The market was critical about the foray into electric vehicles which was not its core and not yet fully understood even by the biggest players in this space.
Supreme Court may have given the power sector some leg room but the environment is not conducive for deals in the sector
The power sector reforms will benefit state utilities and remove uncertainty over their returns and cash flows.
To deal with stressed assets, the government has cleared 3760 MW projects worth Rs 31,560 crore. This is a small step for a sector which is sitting on close to 25,000 MW of stressed assets.
Of the 85 mines already allotted, 23 have already started production and the Coal Ministry expects 20 more mines to begin production in the current financial year ending March 2019 or early in the next fiscal.
There are plans to make power generation major NTPC a holding company of the energy sector by acquiring three or more state-run companies
Addressing a press conference, Congress national spokesperson Randeep Singh Surjewala claimed that people of Rajasthan have suffered a "loss of Rs 6,670 crore due to purchase of electricity at 100 per cent above the contracted rates".
India crossed the milestone of electrifying 2 crore households under the Saubhagya scheme, which started in October 2017, on November 19, 2018.
Stressed thermal projects are facing a lack of demand, fuel, equity, regular payments by discoms among other regulatory issues
The key reason for the coal shortage lies not so much in production, which has increased, but in transportation of the fuel
India will have to find out ways to cope with an Rs 4.8 lakh crore debt burden in the power sector. This, however, is most likely to be taken up by the new government formed after the 2019 general elections
34 power assets with a capacity of 40,130 MW remain stressed. The larger issue of ever-enlarging NPAs in the power sector constitutes the main theme of our Story of the Day today.
Experts feel that any delay in bringing a solution to the stressed assets will only deteriorate its value further
Since stressed power plants cannot afford to outbid bigger players, they are forced into a vicious cycle of running below maximum capacity, relying on debt to procure the next shipment of coal to keep the plant operational.
State governments continue to hesitate in taking tough measures to improve power scenario in their states keeping political interest ahead
The power sector is bleeding – both in terms of total losses (UDAY commitments alone account for Rs.2.69 lakh crore) and delayed payments.
"Of the USD 178 billion (around Rs 11.7 trillion) of debt of the power sector, USD 53 billion (around Rs 3.5 trillion) are already under stress (primarily to the generation sector) and of this, as much as USD 38 billion (around Rs 2.5 trillion) have the potential of being written- off as bad loans," the Bank of America-Merrill Lynch report said today.
"Coal will remain the dominant fuel choice for India's power sector, given the vast domestic feedstock available to power generators," BMI Research said in the report.
ICICI Bank has exposure of Rs 6,889 crore towards insolvency accounts and Rs 351 crore non-fund based exposure towards 9 of the 12 accounts referred by RBI to NCLT
The dip in the investments in new projects can be attributed to the lack of any meaningful progress in getting stalled projects off the ground. Currently, projects worth Rs 11.72 trillion are stalled in the country.
One of the largest ARCs in the country, sponsored by Edelweiss Group, it has already bought bad loans worth Rs 630 crore from banks in the three month period from April to June this year.
The government’s policy focus on the power sector and the anticipated increase in generation capacity to 400 GW by 2022 is one of the key drivers for Elantas.
"Coal import (all type of coals) in May 2017 stood at 18.15 MT (provisional), against 19.38 MT in May 2016," according to mjunction services, an online procurement and sales platform floated jointly by SAIL and Tata Steel.
"It is a deliberate policy to re-grade all the mines because I was getting a lot of complaints about grade slippages from the consumers," Coal Secretary Susheel Kumar told PTI. "The minister was also getting a lot of complaints. We thought that it is good to have mines re-graded through a third party," he added.
The increase in supply comes at a time when demand of coal by the power sector has picked up on back of economy doing well.