Under the government approved Financial Restructuring Package (FRP), the Union Power Ministry is likely to allow the state electricity boards of Karnataka, Jharkhand and Bihar to convert their outstanding loans, till March 2013, into bonds. Under the FRP, 50 per cent of the accumulated debt of the state discoms till March 2013.
Category: Power & New and Renewable Energy
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Rajasthan to have worlds largest solar plant
Worlds largest solar plant has been planned in Rajasthan to generate 4,000 MW near the Sambhar lake. The solar plants first phase is estimated to be completed by 2016. It is planned to sell electricity from the solar plant at Rs 5.50 per unit. According to a government statement, the proposed solar projects capacity is about three times Indias total solar power capacity.
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R-APDRP implementation panel planned
Restructured Accelerated Power Development and Reform Programme (R-APDRP) scheme implementation is planned in the command area of Central Electricity Supply Utility of Odisha (CESU).For this the Government of Odisha has constituted a 10 member steering committee headed by the chief secretary and panel member comprising development .
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China for nuke plants
As part of effort's to cut the high level of emissions generated by the large-scale use of coal, China plans to build 200 new nuclear power plant's and speed up the construction of 29 more such nuke plants. Chinas demand for nuclear plants will reach 200, with four to six new projects being approved annually before 2015, he added.
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Shriram Group to invest on wind projects
To set up new wind energy projects, Shriram Groups renewable energy subsidiary Orient Green Power has proposed to invest Rs 600-700 crore. The company has already begun to set up projects worth Rs 250 crore. Shriram wants become India's largest renewable energy company with focus on wind energy and biomass with a capacity of around 1,000 MW over the next few years.
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Tatas solar plant in Satara
In Maharashtras Satara district, Tata Power Renewable Energy (TPREL) is developing one of its largest photovoltaic based solar power plants with an installed capacity of 28.8 MW. The plant is to come up in 130 acre. The latest state-of-the-art technology in photovoltaic based solar generation will be utilised for the plant. The Maharashtra State Electricity Transmission (MSETCL) will transmit the power generated from the plant through its network.
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A dynamic manager
Vikalp Mundra, a 40 year old dynamic personality comes with an overall experience spanning over 17 years in the transformer sector. Presently, Mundra is the Joint Managing Director of Ujaas Energy and provides strategic direction in selection of technology
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GAIL signs US deal to source LNG
For bringing in close to six million tonne of LNG every year over a 20-year period beginning 2016-17, GAIL (India) has entered into a $60-billion (about Rs 3.80 lakh crore) deal with two US-based companies. GAIL is the first Asian company to buy LNG from the US.
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IR forms green energy company
The Indian Railways has formed a new entity Renewable Energy Management Company to handle its renewable energy portfolio
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Essar Power to refinance debt via bond issues
In order to refinance past debt, Essar Power issued Rs 1,000 crore worth of rupee denominated bonds. Including this bond issue, the company has so far raised Rs 2,750 crore and it plans to raise another Rs 2,250 crore. With these bond issues, the power generating arm of the London-listed Essar Energy intends to refinance loans wort