Tag: energy

Tata Power’s generation capacity rises 13% in Q1 FY18

Tata Power’s generation capacity rises 13% in Q1 FY18

16/08/2017 16:35

Tata Power, India’s largest integrated power company, on Wednesday said that the company’s generation capacity increased by close to 13 per cent in Q1 FY18 as compared to Q1 FY17.

“The company, together with all its subsidiaries and jointly controlled entities, has an installed generation capacity of 10,466 MW (as of August 2017),” said Tata Power Company in a filing to the Bombay Stock Exchange.

With the commissioning of these projects, Tata Power has significantly increased its presence in the clean energy space with a gross installed capacity of 3,144 MW, it said in the filing.

Overall in Q1 FY18, company continued its robust operations with Maithon Power station generating 1952 MU. Standalone generation for the quarter stood at 3277MU. Trombay Thermal Power generated 1719 MU. Jojobera Thermal Power Station generated 768 MU and Haldia reported generation of 203 MU. Industrial Energy reported generation of 664 MU and TPREL, the renewable energy arm of Tata Power, generated 250 MU in Q1 that includes clean and green energy sources. Total consolidated generation stood at 12405 MU, it added.

Commenting on this development, Anil Sardana, CEO and MD, Tata Power, said, “Tata Power has and will continue to be a part of India’s growth story. With the support of leading technological innovations, excellence in project execution, world class safety processes, customer care, and green initiatives, the company has succeeded in establishing a strong foothold across the country and in select geographies towards creating stakeholder value. We are confident we will continue to significantly contribute towards the vision of ‘Power for All’.”

JSW Energy looks at new opportunities in renewables

JSW Energy looks at new opportunities in renewables

13/07/2017 16:46

JSW Energy is exploring new opportunities in renewable energy space and transmission and distribution segment, the company said in its annual report 2016-17, reported PTI.

Given the stress in power sector, the company anticipates consolidation in the domestic space which would offer it a good prospect for investing in future, it said.

Moreover, going forward, JSW Energy is renewing its focus on cost optimisation and as part of this, planning to utilise domestic coal in its coal mix at Vijayanagar and Ratnagiri plants.

The company is also streamlining elements like operations and maintenance (O&M) and financing costs to achieve maximum cost efficiencies.

It is also undertaking rigorous efforts to tie up its open generation capacity through various offtake arrangements, including power purchase agreements (PPAs) with group captives and discoms.

The report further said GST is also likely to boost economic growth over the medium term as it improves efficiency of goods’ movement between states, avoids tax cascading as well as strengthens tax compliance and governance.

This, it said, is likely to boost GDP growth rate to eight per cent or above, consequently driving power demand.

Suzlon Energy achieves generation yield of 7.66 mn Kwh in 12 months

Suzlon Energy achieves generation yield of 7.66 mn Kwh in 12 months

26/04/2017 15:57

Renewable energy solutions provider, Suzlon Energy said that it has achieved generation yield of 7.66 million Kwh over the last 12 months post commissioning in Kutch, Gujarat.

The group’s revolutionary S111 120 m 2.1 MW wind turbine generator has achieved 42 per cent plant load factor in first 12 months of operation in Kutch, Gujarat.

The prototype was commissioned in March 2016, the company said in a filing to the Bombay Stock Exchange.

The 42 per cent PLF demonstrated by S111 120m is 20 per cent higher than 35 per cent PLF achieved by S97 120m in its first 12 months’ performance at the same location.

The S111 wind turbine generator is the latest addition to the 2.1 MW platform and features the time tested Doubly Fed Induction Generator (DFIG) technology.

With a swept area of 9,852 m 2 the S111 120m is designed to optimally harness wind resources at higher altitudes making low wind sites viable. It not only delivers superior energy yield, but also offers higher return on investment for customers.

The new fleet of Suzlon has garnered encouraging market response from customer segments across the board, it said.

Meanwhile, shares of the company closed trading at Rs 20.85 apiece, up 0.24 per cent from the previous close on BSE.

Adani PowerAdani Power tanks 5% as SC disallows tariff relief

Adani PowerAdani Power tanks 5% as SC disallows tariff relief

12/04/2017 12:08

Shares of Adani Power fell nearly 6 per cent on the Bombay Stock Exchange after the Supreme Court shoots down any relief to the company in the contentious issue of compensation to its power plants.

Weighed down by the development, shares of company declined as much as 5.77 per cent to hit an intra-day low of Rs 35.05 apiece on the Bombay Stock Exchange. The scrip was currently trading at Rs 35.35 against previous close price of Rs 37.20.

In a similar fashion, stocks of company were trading 4.9 per cent lower at Rs 35.35 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 29,607.62, down 180.73 points or 0.61 per cent, at 11:55 hours.

JSW Energy bags order for supply of 650 MW power

JSW Energy bags order for supply of 650 MW power

06/01/2017 16:26

JSW Group flagship firm JSW Energy Ltd on Friday said it has secured an order for supply of 650 MW power from Power Company of Karnataka Ltd (PCKL).

