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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 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). Of the total proposed incentive, about Rs 835 billion would be aimed at curbing sulphur emissions from power plants and the rest will be used for the development of EV infrastructure in 70 cities over five years ending 2025. The MoP’s proposal is in addition to an existing proposal that envisages installation costs for emission control equipment to be passed on to consumers. The ministry's plans come against the backdrop of power sector under financial stress, with loans from mostly state-run lenders turning bad or requiring restructuring.
The central government has proposed to exclude former winners from participating in the second round of coal auction under the Scheme for Allocating Koyla Transparently in India (SHAKTI). The Association of Power Producers has raised concern over this issue as several private generators in the need of coal will be unable to take part in the scheme. As per the scheme document of SHAKTI-II, maximum allocable quantity is 80 per cent of the maximum eligible quantity (calculated in terms of weighted average of the source grades) of all the eligible bidders who have submitted the initial price offer discount.
NTPC Limited has issued a notice to the Jammu & Kashmir Power Development Department warning to regulate power supply for not clearing dues worth Rs 19.85 billion. Of the 19.85 billion, dues worth Rs 16.26 billion are outstanding for more than 60 days with some dues being pending for almost a year. NTPC supplies about 940 MW of power to Jammu & Kashmir. Similar notices were issued to Telangana, Karnataka and Andhra Pradesh in the last week. An increase in receivables, coupled with Rs 2.8 billion underrecoveries in the first three quarters of 2018-19 due to coal shortage, is putting additional pressure on NTPC’s financial performance.
The Prime Minister has laid the foundation stone for seven extra high voltage (EHV) substations and 24 low tension (LT) substations in Itanagar, Arunachal Pradesh. The project is being implemented by Power Grid Corporation of India Limited. The project comprises construction of 24 new 132/33kV EHV substations with 529 MVA transformation capacity and 70 new 33/11 kV distribution substations with 465 MVA transformation capacity apart from laying of 1,917 km of 132 kV transmission lines and 1,923 km of 33 kV lines. The contracts for construction of 18 substations of 132/33 kV, 1,716 km of 132 kV transmission lines and 46 substations of 33/11 kV with associated 33 kV lines of 1,202 km have been awarded. The construction activities in 13 substations of 132/33 kV, 21 substations of 33/11 kV and associated lines under the awarded contracts have already been commenced. The project will augment and improve the present distribution system through 33 kV and 11 kV lines to villages and towns including remote and border areas ensuring strong and reliable transmission and distribution system
NTPC has invited applications for the enlistment of engineering, procurement, and construction (EPC) bidders for the development of solar power projects. The scope of work to be executed by enlisted bidders includes the supply, design, engineering, manufacturing, packing and forwarding, transportation, unloading, storage, installation, and commissioning of grid-connected capacity of 50 MW or more of floating and/or ground-mounted solar photovoltaic projects on turnkey basis. The solar projects will be awarded to multiple or single bidders in single or multiple blocks of 50 MW each. The successful bidder will also have to provide operations and maintenance (O&M) services for the first three years. The last date for submission of application is February 27, 2019.
Odisha Power Generation Corporation Limited (OPGCL) soon plans to commission its 1,320 MW Ib Valley Expansion thermal power project (TPP) at Jharsuguda, Odisha. OPGC is adding two 660 MW supercritical units as part of its expansion at the TPP at a cost of about Rs 110 billion. The process of commissioning of the two units has already started and the commercial operations will start anytime soon. Entire power generated from these two units will be supplied to GRIDCO Limited.
Tata Power Delhi Distribution Limited (TPDDL), the AES Corporation and Mitsubishi Corporation have inaugurated India’s first grid-scale battery-based energy storage system at TPDDL’s substation in Rohini, Delhi. The 10 MW grid-connected system is owned by AES and Mitsubishi Corporation and technology for the project was provided by Fluence, a market-leading supplier of energy storage technology jointly owned by Siemens and AES. The facility will provide grid stabilisation, better peak load management, add system flexibility, enhance reliability and protect critical facilities for 2 million consumers served by the company.
Sterlite Power has submitted bids for a cumulative capacity of 400 MW for two storage projects in the recently concluded auction of Salt River Project utility in Arizona, USA. This marks the foray of Sterlite Power into grid connected battery energy storage systems (BESS). With a drop in total system costs by approximately 60 per cent over the last 5 years, grid connected BESS are rapidly achieving commercially viability for utilities around the world.
Arvind Limited has installed a 16.2 MW solar rofftop plant at its Santej facility in Gujarat. The project is reportedly the largest installation of solar rooftop at a single location in the country. The company plans to reduce carbon emissions by 30 per cent with the installation of rooftop solar projects across its Ahmedabad, Santej and Bangalore facilities and by shifting from coal to biomass for boilers. As company ramps up further through the three-phase installation, it plans to target 40 MW captive solar capacity over time. The rooftop solar installation across facilities will generate 22 million units of power per annum. It will contribute in reducing 20,000 tons of carbon emissions annually and over 500,000 tonnes of carbon emissions over its lifetime. Arvind Limited is a US $1 billion textile company with a focus on textiles, advanced materials, environmental solutions, omni-channel commerce
Power Finance Corporation (PFC) has recorded a standalone total income of Rs 73.62 billion for the quarter ended December 2018, an increase of 18 per cent over Rs 62.46 billion recorded in the corresponding quarter of 2017-18. Its net profit grew by 53 per cent to Rs 20.76 billion from Rs 13.55 billion during the same period.
NHPC Limited has recorded total income of Rs 16.91 billion for the quarter ended December 2018, a decline of 18.14 per cent over Rs 20.66 recorded in the corresponding quarter of 2017-18. Its net profit declined by 73 per cent to Rs 1.82 billion from Rs 6.8 billion during the same period.
NTPC has signed a term loan agreement for Rs 50 billion with State Bank of India (SBI) on February 11, 2019. The loan facility is extended at an interest rate linked to 3-month MCLR of the Bank. This loan has a door to door tenure of 15 years and will be utilised to part finance the capital expenditure of NTPC.
Adani Transmission Limited has acquired KEC Bikaner Sikar Transmission Private Limited at an enterprise value of Rs 2.27 billion. With this acquisition, Adani Transmission has around 13,450 circuit kilometers of power transmission lines. KEC Bikaner Sikar Transmission project comprises of 400 kV D/C transmission line between Bikaner and Sikar in Rajasthan.
Energy Efficiency Services Limited (EESL) plans to approach the bourses for an initial public offering after at least an year. The company expects to have a steady revenue stream by then from the projects which are currently underway. Recently, it announced having raised nearly Rs 30 billion revenue through the Unnat Jyoti by Affordable LEDs for All (UJALA) programme in the past four years. The company has distributed nearly 325 million bulbs at Rs 70 to Rs 180 per bulb to consumers. Under the scheme, about 95 per cent of the consumers went for the upfront payment while 5 per cent went for the installment scheme.
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