The government has approved a Rs 14,000-crore special economic zone (SEZ) project of Adani Power in Jharkhand, which will export entire power generated to Bangladesh, an official said. The project was approved by highest decision making body on SEZ – Board of Approval – chaired by the commerce secretary, in its meeting on February 25, […]
Category: Power
Power
ICICI Bank-Videocon case: ED grills Kochhars, Venugopal Dhoot
Beleaguered banker Chanda Kochhar and her husband Deepak Kochhar were grilled by the Enforcement Directorate for the second consecutive day in Mumbai under the ICICI Bank-Videocon Prevention of Money Laundering Act (PMLA) case, the Indian Express reported. The law enforcement agency also separately questioned Videocon’s Chairman Venugopal Dhoot. Kochhar and her husband had appeared before […]
Green energy: Solar power accounts for 50% capacity addition in 2018
Solar power for the first time in India made over 50% power capacity addition in 2018 although GST, safeguard duty, and land and transmission issues took a toll on large-scale power installation to whose effect the overall Indian solar market was down 15.5% in FY18, according to Mercom India Research’s newly published report. The Indian […]
GE T&D India Rating:Add; Strong order intake came as a surprise
GE T&D witnessed strong order intake growth of 84% y-o-y to `14.4 bn in Q3FY19, with `5-bn order wins to date during Q4FY19, thus bucking the overall declining order intake trend during H1FY19. Current orderbook at `64 bn (1.5 x TTM sales) provides growth visibility and despite slowdown in Power Grid demand, the company was […]
Maintain ‘buy’ on IEX, target price of Rs 204 – Axis Capital
IEX’ 9M electricity volume grew 20% as demand by discoms continues to be strong (led by electrification, elections etc.); transaction revenue (90% of top line) grew 17% YoY. Power exchange in India to benefit from: (1) nascent stage (4% of generation); (2) favourable policy measures by regulator (linking DSM prices to power exchange; (3) discoms […]
Solar capacity slows down; new solar addition falls 15.5% in 2018
Solar capacity addition in India last year came down by 15.5 per cent to 8,263 MW as compared to 2017 due to safeguard duty and issues related to GST and transmission, a report said. The year 2017 saw new solar installations of 9,782 MW. According to the report by Mercom India Research, the safeguard duty […]
States seek Centre’s funds to meet environmental norms for thermal power plants
To meet the additional expenditure required to adhere to the environmental norms for thermal power plants, the states have sought access to the Centre-operated Power System Development Fund and the National Clean Energy Fund. According to sources, many states have demanded that the capital expenditure on this account should be passed on as grants and […]
SBICap Ventures’ Neev Fund to invest $5 million in renewable energy firm Prespl
SBICap Ventures’ Neev Fund is set to infuse about $5 million in renewable energy firm Punjab Renewable Energy Systems (Prespl) to acquire a significant minority stake in what would be the Series-B funding round. Prespl has also commitments of an additional $3-5 million funding in the same Series-B round from a different investor. Prespl, which […]
India will have to wait for world’s cheapest wind power as delays hit projects
India has drawn global attention since it started awarding wind power projects at record-low tariffs, spurring optimism that renewable energy could supplant the nation’s abundant coal resources in electricity generation. But about half of the more than one gigawatt of capacity awarded in the country’s first auctions in 2017 are incomplete, almost five months after […]
SEB turnaround aided by not paying gencos Rs 1.4 lakh crore
The latest sets of data from the power ministry suggest that the sector has witnessed a smart turnaround, mostly because of the UDAY scheme introduced a few years ago. According to the ministry, the UDAY states have managed to cut their financial losses by a whopping 70%, from Rs 51,480 crore in FY16 to Rs […]
Modi government makes it clear to states: Expect 24×7 power supply to all households by April
The central government expects the states to make sure that all households get 24×7 power supply by April this year, barring those in the agricultural region, Power Minister RK Singh said. Since ‘metering is inadequate’ and there is ‘need to conserve ground water’, these states would be exempt from providing uninterrupted electricity to the agricultural […]
Powering down! In first half of FY19, discoms report financial loss of over Rs 15,000 crore
State-run electricity distribution companies (discoms) reported financial losses of over Rs 15,000 crore in the first half of this fiscal — as much as the losses incurred by them during the whole of last year (see chart) — signalling a reversal of a declining trend since the UDAY scheme for these entities’ revival was launched […]