Andhra Pradesh signs MoUs for 4200 MW of Renewable Energy Projects and unveils policies for Solar & Wind Energy

 

Andhra Pradesh Government signed Memorandum of Understanding (MoUs for generation of 4,000 MW of wind power and 200 MW of hybrid power in the State during the first Renewable Energy Global Investors Meet and Expo (RE-INVEST).

Andhra Pradesh Government also policies for the wind and solar power projects. 

According to the State Government, around Rs 8.5 billion investment is expected in the transmission & distribution and a huge investment in solar power projects.

The State Government has assured the green energy investors speedy clearances, several exemptions, faster execution schemes, vast land bank, committed bureaucracy and political will for the effective and efficient development of Renewable Energy Projects in the State.

The State Government has proposed the investors to enter into tripartite agreements with the State Discoms and State Government.

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GMR & Reliance Cement have received one mine each in the first coal mine auction

 

In the first coal mines auction conducted today, GMR & Reliance Cement have received one mine each for an estimated amount of Rs 1,375 Crs & Rs 798 Crs respectively.

GMR Mine

• GMR Chhattisgarh Energy won the Talabira-1 coal block in Odisha,
• Adani Power, Essar Power, Sesa Sterlite and others were in race for this mine
• GMR received the mine by reverse bidding at Rs 478 per tonne.
• The mine has extractable reserves of 28.77 million tonnes.
• The mine was reserved for the Power Sector.

Reliance Cement Mine

• Reliance Cement won the Sial Ghoghri coal mine in Chhindwara district of Madhya Pradesh.
• Hindustan Zinc and OCL Iron & Steel were in reace for this mine
• Reliance Cement received the mine by reverse bidding at 1,402 per tonne
• The mine has total reserves of 29.38 million tonnes and extractable reserves of 5.69 million tonnes.
• The block was allotted to Prism Cement earlier. This mine is earmarked for the non-power sector.

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Welspun Renewables Makes a Green Energy Commitment of 11,001 MW

 

Welspun Renewables, India’s leading renewable energy generator has pledged to set up mega 11 GW solar and wind projects across the country.

The 11001 MW capacity will be developed as 8660 MW of solar and 2341 MW of wind power projects. . In line with supporting Prime Minister Narendra Modi’s vision of 100 GW, Welspun Renewables will be formally announcing this commitment in the presence of Honorable Shri Modiji and other prominent global and national policymakers tomorrow morning at RE-INVEST.

Statement made by Mr. Mittal on this occasion: “We believe in Honorable Prime Minister Modi’s vision and are committed to doing our utmost in exponentially increasing India’s green energy capacities. Under the aegis of Shri Modiji India has emerged as one of the most conducive regions for renewable energy development. Our 11001 MW commitment is a direct reflection of how the solar and wind energy industries will be growing in the future. We would like to thank both the MNRE and the state governments for giving us their support in developing our current and previous projects.”

Welspun Renewables will be commissioning over 1 GW of solar and wind capacities well within this calendar year - December 2015.

Source: Welspun Press Release

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JSW Energy plans to raise Rs 5,000 crore via QIP

 

JSW Energy is planning to raise Rs 4,000 crore to Rs 5,000 crore in several tranches through a qualified institutional placement or QIP programme, according to reports.

 

Report said that the money will help fund acquisitions after the company completes the purchase of three hydro power plants.

Earlier, the board approved a fresh fund-raising plan of up to Rs 5,000 crore to meet growth opportunities, capital expenditure requirements and general corporate purposes.

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2,66,000 MW Renewable Energy Projects commitment given by 293 companies

 

During the first Renewable Energy Global Investors Meet (RE-Invest), commitment to develop as much as 2,66,000 MW of Renewable Energy Projects has been given by around 293 companies. 

Some of them have also assured to put up equipment manufacturing plants as well.

 

• Renewable energy companies including Suzlon and Gamesa have committed to manufacture equipment to help generate 11,000 MW and 7,500 MW of power respectively to be used in the non conventional energy side.
• Country's largest power producer NTPC has also said it would generate 10,000 MW of power through green sources in the next five years.
• Among others are Welspun Energy with a target to generate 11,000 MW renewable energy, followed by ReNew Power 11,500 MW capacity, Reliance Power 6,000 MW, Hindustan Powerprojects 10,000 MW and Sun Edison 15,000 MW.

Country's biggest lender SBI has said it will finance 15,000 mw renewable energy over the next five years.

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SBI commit Rs 75,000 Crs loan for 15,000 MW of Renewable Energy Projects

 

State Bank of India (SBI) committed Rs 75,000 Crs for the 15,000 MW capacity of Renewable Energy Projects to be executed in next 5 years.

Current exposure of SBI is Rs 1,78,000 Crs in the power sector including conventional energy projects as well as Distribution Utilities.

