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July 31, 2013

Status of Financial Assistance provided by MNRE to West Bengal for off-Grid Solar projects ...

 

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Ministry of New & Renewable Energy during the financials years 2009-10, 2010-11, 2011-12 and 2012-13 had released around Rs. 11.78 Crores, Rs. 12.47 Crores, Rs. 8.12 Crores and Rs. 3.82 Crores respectively to West Bengal Renewable Energy Development Agency (WBREDA) for various off-grid and grid connected solar power projects.

Ministry of New & Renewable Energy, under its Off-Grid and Decentralized Solar Application Scheme of Jawaharlal Nehru National Solar Mission provides a subsidy of 30% of the project cost ranging from Rs. 42 to Rs. 72 per watt peak for off-grid SPV power plants having module capacity up to 100 kWp depending on their capacity and configuration in general category States.

However, in Special Category States, UT Islands and districts with international borders, it provides 90% of the cost of the off-grid SPV power plants limited to in the range of Rs. 126/- and Rs 216/- per Wp for installation by Central and State Government Ministries, departments and their organizations, State Nodal Agencies and Local Bodies.

The Ministry also provides a subsidy of 30% of the cost of project limited to Rs. 150 per watt for installation of micro/mini-grid SPV power plants of unit capacity up to 250 kW.

The ministry is providing generation based incentives at a rate equal to difference between CERC approved applicable tariff and a notional rate of Rs. 5.50 per unit for the year 2010-11, escalated at three per cent every year thereafter for solar power projects of total capacity 100 MW.

The Government is extending exemption on excise duty on the components procured from within the country and levying concessional customs duty on the components imported for the first time installation of solar power plant. Accelerated depreciation and tax holiday facilities are also available for solar power projects.

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EDI of Tamil Nadu engages SunEdison for providing solar training to students...

 

solar trainingThe Entrepreneurship Development Institute of Government of Tamil Nadu has engaged SunEdison to provide training related to solar projects and related aspects to the students of the institute.

The proposed training program will be of four week duration with the coursework of 120 hours and to be held between 29th July to 29th August at the campus of Entrepreneurship Development Institute of Government of Tamil Nadu's campus in Chennai.

The course will cover solar module installation, with technical training provided by SunEdison, and is open to all candidates holding a diploma or an engineering degree. The course is priced at Rs 15,000, which covers the cost for all materials. Course fees are to cover educational costs.

In this, SunEdison is advised by the Solarillion Foundation, which is a Chennai-based not-for-profit research, outreach and education organization that mentors students interested in renewable energy.

According to the company, the program will prepare students for self employment opportunities in the field of solar projects and will give them tools and knowledge to start a small scale solar enterprises.

 


Additional Reading...

http://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/tn-ties-up-with-sunedison-for-solar-training/article4971572.ece


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CCI clears two Hydro Projects in Arunachal Pradesh...

 

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The Cabinet Committee on Investment (CCI) have approved setting up of two hydro power projects in Arunachal Pradesh.

NHPC had signed an MoU (Memorandum of Understanding) in 2007 with the state for investing Rs 27,000 crore for setting up mega hydro projects by the end of the 12th plan period (2012-17).

Currently, NHPC is construction hydro power projects of over 4,000 MW which includes 2,000 MW Subansiri Project at the Assam - Arunchal Pradesh.

 


Additional Reading...

http://economictimes.indiatimes.com/news/news-by-industry/energy/power/cabinet-committee-on-investment-clears-2-arunachal-pradesh-hydro-power-projects/articleshow/21505494.cms


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CIL arranges a meeting with government officials and public enterprise to discuss the modalities of importing coal...

 

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Coal India Ltd (CIL) has called a meeting with various government officials as well as public enterprises to discuss and finalize modalities for importing coal to meet the needs of various fuel starved power plants.

CIL has issued a Pre Notice Inviting Tender (NIT) meeting for the above purpose.

According to sources, this move of CIL follows the directive of Coal Ministry to enter into Fuel Supply Agreements (FSA) for the 78,000 MW capacity assuring them of at least 80% of the committed level.

Out of that, Coal India to supply 65% from domestic sources and another 15% through import.

So far, CIL has signed 82 FSAs for the capacity of 34,793 MW. 

CIL had earlier said that it may import as much as 20 Million tonnes of the fuel during the current financial year to comply with the orders for increasing supplies to power utilities and avoid paying penalties.

 


Additional Reading...

http://economictimes.indiatimes.com/news/news-by-industry/indl-goods/svs/metals-mining/coal-india-to-discuss-modalities-for-importing-coal-on-august-8/articleshow/21505729.cms


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CEA's Monthly Review of Indian Power Sector - June 2013

 

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Central Electricity Authority (CEA) has published its monthly review of Indian Power Sector for the month of June 2013.

Highlights of the same are as below:

 

Pan India Electricity Generation

  • All India Generation for the month was 76 BU compared to 77 BU last year giving a negative growth of 1.25% and it is 95% of the target.
  • During the period April 2013 to June, 2013, pan India Generation was 238 BU compared to 231 BU over the last year giving a growth of 2.84% and it is 101.46% of the target.

Generation from the Thermal Projects

  • Generation from the Thermal Projects was 61 BU compared to 62 BU last year giving a negative growth of 2.40% and it is 92.53% of the target.
  • During the period April 2013 to June, 2013, generation was 198 BU compared to 193 BU over the last year giving a growth of 2.88% and it is 99.22% of the target.

