tata power is developing 28.8 mw solar project in satara, maharashtra...

 

Tata Power Renewable Energy Limited (TPREL), a wholly owned subsidiary of Tata Power, is considering to develop a 28.8 MW Solar PV Project in the Satara District of Maharashtra.

The distribution arm of Tata Power, has signed a Power Purchase Agreement (PPA) to purchase power from the proposed Project which will assist the company in meetings its Renewable Purchase Obligation (RPO).

Company intends to complete the Project by December 2013.

The power will be evacuated using the EHV lines of Maharashtra State Electricity Transmission Limited (MSETCL).

Tata Power is currently having the portfolio of more than 30 MW Solar Projects.

• 25 MW at Mithapur (Gujarat)
• 3 MW at Mulsi (Maharashtra)
• 1 MW Grid Connected roof top project in Delhi (Commissioned by Tata Power Delhi Distribution Ltd)
• 60.48 kWp Grid Connected roof top project in Carnac Bunder, Mumbai
  

According to the Company's business plan, it intends to commission 50 MW of Solar Projects every year.

 

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Additional Reading...

http://economictimes.indiatimes.com/news/news-by-industry/energy/power/tata-power-to-set-up-28-8-mw-solar-plant-in-maharashtra/articleshow/21241714.cms

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Southern Region worst affected in terms of Power Deficit according to CEA Report...

 

According to the a provisional report submitted by CEA on the likely Power Supply Position of various states of India, the Southern Region of the country will be worst affected with the 9,000 MU's or 12.6%.

 

In the monthly Power Supply Position report (Provisional) report submitted by CEA for the month of June-13, the CEA has analysed and estimated provisional requirement and subsequent availability of Power for each of the states during the April to June 2013

According to the report,

• the Southern Region had highest deficit of 9,083 MU's (12.6%)
• Northern Region had second highest deficit of 4940 MU's (6.2%)
• North-Eastern Region had deficit of 252 MU's (8.4%)
• Eastern Region had deficit of 462 MU's (1.7%)
• Western Region had deficit of 761 MU's (1%)

In term of States, Uttar Pradesh topped the list with 14.5% deficit. While Gujarat and Chandigarh were having almost nil deficit. Deficits faced by some other states are:

• Maharashtra: 2%
• Kerala: 6.3%
• Karnataka: 14.7%
• Andhra Pradesh: 14.8%
• Tamil Nadu: 10.5%
• Bihar: 6.6%
• Jharkhand: 3.6%

On pan India basis the deficit was 15,498 MU's (6%)

The complete report is embedded below.

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Additional Reading...

http://economictimes.indiatimes.com/news/news-by-industry/energy/power/south-india-to-be-worst-affected-by-power-shortages-cea/articleshow/21210694.cms

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Tata power seeking local acquisition opportunities and land banks for solar and wind energy projects...

 

Tata Power, largest domestic private vertically integrated power utility seems to exploring local opportunities to acquired various generating assets.

Tata Power currently having installed generation base of over 8,500 MW and is pursuing to increase its portfolio of Renewable Energy (Wind and Solar) projects by way of new installations and acquisitions.

According to the company, due to the current stress in the power sector the generation assets are available for acquisition which shall assist the company in rapid development of its portfolio and thereby leveraging its existing businesses in the power value chain.

Further, Tata Power is actively pursuing opportunities to acquire land in strategic markets in the country such as Maharashtra, Rajasthan, Gujarat and Karnataka for Solar & Wind Projects.

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Additional Reading...

• http://www.tatapower.com/investor-relations/pdf/94Annual-report-2012-13.pdf
• http://economictimes.indiatimes.com/news/news-by-industry/energy/power/tata-power-eyes-local-acquisitions/articleshow/21210459.cms

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Green infra seems to be very close to acquired 59.5 MW Wind projects of tvs energy...

 

Delhi based, Renewable Energy Developer, Green Infra Ltd, seems to be quite close to acquire the 59.5 MW Wind Energy generating assets of TVS Energy.

Green Infra is Equity promoted by IDFC, an Infrastructure Finance Company has bided for the 59.5 MW Wind Energy Projects of TVS Energy. TVS Energy is a wholly-owned subsidiary of TVS Motor and was set up around three (3) years ago.

Apart from Green Infra, Mytrah Energy and Orient Green Power are also in the race of buying the Wind Energy Projects.

It seems that various Wind Energy Developers have started to consider the sale of Wind Projects. Many companies put up wind power capacity for the purpose of availing "Accelerated Depreciation" to get benefits of Tax Savings. 

