The Indian and French governments have signed an agreement to expedite work on the 9,600 MW Jaitapur nuclear power plant in Maharashtra and commence work on the site by the December 2018. The plant is being jointly developed by Nuclear Power Corporation of India Limited (NPCIL) and EDF France, however, the entities are yet to agree on the cost per unit and the credit aspect of the project. The Indo-French nuclear agreement for the development of the plant was signed in 2008 with six reactors of 1,650 MW capacity each.
NTPC Limited has commissioned the third 800 MW unit of the 2,400 MW Kudgi Super Thermal Power Station in Karnataka. With this, the total capacity of the company stands at 45,300 MW, while that of the NTPC group stands at 52,191 MW. NTPC plans to become a 130 GW power generation company by 2032. In a separate development, NTPC has invited bids for 2 GW of inter-state transmission system (ISTS) solar photovoltaic (PV) projects to be developed across the country. The projects would be installed on a build, own, operate (BOO) basis and the bid submission is due on April 24, 2018. NTPC has also invited bids for three 250 MW solar plants to be installed at the Ananthapuramu Ultra Mega Solar Park in Andhra Pradesh. The last date for the submission of bids is April 12, 2018.
NLC India Limited is planning to invest Rs 1.29 trillion for increasing its power generation and mining capacity. The investment will be used to increase the company’s total mining capacity to 62.66 million tonnes per annum (MTPA) compared to 30.60 MTPA at present. The power generation capacity is targeted to be increased to 16,580 MW from 4,431 MW, taking the company’s total installed capacity to 21,011 MW. The additional power capacity would comprise 5,980 MW of coal-based capacity and 4,060 MW of renewable energy capacity. The investment will also fund the proposed acquisition of assets.
THDC India Limited has invited bids for the construction of up to 100 MW of solar parks in Uttar Pradesh. The scope of work would involve the provision of engineering, procurement and construction (EPC) of the grid-connected projects as well operation and maintenance (O&M) services for 25 years. A minimum capacity of 10 MW can be installed at a single location, however, no more than 30 MW capacity can be set up in a single district. The last date for the submission of bids is March 27, 2018.
Andhra Pradesh Power Generation Company Limited (APGENCO) has commissioned a 600 MW unit at the Rayalaseema coal-based power plant in Cuddapah. The unit has been executed by Bharat Heavy Electricals Limited (BHEL) which has supplied all of APGENCO’s coal-based projects so far. BHEL’s scope of work in the project included design, manufacturing, supply, erection, and commissioning of the steam-generator, turbo-generator, electrostatic precipitator, and associated equipment.
The Association of Power Producers has written to the Reserve Bank of India (RBI) requesting a relaxation of recent guidelines (released in February 2018) regarding stressed assets. As per the guidelines, even a one-day default in debt servicing for accounts with exposure of over Rs 20 billion would warrant formulation and implementation of a resolution plan. If failed, within three months, the cases will have to go to the National Company Law Tribunal. As per the APP, the new guidelines disincentivise loan restructuring in the power sector and seek the sale and change of control for stressed developers.
France-based ENGIE Solar has inaugurated a 75 MW solar power plant at Vijaypur village in Mirzapur, Uttar Pradesh. The plant, the biggest in Uttar Pradesh, has been set up under the Ministry of New and Renewable Energy’s solar park scheme. A viability gap funding of Rs 7.42 million per MW was provided by the government for the project. Built at a cost of Rs 5.28 billion, the plant is expected to generate 130 MUs of electricity per annum.
The Suzlon Group has manufactured and installed India’s largest wind turbine generator with a rotor diameter of 18 meters at Sanganeri in Tamil Nadu. The S128 wind turbine generator is available in 2.6 MW to 2.8 MW variants and offers hub heights up to 140 meters. This will enable the company to offer reduced levellised cost of energy and unlock unviable sites.
CETC India, a subsidiary of China Electronics Technology Group Corporation has laid the foundation stone of a 200 MW solar PV cell manufacturing park (phase 1) at Sri city in Andhra Pradesh. The plant will be built over an area of 18 acres with an initial investment of Rs 3.2 billion. The project is expected to be commissioned by March 2019.
Projects and Ventures
L&T Special Steels and Heavy Forgings Private Limited, a joint venture (JV) of L&T Limited and NPCIL, has secured an order worth Rs 4.42 billion for the supply of forgings for steam generators from NPCIL. The forgings would be used for manufacturing critical equipment for six new indigenous 700 MWe pressurised heavy water reactors (PHWR). The step is in line with the union government’s plan of installing ten PHWR units.
