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The investment for a UMPP of 4,000 MW has been revised from Rs 20,000 crore to about Rs 27,000 crore recently on the basis of rise in prices of coal and land.
Power and Coal Minister Piyush Goyal had said in September that the Power Ministry is at the final stage of framing the new tariff policy, which will soon be placed before the Cabinet for approval.
The Supreme Court has said that in a consortium deal, stamp duty would be applicable on individual transactions not just on a single instrument through which the consortium deal is effected
Top sources have told CNBC-TV18 that the government is looking to set up ultra mega power projects (UMPPs) which have capacity of 4000 MW at sites where there are inefficient or old plants – for more than 25-30 years.
During the next financial year, NTPC has earmarked a capex of Rs 23,000 crore to finance its ongoing and future projects along with meeting its capital requirements.
"Five more ultra mega power projects (UMPPs), under the plug and play model will be set up with total investments of Rs one lakh crore," Finance Minister Arun Jaitley said in his first full-year Budget for 2015-16.
After the withdrawal of private players from the bidding process, the government will tomorrow decide whether to accept the sole bid of NTPC for proposed ultra mega power projects in Odisha and Tamil Nadu.
PFC also invited initial bids for executing 4,000 MW UMPP at Bedabahal in Odisha. The project, to be set up on DBFOT basis, is a coal-fired pit head project near Bedabahal village in the state.
Currently, NTPC is working on coal blocks in Pakri Barwadih, Chatti-Bariatu, Kerandari, and Chatti-Bariatu (South) in Jharkhand; Tallaipali in Andhra and Dulanga in Odisha with total geological reserves of 3,732 million tonnes (mt) and mineable reserves of 2,035 mt.
The Empowered Group of Ministers, headed by Defence Minister A K Antony will meet on Thursday to finalise fresh bidding norms for ultra mega power projects.
The CAG report on power accuses the government of favouritism and benefiting companies like Tata and Reliance Power. In its defense, Reliance Power says, CAG's observations do not factor in looming coal crunch.
CAG reports on the privatisation of the Delhi airport, ultra mega power projects and coal block allocations are likely to be tabled in Parliament on Friday.
ICRA Equity Research Service has come out with its report on Power Finance Corporation (PFC). The research firm has assigned the fundamental grade '4' and the Valuation Grade 'A' to the company in its report dated July 05, 2012.
PMO proposes a technocratic solution to boost private investment in infrastructure, but the real issues are political.
Power Ministry may finalise the amended bidding guidelines for new electricity generation projects this week, a move that is expected to fast-track the award of new thermal plants.
The Confederation of Indian Industry today said that there was a dire need for an infrastructure fast-track board which will monitor projects in the space.
With the extended pre-budgetary period on the roll, the Finance Ministry is guided by reality issues vis-à-vis need of the economy while finalizing the budget.
Taking stock of a spurt in international coal prices due to new regulations in Indonesia, the Power Ministry may tweak the bidding documents for upcoming ultra mega power projects to cater to the possibility of future increases in raw material rates.
Sanjiv Goenka, vice chairman of CESC, said that the power sector still continues to be a good play but power projects are not a good play to begin with. As far as Ultra Mega Power Projects are concerned, Goenka said that the company may partner with Shanghai Electric for the same.
Power utility Adani Power may look at bidding for ultra mega and as well as coal-based power projects having a minimum generation capacity of 4,000 MW.
There will be no excise duty on equipment for Ultra Mega Power projects (UMPPs).
India's power ministry is hopeful of resolving environmental issues regarding a coal block attached to a proposed 4,000 megawatt power project in Orissa by mid-February, Power Secretary P Uma Shankar told reporters on Monday.
