoms managed […]

In an order that will have implications for the debt-ridden power sector in the country, the Uttar Pradesh energy regulator UPERC has asked Renascent Power Ventures, an arm of Tata Power-backed Resurgent Power Ventures, which had acquired 75% in the Prayagraj Power Generation Company (PPGCL), to offer a discount of 14 paise/unit on the fixed […]

Trading in renewable energy certificates (RECs) witnessed a 4% year-on-year decline this year, with the India Energy Exchange (IEX) cumulatively trading 89,55,572 RECs this year against last year’s 93,29,253. The decline in trade was mainly due to lower REC inventory, which kept lower supplies of renewable energy to the grid. REC inventory are those renewable […]

Despite the safeguard duty imposed on imports from China, Malaysia and the West, effective July 2018, solar panel prices continued to fall in the domestic market, as a 25% year-on-year fall in global prices has more than offset the duty impact. Though demand for the panels could look up in 2019, with a sharp cut […]

State-owned Power Finance Corporation (PFC) on Thursday completed the acquisition of majority stake in REC Ltd by transferring Rs 14,500 crore to the government, an official said. The transaction has helped the government meet its disinvestment target of Rs 80,000 crore for the current financial year. “The entire consideration of Rs 14,500 crore for acquiring […]

State-run Power Finance Corporation (PFC) would become more stringent in evaluating the creditworthiness of state-owned power distribution companies (discoms) as the sector-specific lender would now have to become more cautious about maintaining its capital levels after the Rs 14,500 crore takeover of the Union government’s stake in REC. “We would now be monitoring the payment […]

Luminous Power Technologies, traditionally known for its power back-up systems, is now focusing more on residential rooftop solutions business. The company, now a unit of Schneider Electric, also provides other electrical offerings such as fans, LED lighting, switches and wires. Sachin Bhalla, senior vice-president, marketing, shared the company’s vision on this business segment. Excerpts from […]

State-owned Power Finance Corporation (PFC) on Thursday will make the entire payment of Rs 14,500 crore to the government for acquiring 52.63 per cent stake in REC, a source said. The deal would help the government meet its disinvestment target of Rs 80,000 crore for the current financial year ending on March 31. “The entire […]

If India’s power sector has seen a spate of loan defaults and insolvencies in recent years on ambitious demand projections going awry, the current financial year has witnessed the lowest rate of addition in net generation capacity in at least the past two decades (see chart). According to data reviewed by FE, the capacity addition […]

Power Finance Corporation (PFC) on Friday said its board of directors will meet on March 27 to consider a proposal for market borrowing for FY20 through bonds, term-loans from banks and commercial papers from domestic and international markets. The funds will be raised from time to time during the fiscal, the company said in a […]

The Power Finance Corporation (PFC) plans to pay Rs 14,500 crore to the Government of India on March 28 to close the takeover of the majority stake in REC. The power sector-lender would buy REC’s 103.94 crore equity shares at a Rs 139.5 per share —or 1.1% lower than the latter’s closing price on Friday. […]

State-owned Power Finance Corporation Wednesday said it will acquire the entire 52.63 per cent shares of the government in REC for Rs 14,500 crore by the month-end, a move that will help the centre to meet its disinvestment target. Earlier in December 2018, the Cabinet Committee on Economic Affairs had given in-principle approval for acquisition […]