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May 5, 2012

World Bank Loan by PGCIL for strengthening of power system…

Power Grid

Power Grid Corporation of India Ltd (PGCIL) has earlier signed three loan agreements with World Bank for development of Power Systems; currently the disbursements are being availed.

 

Presently, following three loans are ongoing, i.e. disbursements being availed:

  1. Power System Development Project-IV (No. 4890-IN) - Loan amount: USD 600 million, loan signed on 28th March 2008;
  2. Additional Financing for Power System Development Project-IV (No. 7593-IN) - Loan amount: USD 400 million, loan signed on 27th January 2009; and
  3. Power System Development Project-V (No. 7787-IN) - Loan amount: USD 1000 million, loan signed on 13th October 2009.
 


Major projects being funded by the above loans are:




  • ±500kV, 2500MW Balia - Bhiwadi HVDC Bipole System.


  • East-West Transmission Corridor Strengthening Scheme.


  • North-West Transmission Corridor Strengthening Scheme.


  • Western Region System Strengthening Scheme-II.


  • Eastern Region System Strengthening Scheme-I.


  • System Strengthening–XIII in Southern Regional Grid.


  • Northern Region System Strengthening Scheme- XXIV.


  • System Strengthening–XVII in Southern Regional Grid.


  • System Strengthening in Western Region for Sasan UMPP.


  • System Strengthening in Western Region for Mundra UMPP.


  • System Strengthening in Northern Region for Sasan and Mundra UMPP.


  • System Strengthening in Southern and Western Region for Krishnapatnam UMPP.


  • Northern Region System Strengthening Scheme-XXV.


  • Northern Region System Strengthening Scheme-XXVI.



 



Thus, these loans shall facilitate strengthening of the power transmission network across the country including inter-regional link and evacuation of power from Ultra Mega Power Projects like Sasan, Mundra and Krishnapatnam.



 



 





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BHEL-ISG bagged order of Rs. 312 Crs for supply coal handling plants from NTPC-UPRVUNL JV for Meja TPP…

BHEL-ISG

The Joint Venture of NTPC and UPRVUNL (Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd) has given an order of Rs. 312 Crs to BHEL’s Industrial Systems Group for supply of Coal Handling package for the upcoming Meja Thermal Power Project in Utttar Pradesh.

 

BHEL-ISG specialises in

 

Earlier as captured by Power India the order for Super Critical Boilers for the project has been awarded to BGR Energy.

 

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Funding including Private Equity funds are shying away from Indian Power Sector due to the prevailing uncertainties in the sector…

Private Equity funding in the Indian Power Sector is drying up fast due to the prevailing uncertainty over reforms in the sector. 

 

As captured by Power India; Indian Power Sector during the 12th plan will need around 13.72 Crores to add 76,000 MW of Capacity.


We believe that funding so much amount of the money to the cash hungry power sector is a very tough task; considering that one in every three thermal power plants in the country is operating on a critically low supply of coal and the government has not been able to solve the problem.


As said by Siddharth Shah of Nishith Desai Associates,

“Most investors have gone into a-wait and-watch mode because this is a sector which requires larger-ticket size deals. Investor appetite is beginning to fade with so much of uncertainty and this is obviously impacting the sector.”

We further found that  various Private Equity funds which normally seeking to fund the big ticket projects such as power project are also currently shying away from these investments. Whatever deals are happening; size of them are also getting contracted.

 

As captured by Money Control the four deals this year have ranged from USD 5 million to USD 30 million. Investors are losing interest in the power sector as capital has become more expensive for power projects. Even public sector power projects are losing their sheen.

However as a little ray of hope; not all PE Players are diffident.

SM Sundaram, partner & CFO, Barring Pvt Eq Partners India, says,

“These are not things in which you can get in and out. Forget about a few quarters or years. If you are a long term player, there are opportunities out there.”

Nevertheless, experts say the only way these power companies will prove good investments is if their problems regarding fuel supply and land acquisition are ironed out, and their main customers – the state electricity boards – become financially solvent soon

 

 

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US Solar Companies allege that India has violated WTO norms…

  Solar Energy Industries Association

The Solar Companies of United States are alleging that the norms laid down under  the National Solar Mission of Indian Government are a clear violation of World Trade Organization’s rules and want the US Government to drag India to the World Trade Organization.

 

As being argued by Solar Energy Industries Association (SEIA):

The requirement of NSM, the crystalline cells of  solar PV projects must be manufactured in India which however will help grow the local solar PV industry of India but doing so the same will adversely affect the global climate due to severe competition.

 

According the SEIA the one of the responses that the US could take in that context is US increase its local content related enforcement activities, for example, formally challenge India’s local content requirements.

 

 

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Power Ministry proposed amendments to Electricity Act 2003…

Acts

The Power Ministry has proposed certain amendments in the Electricity Act 2003, in the Section 11 and  Section 61(1); which are targeted to smoothen the implementation process of the said Act.

