Tag: energy

Markets remain firm; GAIL, RIL shares advance

Markets remain firm; GAIL, RIL shares advance

06/10/2016 10:16

The key domestic benchmark indices were trading higher in the morning trading session tracking a buoyant trend across markets in Asia and a strong finish at Wall Street overnight as a rally in crude oil prices boosted energy stocks while upbeat US services data signaled strength in the world’s biggest economy, boosting risk taking appetite.

A better outlook for Asia’s third biggest economy amid the 25 basis points interest rate cut by the Reserve Bank of India (RBI) this week which may help revive investment and boost consumption may support sentiment at Dalal Street.

At 10:15 AM, the Bombay Stock Exchange bellwether Sensex was at 28309 up by 88.02 points or by 0.31 per cent, while the NSE Nifty was at 8771.75 points, trading higher by 27.8 points or by 0.32 per cent.

The BSE Sensex touched an intraday high of 28326.73 and an intraday low of 28238.09 while the NSE Nifty touched an intraday high of 8774.8 and an intraday low of 8741.35

The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 411.65,+2.75 per cent), Reliance Industries Ltd. (Rs. 1114.95,+2.35 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 270.55,+1.42 per cent), Hindustan Unilever Ltd. (Rs. 880.40,+1.04 per cent), Tata Motors Ltd. (Rs. 561.90,+0.68 per cent), among others.

Meanwhile, Axis Bank Ltd. (Rs. 529.60,-1.14 per cent), Infosys Ltd. (Rs. 1034.35,-0.65 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 264.85,-0.34 per cent), State Bank of India (Rs. 259.80,-0.29 per cent), Coal India Ltd. (Rs. 320.85,-0.28 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2188 shares traded, 1490 shares advanced, 603 shares declined while 95 were unchanged.

On the global front, Asian stocks were trading higher today as bets rose that the US Federal Reserve may cut interest rates this year as data suggested that the US economy was regaining momentum. US stocks closed higher in the previous trading session as investors cheered upbeat US services data and a slight advance in August factory orders.

ABB to install solar microgrid at Vadodara mfg plant

ABB to install solar microgrid at Vadodara mfg plant

05/10/2016 16:57

ABB India Ltd, a leader in power & automation technologies, on Wednesday said that it will install a fully integrated and standardized microgrid at its Vadodara facility in Gujarat to help boost renewable energy generation while reducing dependency on fossil fuel.

“This microgrid, with a rooftop photo voltaic field at the company’s biggest manufacturing location in India with around 3,000 employees, will help ensure uninterrupted power supply,” ABB India Ltd said in a filing to the Bombay Stock Exchange on October 05, 2016.

Microgrids are considered a viable and cost-efficient solution to not only improve access to electricity, but also to address other pressing issues related to energy supply, including growing demand, climate change, energy security and reliability for both industries and villages.

The company’s containerized microgrid installation in Vadodara includes a 600 kW rooftop solar photovoltaic (PV) field and a PowerStore Battery grid stabilizing system together with a Microgrid Plus dedicated control system, to help maximize the use of solar energy.

The energy generated during the day will augment power from the grid and reduce dependency on diesel generators in case of grid outages. It results in substantial savings on electricity bills while helping to reduce carbon footprint.

Meanwhile, shares of the company closed at Rs 1,170.20 apiece, down 0.09 per cent, from previous close on BSE.

Suzlon Energy bags orders totalling 111.30 MW

Suzlon Energy bags orders totalling 111.30 MW

23/09/2016 15:51

Renewable energy solutions provider Suzlon Energy Ltd on Friday said it has bagged orders for a combined capacity of 111.30 MW between August and September this year from corporate and SME customers.

“Suzlon announces order wins totalling to 111.30 MW from corporate and SME customers,” the company said in a filing to the Bombay Stock Exchange on September 23, 2016.

This combined capacity includes orders from reputed corporate houses such as Serum Institute of India Ltd, Rajasthan Gum Group and an assortment of SME customers, it added. Further, the corporate and SME orders have been received from a mixed bag of customers across diverse industry segments, including chemical, infrastructure, manufacturing, textiles, power, entertainment etc, it said.

These orders include Suzlon’s latest product offerings the S111 90m tubular tower and S97 120m hybrid tower and also the time-tested S97 90m and S95 90m tubular tower models all with a rated capacity of 2.1 MW each, the company said in a statement.

The company will provide the entire spectrum of turnkey solutions right from the equipment supply till commissioning and also offer dedicated life cycle asset management services for a contractually defined period to these customers.

