The approximate order value is Rs 119 Crs and is scheduled to be completed in thirty-two months.
The USD 4-billion Avantha group has business interests in diverse areas, including pulp and paper, power transmission and distribution equipment and services, food processing, farm forestry, chemicals, energy, infrastructure, information technology (IT) and IT-enabled services.
Adani Power has submitted 11 bids for six of a total 19 blocks being auctioned under the second phase of the coal block allocation process
These blocks belong to Schedule-III of the auctioning process. With this, Adani becomes the largest bidder in the coal block allocation process, followed by Naveen Jindal's Jindal Steel & Power followed with eight bids, four each for two blocks.
The technical bids for these 19 blocks was opened on Sunday.
Adani has bid for the blocks, which are about-to-produce mines and has no end use infrastructure specified.
Several coal blocks have received tremendous response in terms of bidding. Gare Palma-IV/8, with a capacity of 107 million tonnes, has 13 bidders in the fray, with four bids from JSPL alone. The block belonged to Jayaswal Neco. Utkal C coal blocks and Ganeshpur also saw high number of bidding.
The e-auction will begin on MSTC portal from February 25 running till March 3.
Government has divided the coal blocks into two verticals - regulated and unregulated.
The regulated section will have reverse bidding and the end-use specified is power. For the unregulated sector, forward bidding model will be used.
Gulf Jyoti International LLC Dubai, a joint venture of Jyoti Structures Ltd and Gulf Investment Corporation of Kuwait have secured several prestigious export and domestic orders for transmission lines.
The projects include
According to sources, US based renewable energy major First Solar is actively evaluating possibilities for setting up a solar modules manufacturing facility in India.
According to the company the move is to tap into the country’s growing renewable power market given the Government’s recent thrust on the sector.
However, the company hasn't yet made a decision as it depends upon how demand develops over the next several years.
As said by the Company
"We have continuously evaluated the possibility of putting manufacturing in India and there are many reasons that it might, at some point, be attractive. We need to see continuous and sustainable demand and we need to see visible demand into the future before it will justify the level of capital investment that is involved.”
During the RE-INVEST, First Solar has committed to to build projects to generate 5 GW of solar power in India by 2019.
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.
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
Reliance Cement Mine
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
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.
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.
Country's biggest lender SBI has said it will finance 15,000 mw renewable energy over the next five years.
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.
