Page 16 - Power Sector

Power consumption grows nearly 22% to 138.94 billion units in October

The country's power consumption grew nearly 22 per cent to 138.94 billion units (BU) in October, showing a surge in electricity demand due to festivities and increased economic activities. In the year-ago period, power consumption stood at 113.94 BU, higher than 112.79 billion units recorded in October 2021, according to government data. The peak power demand met -- the highest supply in a day -- rose to 221.62 GW in October. The peak power supply stood at 186.90 GW in October 2022 and 174.44 GW in October 2021. The power ministry had estimated the country's electricity demand to touch 229 GW during summer. The demand did not reach the projected level in April-July due to unseasonal rain. The peak supply, however, touched a new high of 224.1 GW in June before dropping to 209.03 GW in July. Peak demand touched 238.19 GW in August. In September this year, it was 240.17 GW. Industry experts said power consumption was affected in March, April, May, and June this year due to widesprea

JSW Energy joint managing director & CEO resigns, to take early retirement

JSW Energy said Jain will continue to serve in his current position until 31 January 2024 to support an orderly transition

Centre extends mandate on coal import; blending to continue till March 2024

The ministry has invoked Section 11 of the Electricity Act, 2003 again to direct all the ICBs with a cumulative capacity of 17 Gigawatt (Gw) to operate and generate power to their full capacity

Five sectors fuel emissions, half fumble on renewable energy in FY23

The data also revealed a concentration of other critical environmental factors, such as water withdrawal and waste generation

Power consumption grows nearly 8% to 847 bn units in first half of FY24

India's electricity consumption grew nearly eight per cent to about 847 billion units (BU) in the first half of this fiscal year from April to September, showing uptick in economic activities in the country. According to the official data, electricity consumption rose to about 847 BU during April-September 2023 from 786 BU in the same period of the previous fiscal. The industry experts opined that the widespread unseasonal rain in April, May and June has affected the power consumption as it could have grown in double digits in the country. They stated that there was strong recovery of power demand as well as consumption in August onwards due to unusually high humidity level which increased the use of cooling appliances like fans, coolers and air conditioners. They also said power consumption grew in August and September, mainly due to humid weather conditions and also perked up industrial activities ahead of the festive season. The data also shows that peak power demand touched a

Congress alleges corruption in cancellation of Kerala power contracts

The Opposition Congress on Saturday targeted Kerala Chief Minister Pinarayi Vijayan over the recent cancellation of contracts in the power sector signed during the UDF regime and urged the Left government to probe the "corruption" behind the move. There is "conspiracy and corruption" by the Left government and the state Electricity Regulatory Commission is behind the cancellation of long-term power contracts signed during the time of the previous UDF government, it alleged. Senior Congress leader and Leader of Opposition in the assembly V D Satheesan said they won't allow the authorities to impose the liability of the Kerala State Electricity Board (KSEB) Limited on the public. The Kerala State Electricity Regulatory Commission (KSERC) had been turned into a government-sponsored body by inducting nominees of the ruling CPI(M), and they had helped the authorities facilitate corruption, he charged. The LoP's statement came days after the state cabinet, chaired by CM Vijayan, decided

Undeterred by ESMA, power company employees continue to strike in MP

Thousands of employees of electricity companies in Madhya Pradesh have defied the Essential Services Maintenance Act (ESMA) to continue their agitation to press for their demands, including an end to the privatisation of the power sector in the state. A top government official asserted that alternative arrangements have been put in place and there is no hindrance in power supply in the state. The government clamped ESMA two days ago, the senior official said. ESMA is aimed at ensuring the delivery of certain essential services like public transport, health and power and prohibits employees involved in these key services from striking work. Those defying ESMA may faction action as per the rules. The agitating employees belong to six organisations involved in electricity generation, transmission, distribution and power management in MP. According to VKS Parihar, president of the United Forum for Power Employees and Associations, about 30,000 engineers and other employees of these ...

Kerala govt urges CERC to reinstate cancelled contracts in power sector

In a bid to meet the electricity requirements of Kerala, the state government on Wednesday decided to urge the Central Electricity Regulatory Commission to reinstate contracts in the power sector that it previously denied permission to. The decision was taken at a state cabinet meeting chaired by Chief Minister Pinarayi Vijayan. The state government said it would give this direction to the Central Electricity Regulatory Commission under Section 108 of the Electricity Act. State Power Minister K Krishnankutty said that the key regulator is legally bound to follow the direction of the state government. "If the direction is being given invoking Section 108 of the Electricity Act, then they are legally bound to accept the direction. We also have the provision for an appeal," Krishnankutty told PTI. In a statement, the CMO said the decision was taken considering public interest and to ensure that the state would not experience a power crisis. Meanwhile, the Kerala State Electricity Bo

Moody's upgrades Tata Power rating to Ba1, maintains stable outlook

According to a report from Moody's, the rating upgrade to Ba1 is driven by Tata Power's solid financial metrics, which are projected to remain above the upgrade trigger set for the earlier Ba2 rating

India need subsidies to meet renewable energy targets: Energy Vault exec

Renewable electricity available at any time of the day and night "is sort of a holy grail," Piconi said. "It's not achievable with the current technologies, because they are not economical."

