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Power Sale
Government of India and the Asian Development Bank (ADB) on Wednesday signed an agreement for a USD 200 million loan to improve the quality, efficiency, and reliability of power supply in Uttarakhand. The signatories to the loan agreement for the Uttarakhand Climate Resilient Power System Development Project were Juhi Mukherjee, Joint Secretary, Department of Economic A?airs and Hoe Yun Jeong, Deputy Country Director and Officer-in-Charge of ADB's India Resident Mission, for ADB, the finance ministry said in a statement. "The ADB funding for the project will strengthen power system infrastructure and help Uttarakhand in achieving its goal of providing 24x7 power to its residents," said Mukherjee after signing the loan agreement. "The project will enhance the power system network's capabilities, facilitating the seamless integration and transmission of renewable energy to load centres. Simultaneously, it involves upgrading the distribution system to minimize power outages and reduce
Union Ministry of Power has formed a high-level group to study the present system of power purchase and sale under the Power Purchase Agreement (PPA) including power trading, the Lok Sabha was informed on Thursday.In a written reply, Union Minister of State (IC) Power, New & Renewable Energy, and Skill Development and Entrepreneurship R K Singh said: "The group will also explore the system of power markets globally and make recommendations for changing the structure and system of power purchase and sale in the country including reforms needed to encourage investments, efficiency, and competitiveness in power markets.""As per the provision of Electricity Act, 2003, the Ministry of Power has already issued Competitive Bidding Guidelines for long term, medium-term and short term power procurement by Distribution Licensees. As mandated in Tariff Policy, all future power procurement by Distribution Licensees in states to be done through tariff-based competitive bidding only," he ...