The idea is that these plants are run by the SPV without any change in their current ownership, for a reasonable period, within which their value could improve as demand picks up. Amid the prospect
But co claims it gave up equity in state-owned holding firm for hydel projects on its own Arunachal Pradesh, the epicentre of hydel power in India, has decided to reverse its contentious decision in 2009 to give 49% equity in its hydro-power corporation to the Naveen Jindal Group. The decision, taken last month, came after a backlash from government departments and other companies having hydel projects in the state against the joint venture, which was a departure from precedent as it effectively gave the Naveen Jindal Group a stake in every upcoming hydel project in Arunachal.
To Provide 1,200 MW Addl Power Lucknow: The power situation in the state is likely to improve a bit with two private sector power plants -- Rosa and Lanco -- getting operational to their full capacity. The UP Power Corporation Limited officials said that all the units of these two plants with combined stalled capacity of 2,400 MW were not working due to commercial dispute, ostensibly caused by non-payment of dues. With all the units of these two plants switched on now, the power situation would be eased out by 1200 MW.
The renewable energy sector in India, led by the wind energy segment, is seeing a rebound in investment with around five deals worth $500 million (approximately . 3,000 crore) being sealed in 2013. In contrast, there has not been a single deal in the conventional energy segment. “Investors are shying away from conventional energy due to policy uncertainties and lack of fuel linkage. While the government has been flat-footed on thermal energy, it is encouraging renewable energy, making the sector attractive for investors,” said Vish Narain, partner at global private investment firm TPG.
After fertiliser, the power ministry has also opposed the recommendations made by the Rangarajan panel to increase domestic gas price from the current $4.2/mmbtu to $8.8/mmbtu, saying it will impact the power sector by about R46,360 crore annually. The gas supplies to the sector have completely halted from the KG D6 block of Reliance Industries, which recently hit an all-time low of 15.5 mmscmd from a peak of 69.43 mmscmd in March 2010.
Mounting dues had recently forced Lanco Infratech, Reliance Power to shut power supply to UPPCL, whose financial health is still as precarious as ever. Uttar Pradesh Power Corporation Ltd (UPPCL) has
Lanco Infratech, which has stopped supplying power to the Uttar Pradesh Power Corporation (UPPCL) due to mounting unpaid dues, has asked the four distribution companies of the state power utility to enter
Faced with stiff opposition from power utilities over the Centre’s move to introduce coal price pooling which could increase price of the fuel by R100 a tonne (5%) or more, the coal ministry may restrict
New Delhi: In a move that exposed a key regulatory lacuna in the power sector, the Power Grid Corporation of India (PGCIL), the central transmission utility, stymied the attempt by some generating companies,
LUCKNOW: The power units promoted by two private houses - Reliance Power's Rosa and Lanco'sAnpara - have stopped working following commercial disputes with UP Power Corporation Limited (UPPCL). While unit-3
Hyderabad/New Delhi: Diversified group Lanco Infratech today said it has won a ruling from an Australian court that allows its subsidiary Griffin Coal to revise coal supply pact with Bluewaters Power Station. The Supreme Court of Western Australia has rejected the plea from Perdaman Chemicals and Fertilisers Pty Ltd (PCFL) on the issue, according to Lanco. PCFL is locked in a AUD 3.5 billion litigation with Lanco over fuel supplies from Griffin Coal. Lanco had acquired Griffin Coal for about AUD 720 million in February last year.
