News Update

News Update

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Business Standard PTC India Fin Q4 net doubles to Rs 110 cr on diversified loan portfolio

PTC India Financial Services (PFS) has reported a 124 per cent rise in standalone net profit to Rs 110 crore for fourth quarter ended March 2017.

The Economic Times Anisha Dutta Work begins on Indias first green energy corridor project

India today conducted the ground-breaking ceremony for its first green energy corridor project with an ultra high-voltage direct current (UHVDC) link over 1,800km with the aim to bring power to 80 million people

Business Standard Shine Jacob & Shreya Jai NDAs energy plan powered UP win, but not winner yet

Many called it ‘Pradhan Mantri Uttar Pradesh Yojana’ since more than 30 per cent of the beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY), aimed at giving LPG connections to families below the poverty line, were in the Hindi heartland, where the BJP managed a stupendous electoral victory in March

The Economic Times Debjoy Sengupta GST may push up cost of solar power projects

The goods and services tax may increase solar energy project costs by 12%-18% and generation costs by 40-50 paise per unit, some industry leaders said, although the government said the new taxation regime won’t have much of an impact on them.

Business Standard Nirmalya Behera Lower radiation to take away Odishas edge as solar power hub

Lower solar irradiation may impede the prospects of Odisha to match solar tariff rates which have plunged to a new low of Rs 2.44 per unit in the recent auction conducted for Bhadla solar park in Rajasthan.

The Economic Times Dipanjan Roy Chaudhury Modi governments solar alliance gets approval from 5 African countries

The Modi government's key renewable energy initiative -- International Solar Alliance (ISA) -- on Monday received boost when Djibouti, Comoros, Cote d’Ivoire, Somalia and Ghana signed the ISA framework agreement on the sidelines of African Development Bank (AfDB) meeting in Gandhinagar -- aimed a boosting Indo-African ties.

Business Standard Shine Jacob Railways appoints consultants for GST impact assessment

Indian Railways has appointed lawyers V Lakshmi Kumaran and V Sridharan as consultants to prepare it for the goods and services tax (GST), apart from conducting an impact assessment.

The Hindu Businessline Port development key to nation’s economic prowess, says PM

Prime Minister Narendra Modi on Monday expressed the hope that Kandla port in Gujarat’s Kutch district and Chabahar port in Iran will script a new development cooperation in the region.

Business Standard Jayajit Dash JSW Group wants to develop commercial port in Odisha

The Sajjan Jindal-controlled JSW Group is keen to set up a commercial port at the mouth of the Jatadhari, Odisha, and 13 km south of the Paradip port.

The Financial Express Ministry of New and Renewable Energy plans to push auction route for wind power

The ministry of new and renewable energy (MNRE) has proposed to allow state-owned power distribution companies (discoms) to conduct reverse auctions for procuring wind power.

The Economic Times Rajat Arora Railways to allow private companies to run own freight trains

Indian Railways will soon allow private companies to run freight trains from their own private terminals, a move which could potentially break the monopoly of the national transporter on the country's rail roads.

Business Standard Shine Jacob Brands to get a ticket to ride on Indian Railways

The world of commercials is set to invade the spaces of trains in India, both inside and outside, giving the passengers a feeling familiar to the experience of seeing billboards while driving along highways or sitting in Metro trains.

The Hindu Businessline Railways supply chain goes digital

The Indian Railways is set to launch digital contract, a system of digitisation of its entire supply chain across all zones.

The Hindu Businessline V Sajeev Kumar Trans Asian Shipping to launch coastal service linking Maharashtra, Kerala ports

Kochi-based Trans Asian Shipping Service will introduce a fortnightly coastal shipping service linking Dharamtar Port in Maharashtra and the ports in Kerala.

Business Standard Looking to bring down cost of borrowings: PFS

PTC India Financial Services Ltd (PFS) is looking to bring down its cost of borrowings and is in discussions with various entities for competitive costs, the company said in its annual report. 

The Economic Times Aman Sharma Projects worth Rs 20 lakh crore set to get green light from key PMO group

Roads, coal, power and railways comprise bulk of the projects while land and environment issues accounted for the majority of clearance hurdles. Roughly half the projects are public sector and the rest private plus PPP (public-private partnership). ET spoke to senior PMO officials closely associated with the effort. They spoke on the condition they not be identified.

Business Standard PFS gets Financial Institution tag under SARFAESI Act

 Government has specified PTC India Financial Services Limited (PFS) as a 'Financial Institution' (FI) under SARFAESI Act, 2002, a status which would help recover loans effectively. 

The Economic Times Saikat Das Greenko raises 500 million via India’s first high-yield green bond issuance

 Hyderabad-based Greenko Group has raised $500 million by selling green bonds to overseas investors, marking India's first high-yield issuance of its kind.

The Economic Times Debjoy Sengupta Energy PSUs to fund fertiliser plants in UP

 Top state-run energy companies are going to make heavy investments including more than Rs 5,000 crore in equity in a special purpose vehicle to revive fertiliser plants in poll-bound Uttar Pradesh as well as Bihar and BJP-ruled Jharkhand, in a government-directed move that will deliver on promises made by Prime Minister Narendra Modi.

The Economic Times Vedanta merger: Cairn calls shareholders meeting on September 12

 Cairn India has called a shareholders' meeting on September 12 to seek approval for the company's takeover by its parent Vedanta Ltd under a revised all-share deal

Bloomberg / Financial Express Rajesh Kumar Singh India Coal Ministry Said to Seek Environment Tax on Petcoke

 India’s coal ministry, at the urging of state miner Coal India Ltd., is asking the government to levy an environmental tax on a competing fuel in effort to maintain coal’s cost-competitiveness, according to people with knowledge of the matter.

Business Standard Power generation up 7.13 in Apr-Jun at 391 billion units

 India’s total power generation rose by 7.13 per cent in April-July FY17, to 391.16 billion units, Parliament was informed on Thursday

Business Standard Sanjay Jog Kudankulams 2nd unit to be connected to grid by Sept

 Nuclear Power Corporation of India (NPCIL) hopes the second unit of the Kudankulam nuclear power plant in southern Tamil Nadu, with generation capacity of 1,000 megawatt (Mw), will be connected to the grid by September

Business Standard Hike in coal royalty may make power costlier by 10-12 p/kwh

 States' demand to hike royality rates on coal to 30 per cent, if accepted, would push up the cost of electricity by 7 per cent or 10-12 paisa/kWh, a report has said. 

