Indian Power Sphere: August 2011

August 30, 2011

Spark’s update on new Transmission Projects…

Government has notified five transmission projects for implementation with private sector participation through tariff based competitive bidding route. The notified schemes are inter-State transmission projects and as such these do not belong to any particular state. Details of the transmission schemes are given below: Sl Transmission...

13 Projects of Coal India awaits environment clearances…

Thirteen coal mining projects of Coal India Ltd are pending with the environment and forests ministry for approval, Environment and Forests Minister Jayanthi Natarajan told parliament Tuesday. "These projects have not been accorded environmental clearance as on date, due to non-submission of complete information," Natarajan said...

Power finance companies may be hurt by new NBFC provision norms…

As per the note published by Bank of America Merrill Lynch, the Reserve Bank of India panel's new recommendations on lending and provisioning rules for non-banking financial companies could hurt power sector finance companies such as Power Finance Corp (PFC), Rural Electrification Corp (REC) as well as others like IDFC, Shriram Transport...

Sahara, Korea join hands for power projects…

According to reports, Sahara India Power Corporation Ltd, in association with Korea East-West Power Co Ltd, will be setting up power plants through mega projects in India to generate 6,000 MW. The CEO of Sahara Power Ashok Bhargava and president & CEO of Korea East-West Power, Gil Gu, recently signed a memorandum of agreement (MoA)....

Solar Power can meet 5-7% Power Requirement in India by 2021-22: As per KPMG Report…

A study published by KPMG, a global consulting company has forecast that solar power can meet 5-7% of India’s total power requirements by 2021-22. In a written reply to a question in Rajya Sabha today, Minister of New and Renewable Energy Dr. Farooq Abdullah said India has good potential for solar power as it receives solar energy equivalent...

RPower sought shareholders’ approval for raising funds through QIP…

Anil Ambani Group firm Reliance Power has sought the approval of shareholders to raise funds through sale of up to 25 per cent shares to institutional investors for funding projects. It has also sought the nod for mopping up funds through issuing of securities in international markets, according to the company's annual report for...

India to receive 200 Mn EURO loan from EU for Renewable Energy development…

India will receive a loan of 200 million euros from the European Union to finance private sector projects for the development of renewable energy resources. The EU's assistance comes as part of its "strategic partnership" with India and will be made available by the European Investment Bank (EIB) to ICICI Bank, India's largest private...

Coal linkages: 974 power firms line up for supply…

The coal ministry has received applications for long-term coal linkage from central and state utilities, independent power producers (IPPs) and captive power producers (CPPs) for 974 power projects with a generation capacity of over 5.96 lakh Mw, as on July 31. Of the 974 applications, 107 are from central and state utilities for capacity...

Spark’s Update on Suzlon Energy…

Suzlon Energy is turning out to be one interesting turnaround story. After a couple of loss-making years, it appears to be gearing up its businesses, as reflected by its financial performance in 2011 so far. In the March '11 quarter, Suzlon improvised upon its operating margins by more than 500 basis points y-o-y. The June '11 quarter also...

GVK Power & Infra may raise debt to fund Australia’s Hancock buy…

As flagged by Spark earlier, GVK Power and Infrastructure, which will acquire two coal mines from Australia's Hancock Prospecting for about $2.2 billion, could likely fund the acquisition by raising debt without much strain on key financial parameters as the Hyderabad-based company's leverage is comfortably below industry peers. ...

August 29, 2011

Floating Solar power plant on Narmada branch canal near Sanand…

Earlier this year, Tata power partnered with Sunengy, Australia to build the first floating solar plant in India. The construction of the pilot plant in India is expected to commence in August 2011. The Punjab government in June this year approved the setting up of a project which will generate solar power by utilizing the space over...

Rel Infra, Tata Power gain on tariff hike news…

Delhi power regulator cleared 22% tariff hike w.e.f. September 1. The last tariff hike in Delhi was made in 2009. Reliance Infrastructure and Tata Power together control nearly 90% of Delhi power market. Reliance Infrastructure and Tata Power shares gained substantially post announcement. At 11:53 hrs Reliance Infrastructure...

Coal India offers 447 MT of coal to power utilities…

Coal India Limited has offered to supply 447 million tonnes of coal to Power Utilities in 2011-12 subject to availability of wagons by the Railways at an average of 190.4 rakes per day during the year. This information was given by Minister of State in the ministry of Coal,Shri Pratik Prakashbapu Patil in a written reply to a question...

Tata BP Solar commissions 1 MW Solar PV Project…

According to reports, Tata BP Solar India, a joint venture of Tata Power and BP Solar, on Monday, said it has commissioned its first 1 megawatt (mw) solar photovoltaic power plant in Orissa under the Jawaharlal Nehru National Solar Mission (JNNSM). The project, owned and developed by S. N. Mohanty at Cuttack in Orissa, was synchronized...

China to fast track India’s Hydel Projects development ! ! !

While the title of this post seems illogical and surprising at times; the same is becoming a reality now-a-days. With the China factor looming large, the Centre is desperately pushing the Arunachal Pradesh Government to expedite the development of storage hydroelectric projects on the Brahmaputra. According to reports, China is planning...

