Page 13 - Power Sector

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.

Climate side of AI: Its thirst for energy is massive

As GenAI comes to mobile phones, the energy needed to generate photos and videos will be immense. Alongside are data centres which consume energy too for storing information

Power consumption grows 7.5% to 1354.97 bn units in FY23-24 from Apr-Jan

India's power consumption increased 7.5 per cent on-year to 1354.97 billion units (BU) in the April-January period of this financial year, indicating an uptick in economic activities across the country. Power consumption in the country has increased to 1354.97 billion units (BU) in the April-January period of this financial year, from 1259.49 BU in the April-January period of fiscal 2022-23, according to government data. It was 1505.91 BU in the entire fiscal year of 2022-23, the data showed. Experts believe the 7.5 per cent growth in power consumption in the country clearly shows a perk up in economic activities in the first 10 months of this fiscal year. They said power consumption grew in August, September and October, mainly due to humid weather conditions, and a pick-up in industrial activities ahead of the festive season. Experts are predicting a steady power consumption growth due to improvement in economic activities and cold wave conditions in February. They are of the vi

Govt is mulling listing of PSEs' green energy arms, says Dipam secretary

There is a lot of opportunity for subsidiary units of some of our important companies to come to the market, said Pandey

RECPDCL hands over Pachora Power Transmission SPV to GR Infraprojects

State-owned REC on Thursday said its arm RECPDCL has handed over Pachora Power Transmission SPV to GR Infraprojects. The SPV was formed for the establishment of the Interstate Transmission Project for evacuation of power from renewable energy (RE) projects in Rajgarh (1,000 MW) SEZ in Madhya Pradesh-phase II through a tariff-based competitive bidding process, REC said in a statement. The special purpose vehicle (SPV) Pachora Power Transmission was handed over to the successful bidder GR Infraprojects in the presence of senior officials from RECPDCL. Additionally, representatives from the Central Transmission Utility of India Limited (CTUIL) and other key stakeholders attended the event, it said. RECPDCL, a wholly-owned subsidiary of REC Limited, has been acting as bid process coordinator (BPC) for tariff-based competitive bidding (TBCB) in transmission line projects and RE-bundling projects. Under the Ministry of Power, REC Limited is a non-banking finance company (NBFC), and ...