Even as the March-end 2019 deadline for meeting the operational targets set under the Ujwal Discom Assurance Yojana (UDAY) is approaching, the aggregate technical and commercial (AT&C) losses —electricity units lost on account of pilferage — of the 27 electricity distribution companies (discoms) in 26 states and UTs remained as high as 21.1% at the […]
Category: Power
Power
Anil Ambani eyes Rs 2,500 crore from RPower stake sale; PE giants Blackstone, TPG, KKR may be in fray
Sovereign wealth funds of Qatar and Abu Dhabi as well as private equity major KKR have evinced interest in investing in Reliance Power, where promoters plan to sell part of their direct holdings to raise Rs 2,500 crore, investment banking sources said Tuesday. Part of the diversified Anil Ambani group, Reliance Power has appointed J […]
Coming soon: Tata Motors to sell electric cars with of 200-250 km range
Taking a step forward in the electric vehicle space, Tata Motors plans to deliver higher range of electric vehicles to the tune of 200-250 km in the next two years. Speaking to the media, Shailesh Chandra, president, electric mobility business and corporate strategy, Tata Motors, said: “While the optimum range today for mid-sized car like […]
Citing technological interventions, Andhra Pradesh discoms approach regulator to reduce wind power tariffs
The electricity distribution companies (discoms) of Andhra Pradesh have approached the state’s electricity regulator to lower the rates at which it procures wind power. The discoms want to change the parameters used to determine the tariffs of wind power plants in the state, which would result in lower tariffs. The state-owned companies claimed that a […]
Bhushan Power resolution: Lenders to approach NCLT for early hearing
Lenders to Bhushan Power and Steel (BPSL) will soon approach the National Company Law Tribunal (NCLT) requesting an early hearing for approving the resolution plan of its preferred bidder JSW Steel for the bankrupt company. Though the resolution professional, Mahender Khandelwal, had on February 14 submitted to the NCLT for approval JSW Steel’s Rs 19,700-crore […]
ArcelorMittal offers Rs 4,800 crore for Essar’s Mahan power project in MP
ArcelorMittal has offered lenders Rs 4,800 crore for Essar’s 2×600 MW Mahan thermal power project in Madhya Pradesh, surpassing the Essar promoters’ one-time settlement offer of Rs 3,500 crore, a senior PFC official told FE. Rajeev Sharma, chairman and managing director of PFC, which is one of the consortium lenders to Essar Power’s MP project, […]
PFC not to extend open offer to REC’s minority holders
Allaying concerns of the investors over the proposed acquisition in REC by the PFC, joint secretary, ministry of power, Arun Kumar Verma, said the former will continue to be a government entity and that the process of price determination for the transaction is underway. Power Finance Corporation (PFC) is likely to close the deal by […]
Power producers caution discoms on “adverse” supply due to rising dues
Joining the chorus against power distribution utilities (discoms) delaying payment to electricity producers, the Association of Power Producers (APP) has said the burgeoning dues may adversely affect electricity supplies. Earlier this month, state-run power giant NTPC had given notices to Andhra Pradesh, Karantaka, Telangana and Jammu and Kashmir for curtaining power supply over pending dues. […]
Ease of doing business: Government exempts these industries from environmental clearance for power plants
The Centre has exempted industries like steel, cement and metal from mandatory prior environment clearance for setting up a new or expanding the existing captive power plant employing waste heat recovery boilers (WHRB) without using any auxiliary fuel. The exemption to industries having potential for heat recovery has been given to promote energy conservation and […]
Wind power auction sees one-year high tariff
The sixth round of wind power auction by the state-run Solar Energy Corporation of India (SECI) that concluded on Thursday discovered a tariff of Rs 2.82/unit, the highest since February last year when the price bottomed out at Rs 2.44/unit. The results of the latest round of bidding have raised the fear that the “high […]
PGCIL can offer power towers to telecom firms
To address the issue of deficiency of telecom coverage in remote areas, the Central Electricity Regulatory Commission (CERC) has allowed state-owned power transmission firm Power Grid Corporation of India (PGCIL) to offer its electricity towers to telecom companies. If PGCIL’s initiative becomes successful, it can be emulated by private transmission companies and electricity distribution companies, […]
Electric vehicles: Battery swapping technology showcased, to benefit e-rickhaws, taxi companies
On Friday, Fortum India, a subsidiary of Finnish clean energy company Fortum Oyj, and Clean Motion, the manufacturer of e-rickshaws, showcased a battery-swapping project for light EVs. The project comprises of 90 NMC batteries of 1.5kWh, one swapping station with 20 batteries and 30 e-rickshaws that have been modified for swapping. “The goal is to […]