The Hindu Business Line Only Coal India can extract CBM from its blocks: Oil Ministry to Parliament panel

 The Ministry of Petroleum and Natural Gas has clarified to a Parliamentary committee that only Coal India is allowed to exploit coal bed methane (CBM) from its existing coal blocks.

The Economic Times 1.3 GW solar power generation capacity added in April-July

  India has added around 1,300 MW of solar power generation capacity in the April-July period this fiscal, Parliament was informed today.

First Post / Financial Chronicle Chinas state-owned firm to build 4.44 bn rail line on Bangladesh bridge

 China's state-owned firm has been awarded the contract to build a 4.44-billion US dollars railway line passing through Bangladesh's largest bridge which is currently under construction, a media report said on Thursday

Business Standard Shine Jacob Oil India wants to develop a major oil belt in Rajasthan: Utpal Bora

 OIL India Ltd is set to usher into a new era with roadmap drawn to ramp up production and diversification plans to foray into liquefied natural gas (LNG) business on track. 

Reuters / Financial Chronicle Oil up 4 percent as Saudis mull meeting, tighter market forecast

 Oil prices jumped the most in a month, rising more than 4 percent on Thursday, after comments from the Saudi oil minister about possible action to stabilize prices triggered a round of buying and the International Energy Agency forecast crude markets would tighten in the second half of 2016.

The Economic Times No proposal to convert major ports into corporate companies: Nitin Gadkari

 There is no proposal to convert major ports into corporate companies, Shipping Minister Nitin Gadkari said today, emphasising that government ports have been showing better performance than the private ones.

The Economic Times Rajat Arora Government owned ports grow at 5 per cent

 The government owned major ports have registered a steady growth of 5 per cent during the period between April and July. Currently, there are 12 major ports in India.

The Economic Times Saikat Das UDAY bonds receive a warm response from banks and mutual funds like Axis Bank, UTI Mutual and others

 Investors are answering the doubting Thomases on Power Minister Piyush Goyal pioneered UDAY Bonds - securities sold to restructure states owned power distributors - with a thumbs-up. Top banks and mutual funds such as Axis Bank, State Bank of India, UTI Mutual, and Kotak Mahindra are lapping up the sovereign bonds' proxy from state governments, which boost the returns.

The Economic Times Debjoy Sengupta CIL offers 2.8 million tonnes of coal via e-auction

 Coal India has offered around 2.8 million tonnes of coal in 5-10 years supply contracts to sponge iron manufacturers through an e-auction. As of Monday end, it received bids for around 1.6 million tonnes, or 57% of the volume on offer, a senior Coal India official said.

The Economic Times Sarita Singh Cheaper, easier loans for green energy projects

 Renewable energy has received a big financial stimulus as loans have become easier and cheaper for projects because there are hardly any projects in pipeline for the conventional thermal and hydropower sectors. 

The Economic Times Sarita Singh NTPC sells surplus power on India Energy Exchange NHPC, NLC to follow

 India's largest power producer NTPC has started trading surplus electricity on power exchange.

The Economic Times Sanjeev Choudhary ONGC manages to halve exploration cost -offs

 State-run Oil and Natural Gas Corp (ONGC) is trying hard, and succeeding, in lowering its exploration cost write-offs, one of the biggest concerns for all oil firms. The write-off has nearly halved in a year and is expected to shrink further.

Business Standard Shreya Jai Sterlite Grid eyes Rs 3k-cr funds via infra trust

 Sterlite Grid Power Ventures has applied to raise funds through Infrastructure Investment Trusts (InvITs), the first power infrastructure company to do so.

Business Standard Aditi Divekar Cochin Shipyard, Global United bid for 7-bn LNG tender

 The Make In India initiative launched by the government in 2014 seems to be taking shape on the ground. Last month, state-owned Cochin Shipyard and Chennai-based Global United Shipping India proposed a joint bid under the build–operate–transfer model for six new liquefied natural gas (LNG) vessels for gas utility firm GAIL, making it the only Indian bid for the country’s biggest shipping tender.

Business Standard Hamsini Karthik Welspun deal positive for Tata Power

 Acquisition of Welspun Renewable Energy with a capacity of 1,140 Mw takes Tata Power closer to its objective of generating 30-40 per cent of power through renewable energy by 2025. With 990 Mw capacity dedicated for solar energy, the acquisition will help Tata Power scale up its renewable portfolio to 2,300 Mw (the current comprises operating capacities of 550 Mw of solar energy and 240 Mw of wind power, 245 Mw of solar power is under execution). While the Street wasn’t enthused, given that the Tata Power stock after registering a 52-week high on Monday, ended flat at Rs 75.75 a ...

Business Standard Megha Manchanda Interlinking of highways on anvil

 In an ambitious plan, the government has prepared a roadmap to connect some of the major national highways in the country. The proposal aims at inter-linking the highways from North to South and East to West in the pattern of a grid, allowing smooth and uninterrupted access from one region to another.

The Hindu Business Line RAJESH KURUP Sterlite Power files papers for InvITs

 Sterlite Power Transmission Ltd (SPTL), a company that was demerged from Sterlite Technologies, has filed initial papers with market regulator SEBI for raising funds through Infrastructure Investment Trusts (InvITs) on Monday. The company has filed for InvITs through its subsidiary Sterlite Power Grid Ventures.

Financial Express Huma Siddiqui PM Modi’s Africa visit: From energy security to infra – 6 things on his agenda

 Energy security, food security, ‘blue economy’, education, health, skill-building and infrastructure will be the key topics of discussion during Prime Minister Narendra Modi’s visit to the African continent next month

Financial Express Siddhartha P Saikia OVL puts on hold 11 buy in Rosneft Vankorneft ball in Narendra Modi court for better deal?