Discoms propose asset monetisation to charge up working capital needs

The move comes at a time when states are facing record power demand

Assam govt approves Rs 5,197 cr project for power sector modernisation

The Assam government on Saturday approved a Rs 5,197-crore project to modernise the power distribution infrastructure across the state. The detailed project report for the implementation of the distribution infrastructure work in the power sector got a cabinet nod during the day in its meeting chaired by Chief Minister Himanta Biswa Sarma. "Total DPR cost for modernisation and system augmentation works is estimated to be Rs 5,196.91 crore," a cabinet communique shared by Sarma on X said. The project for modernising the power distribution system of Assam will be implemented under the Union government's Revamped Distribution Sector Scheme. The cabinet note also said, "The project is targetted to be completed by March 31, 2026 and will benefit approximately 67 lakh electrical consumers across the state." The council of ministers also decided that a power purchase agreement would be executed for 100 MW at rates offered by Solar Energy Corporation of India (SECI), enabling Assam to pro

UK firm secures lucrative order to supply Indian solar facility in Gujarat

A small cleantech firm in south-east England has secured a GBP 4 million order to supply its technology to a projected 2.0-gigawatt solar facility in Mundra, Gujarat, according to a top company official. Gas Recovery and Recycle Limited (GR2L), an MSME (micro small and medium enterprise) business in Surrey, claims to have developed, patented and exported cutting-edge technology to reduce the energy consumption, carbon footprint and cost of manufacturing solar panels. It was backed by UK Export Finance (UKEF), the UK government's export credit agency, with a GBP 475,000 guarantee issued under its Bond Support Scheme that helped secure the Indian order. Building on our existing export successes, support from Lloyds Banks and UKEF helped us to secure this latest growth opportunity and further develop our established international presence. I look forward to commissioning our machinery by the end of 2023, said Rob Grant, CEO and founder of GR2L. With production of brand-new argon creati

India may add up to 30 GW more thermal power capacity, says R K Singh

Union Power Minister R K Singh on Friday said that India may add 25 GW to 30 GW thermal electricity generation capacity in addition to 50 GW already under works to meet the rising demand. Addressing at a CII conference, Singh said that India has around 25 GW of thermal capacity under construction and another 25 GW is planned. He pointed out that India is growing at a rapid pace and electricity demand is rising very fast, which needs to be met. He stated that the country may add another 25 GW to 30 GW of thermal power capacity to meet the demand. Power demand in the country has already touched a record high of 241 GW early this month.

GMR Power wins new contract for smart meters; stock hits 10% upper limit

Earlier on September 3, GMR Group had received Letter of Award (LOA) worth Rs 5,123 crore for smart metering project from Purvanchal Vidyut Vitran Nigam Limited.

Torrent promoters may pledge stake in power arm to fund Cipla buy

Torrent's promoters own a 53.6 per cent stake in Torrent Power, valued at Rs 18,643 crore as of Friday, which remains a crucial avenue for raising funds for the Mehtas

Power related stocks in demand; NTPC, PFC, REC, Tata Power rally up to 9%

The power sector in India, is on course for a long period of high growth and transformation which is visible in the increasing deployment of clean renewables.

Jakson Green order book reaches Rs 5,000 cr within a year of inception

Energy transition platform Jakson Green on Thursday said it has achieved an order book of Rs 5,000 crore renewable order book within a year of its inception. "Jakson Green, a new energy transition platform backed by India-based infrastructure and renewables conglomerate, Jakson Group, proudly announces its monumental achievement of amassing a renewable EPC order book of around Rs 5,000 crore within a year of inception," the company said in a statement. This extraordinary feat was recognised through a series of recent order victories in India, GCC, West Africa and CIS region, marking an unprecedented milestone in a remarkably short timeframe, it added. The company's ascent to this substantial order book has been driven by its success in securing pivotal utility-scale renewable EPC projects in West Africa, GCC and CIS countries, alongside a substantial array of renewable EPC contracts in India. Jakson Green recently inked significant deals with leading renewable energy developers to

Dividend fund managers plug into power stocks as outlook improves

Improving outlook stokes optimism of higher payouts

SJVN hits new high, up 5% on securing new orders

The stock has rallied over 90 per cent so far in FY24 on the back of strong order inflows.