Karnataka is planning to set up two new thermal power plants to address the increasing demand for power in the coming years. The state minister for energy DK Shivakumar said the government was trying to identify land to set up the proposed power plants.
Category: Power & New and Renewable Energy
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Power Grid to invest Rs.1,900 crore
Power Grid Corporation´s board has approved investment of over Rs 1,900 crore for expansion and upgradation works by the middle of 2016. The board in its meeting approved Rs 908.08 crore and Rs 539.82 crore for two transmission system strengthening schemes in the northern region, Power Grid said in a statement. The expansion and upgradation of load despatch centres for Rs 56.18 crore was also approved by the board.
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IPPs invest Rs.29,308 crore in Odisha projects
Independent power producers (IPPs) have invested Rs 29,308 crore on their proposed coal-based projects in Odisha. The promoters who have spent substantially on their projects are Sterlite Energy Ltd (Rs 8038 crore), GMR Kamalanga Energy Ltd (Rs 5,848.62 crore), Lanco Babandh Power Ltd (Rs 4214 crore), Monnet Power Company (Rs 3200 crore) and Jindal India Thermal Power Ltd (Rs 2,893 crore) and Ind Barath Energy (Utkal) Ltd (Rs 2150 crore). The state government has signed memorandum of understandi
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Revised tariff norms to have negatively impact
The revised tariff norms by the Central Electricity Regulatory Commission (CERC) will have a negative impact on the margins of state-owned utilities such as NTPC, Power Grid and NHPC according to Standard and Poor´s Ratings Services (S and P). CERC, in its final guidelines for tariff fixation, has shifted the incentive structure to plant load factor (PLF) from plant availability factor (PAF) for the period FY14-FY19.
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US trade mission plans $250 mn investments in India
The members of a recent delegation of US investors announced their readiness to invest $250 million worth of investments in India within the next 6-12 months. The 12-member trade mission, which visited Delhi and Mumbai last month, consisted of large US investors in sectors like logistics infrastructure, roads, power and energy, engineering, smart cities, manufacturing, and private equity.
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FIIs investment limit in PowerGrid
The Reserve Bank of India (RBI) has raised the Foreign Institutional Investors (FIIs) investment limit in the Power Grid Corporation to 30 per cent of its paid up capital. The RBI said that FIIs, through the primary market and stock exchanges, can now purchase up to 30 per cent of the paid up capital of Power Grid Corporation of India under the Portfolio Investment Scheme.
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Uttarakhand project gets MoEF clearance
A 300-MW hydroelectric power project in Uttarakhand received environmental clearance from the Ministry of Environment and Forests (MoEF). The project is located in the Upper Yamuna River Basin in Dehradun district. It will produce 612.93 million units of electricity every year. The project will also provide drinking water, water for irrigation, and water for industrial use.
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L and T power plant operational
Larsen and Toubro (L and T) has begun commercial operations of its first 700 MW unit of the 1,400 MW supercritical thermal power plant at Rajpura in Punjab. The plant was constructed on a turnkey basis by L and T Power, with more than 90 per cent of the equipment sourced from group companies of L and T. The supercritical boiler and turbine were manufactured by L and T´s joint venture companies with Mitsubishi Heavy Industries (MHI).
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JSPL acquires Kineta Power
Jindal Steel and Power (JSPL) has acquired 100 per cent stake in Kineta Power, a 1,980 MW privately-owned coal-based power plant in Nellore district of Andhra Pradesh. The deal would be executed in phases and the project cost would be around Rs 10,000 crore. JSPL has plans to run the plant on imported coal from its mines in Indonesia and would blend it with the thermal coal produced at its mines in Mozambique.
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Jaypee Group to sell power assets
Jaypee Group is planning to selling a majority stake in two of its hydro-electric power plants in north India for about $1 billion, according to reports. The group had expanded aggressively into power production and construction during the boom in the Indian economy post 2006. However, the global financial downturn in 2008 and a slowdown in economy has hurt its expansion plans.