 The board of ONGC Videsh (OVL) has put on hold a proposal for acquisition of 11% in Rosneft’s Vankorneft that runs the Vankor oil and gas fields in East Siberia. The OVL board wants the government-owned explorer to negotiate a “better price” for the 11% deal as compared with a 15% purchase in the same asset in September 2015.

Mint Mayank Aggarwal Govt lays out road map for adoption of fuel cell technology

 The central government on Monday released a draft report that lays down a road map for the use of hydrogen energy and fuel cell technology in the transport sector as it tries to broaden the green economy in India.

Mint Mayank Aggarwal Adani Power’s new plant and expansion plan hit roadblocks

 An expert panel of the environment ministry has dealt Adani Power Ltd a double blow by putting its 1,600 megawatt (MW) power plant in Jharkhand on hold in the absence of details regarding the water required for it and asking the firm to scout for another location to expand its existing 4,620 MW power plant in Mundra, Gujarat.

Mint Kalpana Pathak Indian Oil aims to improve refining margins this fiscal

 Falling oil prices seems to have bottomed out, raising hopes of better margins for oil refiners in India.

The Economic Times Kaavya Chandrasekaran Capacity for renewable energy in India hits 42,850 mw surpasses capacity of hydel projects

 India's quest for green energy has crossed a major milestone, with renewable plants, mainly wind and solar, surpassing the capacity of large hydroelectricity projects, which were once the country's biggest source of electricity and regarded as "temples of modern India".

Hindu Business Line DEBABRATA DAS Coal linkage auction set to kick-off today

 For the first time in its history, Coal India Ltd on Friday will begin the process of giving coal linkages or fuel supply agreements to customers on the basis of a transparent auction, similar to telecom spectrum auctions.

The Economic Times Arijit Barman Greenko energy Holdings pegged at 1 billion after ADIA, GIC arms invest 230 million

 Petro dollars from Abu Dhabi are increasingly eyeing a bigger piece of the green energy action in India. Just six months after making its first bet in the country, the Emirates' sovereign wealth fund Abu Dhabi Investment Authority (ADIA) on Tuesday announced its second investment in the sector, signing a definitive agreement with Greenko Energy Holdings.

The Economic Times Debapriya Mondal DHI extends cut-off date for power companies to apply new quality control regulations

 In a big relief to both manufacturers of electrical transformers and power distributors, the Department of Heavy Industry (DHI) has extended the cut-off date to apply new quality control regulations for the supply of equipment.

The Economic Times Kaavya Chandrasekaran Ministry plans phase II of solar parks, doubles target to 40,000 MW

 The Ministry of New and Renewable Energy (MNRE) is planning a second phase of setting up solar parks across the country, twice as ambitious as the first. Unlike the previous one, the new round will set aside a portion where the solar power producer will also have to set up facility to store the energy in batteries.

The Economic Times Yogima Sharma New market-driven energy policy by NITI aayog may woo private investors

 The Narendra Modi-led NDA government is readying for next phase of reforms in the energy sector that will seek to end monopoly of state owned enterprises and facilitate entry of private​ players.

Hindu Business Line Private power distributors likely to get ‘operational benefits’ of UDAY scheme

 The Power Ministry would soon approach the Cabinet to seek approval for enabling private sector electricity distribution companies (discoms) to get operational benefits of the Ujwal DISCOM Assurance Yojana (UDAY).

Financial Chronicle Michael Gonsalves Suzlon launches tallest hybrid towers to reduce energy cost .

 Wind turbinemaker Suzlon is introducing the next generation turbines generators called S111-120 metre hybrid tower in the Indian market

Financial Express Sumit Jha States with large power deficits not buying cheap spot power, here’s why

 States with large power deficits have refrained from tapping the fledgling market for spot power, even as electricity is available at much cheaper rates there, than under long-term power purchase agreements (PPAs). While the stressed finances of the state electricity boards (SEBs) is one reason for this, paucity of distribution infrastructure and in some cases sheer unwillingness to try a new mode of purchase also circumscribed the growth of the spot market.

Financial Express Boosting solar power: Tenders gather pace as NTPC, SECI bid for 750 MW

 The solar power tenders continued to gather pace in May as state-owned NTPC and Solar Energy Corporation of India (SECI) bid out a total of 750 MW in Andhra Pradesh and Telangana under the national solar mission this week.

Mint Rajesh Kumar Singh Smartphone apps help bring reliable power to 1.3 billion people

 At any given minute in India, you can find out how much electricity is for sale and at what price with a few swipes across a smartphone screen—a level of transparency in the nation’s power sector that’s increasing the odds of far-reaching change to end blackouts.

Mint Anindya Upadhyay India to auction wind projects to meet PM Modi’s 60-gigawatt target

 India will introduce competitive auctions for wind farms this year in a bid to fulfil Prime Minister Narendra Modi’s goal for 60 gigawatts (GW) of capacity by 2022.

Mint Gireesh Chandra Prasad Solar power’s moment under the sun

 India’s aspiration for minimizing the environmental cost to economic development by meeting 40% of its energy needs from non-fossil fuels by 2030 has made its nascent solar power industry the destination for global investors, creating growth opportunities for a host of businesses in the entire electricity value chain.

The Economic Times Kaavya Chandrasekaran Central ministries to pledge to produce 5,000MW solar power

 The Centre will now lead by example in propagating the use of solar energy . At a workshop on rooftop solar to be in New Delhi on Tuesday, 50-odd central ministries will pledge to install solar panels on the rooftops of the buildings they occupy as well as on vacant lands they own to produce power. 

The Hindu Business Line G Balachander With solar boom, MNRE targets 16,660 MW of fresh capacity

 The Union Ministry of New and Renewable Energy (MNRE) has set the highest ever capacity addition target for the clean power sector this fiscal. It has set a new capacity addition target of 16,660 MW – close to four times the capacity target that the government set in the previous year. In the current fiscal, solar segment is expected to achieve its highest-ever annual capacity as the target has been set at 12,000 MW, followed by wind (4,000 MW), bio power (400 MW), small hydro (250 MW) and waste-to-power (10 MW), according to MNRE.

