Transparent policies in India for investment in energy: Pradhan
PTI Seeking to provide affordable energy to the Indian consumers, the government has introduced transparent policies through the deregulated market for global players to invest in refineries and petrochemical plants, Oil and Petroleum Minister Dharmendra Pradhan said here today. Launching a road show which offers 67 discovered small fields, clustered into 46 contract areas, for production and supply of oil and gas to the Indian market, he said India is seeking global investors for its energy sector to create competition in the domestic market with the main objective of providing competitively priced products to the consumers. "Consumers are the kings in India. We want to provide affordable energy to our consumers," Pradhan said, stressing that participation by big energy players like Saudi ...
Essar Power focuses on getting stuck projects operationalised
The Dollar Business Bureau Essar Power on Sunday said it is focusing on getting its stuck projects operationalised and profitable, with no clear cut plan regarding monetizing its assets. The private utility has a debt of Rs.20,369 crore and is evaluating options to reduce it. Earlier, Essar Power had said it was considering to monetise some of its plants, including its gas-based units in the country. The company is planning to operationalise its 1,200 MW Mahan project in Madhya Pradesh and its two gas-based units in Gujarat. Essar Power has two captive gas-based units in Gujarat with total capacity of 500 MW and 515 MW each. The two plants are currently inoperative due to shortage of fuel. The 500-MW plant in Hazira in Gujarat was commissioned ...
Essar Power logs profit for first time since 1997
The Dollar Business Bureau Almost two decades after entering the power generation business, Essar Power finally logged profit of Rs 39 crore for FY16. The management is optimistic of continuing healthy business for the latest fiscal and is even expecting Rs 550 cr net income by the end of the financial year 2017, provided that the coal prices and further variables remain stable, revealed Sushil Maroo, Vice-Chairman of Essar power. Against the net loss of Rs 684 crore in FY15, Essar closed at net profit of Rs 39 cr in FY16. Low coal prices, reverse e-auction of coal, other effective measures and average Plant Load Factor of more than 80% gave a push to EBITDA (Earnings before interests, taxes, depreciation and amortization) by 168% ...
