Search Result for : Power Sector

By Abin Daya The power sector in India is one which has been classified as a ‘negative’ industry by a number of lenders due to the woes surrounding ailing thermal power producers. However, the renewable energy segment was always looked upon favourably due to the phenomenal growth exhibited in the past few years. This segment too might be going through a period of change as we see in this week’s update. While wind energy might be looking at a period of slow growth, changes in duty structures are what the solar power generators might have to encounter. On the infrastructure side, some good news for developers who have been trying to avail financing for projects under the Hybrid Annuity Model. While lenders ...

The Dollar Business Bureau  With a huge demand for investment in the infrastructure, India is looking for investors globally and London would prove to be natural destination, said Nikhil Rathi, Chief Executive Officer, London Stock Exchange (LSE). “So, India is a fastest growing economy in G-20, growing at 7% a year. There is huge demand for infrastructure investment in India, and it is going global and looking for global investors and London is proving to be natural place for it,” Rathi said. The LSE witnessed the listing of Rs.7,000 crore worth of bonds on Thursday and Friday. India’s Road Transport Minister Nitin Gadkari has launched NHAI bonds worth Rs.5,000 crore on Thursday. Piyush Goyal, Power, Coal and Renewable Energy Minister, has launched the trading of papers on Friday worth Rs.2,000 crore from NTPC ...

The Dollar Business Bureau In order to create better efficiency, the government has identified old thermal power projects and replace them with efficient ones, resulting in the creation of 18,560 MW of energy-efficient supercritical plants. Old power plants currently total 7,738 MW, and their replacement would help save natural resources, besides doubling the generation capacity of such sites. A senior official from the power ministry was quoted offering an example, he suggested that the 440 MW Haryana Power Generation Corporation in Panipat could be replaced with an 800 MW energy efficient plant. The official said the move towards energy efficiency and less-polluting technology makes more sense than renovation and modernisation and will yield long-term benefits. The move trails a December 2015 guideline from ...

The Dollar Business Bureau Power generation in India from conventional as well as renewable sources surged by 6.25% to 1,038.9 billion units (BUs) in the April-January period of this financial year compared to the same period a year-ago.  “The power generation increased by 6.25% at 1038.9 BUs in the April-January period this financial year compared to 977.81 BUs in the corresponding period a year-ago,” according to an official from power ministry.“Focussing mainly on the renewables sources is driving up overall figures of electricity generation,” the official added. The official further stated that the growth in power production, excluding the renewable sources, was 5.04% in the first 10-month period of the fiscal 2016-17. During the given period, power production from renewable sources such as solar and wind grew ...

The Dollar Business Bureau Coal imports have declined by 21.7% to 14.31 million tonnes in January as the power utility companies did not lift enough fuel due to the surplus stock available with them. Import of all types of coals in January this year was 14.31 million tonnes (provisional) compared to 18.28 million tonnes in the same month in 2016- an ecommerce platform, mjunction services limited jointly created by Tata Steel and SAIL told PTI. “In power sector, the state utilities are replete with stock and are aiming to curb imports altogether (except for coast-based plants) by March 2017. This explains the substantial drop....In steam coal imports in January 2017 vis-a-vis the same month last year,” said Vinaya Varma, Chief Executive Officer, mjunction. There was ...

PTI Minister of Commerce and Industry Nirmala Sitharaman said in a statement that total FDI equity inflows in the non-conventional energy sector from April 2014 to September 2016 was $1.77 billion. According to the given statement, 100 percent FDI is allowed for the renewable power generation projects and furthermore distributed subject to provisions of the Electricity Act, 2003. Indian government has revised renewable energy capacity target to 175GW by the end of 2022, making it the largest expansion in the world, also to provide plenty of opportunities to investors. UN Environment programme’s - Global trends in Renewable Energy Investment 2016 report ranks India among the top 10 countries in the world investing in renewable energy. The highest ever solar and wind power capacity has ...

The Dollar Business Bureau Less dependence on the imported coal and the relief in tariff for affected projects is a positive sign for the power sector, however, the timeline for tariff relief implementation is unclear yet, said independent ratings agency ICRA.  “ICRA positively takes note of the order issued by the CERC (Central Electricity Regulatory Commission) approving tariff relief under force majeure for the imported coal-based power projects of Adani Power Ltd (APL) and Coastal Gujarat Power Ltd (CGPL), affected by the change in regulations in Indonesia,” the ratings agency said. However, the implementation of tariff relief order is subject to the nod of the Supreme Court and therefore, timelines are not clear for its implementation, it said. ICRA estimated that the tariff relief, as per ...

The Dollar Business Bureau Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, Piyush Goyal, addressed a distinguished gathering of Industry stalwarts from Energy sector at a media event, ‘Energy Conclave, 2016 – Securing India’s Green Future’, organized on Wednesday. The Minister noted that India has its own developmental imperatives in the near future, hence it cannot shun the use of fossil fuels completely from its energy basket. It is important to strike a balance between the conventional and renewable sources of energy and rapid societal development & environmental concerns, he added. He also expressed happiness to see renewable energy taking centre stage in discussions on power sector recently. He noted that it is of prime importance to achieve the goal of ‘One Nation, One Grid, One ...