Coal Block auction results, winners are Hindalco, UltraTech & Jindal – Day 6

 

On the sixth day of the ongoing coal mine auctions, three companies Hindalco, UltraTech & Jindal Power has won coal blocks.

Hindalco & UltraTech bagged one mine each while Jindal Power won two blocks.

With this, number of mines allocated so far has reached to 16.

Reflecting aggressive bidding for coal mines, Hindalco and UltraTech bagged one mine each while Jindal Power won two blocks on the sixth day of the ongoing auction today, taking total number of mines sold to 16 so far.

UltraTech Cement has won the Bicharpur coal mine in Madhya Pradesh bidding Rs 3,003 per tonne. It has beaten companies like ACC, Hindalco Industries, Hindustan Zinc, Jaypee Cement Corp, Monnet Ispat & Energy and OCL India. The mine is having extractable reserves of 29.12 MT.

Jindal Power Ltd bagged Gare Palma IV-2 & 3 coal mines, having extractable coal reserves of 155.49 MT, in Chhattisgarh for an estimated Rs 1,679 crore. It beat the likes of Adani Power Maharashtra, D B Power, GMR Chhattisgarh Energy, Jindal India Thermal Power, JSW Energy, KSK Mahanadi Power Company, Reliance Geothermal Power and Sesa Sterlite.

Aditya Birla Group flagship Hindalco Industries won the Gare Palma IV-5 block for an estimated Rs 14,858.9 crore. Its winning bid was Rs 3,502 per tonne. The mine has estimated extractable reserves of 42.43 MT. It beat firms including Ambuja Cements, BALCO, Hindalco and Monnet Ispat & Energy.

In the previous five days of auction, companies including GMR Chhattisgarh Energy, Reliance Cement, Sunflag Iron and Steel, Jaiprakash Associates and BALCO won mines.

Tomorrow, a single mine on sale is Gare Palma IV-4 in Chhattisgarh. The companies in race for mine are ACC, BALCO, Godawari Power and Ispat, Hindalco Industries, Jayaswal Neco Industries, Rungta Mines and SKS Ispat and Power.

Meanwhile, Jaiprakash Power Ventures today said it has successfully bidded for a coal mine in MP and a formal communication vesting the said block in its favour is expected in due course of time. Jaiprakash had bagged the Amelia (North) mine in Madhya Pradesh quoting Rs 712 per tonne.

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Aditya Birla owned Hindalco won Gare Palma coal mine

 

Aditya Birla owned Hindalco Industries have won the Gare Palma IV/5 mine in Chhattisgarh.

It has beaten companies like Ambuja Cements, Sesa Sterlite, and Balco.

This is second mine won by the company out of the 13 put on offer so far.

The price-tag for the block is an estimated. Rs. 14,858.9 crore.

The price paid per tonne was Rs. 3,502. Gare Palma IV-5 mine has estimated extractable reserves of 42.43 MT.

The company is also in the race for another coal block of Bicharpur.

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Bid Results of 250 MW Punjab Solar Tender - Indiabulls, ACME, Solaire Direct, Azure bag contracts

 

Crocus Infra of the Indiabulls group, Delhi-based ACME, French company Solaire Direct, and the American firm, Azure Power, are among those to have won mandates to put up solar power projects in Punjab.

The Delhi-based ACME group has won rights to put up 74 MW solar power projects in a bidding process put through by the Punjab Electricity Development Agency (PEDA). It has won 24 MW bidding a tariff ofRs. 7.16 a kWhr and another 50 MW for Rs. 7.06 kWhr.

The group will put up these projects with an investment of Rs. 600 crore and the electricity will be sold to the state distribution company at these tariffs.

With this, ACME’s total solar projects under development in the country have crossed the 700-MW-mark.

• Crosus picked up 78 MW (24 MW for Rs. 7.42; 50 MW for Rs. 7.56 and 4 MW for Rs. 7.45).
• Solaire Direct got up 54 MW (for Rs. 6.88)
• Azure Power 28 MW (24 MW for Rs. 7.19 and 4 MW for Rs. 7.33)

PEDA had issued a tender to buy solar electricity from 250 MW of projects. The total capacity was divided into three categories, with maximum bid-able capacity of 24 MW, 50 MW and 5 MW by a single company under each category. ACME won the highest allowed in the first two categories.

This is the second tender of PEDA. The first was in 2013, when the state selected companies to build 300 MW of solar power projects. Then, 27 companies won mandates to put up solar plants of 251 MW and sell electricity at tariffs arrived at through the bidding process. Back then, all but four of the 27 quoted tariffs higher than Rs. 8.24. Of the four, only two, of 2 MW each, were below Rs. 7.50, one of them Rs.7.47 and the other Rs. 7.20.

Punjab is a state of 50,000 sq km land, home to 27.7 million Punjabis. The state enjoys solar radiation of 5-5.5 kWhr/metre square per day.

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