Developers such as BP, DLF, VRL Logistics etc have closed deals to sell their Wind Energy Assets in recent past. Further, companies like Lanco Infra, Ashok Leyland and KS Oils etc have also announced their intentions to sell.

Thus the wind power assets are passing from the hands of companies for whom ‘wind’ is a non-core business activity, to the hands of ‘independent power producers’ whose very business is to generate power and sell it.

• JP Morgan-backed Leap Green, Mumbai-based Ushdev International, Bharat Light and Power, and Green Infra are among the companies that have announced plans to grow their wind businesses.
• Ushdev International, for instance, intends to raise its capacity from 90 MW to 350 MW this year, only through acquisitions. Even its existing capacity was acquired from Suzlon Energy.
• Leap Green and BLP have bought parts of DLF assets.
• Green Infra is among the earliest acquirers—in 2009, it bought a 100-MW wind farm from the British oil giant, BP, which then began the process of exiting wind business.

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Additional Readings

http://www.thehindubusinessline.com/companies/green-infra-close-to-acquiring-tvs-energys-wind-power-assets/article4935638.ece

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NVVN has signed a PPA with KSEB to supply 300 MW Power for three years...

 

NTPC Vidyut Vyapar Nigam Ltd (NVVN), the trading arm of National Thermal Power Corporation (NTPC), has signed a Power Purchase Agreement (PPA) with Kerala State Electricity Board (KSEB) to supply 300 MW power for a period of three (3) years.

 

NVVN has won the contract through Competitive Bidding process carried out by KSEB.

 

The period of PPA shall commence from March 2014. It is found that the tariff of the electricity under the PPA will be Rs. 4.50 per unit.

As per the PPA. NVVN has agreed to supply around 7.0 Billion units of power which will be sourced from Chhattisgarh.

 

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Additional Reading...

http://economictimes.indiatimes.com/news/news-by-industry/energy/power/ntpc-power-trading-arm-to-supply-300-mw-electricity-to-kerala/articleshow/21162081.cms

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Tata Power in discussion with lenders to seek waivers on penalties for loans....

 

Tata Power seems to be in discussions with various lenders to avoid/postpone the  penalties as it failed to fulfil the conditions of USD 2.3 billion loans taken for tis 4000 MW Mundra Ultra Mega Power Project (UMPP).  

 

Tata Power has failed to meet the Debt to Equity  Ratio and Debt Service Coverage Ratios (DSCR) due to inadequate tariff structure of Coastal Gujarat Power Limited (CGPL) the fully owned subsidiary of Tata Power holding the Mundra UMPP.

Though, the company had obtained waivers from the fines due to violation of the loan covenants of the previous fiscal end; the same has been expired on June 30, 2013.

Moody's Investor Service has changed the Tata Power's ratings outlook to negative considering the following:

• Continued delay in the resolution of CGPL's tariffs
• Low coal prices and stoppage of work at one of Tata Power's co-owned mines adds uncertainty over the extent to which its coal investments will be able to offset the losses.
• Uncertainty over expansion of waivers on fines by the lenders
• Adverse affects on the Debt Servicing post 2015 due to continued depreciation of Rupees (Till 2015, foreign currency debt is hedged)

 

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Additional Reading...

• http://www.livemint.com/Industry/H89kNd8DSE4VtnzskHq5PJ/Tata-Power-seeks-to-avoid-fines-on-23-billion-loans.html 
• http://www.thehindubusinessline.com/markets/stock-markets/tata-power-slips-after-moodys-downgrade/article4872603.ece
• http://www.moodys.com/research/Moodys-changes-Tata-Powers-ratings-outlook-to-negative--PR_276623

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MNRE stopped accepting new applications of off-grid Channel Partners...

 

MNRE, will not accept any new applications for the channel partners under its off-grid and Decentralized Solar Applications scheme.

 

Ministry of New and Renewable Energy (MNRE), the Central Government agency of India for promotion of renewable energy, has announced that it will not accept any new applications to become channel partners.

Under the Off-Grid and Decentralized Solar Applications scheme of MNRE, company has to become a Channel Partner with MNRE to avail subsidy and other incentives from Central Government as well as in certain cases from State Governments.

However, vide notification issued by MNRE on 11th July, MNRE has stopped receiving any new applications to become a  Channel Partner with MNRE.

As per the notification...

• There will not be any new applications accepted by MNRE; however, the applications already received will be processed by the end of July 2013.
• The existing Channel Partners will be eligible to put up applications for renewable.

Copy of the notification is depicted below...

