According to an agreement with the Australian firm Apollo Minerals, Jindal Steel and Power (JSPL) would invest A$10 million in NewCo, which is a new company to be formed from the demerger of Apollo's business. Apollo Minerals is a diverse iron ore, base and precious metals exploration company. As part of the demerger, all iron ore assets will be transferred to New
Category: Power & New and Renewable Energy
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Rs 87,176 cr needed for adding 10,897 mw hydro power
The Minister of State for Power Jyotiraditya M Scindia said in Rajya Sabha on March 19 that the generation target from various conventional hydro sources for the first year i.e. 2012-13 of the 12th Plan period has been fixed as 122.045 billion unit (bu). Hydro generation of 104.937 bu has been achieved against the target of 114.048 bu upto February, 2013.
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EIA report says India is 4th largest energy consumer
In its latest report on energy outlook for India, the US Energy Information Administration (EIA) said India is the fourth largest energy consumer in the world after the United States, China, and Russia. But the per capita energy consumption of India remains lower than that of developed countries, says the repo
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NRL executes expansion project
Assam-based Numaligarh Refinery (NRL), a subsidiary of Bharat Petroleum Corporation (BPCL), is in the process of executing expansion projects in order to raise its refining capacity to 8-9 million metric tonnes per annum (mn mtpa) from 3.0 mn mtpa.
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Govt targets to add 30,000 mw renewable energy
The Union Ministry of New and Renewable Energy is targeting a capacity addition of 30,000 mw during the 12th Plan period (2012-17) from various renewable energy sources, This was stated by the Union Minister for New & Renewable Energy Farooq Abdullah in the Rajya Sabha on March 11.
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AP faces power crisis due to faulty policy: Experts
Experts say that the crisis in the power sector is due to faulty government policy and unfair pricing. The opinion was the upshot of the debate by experts who were speaking at a seminar on ĂâPower Crisis in Andhra Pradesh and ChallengesĂâ, organised by the Neelam Rajashekhara Reddy Research Centre on March 17. They pointed out that it was the State government that had brought about the financial mess by not paying dues of Rs 25,000 crore to the discoms.
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Gujarat to bring in offshore wind power policy
Gujarat government is now focusing on tapping offshore wind power generation potential along its coastline. The State has successfully established a solar power generation park in north Gujarat and a series of wind power plants with private companies. Following a positive study report prepared by UK based Atlantis Resources Corporation, the government is now drafting an offshore wind power generation policy that will be announced soon.
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CAG to conduct comprehensive audit
The Comptroller and Auditor General (CAG) will conduct two separate "performance audits" in the oil and gas sector. The first one pertains to the government's role in the supply and pricing of natural gas between 2007-08 to 2011-12, which will cover the pricing of RIL's KG-D6 gas, its allocation to various consumers and supply cuts due t
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Ministry aims to add 30 gw renewable energy capacity in 12th Plan
The Ministry of New and Renewable Energy aims to add 30,000 mw capacity during the 12th Plan period (2012-17) from various renewable energy sources. This information was given by Minister for New & Renewable Energy, Farooq Abdullah in Rajya Sabha recently. About 27,000 mw renewable power generation capacity has been installed in the country from various rene
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JSPL to raise capacity of Angul plant by 4 mn t
Jindal Steel and Power (JSPL) plans to raise the capacity of its steel plant at Angul in coastal Odisha by 4 million tonne (mn t) in the second phase and is working to secure funding for the project. The company is considering 60:40 debt debt-equity ratio for the 4 mn t expansion. But it is not known how much would be the capital expenditure on the second phas