Moreover, the projects are spread across the key windy states of Andhra Pradesh, Gujarat, Karnataka and Tamil Nadu, and are scheduled to be completed by March 2017.

Meanwhile, shares of the company closed at Rs 15.90 apiece, up 0.32 per cent, from previous close on BSE.

Suzlon Energy wins maiden order from Oil India

Suzlon Energy wins maiden order from Oil India

16/09/2016 17:40

Leading wind turbine maker Suzlon Energy Ltd on Friday said it has won maiden order from Oil India Ltd (OIL) for 52.50 MW project capacity.

“Suzlon secures 52.50 MW maiden order from Oil India Ltd,” the company said in a filing to the Bombay Stock Exchange on September 16, 2016.

The order comprises of Suzlon’s latest product offerings – the S111 90m tabular tower and S97 120m Hybrid tower with a rated capacity of 2.1 MW each, it added.

The project is capable of providing power to over 28,000 households and offsetting 0.11 million tonnes of CO2 emissions p.a., it said.

The company further said that it will provide a comprehensive range of services and dedicated life cycle asset management services for an initial period of 10 years.

Moreover, the said projects are located at Madhya Pradesh and Gujarat and will be completed by June 2017.

Commenting on the development, Suzlon Group, Group CEO, JP Chalasani said, “This order win is a testament of Oil India’s confidence in Suzlon’s technology and execution capabilities.”

Meanwhile, shares of the company closed at Rs 16.10 apiece, up 0.94 per cent, from previous close on BSE.

Shipping Ministry plans 160.64 MW renewable energy projects at ports

Shipping Ministry plans 160.64 MW renewable energy projects at ports

12/08/2016 11:26

The Shipping Ministry said that it is planning 160.64 Mega Watt renewable energy projects at major ports of the country by 2017.

“The Ministry of Shipping is keen to promote the use of renewable sources of energy and is in the process of installing solar and wind based power systems at all the major ports across the country,” said an official statement from the ministry. The Ministry aims to set up 90.64 MW of solar energy capacity at 12 major ports and 70 MW of Wind Energy Capacity at four Major Ports by 2017.

“These major ports have started the process of setting-up the renewable energy projects from their profit earnings. The total financial implications of the solar projects will be 407.7 crores,” said the statement.

The statement also said wind energy projects will be executed in three major ports namely Kandla, V.O. Chidambaranar Port and Kamarajar Port. The total MW capacity of the wind energy projects is estimated to be 70 MW.

“A total of 6.94 MW of solar projects has already been commissioned with Visakhapatnam Port leading the way with 6.25 MW, the other ports in which solar projects have been commissioned are Kolkata Port, New Manglore Port, V.O. Chidambaranar Port and Mumbai Port. The remaining solar power projects will be commissioned phase wise and is expected to be completed by 2017,” said the statement.

According to the ministry, the projects are a part of the Green Port Initiative launched by the Ministry of Shipping.

“These renewable energy projects will help in the reduction of carbon emission and will lead to improvement of the environment around the ports. These projects will also help to reduce cost of power purchased by utilization of renewable energy for power generations,” said the statement.

Electricity may get costlier as states demand higher royalty on coal

11/08/2016 12:13

The State Government of Chattisgarh’s request for a revision in royalty rates on coal to 30 per cent will push up the cost of electricity by 7 per cent or 10-12paisa/kWh, estimates India Ratings and Research (Ind-Ra), a leading rating agency.

According to Ind-Ra report, the government has constituted a study group to consider the revision in the royalty rates based on the request from the State Government of Chattisgarh for a royalty hike to 30 per cent from the existing 14 per cent ad-valorem.

Ind-Ra believes the royalty hike looks quite steep at 30 Ind-Ra, and if accepted, it will lead to coal attracting the highest ad-valorem duty compared to all other minerals.

Since January 2015, coal consumers have been hit by rising prices due to the imposition of DMF and NMET (effective January 2015) taking the effective royalty rate up to 18.48 Ind-Ra from 14 Ind-Ra.

If the revised royalty rates were to be accepted as proposed by Chhattisgarh, the variable cost of generation can increase by another 7 Ind-Ra. On the positive side, coal linkage rationalisation for companies has led to a decline in the transportation costs thus easing some impact.

Industrial power rates are a critical pre-investment consideration for manufacturers and given that bulk of the coal based capacity in India is on a cost pass-through basis, the ultimate impact of such hikes is passed on to the consumers. Such regular hikes in one form or the other is not a healthy sign for the thermal power generators. Ind-Ra believes that as alternate sources of power namely solar see further reduction in tariffs, the competition between thermal and solar will intensify, with a high probability of solar winning.