The Hindu Business Line Maulik Madhu Charging up the power sector

 From providing a lifeline to the ailing state-owned power distribution utilities (discoms) in the form of UDAY (Ujwal DISCOM Assurance Yojana) to ramping up the country’s traditionally neglected transmission network to boosting domestic coal supply, providing subsidised gas to stranded fuel-starved plants and introducing e-auctions for short-term power purchases by discoms, many initiatives have been introduced.

The Economic Times Kaavya Chandrasekaran Adani Arm May Tie up with SunEdison for 2B Solar Foray

 Adani Green Energy Ltd, the renewable energy arm of the Adani Group, is considering a technical partnership with global major SunEdison Inc for its $2-billion foray into integrated solar manufacturing.

The Hindu Business Line G Balachandar India among top 5 green energy markets in 2015: report

 The 2015 global renewable energy development had a strong Indian flavour to it, with India being ranked among the top five nations in new investments, and in the top four as regards creating jobs in the green energy sector. Emerging markets broke the record in 2015 by committing larger investments than developed nations. China led with more than double the investment of the next largest investor, the US, followed by Japan, the UK, and India, according to a report by the Renewable Energy Policy Network for the 21st Century (Ren21). While China, the US, Japan and the UK maintained their positions relative to 2014, India moved up to displace Germany, which saw a sharp drop in investment

The Hindu Business Line Nayanima basu Road clear for Adani’s coal mine project, says Australian envoy

 The way is now clear for Adani’s Carmichael Mine project even as it has obtained all environmental clearances and other necessary approvals, according to Harinder Sidhu, Australian High Commissioner to India.  The Adani investment proposal has now got the environmental approvals. It has everything it needs now. The way is now clear for Adani,” Sidhu said during an event by ICRIER on Wednesday.

The Economic Times India won’t need extra power plants for next three years, says government report

 India won't need any new power plants for the next three years as it is flush with generation capacity, according to a government assessment. But, ironically, more than a third of the country's population still lives without power. 

The Economic Times Renewables row with US: Union Power Minister Piyush Goyal for dialogue, amicable solution

 Government has decided against dragging the US to the WTO for alleged violation of the world trade body's norms on renewable energy as it prefers a bilateral solution , Union Power Minister Piyush Goyal said today. 

Mint Mayank Agarwal 2015 saw record surge in renewable energy: report

 2015 saw a record addition of 147 gig watts (GW) of renewable power worldwide and investment of around $286 billion, a report released Wednesday said, lauding the achievement which came at a time when fossil fuel prices were at historic lows.

Business Today Anilesh Mahajan "We can tell the world that India is now power surplus"

 The best thing to have happened in the whole process is the emergence of a 'Team India' spirit in the working of the government. The entire ecosystem works as one cohesive unit. People don't do ministry inter se, governments inter se or departments inter se. There is a lot of informal consultation, discussion and decision making, which has sped things up massively. Two years later, retrospectively, I believe the PM was a visionary to have realised the close interplay between these three ministries. For many years, these ministries could not perform to their true capabilities because each of them was running in a different direction. Now, when they are running together, in the same direction, you can witness the change in the country's power sector.

Business Standard Power workers threaten to go on strike over electricity bill

 Power sector employees have threatened to go on a day-long strike if the government tables the electricity bill in the Parliament without a discussion with them. 

Mint Power deficit may reach 5.6 by fiscal 2021-22: Study

 Country’s power deficit may rise to 5.6% by fiscal 2021-22, from 2.6% of peak demand in the last fiscal, on demand overtaking supply, a study said on Monday

Financial Express Sumit Jha Power sector wakes up to Rs.30k-cr opportunity

 More than three months after the tariff policy amendments were unveiled by the government, the power sector is waking up to an obscure provision that has the potential to attract over Rs.30,000-crore investment into sewage water treatment plants around thermal generating stations.

The Economic Times Sarita Singh Panel set up to look into rising NPAs of power PSUs

 The government has constituted a committee to look into the sharp rise in non-performing assets of state-run power sector financiers , Power Finance Corporation ( PFC ) and Rural Electrification Corporation ( REC ), over the last financial year.

Financial Express Sumit Jha Fixing power: Franchisee discom model makes a comeback Rajasthan to hand over distribution in Kota & Bharatpur to CESC

 After a long lull, there are now takers for the franchisee model in power distribution business. The debt-ridden Rajasthan government will hand over the distribution business in two cities in the state — Kota and Bharatpur — to CESC, owned by the RP-Sanjiv Goenka Group, shortly. CESC, which won the bids floated by the debt-ridden state electricity board (SEB), will have to make a mandatory investment of Rs 1,525 crore and Rs 477 crore for Kota and Bharatpur, respectively, over 15 years

Business Standard Jyoti Mukul India global 5th in green energy jobs, China on top

 India ranks fifth in the world in renewable energy (RE) job creation, with 416,000 employed in the sector during 2015. In the world, 8.1 million persons are employed in the clean energy space. China tops the list with 3.5 million, followed by Brazil with 918,000.

Hindu Business Line Rays Power eyes rooftop solar projects for growth

 Solar energy company Rays Power Infra is eyeing the emerging opportunity for rooftop solar power solutions while promoting the new leased approach to solar power projects.

The Economic Times Debjoy Sengupta Reverse e-auction lowering power prices: Ind-Ra

 Price discovery for power through the recent e-auction mechanism has been lower than bilateral power prices, thus pushing down reference prices for short-term power, said India Ratings and Research ( Ind-Ra).

The Economic Times Renewable energy employed 8.1 million in 2015: IRENA

 The global renewable energy sector employed more than 8.1 million people last year, a 5 per cent increase that bucked an overall downwards market trend, a green energy organisation said Wednesday.

Business Standard Shreya Jai Expect SMS before power outages, supply s & technical glitches

 Irked by unscheduled power cuts in your area? Soon, you will be able to track power cuts, demand-supply shortfalls and other glitches through a mobile application and a web portal. You will also get SMS and flash message alerts about these.

Business Standard Domestic electronics makers welcome new domestic sourcing norms for power sector

 The Indian Electrical & Electronics Manufacturers' Association (IEEMA), which is the representative body for the sector welcomed the new domestic procurement norm issued by the Central Electricity Authority (CEA).

