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Category: Power & New and Renewable Energy
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Essar Power issues bonds to refinance debt
In order to refinance its existing debt, Essar Power mopped up Rs 750 crore by issuing rupee denominated bonds. The company, which is part of the London-listed Essar Energy, has a total debt of around Rs 16,500 cr. The bond offering would increase the maturity timeframe of its debt and also enable the firm save on inter
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Gujarat govt seeks cut in tariffs for solar plants
Gujarat government, lauded by India Inc for being business friendly, has stumped industry as it seeks to back out of the high tariffs contracted for nearly 1,000 mw of solar plants of the Tatas, GMR, Adani, Bollywood star Ajay Devgn, Lanco and others. Gujarat Urja Vikas Nigam (GUVNL) has approached the regulator with a plea to reduce tariff from Rs 12.54 per unit to Rs 9 to cut its payment liabilities. It is arguing that the state agreed to pay tariff of 12.54 per unit based on the then availabl
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Odisha to bring in solar policy for more power production
To promote solar power production in Odisha, the State government has decided to formulate a solar policy soon. The policy will help streamline production, utilisation and management of solar energy in the state, Ramesh Majhi, the State's Science and Technology Minister said.
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AP govt invites application from solar power developers
Andhra Pradesh government invited solar power developers to submit applications within four weeks for setting up solar photovoltaic power plant in the state. The state government assured that it would pay Rs 6.49 per kWh of power generated from such plants. AP Transco proposed to rope in any solar power developer, even those who have not participated in the recen
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Goa govt complains to ACB over blackouts in tourist belt
Goa State Power Ministry has filed a case with the Anti-Corruption Bureau (ACB) after sub-standard work by a contractor led to major power cuts in the coastal belt of North Goa last week. The electricity department officials alleged that the kits on the 33 kv underground double circuit line connecting Thivim to Porvorim, travelling 15 km, conked off during monsoons, resulting in black outs in the coastal belt, which is a tourist hub.
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Gas supply proposal for power plants may be discussed
The proposal to give power plants the same priority as fertiliser plants for supply of domestic natural gas would be discussed in an upcoming meeting of the Empowered group of ministers (EGoM). If the EGoM accords the same priority, existing and stranded plants would get natural gas to generate about 2,200 mw power
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GEECL against inclusion of CBM in new pricing regime
Great Eastern Energy Corp (GEECL) took objection to the government's move to bring all forms of natural gas under the pricing regime suggested by the Rangarajan committee formula and approved by the cabinet recently. This essentially means that the coal bed methane (CBM) gas produced from coal seams would also come under the pricing formula suggested by the Rangarajan com
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Stemcor holds parleys with JSPL on selling local unit
Unconfirmed reports indicate that Stemcor is holding discussion with Jindal Steel and Power (JSPL) to sell its Odisha-based unit, Brahmani River Pellets (BRPL). BRPL, which is a unit of the US-based steel trader, owns a pellet plant at Jajpur in Odisha. The pellet plant gets iron ore through a 220-km underground slurry pipeline from BRPL's 4-million tonne per annum bene
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Power producers lobby for diversion of gas
Power developers who run natural gas-based power plants are lobbying for the diversion of gas supply from the fertiliser sector and lowering of the plant capacity for recovery of fixed costs and assured return on equity. Amish Shah of Credit Suisse Research said this in a recent report. Owing to shortage of gas supply, power plants of Lanco, GMR, GVK, Essar, NTPC, RGPPL, Torrent, VBC Group Ăâ with a total capacity of 9,861 mw Ăâ are funct