German wind turbine manufacturer, Senvion Wind Energy Solutions, has secured a contract to build the 30 MW Tithwa wind farm in Gujarat for ENGIE. Senvion will also provide O&M services for the project for a period of 10 years. The project is expected to be completed by March 2019.
Debt and Equity
The Indian government will provide $1.4 billion of credit for 27 solar projects across 15 countries at the inaugural conference of the International Solar Alliance (ISA) held on March 11, 2018, in New Delhi. In addition, France has committed €700 million in investment to the ISA taking the total commitment to €1 billion.
The European Investment Bank (EIB) has signed a long-term agreement with the Indian Renewable Energy Development Agency (IREDA) worth €150 million to finance clean energy projects in the country. This is the second line of credit extended by EIB to IREDA. The previous line of credit had enabled the development of projects aggregating 600 MW over a span of four years
Power Grid Corporation of India Limited has entered into an agreement with the State Bank of India (SBI) for a Rs 50 billion term-loan for funding its capital expenditure. The amount will be used for meeting capital expenditure for expansion/renovation and setting up various undergoing and new transmission and other projects in the company. Powergrid has planned a capital expenditure of Rs 250 billion for 2018-19.
Rural Electrification Corporation (REC) has raised $300 million through Dollar bonds. The 10-year Regulation-S bonds were priced at a coupon of 4.625 per cent. The bond issuance has received an overwhelming response with an order book of over $900 million.
NTPC Limited is likely to finalise the acquisition of Bihar State Power Holding Company Limited’s (BSPHCLs) entire stake in its JV projects at Nabinagar and Kanti for close to Rs 30 billion. NTPC Limited holds 64.57 per cent stake in Kanti Bijlee Utpadan Nigam while the remaining 35.43 per cent stake is held by BSPHCL. The Nabinagar Power Generation Company Private Limited is also a joint venture of BSPHCL and NTPC with a 50:50 equity stake. Reportedly, NTPC is also seeking to acquire the power generation units owned by Rajasthan’s state utilities.
Mytrah Energy (India) Private Limited is in talks to raise $500 million by selling a stake in the company. The company has an operational renewable energy portfolio of 1,600 MW and plans to reach 2,000 MW by July 2018. In September 2017, the company had raised $277 million from the Piramal Group.
ReNew Power Ventures Private Limited is in advanced talks to buy the solar power assets of Waaree Energies Limited. The proposed deal, covering debt and the operational solar assets of Waaree Energies, will be worth Rs 5.5 billion ($85 million). Waaree Energies has operational assets aggregating 75- MW of capacity, spread across Madhya Pradesh and Andhra Pradesh. The rest of the firm's solar assets of capacity 25 MW, are under construction and not part of the deal. The proposed deal will help Waaree Energies part-exit power generation business and focus on panel-making as well as EPC.
The Central Electricity Regulatory Commission (CERC) Has Issued The Cross Border Trade Of Electricity Regulations, 2019
The Central Electricity Regulatory Commission (CERC) Has Notified The Tariff Regulations, 2019
Cabinet Committee On Economic Affairs (CCEA) Has Allowed Coal Block Allocatees The Flexibility To Sell 25 Per Cent Of The Coal Output In The Open Market On Payment Of An Additional Premium.
The Ministry Of Power (MoP) Has Proposed Incentives Worth Rs 885 Billion To Encourage Power Plants To Install Emission Control Equipment And Develop Infrastructure For Electric Vehicles (EVs).
The Central Electricity Regulatory Commission (CERC) Has Notified The Terms And Conditions Of Tariff (Second Amendment) Regulations, 2019
The Ministry Of Coal (MoC) Has Agreed To The Proposals Submitted By The Cabinet Secretary P.K. Sinha-led Panel
The Ministry Of Power Is Planning To Finalise The Proposed Hydro Policy In Order To Revive Stalled Hydropower Projects Aggregating About 5,950 MW
The Central Electricity Regulatory Commission (CERC) Has Issued A Discussion Paper On “Market Based Economic Dispatch Of Electricity: Re-designing Of Day-Ahead Market (DAM) In India”
The Ministry Of Power Has Decided To Convert All Existing And New Meters Into Smart And Prepaid Meters Within Three Years Starting From April 1, 2019
The Central Electricity Regulatory Commission (CERC) Has Notified The Draft CERC (Terms And Conditions Of Tariff) Regulations, 2019
The Central Government Has Constituted A Group Of Ministers (GoM) Headed By The Finance Minister To Examine
The Ministry Of Power Has Announced That The Households In Eight More States Have Achieved 100 Per Cent Electrification Under Saubhagya.