Business Standard CIL to hold coal linkage auction for sponge iron sector

 Coal India today said auction of coal linkages would be conducted for the sponge iron sector initially and the bid schedule will be released tomorrow.

Mint MAYANK AGGARWAL Indo-Nepal power project on track

 To ensure that an environmental impact study for the 5,600 megawatt India-Nepal Pancheshwar multi-purpose project is not delayed, an expert panel of the environment ministry has cleared the terms of reference for the project. The panel, however, called for setting up a joint mechanism for assessing the environmental impact of the project. The Pancheshwar multipurpose project is envisaged to be built on the river Mahakali, which divides the far western development region of Nepal from Uttarakhand in India.

The Economic Times Sarita Singh PowerGrid may lose ownership of the country’s electricity transmission network

 PowerGrid Corp may soon lose ownership of the country's electricity transmission network as the power ministry has approached Cabinet with a proposal aimed at attracting private investment in the transmission space. As per the plan, the state-run company would continue to develop projects, but would not own them.

The Economic Times Government electrifies 108 villages last week, total now at 7,874

 A total number of 7,874 villages out of those without power have been electrified till last week with an addition of 108 to the network, the Power Ministry said today. 

The Economic Times Debapriya Mondal Kerala wants short-term power only from south says region lacks connectivity with rest of India

 Kerala has written to the Centre to restrict power only from that region for short-term procurement through e-auction for the state because of lack of transmission network in south India , a person close to the development told ET.

Financial Express Electricity generation in April records highest growth in 22 months

 In what could be seen as the twin impact of record-breaking temperatures this summer and a possible revival of industrial growth, the electricity generation for April recorded the highest growth in nearly 22 months.

Business Standard Sanjay Jog Regulators launch study to simplify power tariffs

 Power regulators have launched an internal study to look into various options of designing ‘progressivity’ in tariffs. The trigger is the mismatch between the average tariff and cost of supply, barriers put up by states in providing open access, and high subsidy and cross subsidy.

Hindu Business Line V RISHI KUMAR Telangana banks on solar power for energy security

 As the sun goes down, scores of hamlets and tribal habitats, each with up to a hundred people, in the forest tracts of Telangana face total darkness.
The only light available is from the chullha (earthen stove) and a few battery or solar-powered lights. It is difficult to provide grid-power in these regions, which are located in dense forest tracts.

The Hindu Business Line AP to adopt 5-point agenda to make it an energy theft-free State

 The Andhra Pradesh Government has formulated a five point strategy to make it “Energy theft-free State” while bringing down the losses to single digit.

The Economic Times Government to soon launch campaign to provide electricity connection to all: Piyush Goyal

 The government will launch a campaign to make it compulsory to provide electricity connection to all, the power minister said. Piyush Goyal also said he favoured subsidies to farmers who constituted only a small portion of the national demand.

Business Standard Shreya Jai UDAY will cover private discoms soon: Piyush Goyal

 Increasing the ambit of National Democratic Alliance (NDA) government’s flagship scheme Ujwal Discoms Assurance Yojana (UDAY), the ministry of power would soon approach the Cabinet to incorporate private power distribution companies (discoms) in it.

Financial Express GVK Power Q4 net loss widens to R408 crore

 GVK Power & Infrastructure Limited posted a wider net loss of R408 crore on a consolidated basis for the quarter ended March 31, 2016 due to higher expenses and increase in interest costs. The company had posted a net loss of R109 crore during the same period last year.

Hindu Business Line Tata Power arm bags solar projects

 Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, has won two grid-connected solar photovoltaic projects of 50 MW capacity both at Pavagada Solar Park in Karnataka.

The Economic Times Debjoy Sengupta Central Electricity Authority wants government-funded power projects to use domestic parts

 Government-funded power projects will have to use locally-made equipment and material procured through domestic competitive bidding, the Central Electricity Authority (CEA) has said. The move might trigger litigations from foreign players on grounds of bias towards domestic players, some experts said.

The Economic Times Kaavya Chandrasekaran International Solar Alliance gathers steam, summit in New Delhi next year

 The International Solar Alliance , led by France and India, is bringing together investors and financers in high-profile events in New Delhi, Kenya, Peru and Indonesia - countries with high solar potential in three different continents.

Financial Express Short-term power procurement: e-bidding results in savings

 The first e-bidding process through the DEEP Portal for short-term power procurement has resulted in substantive savings for states such as Uttarakhand, Kerala, Bihar and also for private discom Torrent Power.

Hindu Business Line Water crisis: Power Ministry plans reprocessing units for thermal plants

 In view of the water scarcity being faced by the power plants in the country, the Power Ministry is preparing a national roadmap for setting up water reprocessing facilities, which could marginally increasepower tariff.

Mint Mayank Aggarwal Green energy’s moment under the sun

 Although India is far from achieving its target of 175 gigawatts (GW) of renewable power by 2022, a series of steps taken by the National Democratic Alliance (NDA) government in the past year has set India on the path to a green economy in the next few years.

The Economic Times PTC India Q4 net profit dips 30 to Rs 40 crore

 State-owned power trading solutions company PTC India LtdBSE 3.14 % today reported 29.6 per cent decline in standalone net profit at Rs 39.69 crore for the quarter ended March 31, 2016. 

The Economic Times Power Grid operationalises 1,200 kV test station at Bina

 State-run Power Grid Corp today operationalised its ultra-high voltage 1200 kV National Test Station (NTS) at Bina in Madhya Pradesh, which will help increase power carrying capacity.

The Economic Times Debjoy Sengupta NTPC withdraws notice for discontinuing power supply to BSES

 NTPC has withdrawn its notice for discontinuing power supply to BSES which caters to Delhi .

The Economic Times Himangshu Watts & Sarita Singh & Kaavya Chandrasekaran Solar sector will take time to adjust to honest regime: Piyush Goyal

 In an interview with ET, he also said the government is contemplating a mega fund for the power sector, besides giving boost to hydro and wind projects. Edited excerpts:

The Hindu Business Line ASHISH KHANNA - executive director and CEO of Tata Power Solar Finding our own space under the sun

 Indigenisation has worked well in the case of the auto sector. It makes eminent sense in the case of solar power as well

Financial Express Sumit Jha Piyush Goyal tells Coal India to stick to fuel pact commitments to gencos

 In what would enable power companies to scale up capacity utilisation and cut fuel costs, public-sector Coal India has been told to provide the full contracted quantity of coal to them under the fuel supply agreements (FSAs) signed in 2011. Power and coal minister Piyush Goyal told FE, “It came to my notice a few days ago that the committed quantity (of coal) was not being provided (by CIL). 

