Coal India to Spend Rs 12,000 Crore for Capital Expenditure, Infrastructure

Coal India Limited is planning to invest about Rs 6000 Crs towards capital expenditure in the next fiscal and an equal amount on augmenting other infrastructure, including rail connectivity.

According to a filing to BSE, CIL and its subsidiaries are proposing to invest around Rs 6,000 crore in 2015-16 towards capital expenditure. Further, an amount of around Rs 6,000 crore has been earmarked by CIL for railway and other infrastructure development for 2015-16.

 

CIL also unveiled its roadmap, of strategies to be adopted, to attain the one billion tone coal production by 2019-20. 

With the projected coal demand of the country hovering around 1,200 million tonnes (MTs) by 2019-20, at an envisaged growth rate of 7 per cent, CIL is expected to chip in one billion tonnes, of which, 908 million tonnes is the expected contribution from the identified projects.

The two CIL subsidiaries---Mahanadi Coalfields Ltd and South Eastern Coalfields Ltd (SECL) are expected to play a pivotal role in its quest of attaining the one BT production with 250 million tonnes and 240 million tonnes respectively, he said.          

In the biggest ever disinvestment exercise, the government in January sold 10 per cent stake in Coal India for about Rs 22,600 crore.

 

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SunEdison planssolar parks for commercial & industrial establishments in Tamil Nadu

 

SunEdison is planning to establish a solar park of 18 MW capacity in Tiruneveli, Tamilnadu. It is also looking at more such parks in the State as more numbers of commercial establishments and industries are expected to go in for solar power systems.

With the option of open access, there is opportunity for more number of commercial and industrial electricity consumers to go in for solar power.

The company has installed over 12 MW solar energy systems in the State and solar pumpsets are a focus area. Farmers will be able to use the land during dry months too with solar power systems.

Regarding market for solar energy across the country, company said that Gujarat and Rajasthan lend more to solar energy because of the geographical advantages. Maharashtra, Karnataka, Andhra Pradesh and Telangana have favourable solar policies.

The company sees opportunities in rural electrification scheme. Off grid installations reduce grid power consumption in rural areas and these are small panels with battery. It has done these projects in about 100 sites in different States.

 

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Rays Power Experts looks to raise Rs 400 Crs

 

Rays Power Experts is planning to raise funds of Rs 400 Crs from private equity firms.

 

According to sources, company is in discussions with Blackstone & Gujarat Venture Finance among others.

 

Rays Power sets up solar parks and provides services ranging from land identification to acquisition, supplying of solar panels and accessories, site infrastructure and maintenance, as well as installation and commissioning of projects.

 

The company is now looking to build its own solar plants and has commissioned a 100-MW solar project at Bikaner in Rajasthan. Rays Power Experts reported profit after tax of Rs 10.7 crore and revenue of Rs 230 crore in the financial year ended March 31, 2014, according to documents filed with the Registrar of Companies.

 

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Government Approves INR 578 Crore FDI proposals for two renewable energy projects

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 4 February 2015, Government has approved 11 proposals of Foreign Direct Investment amounting to INR 1075.91 crore approximately; out of which two projects are from the power and renewable energy sectors.

Solar Arise India Projects Pvt. Ltd. has sought approval for receiving FDI from overseas investors and investing downstream in various Special Purpose Vehicles (SPV) in solar power projects. The government has approved proposed FDI of Rs 216.01 Crs.

For another project that got FDI approval, BLP Wind Assets Holding Pvt. Ltd. has sought approval for setting up a joint venture firm for making downstream investments in the renewable energy sector. The government has approved proposed FDI of Rs 371 Crs.

The Foreign Investment Promotion Board (FIPB) is a government body that offers a single window clearance for proposals on Foreign Direct Investment (FDI) in India that are not allowed access through the automatic route.

The Minister of Finance, considers the recommendations of the FIPB on proposals for foreign investment up to Rs 1200 Crs. Proposals involving foreign investment of more than INR 1200 crore require the approval of the Cabinet Committee on Economic Affairs (CCEA).

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