Tag: power

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’.”

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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.

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.

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.

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.

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.