Financial Chronicle Subhash Narayan Power Grids InvIT idea to unlock value of assets

 Central transmission utility Power Grid Corporation plans to float an infrastructure investment trust (InvIT) — a first in the power sector — to unlock value from its operational transmission assets and free up long-term capital for further investments, government officials privy to the development said.

The Economic Times Debjoy Sengupta Coal India Limited to offer 120 million tonnes coal for forward e-auction

 Coal India plans to sell 120 million tonnes coal this year to power and nonpower entities that do not have fuel supply commitment, buoyed by the excellent response to its forward e-auction in April.

The Economic Times Debapriya Mondal Now, UMPPs to be included in power companies performance parameters

 The development of ultra mega power projects (UMPPs) is set to get a fresh push, with the government directing the Power Finance Corporation to include such projects in the companies' performance parameters, a senior power ministry official told ET.

The Economic Times Competition Appellate Tribunal sets aside Rs 1,773-crore penalty on Coal India

 The Competition Appellate Tribunal has set aside a2013 order of Competition Commission of India (CCI) imposing a fine of Rs 1,773 crore on state-run coal monopoly Coal IndiaLtd.

Business Standard Heat is rising, so is power demand

 With Delhiites reeling under scorching heat, power demand today soared to 5,442 megawatts in the national capital.

Business Standard Jyoti Mukul & Shreya Jai Banks pick up 75 of UDAY bonds

 Of the Rs 1.11 lakh crore of bonds issued by the states and their power distribution utilities as part of debt restructuring, close to 75 per cent has been picked by banks, followed by the Life Insurance Corporation of India (LIC) and the Employees Provident Fund Organisation (EPFO). Private sector entities like mutual funds and banks have picked up eight per cent of the bonds amounting to Rs 9,030 crore.

Business Standard Komal Amit Gera Worlds largest rooftop solar power plant inaugurated in Punjab

 World’s largest single rooftop solar power plant of 11.5 Mw capacity was inaugurated in Beas near Amritsar in Punjab on Tuesday. Spread at a single rooftop stretch of 42 acre at Dera Baba Jaimal, the project was synchronised earlier this year.

The Hindu Business Line DEBABRATA DAS Installed solar capacity touches 7,000 MW by April

 The fate of almost 1,000 megawatt of solar power capacity in India’s solar programme hangs in balance even after a month and a half since US-based SunEdison declared bankruptcy

The Hindu Business Line ANIL URS Karnataka govt inks power purchase pact with NTPC

 About 6,000 MW of additional power is expected to be added to the Karnataka grid, of which 4,800 to 5,200 MW is expected to be available by 2018.

The Hindu Business Line V RISHI KUMAR Lenders rejig stranded GMR Rajahmundry Energy project debt

 GMR Rajahmundry Energy Ltd has announced its Strategic Debt Restructure with lenders taking 55 per cent of the equity as per the RBI norms.

Business Standard Jyoti Mukul PFS turns to green lending to fund port, road projects

 With the investment pipeline drying up in conventional power projects, more than half of PTC India Financial Services' lending has moved towards renewable energy. The company is also seeking to diversify its portfolio and fund port connectivity and hybrid annuity road projects. PFS' main focus now is on solar power.

Business Standard PFS Q4 net jumps over threefold to Rs 49 crore

 PTC India Financial Services (PFS) has reported an over threefold increase in net profit at Rs 49.03 crore in January-March quarter this year as against Rs 15.8 crore a year ago.

The Economic Times Kaavya Chandrasekaran Ministry of New and Renewable Energy issues fresh draft norms for onshore wind power projects

 The Ministry of New and Renewable Energy (MNRE) has issued fresh draft guidelines for onshore wind power projects, specifying how sites for wind farms should be chosen, the standards wind turbines should conform to and how they should be installed, the average annual plant load factor they need to achieve, and more. 

Mint Kalpana Pathak & Ira Dugal GE Power India to grow 50 in 2016: Steve Bolze

 Steve Bolze, president and chief executive officer of GE Power, believes digitization will be the biggest disrupter for the power industry in the next 10-20 years. In India to address the conference on the Future of Electricity organized by Mint and General Electric Co. last week, Bolze said India has become a real microcosm for everything going on in the global power sector. Edited excerpts from an interview:

The Economic Times Sangita Mehta Exercise caution while giving loans to discoms: RBI to banks

 The Reserve Bank of India (RBI) has cautioned banks from lending more to power distribution companies, or discoms. In a recent letter to select state-owned banks, the regulator has advised them to "exercise caution" in giving new loans to these utilities, reminding them that "any additional exposure to discoms would result in ever-greening" and "invite supervisory measure."

The Economic Times Cairn offers to pay 15 of principal amount in pending tax case

 Hit hard by the retrospective tax, Cairn Energy plc of UK has offered to pay 15 per cent of the Rs 10,247 crore principal amount in return for government lifting freeze on the 9.8 per cent shares it holds in its erstwhile subsidiary, Cairn India.

Financial Express Bilal Abdi Indian Railways to meet 10 of energy needs via renewables by 2020

 which has envisioned a plan to generate 1000 MW of solar energy by 2020, claims to be on track to become the largest harvester of rooftop solar plants, and plans to meet 10% of its total energy requirements through renewable energy by 2020.

Financial Express India to soon file 16 cases against US for WTO norm violation: Nirmala Sitharaman

 India will file 16 cases against the US at the World Trade Organization (WTO), as certain US programmes in the renewable energy sector are “inconsistent” with WTO norms, according to a written reply by commerce and industry minister Nirmala Sitharaman in Parliament.

Business Standard Sahil Makkar & Shreya Jai Can Rajasthan show the way on power reforms?

