Hybrid annuity projects, renewable energy, slowing down on kharif acreage take precedence this week
By Abin Daya The power sector in India is one which has been classified as a ‘negative’ industry by a number of lenders due to the woes surrounding ailing thermal power producers. However, the renewable energy segment was always looked upon favourably due to the phenomenal growth exhibited in the past few years. This segment too might be going through a period of change as we see in this week’s update. While wind energy might be looking at a period of slow growth, changes in duty structures are what the solar power generators might have to encounter. On the infrastructure side, some good news for developers who have been trying to avail financing for projects under the Hybrid Annuity Model. While lenders ...
HAL signs MoU with MoD; targets Rs.17,900 cr revenue in FY18
The Dollar Business Bureau Targeting a highest ever revenue at Rs.17,900 crore for current financial year, state-owned aerospace and defence firm, Hindustan Aeronautics Limited (HAL) on Wednesday signed a Memorandum of Understanding (MoU) with the Ministry of Defence (MoD). HAL has also put special emphasis on modernisation, capacity building and solar power plants, with the aim to attain a capital expenditure (capex) of Rs.1,300 crore, the company said in a statement. The MoU has charted out the targets on several performance parameters for the current fiscal. The MoU was signed by Ashok Kumar Gupta, Secretary in the Department of Defence Production, on behalf of Defence Ministry and T Suvarna Raju, CMD, on behalf of HAL. “The company’s thrust is on ‘Make in India’ projects such as Hindustan Turboprop ...
UN lauds global progress in green energy, calls for more action
The Dollar Business Bureau It has been a little over one year since the Paris deal on Climate change was signed in December 2015, and only a few months since it came into effect after being ratified by around 130 nations. The UN Secretary General, Antonio Guterres, drew attention to the fast expanding clean energy revolution at a UN General Assembly event on March 25, 2017. The international peace-keeping mission leader emphasized India's long strides in augmenting renewable energy capacity, as he spoke about India's target to almost double renewable power capacity to 18GW in 2017. He mentioned that more than half of the new capacity in energy generation worldwide was being created in the green fuel sector. In Europe, the share is more than 90%. While there are ...
Solar generation capacity to cross 20,000 MW in next 15 months
The Dollar Business Bureau Power and Renewable Energy Minister Piyush Goyal on Friday said India’s solar power generation capacity would most likely cross 20,000 MW over the next 15 months from its current capacity of 10,000 MW. "On 10th of March this year the installed solar power capacity in India has crossed 10,000 MW, four times the installed capacity three years back, which in next 15 months would cross 20,000 MW," a Power Ministry said in a statement. Speaking at a media event, Goyal said: "India could not have completely focused on Making in India' in the last three years as being in the nascent stage, its solar power sector needed a technological and financial boost from abroad to rapidly expand its horizons." The ...
India, Norway discuss innovation projects in renewable energy
The Dollar Business Bureau India and Norway have a joint call to target companies for innovation projects in the area of renewable energy. “A joint call was launched between the Department of Science and Technology (DST) of India and Research Council of Norway during a matchmaking workshop at the Norwegian Embassy on renewable energy,” according to an official statement. “The call is for $1 million, targeting innovation projects in companies collaborating with research institutions in the field of renewable energy,” it said. Nearly 80 participants from both the countries had a prosperous and comprehensive discussion on the area. The representatives from both the sides also had a discussion on a broad range of topics such as solar power, wind power, hydro energy, energy storage, artificial ...
Lanco Infratech reports net loss of Rs 813-cr in Oct-Dec
The Dollar Business Bureau Lanco Infratech on Tuesday reported a net loss of Rs.813.66 crore during October-December 2016-17, dragged down by a decline in its operational income. The company had registered a net profit of Rs.35.48 crore during the same period in 2015-16. Lanco Infratech announced in a BSE filing that the company’s total operational income slumped to Rs.1,740.31 crore during the third quarter of the current financial year, from Rs.2,168.48 crore during a year ago period. Lanco Infratech has operations across five sectors: engineering procurement and construction (EPC), infrastructure and property development, natural resources, power and solar. The company’s power (66%) and EPC (12%) sectors together contribute to 78% of its gross revenues. Its total outstanding receivables were Rs.1,396.70 crore ...
Havells to ramp up stake in Promptec Renewable
The Dollar Business Bureau Havells India has acquired a 51% stake in Promptec at an enterprise value of Rs.65 crore. This would ramp up its stake in Promptec Renewable Energy Solutions for an undisclosed amount, the electrical equipment firm said in a statement to BSE. According to it, Havells India has signed a tripartite agreement with its subsidiary Promptec Renewable Energy Solutions Pvt Ltd on Monday. Post-acquisition, the promoter-side of Promptec will continue to hold a 49% stake in the company. This marks the entry of Havells in the field of solar energy. As per the agreement, Havells India has decided to acquire a 70% stake in Promptec and the shareholders of Promptec. Currently, it owns 51% stake in the paid-up share ...
NTPC trades Un-Requisitioned Surplus power at IEX
The Dollar Business Bureau State-run NTPC, for the first time ever, traded Un-Requisitioned Surplus (URS) power from its four thermal stations, namely Unchahar, Vidhyanchal, Rihand and Dadri at Indian Energy Exchange. NTPC, the Maharatna public sector undertaking, traded the surplus power, stated IEX. The prominent power generating stations always work a day-ahead of the schedule. Generally, the stations offering cheap power are booked completely by the states. If a situation arises where the states are unwilling to utilize the power, then the power remains Un-Requisitioned, unsold, IEX added. To enable utilization of unsold power, the power ministry, amended the National Tariff Policy and introduced some provisions allowing the prominent power generating companies to trade their surplus power. Other power generating firms like Neyveli Lignite, NHPC ...
