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Investments in the country’s renewable energy sector doubled over the last five years to around $20 billion in 2018
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The number of 4,000 MW mega power plants that were proposed by the ministry of power but never saw the light of the day could go up to at least five if not six, according to two officials familiar with the development. They singled out reluctance of states to buy even existing power as reason behind the MoP‘s likely decision.
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Government has approved the request of Reliance Power to mortgage coal blocks attached to Sasan UMPP to lenders of the plant.
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The Supreme Court today refused
to stay an order of the Appellate Tribunal for Electricity
that allowed Reliance Power-promoted Sasan Ultra Mega Power
Project (UMPP) to recover Rs 1,050 crore dues from procurer
states and Tata Power Distribution Company.
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"Bidding out three ultra mega power projects (UMPPs)- Cheyyur in Tamil Nadu, Bedabahal in Odisha and Banka in Bihar- in this financial year would attract an investment of approximately Rs 90,000 crore," said the document on Implementation of Budget Announcements 2015-2016.
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On the third day of the ‘Make in India‘ week Coal Minister Piyush Goyal told CNBC-TV18's Kritika Saxena that the government would be opening up the process of auction of linkages soon
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Japan figures very high on the Indian government's Look East policy and the Union Power and Coal Minister Piyush Goyal is in the land of the rising sun to attend the Strategic Energy Summit being held there.
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The Indian government will be awarding upto 12 new contracts to build as many new ultra mega power projects within the next two and a half years. This is the announcement made by the energy minister Piyush Goyal who is currently in Japan, attending the strategic energy dialogue.
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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
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The Mundra project is being implemented by Coastal Gujarat Power (CGPL), a wholly-owned subsidiary of Tata Power. "We are in discussion with the lenders' consortium to refinance the loans of Coastal Gujarat Power by extending the tenure of loan repayments," Tata Power said in a filing to the BSE.
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While the start has been strong, Goyal will have to walk the mile to achieve the government‘s target of 24x7 power for every home by 2019, say CNBC-TV18‘s Anshu Sharma and Shereen Bhan.
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The government today decided to de-allocate the Chhatrasal coal block in Madhya Pradesh that supplied coal to Reliance Power's Sasan ultra mega power project (UMPP).
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The power producer would establish a joint venture with Jharkhand Bidyut Vitaran Nigam Ltd for the project as well as for reviving the Patratu Thermal Power Station (PTPS) in Jharkhand. In the JV, NTPC would have 74 percent stake.
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PAC has raised concerns with regard to the appointment of the bid process management consultant. The report adds that EY was unduly favoured as the said consultant, when Icra was the lowest bidder.
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"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.
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The 5-member panel includes Pratyush Sinha (ex-Central Vigilance Commissioner), Pramod Deo (ex-CERC Chairman) and R N Choubey, Special Secretary, Ministry of Power.
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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.
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Reliance Power Friday said the boiler for its sixth and last unit at the 3,960 MW Sasan Ultra Mega Power Project in Madhya Pradesh has started functioning.
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According to Coal India sources, the company believes it will be a tedious process to acquire running mines and allocate manpower.
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Sudiep Srivastava, petitioner in the coal block allocation case says the deallocation will only mean an escalation of prices for Coal India, an escalation that cannot be passed onto consumers, thereby leading to a fall in windfall margins.
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ADAG Chairman Anil Ambani informed that the 4000 MW Sasan's UMPP set up at an investment of Rs 30,000 crore will be completed soon and the group plans to invest an additional Rs 15,000 crore in the project, sources said.
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The Centre was responding to states governments affidavit over the coal blocks allocation. The states governments' affidavit says that they have no role in the allocation of coal blocks and it was solely the Centre's decision.
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The current good run is based on the calculations by the market that investment cycle is going to catch on. However, there has been no change on the ground level, says MS Unnikrishnan.
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Shares of Reliance Power were buzzing in trade today. Sources told CNBC-TV18 that the CBI is likely to close its preliminary enquiry to probe coal block allocation in Reliance Power‘s Sasan project.
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"The project is for design, engineering, manufacture, supply, erection and commissioning of 3 HRSGs (Heat Recovery Steam Generators) from a leading petrochemical Company for its proposed captive power plant as a part of its expansion programme," the company said in a statement.
