Page 12 - Power Sector

Reliance Power's two subsidiaries settle debt worth Rs 1,023 crore

Reliance Power on Wednesday said its two subsidiaries have settled debt worth Rs 1,023 crore with Authum Investment's arm Reliance Commercial Finance. Reliance Power Ltd's two subsidiaries -- Kalai Power Pvt Ltd and Reliance Cleangen Ltd, have signed a debt settlement and discharge agreement with Reliance Commercial Finance Ltd (RCFL), a wholly-owned subsidiary of Authum Investment & Infrastructure Limited, a regulatory filing said. In a stock exchange disclosure, the company informed that the value of total outstanding debt that has been settled stood at Rs 1,023 crore. The debt settlement with Reliance Commercial Finance came a few days after Reliance Power announced the sale of its 45 MW wind power project in Maharashtra to JSW Renewable Energy, for a consideration of Rs 132 crore. In December 2023, Kalai Power had sold the development rights of its proposed 1,200 Megawatt hydro-electric project in Arunachal Pradesh to THDC India Ltd for Rs 128 crore. According to a company ...

Adani Power gets CCI's approval to acquire Lanco Amarkantak Power

Fair trade regulator Competition Commission of India (CCI) on Tuesday cleared Adani Power's proposed acquisition of Lanco Amarkantak Power. Adani Power proposes to acquire 100 per cent share capital and control of the Lanco Amarkantak Power, pursuant to the corporate insolvency resolution process (CIRP) initiated under the Insolvency and Bankruptcy Code, 2016 (IBC), according to a release. Insolvent Lanco Amarkantak Power is engaged in the business of thermal power generation. On March 5, Adani Power announced it received the creditors' approval for the resolution plan to acquire insolvent Lanco Amarkantak Power. "The proposed transaction does not result in an appreciable adverse effect on competition in any plausible relevant market in India," CCI said. Adani Power is engaged in the business of thermal power generation in India. In another release, CCI said it has cleared the proposals of purchasing stakes in PharmEasy by various entities, including Ranjan Pai's MEMG Family Offi

Ministry to ensure 874 mn tonne coal supply for power sector in FY25: Joshi

The coal ministry is geared up to meet 874 million tonnes of anticipated coal demand for the power sector in 2024-25, Union Minister Pralhad Joshi said on Wednesday. For the financial year ending March 31, the Power Ministry had placed a requirement of 821 million tonnes, Joshi told PTI on the sidelines of the release of the 'PM Gati Shakti National Master Plan in Coal Sector' booklet. Their (power ministry's) demand has been met. They had asked for 821 million tonnes and it has been supplied, the Minister said. "For FY25, the power ministry has asked for 874 million tonnes of coal. We will fulfil this requirement also. We are going to cross 1 billion tonne coal production by this March," he said. The share of imported coal for blending purposes has gone down this fiscal compared to last financial year, Joshi said. In FY24, coal import for blending was around 22.20 million tonnes, while it was at 30.80 million tonnes in the financial year 2022-23, he said. Savings to the tune of

Coal ministry will fulfill 874 mn tonnes coal requirement in FY25: Min

The coal ministry is geared up to fulfill the 874 million tonnes coal demand for the power sector in financial year 2024-25, Union Minister Pralhad Joshi said on Wednesday. For the financial year ending March 31, the Power Ministry had placed a requirement of 821 million tonnes, Joshi told PTI on the sidelines of the release of 'PM Gati Shakti National Master Plan in Coal Sector' booklet. Their (power ministry's) demand has been met. They had asked for 821 million tonnes and it has been supplied, the Minister said. "For FY25, the power ministry has asked for 874 million tonnes of coal. We will fulfill this requirement also. We are going to cross 1 billion tonne coal production by this March," he said. The share of imported coal for blending purposes has gone down this fiscal compared to last financial year, Joshi said. In FY24, coal import for blending was around 22.20 million tonnes, while it was at 30.80 million tonnes in the financial year 2022-23, he said. Savings to the tune