 

Complete list of 165 Channel Partners with MNRE as on July 1, 2013 has been attached below:

 

 

 

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Additional Reading...

http://www.solarserver.com/solar-magazine/solar-news/current/2013/kw29/indias-mnre-to-no-longer-accept-applications-for-channel-partners.html

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Public issue of Inox wind ltd...

 

 

Power India found that, INOX Wind Ltd, a subsidiary of Gujarat Fluorochemicals Limited has proposed public issue of equity shares.

 

 

• The company has proposed public issue of its equity shares through 100% book building method in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
• INOX Wind has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on July 5, 2013. It can be downloaded from here.
• The proposed issue consists of a fresh issue of up to Rs. 7000 Million and an offer for sale up to 20,000,000 equity shares by Gujarat Fluorochemicals Limited.
• Shares of Gujarat Fluorochemicals Ltd was last trading in BSE at Rs.283.40; up by Rs. 3.65 or 1.30%. The stock hit an intraday high of Rs.287.75 and low of Rs.274.50.
• The total traded quantity was 6093 compared to 2 week average of 5239.

Source: Equity Bulls

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IEX along with APEx members to discuss issues related to electricity trading this month…

 

Power India found that to discuss various issues pertaining to electricity/power trading, representatives of more than 30 power bourses worldwide including Indian Energy Exchange (IEX) will meet during 5 to 7 November 2012.

 

IEX is co-hosting the annual conference of global power exchanges along with the conference of Association of Power Exchanges (APEx).

 

The agenda of the meeting includes:

• Topics related to power exchanges and markets globally.
• Impact of the shift towards renewable energy sources following the Fukushima nuclear disaster in Japan.
• Trends in the European power market such as their integration
  

London-based APEx has over 40 members, including IEX. People from over 30 countries such as the US, Australia, New Zealand, France, Germany, Italy, Spain and Norway are expected to participate in the conference from November 5-7.

Indian power market is at a nascent stage and currently there are only two electricity changes -- IEX and PXIL.

According to IEX, the daily trading volume of electricity is about 70 to 80 million units. Volumes are growing at an Compound Annual Growth Rate ( CAGR) of about 60 per cent.

IEX Director (Business Development) Rajesh Kumar Mediratta said there is good potential for having a SAARC power trading market, which would help in providing electricity to countries like Bangladesh and Pakistan.

 

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Supplemental reading…

http://economictimes.indiatimes.com/news/news-by-industry/energy/power/indian-overseas-power-exchanges-to-discuss-issues-next-month/articleshow/17034906.cms

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REC trading update for the month of October 2012…

 

Renewable Energy Certificate (REC) market is currently experiencing low volume of sales as well as lower prices on trading for the October month on account of oversupply of RECs.

 

Non-Solar RECs

• During the trading which occurred October 31, 2012; around 10,12, 660 non-solar RECs were offered for sale, out of which only 2,22,700 got sold and that too at the floor price of 1,500 per certificate (1.5 Rs/Unit) on both the power exchanges IEX and PXIL. The traded volume was lower than September’s 2,64,446.
• When the trading began, 15,06,233 RECs had been issued and were available for sale. Since 2,22,700 were traded, the market today has around 13 lakh RECs.
• According to Mr. Vishal Pandya, Director, REConnect

“Unless significant demand gets generated over last few quarter, the prices may remain subdued,”

Solar RECs

• As many as 2,964 solar RECs were put up for sale, of which 1,971 got cleared.
• On IEX, 820 solar RECs were sold for Rs 12,680 apiece. On PXIL, 971 were sold for Rs 12,500. The floor price for solar RECs is Rs 9,300.
• The firm price in Solar RECs is an indication that even with low-enforcement scenario, market is high on price due to supply side constrained, says Vishal Pandya.
• For the first time in the 18-odd months of trading, PXIL has gained some market share. Till last month, IEX’s share used to be well over 90 per cent. In today’s trading, IEX got 59.4 per cent of the market, and PXIL the other 40.6 per cent.

 

(RECs are generation-based ‘certificates’ awarded (electronically, in demat form) to those who generate electricity from renewable sources such as wind, biomass, hydro and solar, if they opt not to sell the electricity at a preferentially higher tariff. These certificates are trade-able on the exchanges and are bought by ‘obligated entities’, who are either specified consumers or electricity distribution companies. These obligated entities may either required to purchase a certain quantum of either green power or RECs. Trading happens on the last Wednesday of each month. Within the obligation, there is a small slice carved out for solar-RECs, or RECs from solar power generators.)

 

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