Category: Power

Power Grid Corporation of India (PGCIL), the central transmission utility of the country, recorded a 14.2% year-on-year (y-o-y) rise in net profit to Rs2,367.8 crore for the quarter ended December 31 as revenue from power transmission — its main business segment — grew nearly 13% y-o-y to Rs8,271.9 crore.

Uttar Pradesh, Bihar, Jharkhand and Assam have started receiving wind-based electricity from Mytrah Energy’s 128.7 MW project in Tamil Nadu, power trader PTC India said on Wednesday.

Union Finance and Railways Minister Piyush Goyal has been awarded the 4th Carnot prize by Kleinman Center for Energy Policy at the University of Pennsylvania for his work in sustainable energy solutions and was felicitated today by a team from University of Pennsylvania who came to India.

Essel Infraprojects is in the final stages of discussions to sell its solar energy portfolio to private equity investor Actis, according to sources. The sale of the portfolio, totaling 685 mw of installed and under-construction projects, could fetch the company about Rs 4,500-5,000 crore, sources told FE.

JSW Energy’s net profit for the December quarter rose three-fold on-year to Rs 146.13 crore as operating margins rose 114 basis points, and sales realisations improved during the period.

The Justice Srikrishna panel, set up to independently enquire the allegations of quid pro quo in the controversial Videocon loan case, has indicted Chanda Kochhar, the former CEO and MD of ICICI Bank. The bank has said that the independent enquiry has found the former top boss in violation of code of conduct.

Thanks to slow implementation of schemes aimed to de-congest electricity transmission networks, less than a fifth of Rs 10,894 crore sanctioned by the Union power ministry from the Power System Development Fund (PSDF) since 2014 has been utilised so far.

In what might be seen as a breather to Rattan India Power’s 1,350 MW Nashik plant and KSK Group’s 540 MW unit in Wardha, the Maharashtra electricity regulatory commission (MERC) has ordered the state discom to revise the quantum of capacity alloted to power generators in 2012 against bids for 1,090 MW.

The recommendations of a high-level empowered committee (HLEC) on stressed power assets will be placed before the Cabinet soon for approval, power minister RK Singh said on Tuesday.