“The company has successfully secured an order from Power Company of Karnataka Ltd (PCKL) for supply of 650 MW upto May 31, 2017 for short term sale of power,” JSW Energy Ltd said in a filing to the Bombay Stock Exchange on January 6, 2017.

Meanwhile, shares of the company closed at Rs 65.35 apiece, up 6 per cent, from previous close on BSE.

IOC extends rally on fuel price hike; scrip hits 52-week high

IOC extends rally on fuel price hike; scrip hits 52-week high

03/01/2017 12:05

Shares of state-run Indian Oil Corporation (IOC) rose over 6 per cent, hitting 52-week high, on the Bombay Stock Exchange following hike in petrol and diesel prices with effective from Sunday midnight. State-run companies have raised petrol prices by Rs 1.29 a litre, and of diesel by 97 paise with effective from Sunday midnight.

Boosted by the development, shares of company gained as much as 6.58 per cent to hit intra-day high of Rs 348.60 apiece on Bombay Stock Exchange.

In a similar fashion, stocks of company rose 5.22 per cent to Rs 344.55 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 26,673.71, up 78.26 points, or 0.29 per cent, at 12:10 hours.

Solar Industries India issues commercial paper worth Rs 25 cr

26/12/2016 16:43

Solar Industries India said that it has issued Commercial Paper worth Rs 25 crore on December 26, 2016, in favour of ICICI Bank.

“In terms of the guidelines issued by Reserve Bank of India, the Company has issued commercial paper for an aggregate amount of Rs. 25 crores on December 26, 2016 in favor of ICICI Bank Limited,” the company said in a filing to the Bombay Stock Exchange.

These commercial papers have maturity date of March 17, 2017, the filing added.

Solar Industries India has grown to become India’s largest manufacturer of Industrial explosives and Explosive initiating systems and spreading its presence to Global Markets.

Meanwhile, shares of the company closed trading at Rs 660 apiece, down 0.25 per cent from the previous close on BSE.

RIL raises $573 mn loan for 6 large ethane carriers

RIL raises $573 mn loan for 6 large ethane carriers

26/10/2016 11:46

Reliance Industries today said it has raised a term loan of USD 573 million to part finance construction of a six very large ships for transportation of ethane from the US.

The firm has ordered six very large ethane carriers (VLECs), the largest ethane vessels ever built in the world.

“The facilities (loan) with door to door tenor of 12 year comprise of a Korea Trade Insurance Corp (K-sure) insured tranche of USD 286.5 million and a commercial tranche of USD 286.5 million,” RIL said in a statement.

“The facilities shall be secured by collateral of respective VLECs.”

VLECs would transport ethane from US to Dahej in Gujarat. The gas will be used for feeding RIL’s crackers at Dahej, Hazira and Nagothane “to ensure consistent supply of ethane at competitive prices.”

The VLECs are financed in a debt-to-equity ratio of 80:20.

“Despite global slowdown in the shipping industry, both tranches of the facilities (loan) were oversubscribed by two times and saw participation from seven banks in K-sure covered tranche and six banks in the commercial tranche. This reflects the strong credit standing of RIL in the international financial markets,” it said.

Banks lending to RIL include The Hongkong and Shanghai Banking Corp Ltd, Standard Chartered Bank, Banc of America Leasing & Capital LLC, Australia and New Zealand Banking Group Ltd, Citibank, DBS Bank Ltd, BNP Paribas, Societe Generale, Sumitomo Mitsui Banking Corp, The Bank of Tokyo-Mitsubishi UFJ Ltd, Credit Agricole Corporate and Investment Bank and JP Morgan Chase Bank NA.

BHEL surges over 5% on commissioning of 3 hydro projects

BHEL surges over 5% on commissioning of 3 hydro projects

19/10/2016 11:54

Shares of Bharat Heavy Electricals Limited (BHEL) soared over 5 per cent on the Bombay Stock Exchange after the company commissioned three hydro-electric projects in Himachal Pradesh.

Boosted by the development, shares of company gained as much as 5.36 per cent in intra-day to trade at 143.45 apiece on Bombay Stock Exchange.

In a similar fashion, stocks of company rose 4.52 per cent to Rs 142.35 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 28,008.44, down 42.44 points, or 0.15 per cent at 12:00 hours.

Sushil Chandra appointed as CBDT chief

Sushil Chandra appointed as CBDT chief

06/10/2016 11:26

Senior Indian Revenue Service officer Sushil Chandra has been appointed as chairperson of the Central Board of Direct Taxes (CBDT), the apex policy making body for the Income Tax department.

He will replace Rani Singh Nair, who retires this month-end.

Chandra, a 1980 batch officer of Indian Revenue Service (Income Tax cadre), is currently Member (Investigation) of the CBDT.

The Appointments Committee of the Cabinet approved the appointment of Chandra as Chairperson of the CBDT to replace Nair, who is superannuating on October 31, an order issued by Department of Personnel and Training said.

IIT graduate Chandra’s tenure will last till May next year, official sources said.

Nair, a 1979 batch IRS officer, had taken over as CBDT chief on August 1 this year, said the media report.

The CBDT is headed by a chairman and can have a maximum of six members.