Indian Power Sphere: October 2013

October 31, 2013

Essar Power's over Rs 11,000 cr investment awaits mining approvals...

Within a month after the Comptroller & Auditor general (CAG) tabled the coal block allocation report in Parliament in August last year, the Central Bureau of Investigation filed a first information report (FIR) against Hyderabad-based Navabharat Power Private Limited for the coal block allotted to it in Odisha in January 2008....

Increased buying from discoms improve sale of RECs...

After months of tepid trading, sale of 'Renewable Energy Certificates' (RECs) at the power trading body India Energy Exchange (IEX) witnessed a rise in the current trading session. The trading session at IEX featured trade of 98,921 non-solar and 6,548 solar RECs with supply far exceeding demand. However, the trading session...

CERC to hear Adani Power compensatory tariff issue on Nov 13...

Electricity regulator CERC on November 13 will hear Adani Power's plea seeking increase in tariff from its thermal power plant in Gujarat due to rise in price of coal from Indonesia. Adani PowerBSE 1.08 % had petitioned Central Electricity Regulatory Commission for evolving a mechanism to meet the escalation in fuel cost due to...

Suzlon's internation arm REPower renamed as Senvion...

Suzlon Energy has renamed its German subsidiary REpower Systems as Senvion with effect from 2014, the wind turbine maker said Thursday. REpower has been using its name under licence since 2001. The rights belong to a Swiss company that is now using this name itself. Therefore the external corporate design will be gradually changed,...

New Generation Power’s Consortium to be Awarded 315 Megawatt Power Purchase Agreement in India...

New Generation Power, a Chicago based renewable energy company, along with Premier Solar Group, a Hyderabad based solar company has signed one of the largest Power Purchase Agreements (PPA) in India by a consortium. Under the Andhra Pradesh Solar Scheme, the open bid process will now be part of a 1,000 megawatt (MW) development...

Vikram Solar tops Gujarat solar plants performance ranking...

Vikram Solar, a leading global manufacturer of solar photovoltaic(PV) modules and EPC contractor, has been championing the use of efficient and sustainable solar energy. Its efforts are setting new standards in the industry as an independent research has confirmed. “Sunrise in Gujarat” report by RESolve Energy Consultants, Chennai,...

Southern Railway plans to set up windmills in Nellai district...

The Southern Railway is toying with the idea of setting up windmills in the district in a bid to draw on alternative energy to trim its annual electricity bill. General Manager, Southern Railway, Rakesh Mishra told reporters on Tuesday that a comprehensive project report on installing windmills was under preparation. Mr. Mishra,...

PFC to raise Rs.1.5 Billion through bonds

India's Power Finance Corp invited bids on Wednesday to raise at least 1.5 billion rupees ($24.43 million) through an issue of subordinate tier II bonds, a termsheet showed. The firm has sought bids for coupon rates for its proposed 12-year bonds, as per the document. The issue is scheduled to open and close on Nov.7....

Load shedding resumes in Coimbatore as winds drop...

The city witnessed two hour load shedding on Tuesday as wind energy generation dropped. Officials of the Tamil Nadu Generation and Distribution Corporation told on Tuesday that two hour load shedding was implemented in rotation across the city from 7:40am. Usually, hydro generation picked up in the evening hours and wind energy...

Industry miffed as Maharashtra Electricity Regulatory Commission allows higher cross subsidy charge...

In what may be a gain for farmers, but a loss for the manufacturing sector, Maharashtra Electricity Regulatory Commission (MERC) has approved a hike in cross subsidy surcharge (CSS) from Rs 1.18-1.60 per unit to Rs 2.30-2.75 a unit respectively. This has left the industries miffed. CSS is a charge levied from the industry when...

Power Grid to invest Rs 2,820 crore in four projects...

State-owned Power Grid Corp today said its board has investments worth Rs 2,820.04 crore for four projects. The power transmission major would invest Rs 1,364.52 crore in "Eastern Region Strengthening Scheme-V" project, with commissioning expected in 30 months, according to a regulatory filing. Besides, the company would pump...

October 30, 2013

Jindal Steel & Power Q2 net profit at Rs 4520.70 mn...

