Page 19 - Power Sector

Torrent Power board to consider plan to raise up to Rs 3,000 cr via NCDs

Torrent Power board will consider a proposal to raise up to Rs 3,000 crore through the issuance of non-convertible debentures on a private placement basis. A meeting of the Board of Directors is scheduled to be held on Monday, May 29, 2023, to consider and approve the raising of funds by issuance of non-convertible debentures up to Rs 3,000 crore through private placement basis, a BSE filing showed. The board will also consider and approve audited standalone and consolidated financial results for the quarter and year ended March 31, 2023, and recommendation of final dividend, if any, on the equity shares of the company for FY 2022-23.

Peak power demand hits historic high of 220 Gw, may cross that level soon

Figure is in sync with power ministry's estimate that demand would top 220 Gw in Apr-June quarter

Power minister asks industry to set targets under Green Open Access Rules

Union New and Renewable Energy Minister R K Singh on Saturday directed the industry to set targets under Green Open Access Rules 2022. In June 2023, the government notified the Green Open Access Rules 2022 to further accelerate India's renewable energy programmes. These rules were notified for promoting generation, purchase and consumption of green energy including through waste-to-energy plants. It also enables a simplified procedure for the open access to green power. Singh chaired a meeting with Industry and other stakeholders in New Delhi on Green Energy Open Access Rules, an official statement said. "The minister exhorts industry leaders to set targets for going green. He called upon the industry leaders to set targets for going green and take advantage of the provisions of Green Energy Open Access Rules to get green power at reasonable rates," the ministry of power said. The Green Energy Open Access Rules 2022, Singh said, are a major step towards India cutting emissions by

Torrent Power incorporates two wholly-owned subsidiaries TU9, TU13

Torrent Power on Thursday said it has incorporated two wholly-owned subsidiaries -- Torrent Urja 9 Pvt Ltd (TU9) and Torrent Urja 13 Pvt Ltd (TU13) -- for carrying out business in the power sector including renewables. "Company has incorporated a WOS (wholly owned subsidiary) namely 'Torrent Urja 9 Private Limited' (TU9) on April 26, 2023," a BSE filing said. TU9 is incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on April 26, 2023 and is yet commence its business operations. It stated that the TU9 is a wholly-owned subsidiary of the company. TU9 is incorporated with an objective to carry on the business of generation, transmission, distribution, purchase, procurement, sale, trading, import, export or otherwise deal in all forms of electrical power and energy including non-conventional and renewable sources of energy. TU9 has 10,000 equity shares of Rs 10 each with paid up share capital of Rs 1,00,000. Another BSE filing stated that the .

TMS Ep 419: Telco wars, brand Sachin, power stocks, SpaceX's Starship

Why are telcos pointing fingers at each other? Did Brand Sachin enable Brand Dhoni and Kohli? Will heat waves spark a rally in power stocks? What is SpaceX's Starship space vehicle? Answers here

Power demand in India shrinks in March thanks to unexpected rains: CRISIL

The fall in demand also led to a fall in power generation by 7 per cent YoY in March as compared to the same month last year

Privatisation of power sector in Pondy will not affect consumers: Minister

Puducherry Home and Electricity Minister A Namassivayam on Wednesday allayed the fears of the elected members and also members of public that the government's decision to privatise power sector would hit employees and consumers in the Union Territory. Replying to the views expressed by the members during the debate on demands for grants to his departments including Electricity in territorial Assembly, the Minister denied rumours that the privatisation of power sector would affect the employees, consumers and the farmers here. He also said that there was "unfounded rumour" that the assets of the Department of Electricity were worth Rs 20,000 crore and that they would all be transferred to the private players once privatisation materalised. "The value of the assets is only Rs 1,030 crore and after depreciation it would come to Rs 551 crore," Namassivayam said. "No immovable properties would be handed to the private players. The land belonging to the government now used by the Departme

Power sector dues to coal companies over Rs 20,000 cr for supply of fuel

Increase in outstanding dues of the coal mining public sector undertakings impacts the working capital and cash flow position of coal companies

Railways increases coal transportation for power sector ahead of summer

Expecting a surge in demand for coal by power plants during the summer, the railways increased its coal transportation by 11.92 per cent in terms of tonnage by the end of February, the national transporter said in a statement on Thursday. It also said keeping in view the rising demand in the next few years, comprehensive planning of an energy corridor has been done with planned investment of Rs 1 lakh crore for over around 100 projects. Loading of rakes for the power sector from various sources in the current fiscal -- from April till February -- is 408 rakes a day against 344 rakes a day in last year, an increase of 64 rakes a day, the railways said. In February, 426.3 rakes a day have been loaded for power houses against 399 rakes a day in February last year, an increase of 27.3 rakes, it said. In order to meet the projected demand for rakes by the power sector in the coming fiscal, the railways has taken various steps, including higher induction of coal carrying wagons. From ap

Brighter prospects ahead for power sector stocks amid economic momentum

Though there are a few monitorables, rising consumption should drive up volumes, investment

Decentralised RE will help upgrade India's grid network: GE Grid Solutions

Company's advanced products focussed on grid automation, stability and remote control are being deployed in Rajasthan, UP, J&K and Himachal Pradesh

CERC approves proposal to start new market segment for 'expensive' power

The approval from the CERC, given to the country's largest spot power market, is for electricity derived from costlier sources of imported coal and gas, as well as battery storage

PTC India December-quarter consolidated net profit up 66% to Rs 104 crore

Power trading solution provider PTC India has posted 66 per cent rise in consolidated net profit at Rs 104.48 crore for December quarter 2022-23. In the year-ago period, the profit was Rs 62.91 crore, the company said in a BSE filing on Monday. Total income declined to Rs 3,146.91 crore in the quarter from Rs 3,338.40 crore in the same period a year ago.