 The Rajasthan government recently invited bids for power distribution in Kota and Bharatpur for the next 20 years. Under the terms of the agreement, the distributors will be allowed to use the existing infrastructure and will collect the state-determined tariff from consumers.

The Economic Times Kaavya Chandrasekaran IWTMA installing devices which will reveal how much wind power is available every 15 minutes

 Wind energy producers in India are stepping up efforts to provide buyers with a way to measure the quantity of power received in real time in an attempt to make the renewable source of energy more attractive and help utilities prepare despatch schedules.

Financial Express Shayan Ghosh Foreign banks appoint Avista to study JSPL loan recast

 A group of foreign banks to which Jindal Steel and Power (JSPL) owes $550 million has appointed Singapore-based Avista Advisory to evaluate a recast of the loans as suggested by the company, senior bankers told FE. They added JSPL’s proposal to restructure the debt, submitted to banks in April, included a revised pricing and an extended tenure. The promoters have indicated to lenders they will provide additional security in the form of shares in some overseas arms.

Financial Chronicle D Govardan Gamesa India to invest Rs 300cr

 Gamesa India, the Spanish wind turbine major’s Indian arm, is investing Rs 300 crore in a new integrated manufacturing facility near Nellore in Andhra Pradesh. The new facility, which is likely to start its production in August this year, will initially manufacture blades for the wind turbines.

The Hindu Business Line Karnataka to modify solar policy to target 6,000 MW

 Karnataka is planning to modify its solar power policy to achieve the 6,000 MW target set by Centre before 2020.

Mint Gireesh Chandra Prasad Govt to make coal-based power generation cleaner: Piyush Goyal

 The government will adopt new technologies to make coal-based power generation cleaner and design new financing schemes with private companies to fund research on green energy technologies to address a major surge in power demand expected over the next decade, power minister Piyush Goyal said.

Mint Gireesh Chandra Prasad BSES gets a week to resolve payment crisis with NTPC

 Power utilities BSES Yamuna Power Ltd and BSES Rajdhani Power Ltd, which cater to about 3.5 million residential, institutional and business consumers in the capital, are exploring ways to resolve a Rs.1,300 crore payment crisis with state-owned power producer NTPC Ltd by 16 May, to avert a major power supply disruption.

Mint P.R. Sanjai & Vishwanath Nair Essar Power says it will make a profit in fiscal year 2017

 Essar Power Ltd, part of the debt-laden infrastructure conglomerate Essar Group, says it will make a net profit in fiscal 2017 after four years of losses and is looking at becoming a zero-debt company in the next three years.

Financial Express ‘NTPC’s regulation may jeopardise grid security’

A day after NTPC issued notices to Reliance Infra-run BSES discoms in Delhi regarding power cuts starting next week due to unpaid bills, the state transmission utility has directed the company to keep its regulation of power supply notice in abeyance in view of ‘imminent threat’ to the grid.

The Hindu Business Line DEBABRATA DAS & RICHA MISHRA Will protect local solar firms ‘come what may’

Piyush Goyal, Minister of State (Independent Charge) for New & Renewable Energy, Power and Coal, is confident that India is on a “strong footing” as it defends its solar programme at the World Trade Organization.

Business Standard Shreya Jai Renewable energy gets new lease of life

One sector that has got a lot of attention with the coming of the NDA government is renewable energy (RE). Piyush Goyal, minister of state for coal, power and renewable energy, said a year ago that India would invite $2 billion worth of investment in green energy. Back-of-the-envelope calculations show that it has actually happened, especially in solar and wind energy.

Financial Express Sumit Jha Boosting PSUs: E-auction boosts Coal India sales by Rs 2500 cr in FY 16

The record coal production last fiscal allowed public-sector behemoth Coal India to augment sales via the lucrative electronic auction route to firms with captive power plants and power generators. The rise in e-auction sales  boosted the company’s annual sales by Rs 2,500 crore.

The Hindu Business Line DEBABRATA DAS & RICHA MISHRA Soft loans to States in the works to provide power connections to the poor

To ensure that the ambitious rural electrification programme does not suffer any set-backs due to financial constraints of the local distribution utilities, the Power Ministry proposes to fund States with a soft loan for providing connections to the economically weaker but Above Poverty Line families.

The Hindu Business Line Minister allays TN’s fear on power subsidy

The Centre’s Ujwal Discom Assurance Yojana, a scheme for the financial rejuvenation of distribution companies, does not envisage doing away with state’s power subsidies, the Union Minister of State (Independent Charge) for Power and Coal, Piyush Goyal, has said.

Mint Rajesh Kumar Singh India seeks to shut 12 of power capacity in anti-pollution move

India plans to shut aging coal-fired power plants with a combined capacity of 37 gigawatts to cut emissions and reduce the use of fuel and water.

The Economic Times Jindal Steel to sell plant to JSW Energy for Rs.6,500 crore

 Sajjan Jindal's JSW Energy will acquire a 1,000 mw power plant in Chhattisgarh from Jindal Steel & Power, controlled by younger brother Naveen. There had been speculation last week that the deal may have run into hurdles after a planned press conference was cancelled.

The Economic Times Debjoy Sengupta Outstanding dues of state power discoms rise 16 per cent to Rs 22,000 crore

 Outstanding dues of state utilities payable to central generating power stations have increased 16% in the last one year, touching Rs 22,200 crore. 

The Economic Times Arijit Barman SunEdison bankruptcy: Is India’s sunrise sector staring at another Enron?

 Isn't it odd that the world's largest renewable energy developer has joined the long list of fossil fuel producers who have all recently gone belly up as crude collapsed to historic lows? 

The Economic Times Reliance Power gets in-principle nod for LNG-based plant in Bangladesh

 Anil Ambani-led Reliance Power has won an in-principle approval of the Bangladesh government for the first phase of the 3,000 megawatt LNG-based power plant. 

Financial Express Scorched Delhi in trouble? NTPC asks discos to clear dues or face power cuts

 In what could worsen Delhi’s scorching summer, state-run NTPC has issued notices to Reliance Infra-run power distribution companies, saying that power supply to them would be regulated from May 11 if the firms do not clear Rs 1,300 crore of combined dues.

