Banks in the country would largely remain resilient to the cyclical downturn on improvement in loan loss reserves and common equity injections in 2014, says an India Ratings and Research report. The report underlines a stable outlook for the sector in 2014. However, banks continue to face credit quality pressures from loan concentration, borrowers´ over-leverage and the prevailing economic slowdown. The portfolio of stressed assets is expected to grow from about 10.25 per cent at the end of Sept
Tag: India
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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.
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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.