Page 15 - Power Sector

TN global investors meet: Tata Power to invest Rs 70K cr in green units

Set to be firm's highest investment in any state

Extreme cold weather leaves thousands without power in Nordic countries

Extremely cold temperatures compounded by gale-force winds and snow wreaked havoc across the Nordic region Thursday, leaving thousands without power while others braved the cold for hours stuck in their cars along clogged highways. Heavy rains in Germany, France and the Netherlands again caused floods in regions that have seen persistent flooding in the last two weeks. One death was reported in France. The deep freeze disrupted transportation throughout the Nordic region amid reports of traffic chaos following closures of sections of highways and major roads. Problems with rail service have also been reported. Electricity was cut to some 4,000 homes in Arctic Sweden where temperatures plummeted to minus 38 degrees Celsius (minus 36.4 degrees Fahrenheit), according to Swedish public radio. In the southern part of the country, motorists were stuck in their cars or evacuated to a nearby sporting complex where they spent the night. In neighbouring Denmark, police urged motorists to avo

CCI clears Punjab State Power Corp's purchase of GVK Power project

The Competition Commission of India on Tuesday cleared Punjab State Power Corporation's proposed acquisition of GVK Power (Goindwal Sahib) Ltd. GVK Power (Goindwal Sahib) is a wholly-owned subsidiary of GVK Energy Ltd, which in turn is the subsidiary of GVK Power and Infrastructure Ltd. The combination involves the acquisition of 100 per cent stakeholding of GVK Power (Goindwal Sahib) Ltd by Punjab State Power Corporation Ltd (PSPCL). "CCI approves the proposed acquisition of 100 per cent shareholding of GVK Power (Goindwal Sahib) Limited by Punjab State Power Corporation Ltd," the fair trade regulator said in a post on X. In July last year, PSPCL had filed a bid to take over the 540 MW Goindwal thermal power plant in Tarn Taran after corporate insolvency proceedings were initiated against its owner GVK Power. Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.

SJVN gets govt approval to form JVs for 8778 MW hydro, renewable projects

State-owned power producer SJVN Ltd on Monday said it has received the finance ministry's permission to form four joint venture firms for the development of hydro and renewable projects with a total capacity of 8,778 MW in India and Nepal. SJVN will be the leading partner in three joint venture companies, whereas SJVN's wholly-owned subsidiary SJVN Green Energy Ltd (SGEL) will be the leading partner in the fourth JV, a company statement said. According to the statement, the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India has agreed to the proposal of SJVN and Ministry of Power to form four joint venture (JV) companies for the development of Hydro and Renewable Projects in India and Nepal. SJVN will form a JV with Maharashtra State Power Generation Company Ltd to develop 5,000 MW Renewable Energy Projects. Another JV will be formed between SJVN, Government of Arunachal Pradesh and Navyuga Engineering Company Ltd. The JV will ..

Met winter's record peak power demand of 1,631 MW: Tata Power-DDL

Tata Power Delhi Distribution Limited on Monday successfully met this winter season's record peak power demand of 1,631 MW without any network constraint and power outage, the company said in a statement. The company is expecting the peak demand to breach 1,800 MW this season and has made long-term power tie-ups to meet the requirement, it added. "Our power-supply arrangements during the winter months include long-term agreements with power plants like Maithon Power, Jhajjhar Power, SJVNL, THDC, NTPC stations, Delhi-based gas-fuelled generating stations and other solar and wind tie-ups made by Tata Power-DDL," it said. In 2022-23, the winter peak demand stood at 1,750 MW, while in 2021-22 and 2020-21, it was at 1,620 MW and 1,572 MW respectively. Tata Power-DDL is adequately prepared for the winter season and has been working towards strengthening its power network and conducting preventive maintenance and condition-based maintenance of all critical electrical installations, the ..

Reliance Power to sell 1,200 MW Kalai II hydropower project to THDC India

Reliance Power has inked an agreement to sell its 1,200 MW Kalai II hydroelectric project in Arunachal Pradesh for Rs 128.39 crore to THDC India. The purpose of entering into the agreement was to monetise the hydroelectric power project, Reliance Power said in a regulatory filing on Sunday. According to the filing, the Governor of Arunachal Pradesh, Kalai Power Private Ltd (a subsidiary of the company), and THDC India Ltd (THDC) have inked an agreement in this regard on December 30, 2023. Under the pact, there will transfer of the development rights and associated physical assets, studies, clearances, designs and intellectual properties of the proposed 1,200 MW Kalai-II hydroelectric project located at the Lohit river basin of Arunachal Pradesh to THDC for an aggregate consideration of Rs 128.39 crore, subject to certain indemnities, representations and covenants, it stated.

