Page 21 - Power Sector

Corporatisation of power, agri sectors will be disastrous: K T Rama Rao

The Centre is trying to privatise power and agriculture sectors which will have disastrous impact on farmers and others, Telangana Minister for IT and Industries K T Rama Rao has alleged. Speaking to reporters in Siricilla on Thursday, he said if the Electricity (Amendment) Bill brought in by the Central government turns into an Act, farmers would lose free power, Scheduled Caste members, Scheduled Tribe persons, poultry farmers, washermen, barbers, weavers, and others will have to bid goodbye to power subsidies. Rama Rao reiterated Chief Minister K Chandrasekhar Rao's stand against the reforms in agriculture and power sectors, and reminded the state government's resolution passed in the state assembly against the Bill. "Telangana is a state where farmers cultivate lands relying on power supply. The state has 26 lakh pump sets. What would be the fate of farmers if free power is not supplied?" he asked. Crops are grown across 1.35 crore acres in Telangana. An additional 50 lakh acre

How small modular nuclear reactors may help India to meet energy goals

The adoption of the SMR route could also end the difficult route of developing nuclear technology India has been attempting since the 1950s

India plans to set up strategic gas reserve amid global energy crisis

Amid a deepening global energy crisis, India is planning to set up a strategic gas reserve on the lines of its strategic petroleum reserve (SPR)

Servotech sets up Techbec Industries to make batteries, allied activities

Servotech Power Systems on Friday said it has incorporated a subsidiary, Techbec Industries Ltd, for manufacturing batteries, particularly lithium-ion batteries, and other allied activities. Servotech Power Systems will be the holding company of Techbec Industries Ltd (TIL) and would hold 63.5 per cent share capital in the newly established battery manufacturing entity, the company said in a regulatory filing. The new subsidiary has been incorporated with the authorised capital of Rs 10 Lakh, the filing added. "India must produce its own lithium-ion batteries in order to achieve its EV (electric vehicles) goals without importing any," Raman Bhatia, Founder and Managing Director, Servotech Power Systems said in the statement. The newly launched subsidiary will be an integrated battery storage solution in the market, facilitating its goal of indigenizing battery manufacturing for EVs, E-rickshaws, and varied solar-powered solutions, he said. TIL intends to bring specific focus to ..

RPower, subsidiary to raise debt of up to Rs 1,200 cr from Varde Partners

Reliance Power and its subsidiary have inked a pact with Varde Partners for availing debt of up to Rs 1,200 crore. In a regulatory filing, Reliance Power said the company and its subsidiary have entered into a indicative Memorandum of Understanding (MoU) with Varde Partners for availing debt of up to Rs 1,200 crore (USD 150 million) "for settlement and discharge and/or acquisition and restructuring of certain financial debt availed by Reliance Power." Varde Partners is a leading global alternative investment firm specializing in credit and credit-related assets. The drawdown of the debt will be subject to finalization and execution of binding documents and all requisite approvals including regulatory approvals as per applicable rules/ laws/ regulations, the filing added. The stock exchanges will be updated once the terms of the proposed financing are finalised and the definitive documents in relation to the proposed financing are executed, it further said. Reliance Power Ltd, a pa

Suzlon Energy freezes at 20% upper circuit on heavy volumes

As of 10:08 AM, a combined 228 million equity shares had changed hands in less than hour of trades with pending buy orders for around 45.83 million shares on the NSE and BSE.

Power exchanges clock growth despite pending discom dues worth Rs 1.32 trn

A third player starts operations, pointing to the potential of this nascent business

Financial crisis: TN power utility cracks whip on default local bodies

Officials with the financial department of Tangedco told IANS that an amount of Rs 1,800 crore was due from local bodies of the state

Sector majors line up for power ministry's 10 mn smart meter tender

The first phase of the tender is for procurement of 25 lakh meters which would be installed in states in the Central and Western region of the country

Decoding Azure Power: India's first NYSE-listed renewables company

Stock tanks after new CEO's sudden resignation, whistle-blower complaint

Centre's plan on sale of RE power to states offers only a flickering hope

The power ministry's plan to become an intermediary in the sale of green power generation to states is only a limited solution to the larger problem facing state discoms

Torrent Power and Sembcorp Industries in race to buy Vector Green Energy

The transaction is expected to have an equity value of 30 billion rupees ($377 million) and an enterprise value of 50 billion rupees

Rise in power demand leads to 17% hike in coal supply in July

The overall coal production also went up by 11.37 per cent to 60.42 MT in July as against 54.25 MT in the year-ago period

PowerGrid Q1 consolidated net profit declines 37% to Rs 3,801 crore

Q1 PAT dropped by 8.55 per cent from ₹4,156.44 crore in the preceding quarter

Financial deficit of power distribution sector at highest ever: PFC

Annual rating reveals absolute cash-adjusted losses increased by 10% in the sector between FY19 and FY21

AIPEF Chairman says claims of choice to power consumers 'misleading'

The claim of providing choice of multiple service providers to power consumers in the Electricity Amendment Bill 2022, is "misleading" and will make state-run discoms loss making entities

Govt planning contentious laws to cut power utility debt worth Rs 6 trn

Key proposals include allowing more utilities to operate within the same circles, mandating regulators to set tariffs based on market costs, and defining payment procedures and deadlines

Centre revokes mandatory coal import target after many flip-flops

NTPC and Coal India had awarded import contracts to Adani

Clear your power dues, PM Modi reminds states; here is what they owe

States and UTs, in total, owe over Rs 1 trillion to gencos and about Rs 1.3 trillion to discoms, with Maharashtra owing the maximum

PM Modi urges states to clear power utilities' dues of Rs 2.5 trillion

PM Modi highlighted the financial problems being faced by the power utilities and asked the states to clear the dues as soon as possible