However, SBI has denied any concessional rate of interest for the Renewable Energy Projects as per the current norms. According to it the rate be reduced provided RBI classifies the renewable energy in the priority sector lending category which would provide incentives to banks for lending to this segment.

As per RBI norms, banks have to necessarily lend 40 per cent of the total loans towards priority sector category.

 

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Aggressive bidding in coal e-auction to hurt power sector…

 

According to some of the Power Sector Bidders, the aggressive bidding by some of the bidders would lead to disaster in the tariff and capital cost of the power projects.

Several bidders have taken a very aggressive call discounting the mining fee by making money elsewhere such as coal sizing/handling costs, washing costs, selling of rejects/middling in open market, port charges, transportation/shipping costs etc. in their landed price of coal to their power plant.

This will lead to a chaos in the sector and will hamper the sustainable growth of the coal sector.

It was expected the Power Ministry will prepare new Standard Bidding Documents & Guidelines by incorporated the past experience and plugging all the loopholes to encourage the bidders to bid for serious and mature bids which will be sustainable in the future and provide overall growth in the Sector.

However this philosophy is not evident in the present coal block auction process and the entire process is plagued with several important loopholes.

If the present auction process continues in the same way then it will defeat the sole purpose of the sustainable and transparent growth in the sector and will lead to a complete failure of the system which will end up providing control of the majority of the mines in the hands of few mighty bidders only.

The sector experts also pointed out that aggressive bidding will also not encourage investments in the sector. Some even suggested that the best solution today will be to handover these mines to Coal India in the interim and let the Ministry to develop a full-proof bidding guideline first so that the serious & sustainable bidding takes place leading to an overall growth of the coal sector.

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CLP India awards 100 MW wind power project in MP to Gamesa

CLP India, the Indian subsidiary of Hongkong-based power company CLP, has awarded a 100MW wind power project in Madhya Pradesh to wind energy firm Gamesa. 

The project is a turnkey project to construct 100MW wind farm in Chandigarh, Madhya Pradesh. 

The Chandigarh project is due for commissioning in December 2015, it added. 

The new wind project will increase CLP India's wind power portfolio close to 1100MW across six states - Rajasthan, Gujarat, Maharashtra, Tamil Nadu, Karnataka and Madhya Pradesh. 

Gamesa will handle the entire infrastructure needed to set up and operate the wind farm, including installation of 50 new G97 2.0 MW turbines with extended hub height of 104m. The G97-2.0 MW- T104m turbine is specifically designed for Indian wind conditions at low wind speed sites offering low cost energy, thereby improving operational efficiency. 

The contract also includes a long term operation and maintenance service.

Gamesa had commissioned 60MW wind farm in Jath, Maharashtra in March 2014 for CLP India. 

This new contract puts Gamesa's 2014 Indian order intake at 850 MW. From January to September, India accounted for 27 per cent of the MW sold by Gamesa. 

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WAAREE Energies ramps up solar PV module manufacturing capacity to 500 MW in Gujarat…

 

WAAREE Energies Ltd. has completed the installation of an additional 250 MW of solar photovoltaic (PV) module manufacturing capacity, bringing the company's total annual manufacturing capacity to 500 MW.

With this installation, WAAREE's manufacturing plant in Surat, Gujarat has become the largest single location solar PV module manufacturing facility in India.

Earlier, WAAREE Energies have managed to secure ~40% of module supply contract in the DCR (Domestic Content Requirement) category, under National Solar Mission Phase II tenders.

In order to meet the huge demand from Europe, UK, Japan & African countries, apart from the Indian markets, Company is already working to expand the production capacity to 1,000 MW which will be completed in the next four months.

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Alstom T&D secures Rs. 138 Crore contract from PGCIL...

Alstom T&D India has secured a Rs 138 crore (approximately Euro 17 million) contract from Power Grid Corporation of India Limited (PGCIL) to supply transformers and reactors for the expansion of 400/220 kV grid substations across southern India. The project is part of Power Grid’s System Strengthening Scheme to boost power handling capacity of substations, and stabilise the transmission infrastructure in southern India.

 

Under this new contract, Alstom will supply six units of 400/220 kV, 500 MVA transformers and two units of 420 kV, 125 MVAr shunt reactors. All equipment will be supplied from Alstom T&D India’s manufacturing facilities across the country.

 

This is Alstom’s second win to strengthen the country’s transmission infrastructure under the System Strengthening Scheme. The first power transmission reinforcement contract was awarded in July 2014 to expand 400/200 kV grid substations across eastern India.

 

Rathin Basu, Managing Director, Alstom T&D India, said, “Winning a second project under the System Strengthening Scheme is a major achievement for Alstom, confirming our industrial expertise and leadership. We are delighted to continue contributing to the development of India’s national grid infrastructure.”

 

Source: Business Standard

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