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 expenses, the company said.

Sical, a part of the Bangalore-based Coffee Day, hopes to make the investment productive by handling coal for Tamil Nadu Electricity Board. It has obtained necessary approvals of the Ennore port. The final approval for conversion is pending from the Shipping Ministry . “We continue to work with the ministry to make it happen,” the company said.

Sical, which originally belonged to the Chennai-based M.A. Chidambaram Group, was also awarded the project to develop a mechanised iron ore handling at the deep draft berth No 14 of the New Mangalore port on a build, own and transfer basis. It is facing a similar situation there due to the ban.

The company has not invested much of its resources at the facility there. To complete the project, the company has approached the port authorities seeking permission to handle multiple cargoes.

An official of Ennore Port Ltd said since a competing facility operated by the Chettinad group is handling coal at the port, it is not possible for Sical to handle the same cargo. However, it is up to the Shipping ministry to take the final call.

Sical Iron Ore Terminals Ltd, a special purpose vehicle to manage the project, developed a six million tonnes terminal at the country's first corporatised port. The terminal, for which the company has signed an agreement with Ennore Port in July 2006, was developed on a build-operate-transfer, revenue-sharing contract with Ennore Port for 30 years, including the construction period.

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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 lots," said Santosh Kumar, director, science and technology, UT and conservator of forests. Solar plants of three categories, 1 kilowatt, 2 kilowatt and 3 kilowatt, would be provided to residents as per space of houses. One kilowatt plant requires 100 square feet area and would be able to generate 1,300 to 1,400 units of electricity in a year.

"The cost of the 1KW plant will be roughly around Rs 1 lakh and Rs 1.40 lakh with battery. A resident will get 30% subsidy," said Kumar, adding tenders would be advertised within a week for selecting competent companies and later impanel them from where people could buy the equipment.

Sources said more than two firms would be chosen for supplying the equipment. A team of technical wing of UT's science and technology department would first go through the specification and technical qualities of the products before allotting them tenders.

The Centre had selected Chandigarh and Nagpur as model solar cities, asking officials to equip government and private buildings with solar plants. At a panel discussion as part of TOI campaign, 'Chandigarh-Back to the Future', on June 9, UT administrator Shivraj Patil said the solar city project was a priority agenda for the administration and would be pursued aggressively.

Over half a dozen government buildings, including Paryavaran Bhawan, Burail Jail, Punjab Engineering College, government school of Sector 46 and police headquarters, have solar plants.

The department had some time back identified five government houses in Sector 7 for installing solar plants, as a pilot project.

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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. These shares of over 9.09 crore have a lock-in-period of three years.

The remaining 103 CCDs is for the promoter contribution of Rs 103 crore brought in according to the terms of the corporate debt restructuring package. These shares, totalling over 9.37 crore, have a lock-in-period of one year.

On Monday, Suzlon shares closed 4.93 per cent higher at Rs 11.29 on the BSE.

The Securities Issue Committee of Suzlon board approved of the allotment on Monday.

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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 crore in commercial operations in the year 2013-14, the commission had calculated it only to be Rs 1,049.91 crore.

The Commission has meanwhile posted a public hearing on this petition at its office on Tuesday.

The Board also sought a review of the order in which it was allowed a spending of Rs 1,803.81 crore on salaries and pensions against the requirement of Rs 2,551.50 crore for 2013-14.

The sum approved had fallen short by 29.30 per cent, the Board pointed out in the appeal.

 

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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, Arun Kumar Mishra said such measures would be actively promoted by the Centre and made part of the national policy [on promotion of green buildings],

Addressing the " Green Building Congress-2013" orgainsed by CII and the Indian Green Building Council, he said the Centre would hold dialogue with State governments on such incentives for green buildings.

On any financial support like capital subsidy, he indicated that it could take time as it involved "deliberations and interaction" with several ministries.

Stating the government had a role in encouraging green buildings, he said, "in government housing programmes, we plan to do about a million houses in the next four years. We have already made it a part of our instruction that any block, any State, any municipality wanting to construct these [green] buildings, will be covered in our project cost."

