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.
Category: Power & New and Renewable Energy
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TUV SUD to help modernise power plants
TUV SUD, the global testing, certification, inspection and training provider will contribute to the modernisation and efficiency improvement roadmap for Indian power plants. The company would also support power plant owners in India in modernising their installations. The Central Electricity Authority (CEA) has empanelled the international provider of testing and certification services as a renovation and modernisation (R&M) consultant for thermal power plants.
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Hindustan Power embarks on major investment plan
Hindustan Power Projects, formerly known as Moser Baer Projects, is embarking on Rs 32,000-crore investment plan to have 5,300 MW of capacities in its portfolio in the next three years. The Delhi-based company has already made an investment of around Rs14,500 crore across its projects in solar, coal-thermal and hydro power, according to the company. ?
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Lanco sells hydro power assets
Lanco Infratech has struck a deal with the UK´s renewable energy firm Greenko to sell three hydro power assets with a combined capacity of 80 MW. Lanco Hydro Power has agreed to sell off its entire holding in 70 MW Lanco Budhil Hydro Power Project in Himachal Pradesh to Tejassarnika Hydro Energies, a subsidiary and Indian arm of Greenko. Lanco has agreed to divest two small hydro power plants of 5 MW each located in Himachal Pradesh.
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Work on new power corridor begins
The UP Power Transmission Corporation (UPPTCL) has initiated a project of laying a new electricity corridor between Mainpuri and Greater Noida. The corridor would be around 400 km long and connect to the under-construction 765 kV substation in Yamuna Expressway area. The transmission corridor will be laid in a PPP mode by UPPTCL along with two private companies.
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NALCO commissions 2nd wind power project
National Aluminium Company (NALCO) has set up its second wind power plant at Ludarva in Jaisalmer district of Rajasthan with a capacity of 47.6 MW. This Rs 283 crore project was executed through Gamesa Wind Turbines, which involved erection of 56 wind turbines, each of 850 kW rating. In the first phase of commissioning, 36 turbines were erected. Now, in the second phase, the remaining 20 turbines have been successfully commissioned.
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Karnataka-as new power policy
The Karnataka government will soon announce its new power policy. According to DK Shivakumar, Minister for Energy, Karnataka, the new policy will give thrust on tapping non-conventional energy. He said that the proposed power policy would be an exhaustive one covering all aspects and harnessing solar and wind power to generate electricity under private-public partnership.
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Gas-fired power projects seek policy sops
The cabinet will consider a proposal to subsidise gas-based power plants to prevent electricity from becoming too costly. The power ministry has circulated a draft note for the cabinet committee on economic affairs (CCEA) for improving the viability of gas-based power generation, which seeks approval to allocate financial subsidy by the government to address the issue of substantial increase in the price of domestic natural gas.
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Sembcorp to acquire stake in NCC-Gayatri power project
Sembcorp Industries, a Singapore-based energy, water and marine group, has signed a conditional agreement to acquire 45 per cent stake in NCC Power Projects (NCCPP), which is currently building a 1,320-MW coal-fired power plant in Andhra Pradesh for Rs 848 crore. NCCPP is jointly owned by Gayatri Energy Ventures (GEVPL) and NCC Infrastructure Holdings (NCCIHL).
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A pivotal player
Taking the new responsibility of Director and Group Chief Executive Officer at Punj Lloyd, JP Chalasani is all set to prove his expertise and ability in handling challenging assignments once again. Joining Punj Lloyd from Reliance Power, Chalasani will work closely with the Chairman, Atul Punj and lead the entire management team from the company´s corporate headquarters in Gurgaon.