Adani Power reports 96% decline in profits, cites high coal import costs

Adani Power on Wednesday reported 96 per cent decline in consolidated net profit at Rs 8.77 crore for December quarter 2022-23 mainly on the back of higher expenses. In the year-ago period, the profit was Rs 218.49 crore, the company said in a BSE filing. Total expenses increased to Rs 8,078.31 crore in the quarter from Rs 5,389.24 crore. Total income rose to Rs 8,290.21 crore from Rs 5,593.58 crore in the same period a year ago. During the quarter, the company and its subsidiaries achieved an average Plant Load Factor (PLF or capacity utilisation) of 42.1 per cent and power sale volume of 11.8 Billion Units (BU), as compared to PLF of 41 per cent and power sale volume of 10.6 BU in Q3 FY22. Operating performance for Q3 FY23 includes the performance of the 1,200 MW power plant of Mahan Energen Ltd, which was acquired in March 2022. Operating performance during the quarter under review was constrained mainly due to high prices of imported coal and insufficient domestic fuel ...

No power supply disruption due to high demand, will import coal: R K Singh

Power Minister RK Singh on Thursday exuded confidence that there will be no disruption in electricity supply due to high demand during summer, and he will not hesitate to import coal and mandate thermal plants to run at full capacity for the purpose. The Indian power system has already met a record power demand of 211.6 GW in June 2022. During the current year 2023, the power demand is expected to be around 225 GW during summer, Singh said in a written reply to the Lok Sabha on Thursday. Asked about rising power demand, Singh told reporters in a press conference, "We are prepared. There is no question of being a disruption in supply if I need to import coal I will import it. If I need to blend, I will blend". He explained that blending (of imported coal) has been happening earlier and so he has no hesitation at all in blending. Singh assured that there is not going to be any shortage of coal. He stated that as far as section 11 is concerned if there is a need ...then I will do ...

India's electricity consumption grows nearly 13% to 126.16 bn units in Jan

India's power consumption logged a double-digit year-on-year growth of nearly 13 per cent to 126.16 billion units in January 2023, according to government data. The robust growth of power consumption indicates sustained momentum of economic activities in January. Experts earlier said the power consumption and demand would increase in January due to the use of heating appliances, especially in the northern parts of the country, and a further improvement in economic activities. In January 2022, power consumption stood at 111.80 billion units (BU), higher than the 109.76 BU in the same month of 2021, the data showed. Electricity consumption in January 2020 stood at 105.15 BU. The peak power demand met, which is the highest supply in a day, rose to 210.61 gigawatt (GW) in January 2023. The peak power supply stood at 192.18 GW in January 2022 and 189.39 GW in January 2021. The peak power demand met was 170.97 GW in the pre-pandemic January 2020.

IndiGrid to acquire 100% stake in Khargone Transmission for Rs 1497 crore

India Grid Trust (IndiGrid) will acquire a 100 per equity stake in Khargone Transmission at an enterprise value of about Rs 1,497.5 crore. The acquisition will be for a cash consideration of an enterprise value not exceeding Rs 1,497. 5 crore, according to a BSE filing. IndiGrid signed a share purchase agreement on January 21, 2023, for the acquisition of a 100 per cent shareholding and economic interest, in one or more tranches, in Khargone Transmission Ltd from Sterlite Power Transmission Ltd (one of the Sponsor of IndiGrid), it stated. The completion of the acquisition would depend upon receipt of Unitholders'' consent, regulatory and other relevant approvals as well as completion of contractual obligations, it explained. The Khargone Transmission was incorporated on November 28, 2015. The transmission project was awarded by the Ministry of Power for a 35-year period from the scheduled commercial operation date, on a BOOM basis. The project has 6 elements. The project has one

TMS Ep349: India Inc yearly outlook, UPI, power stocks, trans-shipment hub

What's behind Indian CEOs' cautious outlook? Will UPI disrupt the billion-dollar remittances market? Will cold wave keep power stocks warm this winter? Why is a trans-shipment hub? All answers here

Rebound in power demand to fire up related stks over medium-term: Analysts

On the bourses, shares of Adani Power, Adani Transmission, CG Power, NHPC, NTPC, and Adani Green Energy have surged up to 61 per cent so far in FY23, ACE Equity data shows

Delhi's peak winter power demand rises to a record 5,526 MW amid cold wave

Delhi's peak winter power demand rose to a record 5,526 MW on Friday as a numbing cold wave swept the national capital, officials said. An official of the BSES said its power distribution companies are geared to ensure adequate availability for its around 47 lakh consumers (around two crore residents) during the winter months. "According to data, Delhi's peak power demand on Friday clocked 5,526 MW at 10.58 am, highest-ever recorded in the national capital during winter months. This is the third day in a row that Delhi's peak power demand has crossed the 5,000 MW mark," the BSES official said. The power demand had peaked at 5,104 MW last year and 5,021 MW in 2020. The peak winter power demand in BRPL and BYPL areas had reached 2,140 MW and 1,122 MW, respectively, during the last winter. Delhi recorded a cold wave for a second day on the trot on Friday, with the minimum temperature at Ayanagar in southwest Delhi plunging to a numbing 1.8 degrees Celsius, according to the India ...