"We have Building Materials and Technology Promotion Council and we can enter into an MoU to promote this energy saving green technology."

Stating the Centre would also promote alternative technologies in building material, he indicated that the issue of financial support for this sector would be pursued if needed.

He said the Centre would be inclined to ink an MoU with the Green Buildings Council to sponsor a training programme for the engineers and senior officers of the Centre so that "they could be acquainted with this green technology."

CN Raghavendran, Chairman, IGBC-Chennai Chapter said over a period of time India's building footprint would be "100 billion square feet out of which 70 billion square feet will be in the residential sector, which is growing at a rate of 5 per cent every year."

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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 energy department said that the subsidy would be given on ‘first come first serve’ basis by TEDA. The subsidy wi­ll be given only to grid-connected, battery-less systems purchased from vendors approved by TEDA.

A resident of Nungambakkam sa­id he installed a one-kilo watt rooftop so­lar system with battery in his house at a cost of Rs 1.6 lakh in May hoping to get Central and state government incentives. “I was really disappointed. Only after the state government’s annou­nce­ment of Rs 20,000 subsidy, did I opt for solar system,” he said, adding that he made several visits in vain to local TNEB office to know about guidelines before going ahead with solar system installation.

Another resident of Tambaram, who has set up a solar system in his house, said that even a year after the state government came out with its solar energy policy there is no clarity in the procedures to be followed in inst­alling solar systems. “The excess power generated in the solar system is going waste as they are not allowed to be connected to the grid,” he said.

Sources in TEDA said that the state government incentive would be given only to those who are applying for solar systems through TEDA. However, sou­rces said that they would be allowed to supply surplus po­wer to the grid once the Tamil Nadu El­ectricity Regulatory Commission comes out with its order on net metering facility.

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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 raise money by selling its equity in the company to the PSU itself.

The hydro power producer has informed BSE that its board of directors has unanimously approved the buyback of up to 10 per cent of fully paid-up equity shares of Rs 10 each for an aggregate amount of nearly Rs. 24 billion. Since the government holds 86.36 per cent stake in NHPC, buyback of shares on proportional basis would mean government getting about Rs. 20 billion.

The company has a cash reserve of nearly Rs. 30 billion.

NHPC was listed on the bourses in 2009 after the government divested a 5 per cent stake and the company issued 10 per cent of fresh equity.

The government plans to raise Rs. 400 billion in the current financial year (2013-14) through disinvestment.

NHPC generates 5,702 MW of electricity from 17 hydel stations in the country. As many as seven power stations totalling 4,095 MW of capacity are under construction.

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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.

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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 Power is developing wind power projects of over 160 MW in India," Tata Power Managing Director Anil Sardana said in a statement today.

Besides wind, the company has presence in solar power generation and is also implementing hydro projects.

Meanwhile, the company saw its electricity generation from wind projects rose 43 per cent to 813 Million Units in the year ended March 2013. The same stood at 569 MUs in the previous twelve months.

This growth is mainly attributed to the Agaswadi wind farms which had an increased generation of 85 MUs and Poolavadi with 140 MUs, according to the statement.

"We are proud to have increased our wind generation capacity by a record of 43 per cent, which proves our commitment towards to generating 20-25 per cent of our total generation capacity from clean energy sources," Sardana said.

The company has an overall installed generation capacity of 8,500 MW.

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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. The Jharkhand State Pollution Control Board had raised serious objection which DVC was unable to address. The Chief Secretary Jharkhand has ordered the total shutdown of the station to save the Damodar River from further degradation.

All India Power Engineers Federation (AIPEF) in a letter to Union Power Minister has alleged that the shutdown of this station is a case of management failure on part of DVC. An enquiry into the events leading to the closure of Bokaro thermal unit and management failure needs to be ordered.

The closure of this station will cause immediate and direct financial loss to DVC as the DVC tariff is governed by CERC and capacity charges get reduced when station availability falls. Capacity charges are recovered through tariff and when station power is zero the revenue loss is immediate.

AIPEF has suggested that a task force or crisis management group may be set up to tackle the ash problem and to revive the plant.

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