  • Amendments proposed to curb the alleged misuse by state governments and prohibit the sale of surplus power from generating plant to entities outside the state.
  • It has proposed an appropriate government may specify that a generating company shall, in extraordinary circumstances, operate and maintain any generating station in accordance with the direction of that government.
  • ‘extraordinary circumstances’ mean those arising out of threat to the security of a state, a public order or a natural calamity, or other circumstances arising in public interest, except for the implementation of open access, as envisaged in the Act.”
  • The ministry’s proposal has secured support from the Forum of Regulators, an apex body of power regulators. The forum said, “The Act may be amended to provide greater clarity on the meaning of the ‘extraordinary circumstances’ mentioned in Section 11.”
  • The ministry’s move is crucial, given several states were resorting to invoking Section 11, citing rising power shortages. These were asking all power generating stations to operate at their full capacity and supply power within the state. Recently, states like Andhra Pradesh, Karnataka and Tamil Nadu had exercised their powers, invoking Section 11.
  • While the ministry has also proposed an amendment to Section 61(1), the Forum of Regulators said amendments in Sections 62 and 63 would introduce more clarity. However, it said determining generation tariff should be based on competition.

 

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A council of the Global Solar Sector has been formed in line with Global Wind Energy Council by the international solar PV companies…

imageIn line with the Global Wind Energy Council a Global Solar Council has also been formed by representatives of leading international companies in the solar photovoltaic industry such as Applied Materials , Dow Corning, DuPont , First Solar , Lanco Solar , Phoenix Solar and Suntech .

 

The Global Solar Council is a CEO-level coalition of leading international companies in the photovoltaic solar value chain.  Its mission is to promote the global development and growth of solar energy.

 

The Council aims to expand the use of solar energy in the global energy mix by actively promoting the benefits of solar energy.  The Council will communicate with senior policy makers on the substantial successes already achieved by solar and the importance of a public policy environment that will allow the ongoing development of solar energy, driving job creation and economic growth.

 

The Council addresses all parts of the solar equation such as material supply chain, financing, policy support, research and development, cross-national cooperation, and grid development and management.

 

The ultimate goal of the Global Solar Council is to increase global deployment of solar energy in a sustainable fashion.

 

Members of  the GSC are:

 

 

image

 

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Rajasthan Electricity Regulatory issued a notice to Jodpur Distribution company for failing to supply power to the villages…

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A notice has been issued to the Jodhpur Vidyut Vitran Nigam Ltd (JDVVNL), Government power distribution company, by Rajasthan Electricity Regulatory Commission (RERC) for failing to provide a minimum six hours of power supply to ground nut growers in 40 villages of Bikaner.

 

The notice has asked why farmers should not be given proper compensation by the company for damage to their crops.

 

As captured in Daily Pioneer; last week, Manak Chand Surana, senior BJP leader and former Rajasthan Finance Minister, on behalf of over 2,000 groundnut growers, had filed a petition before the commission.

 

He asked RERC to direct JVVN to compensate farmers whose crops were damaged for want of power supply to operate tubewells.

 

The petition noted that JVVN and the State Government had last year promised power to agriculture sector during kharif season — between April and October, 2011. Reassured, many small land-holders had sown groundnuts, which require regular irrigation.

 

However, power supply was erratic and lasted only half an hour to two hours daily. The petition pointed out that groundnut yield from the area had shrunk from a normal 10 to 12 quintals per bigha to 4 to 5 quintals, according to reports.

 

RERC has now sought an answer from the Government discom, asking as to why it should not be directed to pay `1,650 per quintal — groundnut’s minimum support price — as compensation, making it directly responsible for the farmers’ losses.

 

 

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After Gujarat a Solar Park over 4000 Acres of Land under its way in Karnataka…

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Karnataka Government is planning to develop a Solar Park which will be having Solar PV Projects in the Mannur, Bijapur District which will be similar to the Solar Farm of Gujarat (Charanaka). The proposed solar park will be developed on 4000 Acres of land.

 

Work will be started with the initial capacities of around 80 MW to 100 MW and will increase progressively in such a manner to complete the entire solar farm in 18 months.

 

The development work will be monitored by Karnataka Renewable Energy Development Ltd (KREDL) which is the nodal agency of the state for promoting renewable energy. KREDL will also be responsible to provide basic infrastructure like power evacuation, water and roads etc to the power developers.

 

As captured by Power India, Karnataka recently announced the winners of the bids for the first phase of the Karnataka Solar Mission, and as per the KREDL some of these projects would come up in the park.

 

KREDL had also called for applications under the REC scheme, where producers of renewable energy who opt out of the preferential feed-in tariff, get tradable certificates.

As confirmed by KREDL, applications worth 500 MW have been received to set up projects under the REC (Renewable Energy Certificates) mechanism and some of these projects will also come up in the park.

 

As per the Karnataka Solar Policy 2011-16, Karnataka Government aims to generated around 500 MW of Solar Projects by FY2016 under various schemes such as

    1. Procurement by ESCOMS – 200 MW
    2. REC Mechanism – 100 MW
    3. Bundled Power Scheme – 50 MW
    4. Captive Scheme – As per the requirement

 

 

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