MUMBAI: Piramal Enterprises has entered into an agreement with Canada Pension Plan Investment Board (CPPIB) to set up a $600-million renewable energy-focused infrastructure investment trust (InvIT). The duo will look to rope in additional partners to increase the size of the corpus. InvITs are a hybrid instrument that own and manage operational and revenue-generating infrastructure […]
Category: Power
Power
TS power utilities websites hit by ransomware restored
HYDERABAD: A majority of the services of ransomware-affected Telangana State Southern Power Distribution Company Limited (TSSPDCL) were restored by Friday. However, bill payment through the TSSPDCL website via Internet banking was still not functional, but services to pay bills through PayTM on the website and payment through TSSPDCL App have been restored. On April 29, […]
Tata Power Q4 net profit drops 92% to Rs 107.32 crore; declares dividend of Rs 1.30/share
NEW DELHI: Tata Power on Thursday reported a 92 per cent decline in consolidated net profit at Rs 107.32 crore for the quarter ended March due to an exceptional adjustment in the previous year. The company’s consolidated net profit stood at Rs 1,364.33 crore in the quarter ended March 31, 2018, it said in a […]
KKR makes first bet on infra biz with Sterlite power deal
Mumbai: US-based alternative asset major KKR is taking a 74% stake in Sterlite Investment Managers Ltd, which manages an infrastructure investment trust (InvIT) that owns power transmission projects of Sterlite Power Grid Ventures. This would mark KKR’s first big bet on the infrastructure space, said sources familiar with the matter. The deal will also be […]
SECI defers bid submission deadline for 97 MW solar project till May 21
New Delhi, Apr 29 () State-owned SECI Monday again extended deadline for submitting bids for another renewable energy project as some of the queries of bidders have not been addressed yet. The last date for submission of the bids for setting up 97.5 MWP (megawatt peak) grid connected rooftop solar PV system was April 30, […]
Higher tariff in 2nd auction for mid-term PPA auction positive for power producers, says ICRA
New Delhi, Apr 25 () The power ministry’s second auction for procuring 2.5 GW of thermal power in medium term at a higher tariff of Rs 4.41 per unit compared to Rs 4.24 per unit in the first round is positive for power producers, but signing of sale agreements with discoms remains crucial, ICRA said […]
Tangedco opts for GPS to get wind power generation real time
CHENNAI: Tangedco has started measuring wind power generation real time with the help of GPS over the last few months. GPS system has been installed in all windmills across the state and discom has been able to measure the power generation from a windmill without going to the spot. Till now an assessor with the […]
SECI defers bids submission for 1,200 MW wind-solar hybrid capacities till May 7
New Delhi, Apr 23 () State-owned SECI on Tuesday extended deadline for submitting bids to set up 1,200 megawatt (MW) solar-wind hybrid power projects till May 7, as some of the queries of bidders have not been addressed yet. “The last date for submission of the bids was April 23, 2019. But, bidders did not […]
IBA, power sector spar on RBI norms for stressed assets
NEW DELHI: The power sector and Indian Banks Association have locked horns over threshold for approving resolution plan for stressed assets in tune with the Indian Bankruptcy Code in the revised circular on stressed assets being redrawn by the RBI after the Supreme Court on April 2 struck down its earlier circular. In their recommendations […]
Power cuts get erratic, leave Bengalureans exasperated
BENGALURU: Residents of several localities, including Jayanagar, HSR Layout, Koramangala and Whitefield, have alleged that unscheduled power cuts are not only getting frequent but also continuing for longer durations. Data available with the Bangalore Electricity Supply Company Limited (Bescom) shows more than 48 instances of unscheduled power cuts were recorded across the city till 4.30pm […]
Power producers outstanding dues on discoms spike 20% to nearly Rs 41K cr in Jan
New Delhi, Apr 9 () Outstanding dues of power producers on electricity distribution utilities have increased by more than 20 per cent to Rs 40,804 crore in January 2019 compared to the year-ago month, adding to the woes of the stressed sector. According to PRAA portal, discoms owed a total of Rs 33,848 crore to […]
MP govt invites bids for 25 MW rooftop solar projects
New Delhi, Apr 9 () Madhya Pradesh government Tuesday said it has invited bids for 25 MegaWatt (MW) rooftop solar projects for industrial units in the state. The tenders have been invited by state-owned Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL) and the last day to submit financial bids is May 10, 2019. “Madhya Pradesh […]