Jindal Steel & Power Ltd has posted a net profit after taxes, Minority Interest and Share of Profit / (loss) of Associates of Rs. 4520.70 mn for the quarter ended September 30, 2013 as compared to Rs. 8972.80 mn for the quarter ended September 30, 2012. Total Income has increased from Rs. 47338.10 million for the...

Ushdev International cons net profit jumps 112%...

Ushdev International Ltd (UIL), a leading corporate house engaged in the Trading of Metals and Generation of Power, has reported its Financial Performance for the second quarter and half year ended September 30, 2013. Consolidated Total Sales for the quarter ended September 30, 2013 stood at Rs 2,796 crores, registering...

Ramky Acquires Sembcorp's Stake In Indian JV...

Sembcorp Environment, subsidiary of Sembcorp Industries, is divesting its entire stake of 51% in Sembcorp Enviro (India) to partner Ramky International (Singapore) for $7.25 Mn, Straitstimes states. The move is line to streamline its businesses and sharpen its strategy for the Indian market. Sembcorp Enviro (India) is a special...

Pan Global Corp to buy 5.7 MW hydro plant in Uttarakhand for $6.6M...

Pan Global Corp, a firm listed on the OTC exchange in the US, has entered into a stock purchase agreement with Regency Yamuna Energy Ltd (RYEL) to buy the outstanding shares and convertible debt of RYEL which is commissioning a 5.7 MW small-hydro project in northern India. The acquisition, to be completed in multiple tranches,...

Selling power via long-term pacts augurs well for JSW Energy...

Lower power offtake by state distribution companies and depreciation of the rupee led to a 36% year-on-year fall in profit for JSW Energy in the September quarter. The company on Monday reported a net profit of Rs 162 crore for the quarter. A healthy monsoon resulted in weak demand for power during the quarter. As a result, JSW...

Large power plants back on Centre's agenda...

India's power sector has always been a story of shortages, and successive governments have attempted to solve the problem through rapid capacity addition without adequate regard to the backend problems. It was with such missionary zeal to wipe out the power shortage that in 2005 the government had launched ultra-mega power plants,...

Power Ministry awaits Karnataka's response on discom debt recast...

Power Ministry is awaiting response from the Karnataka government on restructuring the debt of the state's discoms, before approaching the Cabinet Committee on Economic Affairs with the proposal. "As soon as Karnataka (government) sends us their response we will send the note to CCEA," an official in the Ministry of Power told...

Everything you want to know about National Solar Mission Phase II batch I...

The Government of India / Solar Energy Society of India has finalized and issued the guidelines for the solar projects under National Solar Mission Phase II Batch I and issued the RfS for the same. Power India have analyzed the key aspects of the guidelines as well as RfS and hereby attached the brief analysis of the document....

October 29, 2013

Tata Power records 43% increase in generation in FY13...

Tata Power, India’s largest integrated power utility, announced crossing over 800 MUs from its Wind Power Projects in FY13. In the span of one year, the Company’s wind farms have generated 813 MUs as against 569 MUs in the previous year, recording an incremental generation of 43% in FY13. This growth is mainly attributed to...

NTPC Q2 net profit at Rs24929mn...

NTPC Ltd has posted a net profit of Rs. 24929.00 mn for the quarter ended September 30, 2013 as compared to Rs. 31423.50 mn for the quarter ended September 30, 2012. Total Income has decreased from Rs. 171709.30 million for the quarter ended September 30, 2012 to Rs. 170594.10 mn for the quarter ended September 30, 2013. Source...

Challenges faced by wind industry...

There is a need to move to a more sustainable form of power generation for avoiding the adverse impacts of climate change, in line with the global target of keeping Global Mean Temperature rise below 2 degree C above pre-industrial levels, as agreed by the world leaders. If we are serious about securing out planet’s future...

In a first, NTPC to ship imported coal via waterways...

In a strategy aimed at cushioning the impact of expensive imported coal, power major NTPC Ltd is in final stages of launching an ambitious plan to move this coal from the high seas to its generating stations through inland waterways, starting with its Farakka plant in West Bengal. The very first consignment for Farakka — a ship...