Financial Chronicle Subhash Narayan Spot power rates fall to `2.91 per unit in April

 Rising temperature and high power demand across the country has failed to prop up the power trading market with electricity rates in the spot market on exchanges staying at a low of Rs 2.91 per unit in April.

Financial Chronicle Subhash Narayan Govt hopes to slash coal import bill by `40,000 crore in FY17

 The government hopes to reduce the coal import bill by Rs 40,000 crore in FY17 on the expectation that coal prices would remain low and domestic production would maintain its robust growth momentum during the year.

The Hindu Business Line Coal India to set up 15 washeries by October 2017

 Coal India will set up 15 washeries across the country by October 2017 following which coal with more than 34 per cent ash content will be washed and then supplied to consumers.

The Hindu Business Line PTC India wins first e-bid for short-term power supply

Power trading firm PTC India Ltd has emerged as the most successful bidder in the ‘Discovery of Efficient Electricity Price (DEEP)’ e-bidding for short-term power procurement by electricity distribution utilities held last week.

The Economic Times Kaavya Chandrasekaran Solar projects continue to attract bids less than Rs 5 per unit

India's latest auction of solar power projects continued to attract bids of less than Rs 5 per unit. ReNew Power was the lowest bidder for NTPC's solar-power projects in Telangana, winning 100 MW with an offer of Rs 4.66 per unit.

The Economic Times Government raises Rs 8,152 crore via NTPC bonus debenture sale to EPFO

The government raised Rs 8,152 crore in 2015-16 by selling bonus debentures of NTPC to EPFO, Parliament was informed today.

Financial Express Bhavik Nair CRISIL downgrades AP Power Transmission’s bonds to default

Ratings agency CRISIL has downgraded its ratings on bank loan facilities and bonds issued by Transmission Corporation of Andhra Pradesh (AP TRANSCO) to default.

Financial Chronicle Subhash Narayan CIL’s April output declines to 40 mt, offtake falls too

After registering 8.5 per cent growth in FY16 in coal output, CIL’s production has slipped in the first month of FY17, raising fears that sluggish demand will force the world’s biggest miner to cut back on output and it may push back the target of doubling its output to 1 billion tonnes beyond 2019-20. Coal India (CIL) produced 40.09 million tonnes (mt) of coal in April, a decline of 3.4 per cent from the targetted 44.48 mt. The coal offtake during the month also fell by 2.5 per cent to 42.45 mt against the target of 51.46 mt.

Financial Chronicle Rajesh Kumar Singh Coal India cuts output for 1st time in more than a year

Coal India Ltd, the world’s biggest miner, saw production and shipments of the fuel fall year-on-year for the first time in 15 months as sluggish demand caused stockpiles to swell.

Hindu Business Line PTC India wins first e-bid for short-term power supply

Power trading firm PTC India Ltd has emerged as the most successful bidder in the ‘Discovery of Efficient Electricity Price (DEEP)’ e-bidding for short-term power procurement by electricity distribution utilities held last week.

Business Standard Alstom T&D Q4 profit dips 44 at Rs 29.87 cr

Alstom T & D India's standalone net profit fell by 44 per cent year-on-year to Rs 29.87 crore in the quarter ended on March 31, 2016.

Business Standard PTC emerges winner in first e-bidding for short-term power

In the newly-launched initiative of the ministry of power which mandates e-bidding for short-term power, PTC India Ltd emerged as the successful bidder to supply power to Uttarakhand and Kerala during peak summer months.

The Economic Times Debjoy Sengupta PTC bags maximum power supply orders

PTC India has bagged the largest number of power supply orders at competitive rates to Uttarakhand and Kerala state utilities at a recently concluded short term power procurement auction.

The Economic Times Kaavya Chandrasekaran Solar Energy Corporation of India plans to set up more solar plants

The Solar Energy Corporation of India (SECI), set up primarily to facilitate the growth of solar power, is going ahead with plans to become a renewable energy developer itself. After having set up a solar project in Rajasthan, it will soon embark on two projects: a 300-MW hybrid project, comprising both solar and wind energy in Andhra Pradesh, and floating solar plants across Kerala (10 MW), Andhra Pradesh (10 MW) and Lakshadweep Islands (5MW).

The Economic Times Higher coal use in Asia may lead to reduced rainfall: Study

Burning more coal in Indian thermal power plants can have an adverse impact on rainfall locally. It could increase possibility of drought and the effects may travel across borders to the northern hemisphere, a new MIT study has indicated. "If this is indeed a fact, Asian thermal power generators, especially in India and China, will be under pressure to cut down thermal power generation and abandon new capacity addition plans," a senior analyst said.

Financial Express Wind beneath it’s wings: Suzlon marketshare rises to 27

Renewable energy player, Suzlon Group, recorded a 103% growth in installations of wind energy projects in FY16 and won back lost market share.

Financial Chronicle Mukesh Jagota Coal India to buy back 5 govt stake next year

Coal India may spearhead the disinvestment programme in the next financial year by buying back government’s 5 per cent shares in the company. This would net close to Rs 10,000 crore to the exchequer. Sources in the government told Financial Chronicle that the buyback plan, approved by the finance ministry, has already secured the approval of the Coal India (CIL) board and would be implemented at a suitable time early next fiscal. Financial Chronicle first reported the proposed share buyback by CIL in January.

Business Standard Sanjay Jog Robust transmission service for renewable energy mooted

A high level committee appointed by the Union Power Ministry for effective integration of renewable energy (RE) with grid has made a slew of recommendations including strengthening transmission system, robust data telemetry and communication systems, adherence to grid standards and regulations by RE generators and load forecasting by distribution companies, state, regional and national load despatch centres.

Business Standard Shreya Jai Power regulator to clear case backlog by October

The Central Electricity Regulatory Commission (CERC), which was battling with 700 cases dating back to 2012-13, is likely to clear the backlog by October this year.

Business Standard Power sector may import 48MT coal in FY17: Piyush Goyal

Power sector may import 48 million tonnes of coal in the ongoing fiscal for plants which need coal from overseas market.

Hindu Business line M RAMESH CLP likely to buy 100 MW of solar power from Suzlon