Coal India lined up Rs. 4000 Crores for its planned acquisition of nine overseas coal mines this year...

 

 

Coal India Limited is planning to acquired nine coal blocks in overseas countries such as Mozambique with and estimated outlay of Rs. 4000 Crores during the current financial year.

As per the annual report of Coal India Ltd:

Capital expenditure for 2013-14 has been envisaged at Rs 5,000 crore plus additional ad-hoc provision of Rs 4,000 crore for acquisition of coal assets abroad and development of coal block in Mozambique.

For the 12th Plan (2012-2017), CIL proposed a capital outlay of Rs 25,400 crore and additional Rs 35,000 crore for acquisition of assets and development of Mozambique block.

According to sources, CIL is currently examining 17 investment proposals from among 32 offers received earlier this year from overseas mining companies.

Environmental clearance from the Mozambique government for carrying out exploratory drilling was received in July 2012.

Since then, geological mapping for the entire allotted coal block by a consultant has been completed and drilling contract for 40,000 metre has been awarded till June.

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More literature on this...

http://www.dnaindia.com/money/1872519/report-coal-india-lines-up-rs-4000-cr-mine-buys-abroad-this-fiscal

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Jakson solar to set up a 10 MW Solar PV Project in Bundelkhand region of Uttar Pradesh...

 

The company will set up the solar IPP in Bundelkhand region at a total cost of Rs.800mn and is targeting to commission the project by March, 2014

Jakson Power Solutions, India’s leading power solutions Company, announced that it has secured a new 10 MW solar IPP from Government of Uttar Pradesh under its Solar Power Policy announced in 2013. The company will set up the solar IPP in Bundelkhand region at a total cost of Rs. 800 mn and is targeting to commission the project by March, 2014.

Sundeep Gupta, Joint Managing Director, Jakson Power Solutions said, “We feel immense pride in being associated with Uttar Pradesh government in its mission to install 500 MW of solar power plants in UP by end of March, 2017. We are confident that with our expertise in engineering and execution of solar power plants we will be able to complete the project in record time.

Jakson is already owning and operating a 20 MW solar power plant in Rajasthan which was installed under Phase I of JNNSM. This plant was successfully commissioned by Jakson in February, 2013.

 

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MP Government has allotted Two Solar PV Projects having total capacity of 15 MW to ETain ImMODO...

 

ETain ImMODO Renewables Ltd, Ahmedabad based leading Solar Turnkey Services provider, has been awarded two Solar PV projects with total capacity by Madhya Pradesh Government.

Under the “Policy for implementation of Solar Power based projects in Madhya Pradesh, 2012”, Madhya Pradesh New & Renewable Energy Department (“MPNRED”) has floated a Request for Proposal (RfP) and invited bids for setting up of solar projects under Category II and III of the said policy.

Details of the Bids received by the MPNRED are as follows:

• Total No of companies participated in the RfP: 45
• Total No of applications/bids received: 95
• Total Capacity bided: 1448.44 MW

ETain ImMODO Renewables Ltd (EIRL) which currently is operating more than 95 MW of solar projects worldwide including a 15 MW project in Gujarat Solar Park, has bided for around 20 MW solar projects for the said RfP.

According to sources, MPNRED has issued an in-principle approval/allotment to the company for the 15 MW capacity at Khargone (5 MW) & Mandsaur (10 MW) Districts in the state.

As per the data published by the MPNRED, these districts are having more than 300 days of clear sunny days with solar ration level between 5.6 to 6.2 kWh per m² per day.

Under the state solar policy, land for the project will be allotted by the Government for setting up of the above mentioned projects.

The projects being set up by the company are of category II under which power/electricity from the proposed projects can be used for captive purpose and/or can be sold to any third party under a long term Power Purchase Agreement.

Under the policy, the developer(s)/investor(s) can avail Renewable Energy Certificate (REC) which can be sold on the power exchanges like Indian Electricity Exchange (IEX) and Power Exchange of India (PXI).

In addition to that the developer(s)/investor(s) can avail benefits of Accelerated Depreciation and thereby substantially reduce the Income Tax Liabilities.

 

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More literature on this...

• http://mpnred.com/Images/pdf/List_of_investors_in_RfP_opened_on_21st_May_2013.xlsx
• http://mpnred.com/Images/pdf/response_RfP.docx

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