NHPC revises its strategy, to focus on thermal projects...

The state-owned hydropower company NHPC Ltd has decided to also focus on developing thermal power plants in India in a move that will put it in direct competition with another state-owned company, NTPC Ltd. The main reason would seem to be the long-gestation period of hydropower projects as well as delays in clearances. With...

Sical Logistics wants to handle coal at Ennore port for TNEB...

Sical Logistics continues to explore opportunity to handle thermal coal at Ennore port as an alternative cargo for its iron ore terminal lying idle for nearly two years due to a ban on export of the ore. The company has invested Rs 475 crore on the terminal and spends Rs 4 crore a month to service the principal, interest and other...

October 28, 2013

UT solar project lights up...

The ministry of renewable energy of the central government has given approval to UT administration to equip solar energy plants atop private houses but curtailed their number from 300 to 230. "We received the nod last week. Public notices will be issued and if more than 230 residents opt for the facility, we will hold draw of...

Suzlon promoters convert CCDs worth Rs 203 cr...

Suzlon Energy has allotted over 18.47 crore shares of face value of Rs 2 each upon conversion of 203 compulsorily convertible debentures (CCDs) of face value of Rs 1 crore each, to its promoters. The preferential allotment post conversion of 100 CCDs is in consideration of conversion of the promoters’ unsecured loan of Rs 100 crore....

Kerala State Electricity Board plea to regulator...

The Kerala State Electricity Board has sought a review of drastic cuts in its expenses on generation of power, purchase of power, and general administration. The request was contained in an appeal to the Kerala State Electricity Regulatory Commission. The appeal noted while the Board had projected a revenue gap of Rs 2,758.67...

Government finalising draft policy on incentive for green buildings...

The Centre was finalising a draft policy on non-financial incentives to promote green buildings, a top official of the Ministry of Housing and Urban Poverty Alleviation said here today. Referring to the additional Floor Space Index, for green buildings in Noida, Union Secretary, Ministry of Housing and Urban Poverty Alleviation,...

Tamil Nadu regulator's Order confuses solar energy users...

Domestic consumers who had installed rooftop solar photo voltaic plants have been left clueless with the energy department’s order that capital subsidy of Rs 20,000 for solar systems would be provided only to those who purchased their systems through Tamil Nadu Electricity Development Agency. In the government order, the...

NHPC to buy-back government shares...

State-owned NHPC would buy back government shares which would yield the exchequer about Rs. 20 billion. The Empowered Group of Ministers (EGoM) on disinvestment, headed by Finance Minister P Chidambaram, is likely to give its approval to this effect soon, according to a media report. Under the buyback scheme, the government can...

KEC International stock surges 7%

Shares of KEC International Ltd surged over 7% after consolidated net profit surged 34% to Rs 22 crore on 6.6% growth in net sales to Rs 1778 crore in Q2 September 2013 over Q2 September 2012. The stock is current trading at Rs33, up Rs2.25. The stock has hit a high of Rs33 and a low of Rs31. Source...

Tata Power developing 160 MW wind projects in India...

Augmenting its renewable energy portfolio, Tata Power is developing wind projects having total generation capacity of over 160 MW in the country. The private power producer already has an installed wind energy generation capacity of 398 MW with projects across Maharashtra, Rajasthan, Gujarat, Tamil Nadu and Karnataka. "Tata...

630 MW Bokaro Thermal Plant of DVC closed down due to pollution issues...

630 MW Bokaro hermal Station of Damodar Valley Corporation (DVC) was ordered to shut down on October 24 as it was found polluting the Kolar River. The Ash ponds of Bokaro thermal station were overflowing and the ash was being released to the Kolar River which is a subsidiary of Damodar River in gross violation of pollution norms....

Modern India Ltd to set up 5 MW solar power plant at Satara District...

Modern India Ltd to set up 5 MW solar power plant at Satara District The Board of Directors of Modern India Ltd at its meeting held on October 25, 2013, approved the proposal to set up a 5 MW Solar Power Plant at Satara District, Maharashtra. Shares of Modern India Ltd was last trading in BSE at Rs.52, up by Rs.1 or 1.96%. The...

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