Solar Tariff… Need of re-evaluation ! ! !

Spark feels a need of re-evaluation of the preferential tariff given to the solar power generation by the Central Electricity Regulatory Commission (CERC) from regions with less exposure to the sun’s radiation. According to Spark, it is illogical to follow a single feed-in-tariff (FIT) concept when it comes to setting up solar...

Anna shock for NTPC…

NTPC’s Farakka power project today hit the Anna hurdle as the company had to cancel the commercial production of its new Unit-VI set up at a cost of Rs 2,570 crore. Finance minister Pranab Mukherjee and power minister Sushil Kumar Shinde were supposed to flag off the 500MW unit but they could not come because of an extended session in...

UP signs 600 MW PPA with Gujarat & Adani Power…

According to reports the Uttar Pradesh Government has entered into a year-long power purchase agreement (PPA) with the Gujarat government and a private utility Adani Power for 600 MW of electricity. The UP Government’s move of one year PPA seems for political gains as state elections are to be held next year, but...

August 28, 2011

World’s Largest Power Plants, Spark’s Power Houses Series – Part – 1…

Upon request of lots of readers, Spark has initiated to provide its reader a weekly update on World’s largest Power Plants. For that Spark started a series called, Spark’s Power House Series. As a first article of the series, Spark will present the a summary slideshow giving overall information of world’s larges 25 power plants. So, go ahead, see the article and wait for another…...

August 27, 2011

India to add 3,500 MW of renewable power during the current fiscal…

India will be adding about 3,500 MW of renewable power during the current fiscal. which would entail a capital investment of about 29,000 crore, Renewable Energy Minister Farooq Abdullah said on Thursday. Spark sensed that a power generation capacity of around 3400 MW (grid-interactive) and 130 MW (off-grid / captive) from various...

Planning Commission’s views on coal shortfall…

The Planning Commission has sounded the alarm over falling coal supplies, saying that special consideration should be made for projects in environmentally sensitive areas. In its approach paper to the Twelfth Five-Year Plan, the commission has sought a thorough review of the current approach to the environment-versus-development...

Discoms to pay higher penalty for over drawl…

Spark learnt from the market sources that the Indian Government proposes to increase penalties on distribution utilities for overdrawing electricity from the grid, a move that is expected to raise demand and prices in the short-term open market and help merchant power plants run by private firms such as Adani Power, Lanco and Monnet...

August 26, 2011

TD Power IPO over subscribed 2.92 times…

The initial public offer (IPO) of TD Power Systems was over subscribed 2.92 times on the last day of the issue on Friday. The company's IPO received bids worth 2.2 crore equity shares till 1700 hrs, as against 75.62 lakh shares on offer, as per the data available with the National Stock Exchange. The company has fixed an IPO...

Indian Renewable Energy Certificate (REC) prices to be cut by 15-30%…

According to reports, the Central Electricity Regulatory Commission has suggested a 15 to 30 per cent cut in prices for renewable energy certificates (RECs) effective April 2012 for five years. This move is intended to make REC trading attractive. The CERC has reduced the forbearance price for non-solar REC to Rs 3.3 a unit (Rs 3,300/...

Update on Wind Power in India…

A wind power capacity of 565 MW has been installed in the country in the current year (upto July, 2011) with private sector investment of around Rs. 3,400 crore. Spark learnt that the Minister of New and Renewable Energy has informed that the Government is promoting wind power projects through private sector investment by providing...

FDI worth over Rs. 4000 crore in renewable energy sector…

India has received Rs 4,900 crore in the last three years as Foreign Direct Investment (FDI) in the renewable energy sector, Lok Sabha was informed on Friday. Spark found that New and Renewable Energy Minister Farooq Abdullah said in written reply to a Lok Sabha query that: “ Approximately Rs 4,900 crore has been received as FDI equity...

UMPP Coal usage rules may be revised…

The government may amend the rules governing bids for ultra mega power projects (UMPPs), where the usage of excess coal from captive mines meant for these large-sized plants may have to be clearly specified upfront. This is being done to usher in transparency and, hence, avoid any potential controversy. The move to amend the standard...

CIL to replace R-Cap on Nifty…

State-run Coal India (CIL) will replace Anil Ambani Group firm Reliance Capital in the National Stock Exchange’s Nifty index from October 10. Earlier this month, CIL had replaced another Anil Ambani Group firm Reliance Infrastructure from BSE’s blue chip index Sensex. Shares of CIL have been doing well since the company was listed in November...

Germany’s SMA Solar eyes 1.4GW of business from India…

Germany’s SMA Solar, the world’s largest maker of solar inverters, expects that in 2014 its Indian unit will win about 40 per cent of a market it forecasts will reach 3,500 megawatts, an official of the domestic unit said. “We are going with the pace of the Indian industry … but our objective is to be in leadership position in India as...

India targets over 50,000 Mw of Nuclear Power by 2030…

India plans to import light water reactors from Russia, US and France to boost its nuclear energy generating capacity to 50,000-60,000 Mw by 2030, said former Atomic Energy Commission (AEC) chairman M R Srinivasan. Delivering the first Homi Sethna Memorial Lecture on ‘Future of Nuclear Power after Fukushima’, the nuclear scientist said ...

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