RBI flags concentration risk among govt-NBFCs, all tied to power sector

The interconnectedness between NBFCs and banks in India has seen a rise due to NBFC's increased borrowings from banks, according to the report

Inox Wind, JSW Energy: Power stks soar over 100% in 2 months; time to sell?

Chart suggests that shares related to green and renewable energy may display mixed trend in early 2024, given the sharp rally seen in the last two months.

Managing portfolio: Stay with winners or make bets laggards in 2024

The start of a new year is also a good time to make bets on stocks that have been laggards and could potentially see a turnaround in their fortunes next year

Coal-based power generation rises 8.38% to 779.1 billion units in Apr-Nov

The domestic coal-based power generation increased 8.38 per cent to 779.1 Billion Units (BU) in April-November FY24 , an official statement said on Saturday. In the year-ago period, the domestic coal-based power generation stood at 718.83 BU. India's power generation increased 7.71 per cent in the period under review, the coal ministry said in a statement. The overall coal-based power generation witnessed a year-on-year increase of 11.19 per cent during the period on account of unprecedented rise in temperature, delayed monsoon in the northern region of the country coupled with the resumption of full commercial activities post-Covid. Coal import for blending decreased substantially by 44.28 per cent to 15.16 million tonne (MT) up to November in the current fiscal from 27.21 MT in the year-ago period, despite the escalating power demand. "This shows the nation's commitment to self-reliance in coal production and minimising overall coal imports," the ministry said. The government i

Union Minister RK Singh targets 43% reduction of emissions by 2030

While highlighting the crucial discussions held during the recently concluded COP28, Singh underscored that per capita emissions in India are among the lowest globally

REC, PFC, IRFC zoom over 200% in FY24. Time to exit PSU stocks?

A K Prabhakar, head of research at IDBI Capital, too remains selective and suggests investors exit power sector stocks such as REC and PFC where the run up has been sharp

IREDA soars 14% on heavy volumes; stock zooms 129% against issue price

The stock made its debut on November 29. During the past three decades, IREDA has been supporting all forms of RE -- solar, wind, hydro -- and even newer technologies.

Power stocks in focus; Tata Power m-cap hits Rs 1 trn, Torrent surges 11%

In the past one month, the S&P BSE Power index has surged 27 per cent, against 7 per cent rise in the S&P BSE Sensex.

Tata Power soars 6%; hits new high after 20 months on positive outlook

CRISIL Ratings expects Tata Power's consolidated adjusted Ebitda to be more than Rs 12,000 crore each in fiscals 2024 and 2025, against around Rs 11,500 crore in FY23 and around Rs 9,600 crore in FY24

Uttar Pradesh discoms estimate energy procurement of Rs 85,000 crore

State needs 145 billion units in 2024-25

BSE Power index surges nearly 5%; NTPC, Adani Power, ABB hit new peaks

In the past two months, the power index has surged 19 per cent, while in nine months, it zoomed 59 per cent.

Inox Wind soars 14% as promoter completes Rs 800 crore fund infusion

Inox Wind announced the completion of infusion of around Rs 800 crore (before taxes and fees) into the company by its promoter Inox Wind Energy Limited (IWEL).

Tata Power acquires Bikaner-Neemrana Transmission Project via bidding

Tata Power on Saturday said it has acquired Bikaner-Neemrana Transmission Project through a bidding process. Bikaner-III Neemrana-II Transmission Ltd is a special purpose vehicle (SPV) set up by PFC Consulting, for the project. The company has acquired Bikaner-Neemrana Transmission Project to boost renewable energy evacuation in India, a company statement said. The company received the letter of intent (LOI) after emerging as a successful bidder in the Tariff-Based Competitive Bidding (TBCB) process, as per the guidelines issued by Ministry of Power, it added. The project, which will be developed on a Build-Own-Operate-Transfer (BOOT) basis, will enable the evacuation of 7.7 GW of renewable energy from the Bikaner Complex in Rajasthan. The project entails establishment of a 340-km transmission corridor from Bikaner-III pooling station to Neemrana II substation. Tata Power will maintain the transmission project for a period of 35 years. It is estimated to cost Rs 1,544 crore and i

Strong earnings visibility for NTPC amid growing power demand in India

The share of electricity usage in energy has risen from 14 per cent in 2010 to 18 per cent in 2019