Adani Electricity Mumbai tops discoms rating chart, Torrent Power Surat 2nd

Adani Electricity Mumbai has topped the chart in the performance ranking of power distribution companies for 2022-23, a statement said on Monday. Torrent Power Surat and Torrent Power Ahmedabad were at second and third spots in the 12th edition of Integrated Rating of Discoms released by Union Minister for Power and New & Renewable Energy R K Singh. As many as 14 out of 55 distribution companies received the highest A+ rating. Utilities of Gujarat, Haryana, Karnataka, Madhya Pradesh and Andhra Pradesh were in A+ / A category, a power ministry release stated. In all, out of the 55 utilities which have been rated, 14 have received a performance rating of A+, 4 have received A, 7 have received B, 13 have received B-, 11 have received C and 6 have received the rating of C-. No utility has received the lowest rating of D, the ministry said. In addition, two private utilities, TPNODL (Odisha) and DNHDDPDCL (Dadar, Nagar & Haveli, Daman & Diu) too have received A+ rating; ...

Discoms' power cost, debt rose with rising demand in FY23: Govt report

The report said higher debt raised in a high-interest rate environment pushed up the average interest rates

REC to finance power, infra projects worth Rs 1.20 trillion in Rajasthan

Government-owned power sector financier REC Ltd on Monday said it has signed an agreement with the Rajasthan government to provide up to Rs 1.2 lakh crore in six years for power and infrastructure related projects. REC Ltd, under the power ministry, has signed an agreement with the government of Rajasthan on March 10, according to a statement. As per the agreement, REC will finance up to Rs 20,000 crore per annum for a period of six years projects across power and non-power infrastructure sectors. Vivek Kumar Dewangan, CMD, REC Ltd, said in the statement, "We are proud to collaborate with the government of Rajasthan in its mission to enhance infrastructure development across the state. Through this partnership, we aim to support sustainable growth and address the evolving energy needs of the region along with development of other infrastructure sectors." Under this agreement, REC will provide loans of up to Rs 20,000 crore annually for the next six years to various departments, ...

Delhi govt seeks L-G's nod on decision extending power subsidy to 2024-25

The Delhi government has sent the file of Cabinet decision to continue electricity subsidy scheme in 2024-25 for approval of Lieutenant Governor VK Saxena, government officials on Saturday said. The Delhi Cabinet on Thursday last approved the scheme for providing free electricity supply to consumers with monthly 200 units and 50 percent subsidy to those having 201-400 units consumption per month. However, Chief Minister Arvind Kejriwal speaking in the Assembly on Saturday on his government's budget for 2024-25 alleged that the BJP wanted to send him to jail and stop good works of his government like free electricity scheme and shut down Mohalla Clinics and hospitals. Finance Minister Atishi presented the Kejriwal government's budget with total outlays of Rs 76,000 crore in the Delhi Assembly on Monday. In Delhi, nearly 22 lakh families who consume up to 200 units of electricity will continue to get zero amount bills. Earlier, the chief minister after the Cabinet's decision to exte

Analysts see more steam in power stocks as India eyes harsh summer

Coal reserves at power plants have also surged by 15 days to 43 million tonnes, marking the highest level in nearly three and a half years

Power sector to attract Rs 17 trn in next 5-7 years: Union minister Singh

Domestic power industry is expected to attract investments of 17 lakh crore over the next 5-7 years, Union Minister R K Singh said on Thursday. The sector has seen investments of Rs 20 lakh crore in the last nine years, the Minister for Power, New and Renewable Energy was quoted as saying in a release by the power ministry. "During my tenure, we spent about Rs 2 lakh crores in constructing about 3,000 new substations, upgrading about 4,000 substations, adding 8.5 lakh circuit kilometres of HT (high transmission) and LT lines and 7.5 lakh transformers," Singh said while addressing an event here. On capacity addition, he said the country added 190 GW of power generation capacity, increasing it to around 436 GW during the said period. India added 200,000 circuit kilometres to transmission lines and the transmission system is the largest integrated transmission system in the world. It can transfer 116 GW of power from one corner of the country to another. "We are going to come up with

Monthly natural gas trades up 17% in Feb due to fall in global prices: IGX

Falling freight rates for LNG shipments have reduced gas prices in India

This stock zoomed 164% in 2 months on plans of stock split; up 816% in FY24

The company has fixed March 16 as the record date for its proposed 1:5 stock split.

