The Indian Railways has formed a new entity Renewable Energy Management Company to handle its renewable energy portfolio
Category: Power & New and Renewable Energy
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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
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Govts move to give more powers to TAMP opposed
The Union Shipping Ministry's move to give more powers to the Tariff Authority for Major Ports (TAMP) has been opposed strongly by the Planning Commission. The Commission has strongly objected to the move of undermining the provisions of the model concession agreement in determining the performance standards of major ports and linking tariff to the performance of ports. The Commission said this would lead to ambiguity and disputes.
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GAIL signs 3.83-lakh-cr US deal to source LNG for 20 yrs
For bringing in close to six million tonne of liquefied natural gas or 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 liquefied natural gas from the US.
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States more empowered in the new Act
India's new land acquisition Bill, praised in some quarters and reviled in others, is a complex piece of legislation. It was passed by the Lok Sabha (29 August) and by the Rajya Sabha (5 September) as well.
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Investment: A legacy of perception?
An India-US Infrastructure Fund that was set up in 2010, but with the US recently lodging a formal complaint against India with World Trade Council on entry barriers to companies, things could be on wait-and-watch mode.
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Powering business
Sushil Maroo has been appointed as Chief Executive Officer and a Director of Essar Energy. Maroo has most recently served as Deputy Managing Director and a Board Director of Jindal Steel and Power and has also served as a Deputy Managing Director of Jindal Power since 2008.
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WB gives facilitation for mega projects in new policy
The new Industrial Policy 2013 of the West Bengal government is to offer facilitation for mega projects. Even the state industry praised the waiver of stamp duty and other business friendly measures announced in the policy. The Bengal Chamber of Commerce and Industry president Kallol Datta said that it is a forward looking and pragmatic policy.
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Schemes on renewable energy
For the development and tapping of renewable energy potential in the country, the Union Ministry of New and Renewable Energy is implementing a number of schemes/programmes, throughout the country.
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Initiative for speedy nod
An Empowered Group of Ministers (EGoM) has been constituted to quickly resolve infrastructural issues and to ensure speedy implementation of power projects in the north-east. The Minister of State (I/C) for Power, Jyotiraditya Scindia said that 94 power projects are pending due to want of clearances in various ministries.