The Central Electricity Regulatory Commission Has Notified The Deviation Settlement Mechanism (DSM) And Related Matters (Fourth Amendment) Regulations, 2018
The Ministry Of Power Is Planning To Introduce An Electric Vehicle (EV)s Charging Infrastructure Policy Which Would Allow Individuals To Set Up Charging Stations For Commercial Use.
The Ministry Of Power Has Notified An Amendment In The Methodology For Use Of Coal By States In Private Generating Stations Under ‘Case-4: Flexibility Of Utilisation Of Coal In IPPs.
The Supreme Court Has Asked The Central Electricity Regulatory Commission (CERC) To Review Power Purchase Agreements (PPAs) Of The Thermal Power Plants (TPPs) By Adani Power Limited, Tata Power Company Limited And Essar Power Limited In Gujarat.
The Ministry Of Coal Has Issued A Tender For Allocation Of Coal Mines For Companies Engaged In Specific End-use Sectors
The Ministry Of Power (MoP) Has Announced Rs 1 Billion Award For States That Would Complete Household Electrification Early Under The SAUBHAGYA Scheme
Coal India Limited (CIL) Has Signed A Memorandum Of Understanding (MoU) With NLC India Limited For The Formation Of A Joint Venture
The Central Government Is Likely To Resume Allotting Coal To Merchant Power Plants That Supply Electricity To The Short-term Market
The Ministry Of Environment Forest And Climate Change Has Accorded Environmental Clearance To NTPC Limited For The 1,320 MW Talcher Expansion Thermal Power Project In Odisha
The Ministry Of Environment, Forest And Climate Change (MoEFCC) Has Issued A Draft Notification To Add A New Rule In Environment Impact Assessment Notification, 2006
The Ministry Of Power (MoP) Has Notified The Draft Electricity (Amendment) Act, 2018 Carrying The Proposed Amendments To The Electricity Act, 2003.
The Central Electricity Regulatory Commission (CERC) Has Notified A Discussion Paper Titled ReDesigning Ancillary Services Mechanism In India.
Ministry Of Power Has Issued A Direction To The Central Electricity Regulatory Commission (CERC) To Allow Changes In Any Central Or State Government Duties To Be Passed Onto Electricity Tariffs To Consumers Post Bidding
The Central Electricity Regulatory Commission (CERC) Has Notified The Draft Open Access In Inter-State Transmission (Fifth Amendment) Regulations, 2018
The Parliamentary Standing Committee On Energy Has Recommended That A New Framework Must Be Adopted To Resolve The Issue Of Stressed Power Assets
The Central Electricity Regulation Commission (CERC) Has Issued The Planning, Coordination And Development
The Ministry Of New And Renewable Energy (MNRE) Has Suggested The States To Waive Off Certain Cess And Taxes To The Developers Of Small Hydro Power (SHP) Projects (less Than 25 MW Capacity) For Six Years
The Ministry Of Power (MoP) Has Notified A Draft Concept Note On Merit Order Operation For Flexibility In Generation And Scheduling Of Thermal Power Stations
The Ministry Of Power Has Proposed To Change The Mandatory Default Setting For Air Conditioners
The Ministry Of Power (MoP) Is In The Process Of Finalising Guidelines To Improve Coal Supply To Thermal Power Plants
The Central Government Has Launched The National E-Mobility Programme To Provide An Impetus To The E-mobility Ecosystem In The Country
The Nuclear Power Corporation Of India Limited
The Ministry Of Power (MoP) Is, Reportedly, Planning To Amend The Electricity Act, 2003 To Impose Penalties On Discoms For Load Shedding And To Introduce Direct Subsidy Transfers By State Governments To Consumers.
FLY ASH UTILISATION 2018 Conference Expo And Awards Is Scheduled On 15-16 March 2018
100 Years - A Century Old Legacy
The Ministry Of Environment, Forests And Climate
NTPC Limited Is Planning
The Ministry Of Power (MoP)
The NITI Aayog Is Expected To Introduce
The Central Government Is Planning To Soon Notify A New Policy On Coal Linkages
Macawber Beekay Has Received The Recommendations From American Society Of Mechanical Engineers
The Ministry Of Power Has Issued
Indian And Bangladeshi Companies
The Central Electricity
The Central Electricity Regulatory
The Ministry Of Power (MoP) Is At An Advance Stage
Coal India Limited(CIL) Is Offering Domestic
The Central Electricity Regulatory Commission
The NITI Aayog Has Notified The Draft National
The Ministry Of Power Has Evaluated The Status Of 34 Stressed Thermal Power Plants
The Niti Aayog Hasasserted In ItsThree-year Action Agenda
Raj Kumar Singh Has Been Appointed As The New Union State Minister For Ministry Of Power
The Ministry Of Power