Process of getting power connection made easier: Min

15/07/2016 10:32

The Power Ministry has said that it has been compulsory to offer an electricity connection within 15 days of application as part of steps taken in last two years to ease the procedure of getting connections.

Commenting on the issue, a Power Ministry Official told the media, “Ministry of Power has undertaken several reforms measures to ease the process of ‘Getting Electricity’ over a period of last two years. These measures will drastically reduce the time taken for getting an electricity connection and will benefited citizens and industry alike.”

“It has been made mandatory to provide electricity connection within 15 days to the consumers in normal conditions,” he added.

As per reports, a simplified procedure for getting electricity connection has been adopted after detailed discussions with Delhi and Maharashtra Discoms and other concerned agencies.

As per reports, Delhi Electricity Regulatory Commission (DERC) has made the essential changes to allow Low Tension connection up to 150 KVA and had also rationalized the tariff for the same in 2015.

India can achieve 1.65 bn units of electricity in 2017: Goyal

08/07/2016 15:15

The country can achieve as high as 50 per cent growth in electricity production up to 1.65 trillion units next year, Power Minister Piyush Goyal said.

“We need to double our power production. Given the infrastructure and generating capacity we have today…We have the ability to double our power production. If tomorrow, we need to add 50 per cent power to our system I am ready for that. We are making about 1.1 trillion units of electricity annually now …We can go up to 1.65 next year,” Power, Coal and Mines Minister Goyal said at INFOCOM 2016.

The minister termed power shortages cited by the states as “technical” arising out of mismanagement.

“Very often states don’t buy and show shortage…There is a mismatch between availability of power and capacity of states to purchase and distribute to last mile connectivity.,” he said.

The minister said there was surplus production of coal now unlike in the past when two-third of India’s power plants were left with only critical coal stocks.

“We have brought in enough coal into the system. Today in the entire country not one power plant has critical coal stock against 2/3rd of the when I became the Minister… As a nation for 55 days if not a single kilo of coal is produced you will have power,” he said.

The minister said Rs 1.11 lakh crore would be pumped in for technological upgradation of power infrastructure through various schemes for rural and urban India.

He added that the government was trying to ensure 24×7 power supply to each household by 2019, three years ahead of the target. Prime Minister Narendra Modi had announced providing power to the last household by 2022.

Gujarat Gas rises over 3% on nod for gas distribution

Gujarat Gas rises over 3% on nod for gas distribution

08/07/2016 13:41

Shares of Gujarat Gas rose over 3 per cent on the Bombay Stock Exchange (BSE) after the company received approval from the Petroleum and Natural Gas Regulatory Board’s (PNGRB) to lay, build, operate or expand city or local natural gas distribution networks (CGD) in Panchmahal and Anand districts of Gujarat.

Boosted by the development, shares of company gained as much as 3 per cent in intra-day to trade at Rs 272.70 apiece against previous closing price of Rs 559 per share on the BSE.

In a similar fashion, stocks of the company surged 3.70 per cent to trade at Rs 563.90 on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 27,152.82, down 48.67 points, or 0.18 per cent, at 1:40 hours.

India set to ramp up nuclear energy sector: Goyal

India set to ramp up nuclear energy sector: Goyal

08/07/2016 11:57

Asia’s third biggest economy is looking to boost up nuclear energy production in a big way with improved thrust on clean energy resources, Union Minister Piyush Goyal said.

“Prime Minister Narendra Modi has given nuclear energy a renewed thrust. We got into nuclear engagement with US in 2008 but from 2008 to 2014 we have seen a hiatus… Now we are into missile technology regime… The amount of progress done in the last two years is pronounced… We are poised to enter into the nuclear age in a big way,” Power, Coal and Mines Minister Goyal said at Infocom 2016.

Goyal said the country is looking at “ramping up its clean energy source significantly” without compromising on safety of people and the government would ensure that power from this source is affordable.

“We will never compromise on safety of our people… We will ensure power is affordable… With these two caveats we are very keen to promote nuclear energy in a big way. We are able to get uranium supplies,” the minister said.

He added the country is close to setting a technology framework and is very close to getting into the nuclear suppliers group.

At the same time he said there was need to do away with fear psychosis and cited example that Kerala does not permit any nuclear station while in Jaitapur in Maharashtra there is an agitation going on.

India at present has a nuclear power capacity of about 6,000 MW.