Generation from the Nuclear Projects

  • Generation from Nuclear Projects was was 2.82 BU compared to 2.75 BU last year giving a growth of 2.84% and it is 112.37% of the target.
  • During the period April, 2013 to June, 2013, generation was 112.37 BU compared to 8.41 BU over the last year giving a negative growth of 9.00% and it is 97.14% of the target.

Generation from the Hydro Projects

  • Generation from the Hydro Projects was 12 BU compared to 11.38 BU last year giving a growth of 5.44% and it is 106.65% of the target.
  • During the period April, 2013 to June, 2013, generation was 31.28 BU compared to 29.50 BU over the last year giving a growth of 6.04% and it is 101.81 %of the target.

Complete report is embedded below.

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GE's Financial Services Arm has invested Rs. 257 Crores in Gati Infrastructure Ltd...

 

Venture Captial in Gati Hydro

GE Energy Financial Services, has invested around Rs. 257 Crores in Gati Infrastructure Ltd (GIL) through a share subscription agreement.

Gati Infrastructure is owned by Mahendra Agarwal, founder and CEO, and his group firm Amrit Jal Ventures Ltd, an owner of special purpose vehicles (SPVs) with three hydro-electric power projects under construction in Sikkim.

Gati Infrastructure focuses on renewable energy and has a portfolio of solar, hydro and coal projects. The firm is backed by River Valley Hydro Venture Pte Ltd which invested $6.96 million in the company in 2007.

 

Gati Infrastructure, has recently commissioned its firs hydro electric power plant having capacity of 110 MW in Sikkim having investment outlay of Rs. 1188 Crores.

According to sources Gati Infrastructure has an enterprise value (EV) of around Rs. 1,400 Crores.

GE Energy Financial Services provides financial and technological investment in energy infrastructure projects. According to the company, it has committed more than $9 billion for wind, solar, biomass, hydro, geothermal and other renewable power projects.

For the deal between GE Financial Services and Gati Infrastructure, IDFC acted as the lead financer with a loan at project level and Capital Fortunes Private Ltd was the advise and sole arranger for this transaction.

 


Additional Reading...


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NPTC's Net ProFit increased by 1.2% at Rs. 253.0 Crores...

 

imageNational Thermal Power Corporation (NTPC) has posted its results for the first quarter ended 30th June, 2013 and as per the same the net profit of the company was recorded at Rs. 2527.02 Crores which was higher by 1.2% compared to the level of Rs. 2498.67 Crores during the same period last year.

 

Also, the total income from operations dropped to Rs. 15,661.85 crore in the latest June quarter from Rs. 16,165.95 crore in the same period a year ago.


However, according the company officials, lower expenses helped the company to report a marginally higher quarterly net profit. In the 2013 June quarter, total expenses of the company fell to Rs.12,289.94 crore compared with Rs. 13,092.66 crore last year.

Meanwhile, the variation related to coal prices on gross calorific value (GCV) basis, worth about Rs. 3,523.18 crore at the end of June this year has been considered as “contingent liability”. From December 2011, the grading and pricing of non-coking coal was changed to GCV basis from earlier useful heat value (UHV) system.

Click below to view the real-time stock prices of NTPC.

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Additional Reading...

http://www.hindustantimes.com/business-news/CorporateNews/NTPC-net-profit-crawls-up-1-to-Rs-2-527-crore/Article1-1100853.aspx

http://www.indiainfoline.com/Markets/News/NTPC-Q1-PAT-at-Rs25.30bn/5744185524


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RPower Net ProFit remain Flat at Rs. 240 Crores...

 

Reliance PowerReliance Power Limited, announced its consolidated financial reports on 30/07/2013 according to which the net profit of the company is around Rs. 240 Crores for the first quarter of 2013-14 which was Rs. 239.5 Crores in the corresponding quarter of previous financial year.

Further the total income recorded was Rs. 1,206 Crores which was Rs. 1,252 Crores in the same period last year.

According to company, The total income has seen a decline mainly on account of fall in domestic and international coal prices. In the cost pass-through model, if the coal prices decline, the topline will surely be impacted.

Further according to company officials, the performance of various projects were satisfactory:

  • 1,200 mw Rosa power plant in Uttar Pradesh operated at 100% availability and 72% plant load factor (PLF).
  • The 40 MW Dhursar solar plant in Rajasthan operated at 23% PLF
  • Performance of the 600 MW Butibori plant in Maharashtra was also satisfactory. The regulatory approval for selling power on cost-plus basis from 600 MW Butibori project will pave the way for substantially mitigating the sectoral challenges such as fuel and commercial risks for the plant. So far, short-term trading from Butibori plant was being done. Once the off-take commences (on cost pass through) the performance will further improve.

Updates given by the company on other under construction project are:

  • Construction work is in progress for the second 660 mw unit of the 3,960 mw Sasan ultra mega power project and the plant is on track to start ahead of the bid schedule by June 2014.
  • 45 MW Wind Project in Vashpet, Maharashtra was recenly commissioned.
  • Construction work at 100 MW solar power project (CSP) at Dhursar, Rajasthan is expected to be commissioned this year.

Currently RPower is having operational capacity of 2,545 MW.

Click below to view the real-time stock prices of RPower.

Stock Watch

 

 
 
 

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