NTPC Green, UP Rajya Vidyut to jointly develop renewable energy projects

NTPC Green Energy Limited has signed a joint venture agreement with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited to develop renewable power parks and projects in Uttar Pradesh. The renewable energy (RE) power generated from the proposed joint venture company (JVC) will meet the Renewable Generation Obligation (RGO) of Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL), NTPC said in an exchange filing. "Wholly-owned subsidiary NTPC Green Energy Limited (NGEL) has signed a joint venture agreement with UPRVUNL on March 4, 2024, in Lucknow for development of renewable power parks and projects in Uttar Pradesh," it said. NGEL is a wholly-owned subsidiary of state-owned power giant NTPC with an operational capacity of over 3.4 GW and 26 GW in the pipeline, including 7 GW under implementation.

This state-run power generation large-cap has zoomed 102% so far in FY24

NTPC rallied 4 per cent to hit a fresh high of Rs 354 ahead of the foundation stone ceremony for its various projects worth Rs 30,023 crore by PM Modi today

Power use in Delhi rises 37%, total consumers up 52% in last 10 yrs: Report

Power consumption in the national capital rose nearly 37 per cent in the last decade from 25,593 Million Units (MUs) of electricity to 35,042 MUs, according to the Delhi Economic Survey report 2023-24 tabled in the Assembly on Friday. The report tabled in the assembly by Finance Minister Atishi, also revealed that the number of consumers in the city rose over 52 per cent during the same period. Delhi, being an urban centre with high load density has seen electricity consumption increasing from 25,593 MUs in 2011-12 to 35,042 MUs in 2022-23. The distribution of electricity in Delhi to various categories of consumers increased from 21,361 MUs in 2012-13 to 30,054 MUs in 2022-23. During the same period, the number of power consumers in Delhi rose from 44.64 lakh to 68.51 lakh, said the report. Also, the the total power purchase in Delhi was 40,997 MUs in FY23. While 09.65 per cent of total power purchase is generated by the Delhi government power plants, 90.35 per cent is purchased

Power Grid Corporation's prospects factored in at current valuations

For FY25, the planned capex is at Rs 15,000 crore, up from earlier guidance of Rs 12,500 crore, alongside capitalisation of Rs 17,000 crore for FY25

Companies to see more gains as India's power demand surge continues

The power demand for the quarterly period of October-December 2023 was 10 per cent higher than the previous year

J&K to be north's power hub after hydro projects completion: Jitendra Singh

Union Minister Jitendra Singh on Saturday said the Kishtwar district of Jammu and Kashmir is all set to emerge as north India's major "power hub after the completion of ongoing power projects with a total capacity of 6,000 MW. The Minister of State in the Prime Minister's office visited the 120-MW Seva-II hydropower project located on Himachal-J&K border near Bani in Kathua district, a part of his Udhampur parliamentary constituency. Reviewing the status of hydropower projects with NHPC, Director (Finance) R P Goyal and other officials, the minister said at least seven major Hydro power projects have come in the region in a short span ever since Narendra Modi took over as Prime Minister in 2014. Talking about the ongoing power projects in Kishtwar, he said the largest capacity project is Pakal Dul with a capacity of 1,000 MW which is expected to be completed by 2025 at an estimated cost of over Rs 8,000 crore. Another major project is Kiru Hydroelectric project with a capacity of .

RIL, Tata Power among firms in fray for $26-billion nuclear investment

This is the first time New Delhi is pursuing private investment in nuclear power, a non-carbon-emitting energy source that contributes less than 2% of India's total electricity generation

Power Grid approves investments of Rs 656 cr for transmission projects

State-owned Power Grid Corporation on Monday said its board has approved an investment worth about Rs 656 crore for implementation of electricity transmission projects in the country. "...its Board of Directors and 'Committee of Directors on Investment on Projects in their respective meetings held on 18th February, 2024, have accorded investment approvals," a BSE filing stated. According to the filing, the Board of Directors approved implementation of Unified Load Dispatch and Communication (ULDC) Phase-III (SCADA/EMS Upgradation Project Northern Region SLDCs at an estimated cost of Rs 514.66 crore with commissioning schedule of November 15, 2025. The Committee of Directors on Investment on Projects approved augmentation of 765/400 kV, 1500 MVA transformer (4th) at Bhiwani at an estimated cost of Rs 141.09 crore, scheduled to be commissioned by May 5, 2025.