Page 15 - Power Sector

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

AIPEF demands probe into coal shortage at thermal power plants, imports

All India Power Engineers Federation (AIPEF) on Tuesday demanded an independent enquiry into shortage of coal at various thermal power plants as well as the imports of dry fuel in the country. The engineers' body also said the central government should bear the additional cost of coal imports by power generation utilities, according to an AIPEF statement. It said that certain entities are benefitting from rising coal imports and demand from a number of power producers leads to an increase in the price of the dry fuel in the international market. AIPEF chairman Shailendra Dubey said the term of reference of the enquiry should include who are the main beneficiaries of coal imports. According to AIPEF, imports of coal have increased after the government has made it mandatory for imported coal based plant to run with full capacity and instructed the domestic coal based plants to increase blending of imported coal from 4 per cent to 6 per cent. In March this year, the government issued

J-K admin to purchase additional 500 MW of power to meet winter demand

The Jammu and Kashmir (J-K) administration on Sunday approved the purchase of an additional 500 megawatts (MW) of power from the Centre to meet the winter demand, according to an official statement.As winter approaches, J-K face electricity scarcity because of a low proportion of hydropower in the Union Territory, as water reduces in rivers.So in order to meet the gap in demand and supply, the administrative council that met here under the chairmanship of Lt Governor Manoj Sinha approved the signing of a fresh Power Purchase Agreement (PPA) between J & K Power Corporation Limited and the NTPC regarding Singrauli-III power station run by the NTPC, the statement read.This will subside the energy demand in Jammu and Kashmir which is increasing at a compound annual growth rate of 10 per cent.Singrauli-II being a thermal power station is a must-run station and the electricity generated by it fulfils the demand of Jammu and Kashmir during winter when the generation from hydro generators

J-K PDD announces withdrawal of Electricity Duty to alleviate tariff hike

The decision, effective December 1, 2023, comes following the issuance of a new Tariff order by the Joint Electricity Regulatory Commission (JERC), Jammu and Kashmir

TPDDL signs MoU with PSSC for developing skill training programmes

Delhi discom TPDDL has signed a memorandum of understanding (MoU) with the Power Sector Skill Council to jointly undertake skill development training and capacity-building programmes for the power distribution sector in India and abroad, according to a company statement on Thursday. The MoU was signed by Praveen Agrawal, chief human resource, industrial relations, Tata Power Delhi Distribution Ltd (TPDDL) and V K Singh, chief executive officer of Power Sector Skill Council (PSSC), it said. The objective of the MoU is to provide a framework for cooperation between TPDDL and PSSC, facilitating the co-creation, development and imparting of courses for training and skill development for personnel in the power industry, state utilities and other organisations, the statement added. Agarwal said, "With a pre-established proficiency in on-site and off-site training domain, this MoU will enhance our training and research capabilities within the power sector with a specific focus on skill ...

Power giant NTPC pays interim dividend of Rs 2,182 crore for FY24

State-owned power giant NTPC on Thursday said it has paid the first interim dividend of Rs 2,182 crore for the fiscal 2023-24. NTPC Ltd paid the first interim dividend of Rs 2,182 crore on November 23, 2023, for the financial year 2023-24, being 22.50 per cent of the paid-up equity share capital of the company, a statement said. According to the statement, this is the 31st consecutive year that NTPC Ltd has paid dividends, underscoring its dedication to providing consistent returns to its investors. As a key player in the Indian energy sector, NTPC Ltd continues to drive excellence, sustainable growth, and shareholder satisfaction through its strategic initiatives and robust financial performance, it stated.

Telangana's power sector, supply to farmers key in heated political battle

24x7 power supply to farmers emerges as a political lightning rod in the state as sparks fly between Bharat Rashtra Samithi and Congress

J-K's Kishtwar to soon emerge as north India's power hub: Jitendra Singh

Jammu and Kashmir's Kishtwar is all set to emerge as north India's "major power hub" with the generation of around 6,000 MW of electricity after the completion of the ongoing power projects, Union minister Jitendra Singh said on Saturday. Singh, the Minister of State in the Prime Minister's office, was on an extensive tour of the remote areas of the hill district of Kishtwar, part of his Udhampur parliamentary constituency. He visited Gulabgarh in the Paddar area and the far-off Massu village, where he also inaugurated the new school set up by 'Shiksha Bharti' for village children. The Union Minister, who is also a renowned physician and diabetologist, also participated in the multi-speciality medical camp organised by the Army at Gulabgarh. Six to seven major hydropower projects have come up in the region in a short span of 9 to 10 years ever since Narendra Modi took over as the Prime Minister," Singh said addressing a public meeting in Gulabgarh. The largest capacity project is

Tata Power Q2FY24 PAT up 6.9% to Rs 876 crore on back of higher revenue

Revenue for the company rose 12.2 percent to Rs 15,738 crore largely driven by higher revenue from core businesses of generation, transmission and distribution

NTPC Group's capacity reaches 73,874 MW after wind unit installation

State-owned power giant NTPC on Saturday said its group installed capacity has reached 73,874 MW after its arm started commercial operations of a 50 MW wind energy unit. "NTPC Renewable Energy Ltd, a wholly owned subsidiary of NTPC, has on Nov 4 declared commercial operation of its first project of 50 MW Wind at Dayapar Project in Gujarat, taking the group installed capacity to 73,874 MW," a company statement said. With this, the total Renewable Energy (RE) operational capacity of NTPC Group stands at 3,364 MW, it said. This is also the first capacity in India declared commercial under the new IEGC code and GNA Regime. The NTPC REL was incorporated as a wholly owned subsidiary of NTPC on October 7, 2020 to accelerate NTPC's RE capacity addition. Dayapar Wind is the first project of NTPC REL, and apart from this, there are 15 other RE projects under different stages of execution, totalling 6,210 MW, it stated. Also, Dayapar Wind Complex, when fully commissioned, will add 450 MW to

Adani Power Q2 result: Profit soars 10-fold to Rs 6,594 cr on demand surge

The company's consolidated net profit climbed to 65.94 billion rupees ($792.3 million) in the quarter, helped in part by a tax gain of 13.71 billion rupees

Smart metering infrastructure catches pace as states award mega tenders

Smart meter tenders have gained momentum in states, thanks to the new power distribution reforms scheme of the Centre