Page 19 - Power Sector

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 ...

Employees of 3 state-owned power Cos to strike from Jan 4 in Maharashtra

Unions of three state-owned power companies in Maharashtra have warned of a 72-hour strike from Wednesday to protest against privatisation of power companies, an official said on Tuesday. The strike has been called by Maharashtra Rajya Karmachari, Adhikari and Abhiyanta Sangharsh Samiti, an action committee of power company unions. "More than 30 unions of drivers, wiremen, engineers and other employees have come together to thwart the attempt of privatisation in the state-owned power companies," Krushan Bhoir, general secretary of Maharashtra State Electricity Workers' Federation told PTI. The Maharashtra State Electricity Distribution Co. Ltd (Mahavitaran), Maharashtra State Electricity Transmission Co Ltd (Mahapareshan) and Maharashtra State Electricity Generation Co Ltd (Mahanirmiti) are the state-owned power companies. Employees of these companies have been staging agitations since the last two to three weeks, while on Monday, 15,000 employees had staged a demonstration outside

CIL's supply to power sector up 11% to 433 MT in Apr-Dec period of FY23

CIL's coal supply to the power sector rose 11 per cent to 432.7 million tonne in the April-December period of current financial year. In the year-ago period, the supply was 390.2 MT. The supply to the non-power sector last month was 10.5 MT due to increased output. Coal India Ltd's output in April-December 2022-23 increased to 479 MT from 413.6 MT in the year-ago period. "To outdo the annual output target of 700 MT, CIL has to produce 221 MT in Q4 FY23 against 209 MT for comparable quarter last fiscal. Our production pace is already up and expected to rise higher. Another point in our favour is large quantities of over burden removal. We feel positive about scaling over the output target," the company said in a statement. The PSU excavated 1,154 million cubic metres (MCuM) of over burden removal (OBR) till December against 968.6 MCuM in the corresponding period last year. The PSU supplied close to 508 MT of coal to all consuming segments in April- December, registering a growth o

Kalpataru international arms secures new orders worth Rs 1,247 crore

Kalpataru Power Transmission Ltd (KPTL) and its international arms have secured new orders worth Rs 1,247 crore. The orders are in India and overseas markets in the T&D (transmission and distribution) business for Rs 1,247 crore, a company statement said. Manish Mohnot, Managing Director & CEO, KPTL, said in the statement, "With these new orders, we have further strengthened and consolidated our market position in India, Saarc and African markets. We expect T&D ordering momentum to remain robust given the thrust on renewables and upgradation of T&D infrastructure in India and International markets". KPTL's YTD (year-to-date) FY23 order inflows have crossed Rs 17,031 crore on a consolidated basis. The existing order book along with our diversified business mix provides good visibility for growth in coming quarters. It is one of the largest specialised EPC (engineering) companies engaged in power transmission & distribution, oil & gas pipeline, railways and civil

Nepal's power sector may lose competitive advantage to India's new policy

Nepal's power sector fears that they will lose the competitive advantage in the Indian market following New Delhi's recent decision to waive off the Inter-State Transmission System (ISTS) charges to India's hydropower projects, a move they say will severely hit their exports. On December 2, India's Power Ministry announced a waiver of ISTS charges on wheeling electricity for 18 years for new hydropower projects. The waiver is already available to solar and wind power projects. The government has set an ambitious plan to have 500 GW of generation capacity from non-fossil energy-based sources by 2030. The waiver is applicable exclusively to domestic Indian power producers and power exported from Nepal is not entitled to this concession. In essence, this will make hydropower generated by Indian companies cheaper than what is being produced by Nepal, according to hydropower experts here. The waiver is already available for wind and solar projects. "This is an internal matter of Indi

Green hydrogen will not be limited by borders: ReNew Power Founder & CEO

'People are looking to get into the manufacturing supply chain, governments are looking at expanding transmission infrastructure,' said ReNew Power founder & CEO, Sumant Sinha

Tata Power plans to raise up to Rs 2,000 cr via bonds to finance biz ops

Tata Power's gross debt marginally rose to Rs 49,535 crore as of September this year, from Rs 47,590 crore as of March

IndiGrid, G R Infraprojects partner for transmission bids worth Rs 5,000 cr

Infrastructure investment trust India Grid Trust and G R Infraprojects have joined hands to bid for identified power transmission projects worth Rs 5,000 crore. "India Grid Trust (IndiGrid), India's first listed power sector infrastructure investment trust (InvIT) and G R Infraprojects Ltd (GRIL), one of India's leading players in Infrastructure sector, have announced a strategic partnership in the Indian power transmission sector," an IndiGrid statement said. An agreement has been signed to jointly bid for identified TBCB (Tariff Based Competitive Bidding) transmission projects aggregating to approximately Rs 5,000 crore, it stated. The power ministry has recently unveiled a plan for investment of Rs 2,50,000 crore in building transmission infrastructure for meeting the vision of 500 GW of renewable energy capacity by 2030 to meet its energy transition goal. There is a meaningful opportunity for private sector to participate in the journey of energy transition and shape the future

NCLT approves merger of Kalpataru Power Transmission, JMC Projects

Kalpataru Power Transmission Ltd (KPTL) on Wednesday said the National Company Law Tribunal has approved the merger of JMC Projects (India) Ltd with the firm, making it one of the country's largest listed engineering and construction companies. The combined entity will have a significant presence in India and projects in 67 countries, with offerings in well diversified areas of power transmission and distribution, buildings and factories, water, railways, oil and gas and heavy civil infrastructure. "Ahmedabad Bench of National Company Law Tribunal today approved scheme of amalgamation of JMC Projects (India) Ltd (JMC) with KPTL, leading to the creation of one of India's large listed diversified engineering and construction company with combined order visibility of nearly Rs 43,000 crores," a company statement said. The Board of Directors of KPTL and JMC approved the scheme of amalgamation in February 2022. Pursuant to the scheme, JMC's shareholders (other than KPTL) will be allotted

Power demand to fall in H2, gencos' receivables to go up: Fitch Ratings

The LPS Rules regulate access to power in case of non-payment of dues by discoms to gencos

TN power utility invites consumer organisations to air grievances

The Tamil Nadu Generation and Distribution Company (Tangedco) has convened a meeting with the voluntary consumer organisations functioning in the North Chennai area on December 31

Kalpataru Power Transmission bags Rs 1,397-cr new orders in India, abroad

Kalpataru Power Transmission Limited (KPTL) on Thursday said it has bagged new orders worth Rs 1,397 crore in the transmission and distribution (T&D) segment. The orders have been secured in India and overseas markets in the T&D business, KPTL said in a statement. "KPTL and its international subsidiaries have secured new orders/notification of awards of Rs 1,397 crores," it said. Manish Mohnot, Managing Director & CEO, KPTL, said these orders in addition to the orders declared earlier during the year have significantly enhanced the company's T&D order book and provide visibility for future growth. "With these new orders, our YTD (year to date) FY23 order intake has reached Rs 15,784 crores at a consolidated level," he added. KPTL is one of the largest engineering procurement and construction (EPC) companies engaged in power transmission & distribution, oil & gas pipeline, railways and civil infrastructure business.