Corporate India is embarking on an ambitious investment drive, with capital expenditure (capex) expected to double to $850 billion over the next five years, according to a report by S&P Global Ratings. Indian power & transmission, airlines, and green hydrogen sectors would spearhead the spending, the report said.
As India's electricity demand soars, the power ministry on Tuesday reviewed the power supply situation to ensure 'zero load shedding' during the summer months. The ministry has drafted plans ranging from delaying planned maintenance of thermal power stations to mandatory operations of imported coal-based and gas-based stations till September. In a series of meetings with industry stakeholders, Union Minister for Power, New, and Renewable Energy R K Singh emphasised the importance of adequate planning to avoid situations where one state has surplus power while another state faces shortages.
At around 3 pm on Wednesday, India's daily peak power demand touched 220 gigawatts (Gw)-the highest daily peak ever in the history of the country. The ministry of power in its estimates had projected country's power demand to cross touch 220 Gw during the months of April-June. With a cooler April due to unseasonal rains, the peak shifted to May.
Growth in power demand remains in negative though it is picking up as coronavirus-related restrictions are eased.
At the same time, the Cabinet approved reducing government's stake in select PSUs such as IOC to below 51 per cent while continuing to retain management control.
NTPC raises new demands, while CIL is not willing to yield
Dabhol has faced a series of catastrophic equipment failure and is currently battling thinning gas availability.
The massive electricity grid failure earlier this week, that left a majority of India in darkness, has impacted the volumes of power generation companies. The worst power black-out in the world hit their revenues by an estimated Rs 550 crore (Rs 5.5 billion) in two days.
Nabinagar Power Generation Company Ltd is a joint venture of NTPC Ltd and Bihar State Electricity Board for this project.
French auction was tried for two issues - NTPC Ltd and Rural Electrification Corporation - in 2009-10.
PSU, other govt bodies told to explain delay on developing the concessions for years.
The five companies which topped the list are Reliance Industries Ltd, Oil and Natural Gas Corporation, Indian Oil Corporation, NTPC Ltd and Bharat Petroleum Corporation
With the government making a distinction between the privately-run Reliance Natural Resources Ltd and the government-run NTPC Ltd in relation with the gas dispute with Reliance Industries Ltd, the ministry of power is likely to take up NTPC's case with the Empowered Group of Ministers.
Essar Power and GMR are among the global bidders for a 450-Mw dual fuel power project planned by the Bangladesh government at Sirajgonj, about 140 km from Dhaka.
After the government scaled up the power capacity addition target in the current Plan period multi-fold, NTPC embarked upon a major diversification drive in the entire energy chain.
Four companies, including India's largest private sector electricity generator Tata Power and infrastructure major Larsen & Toubro Ltd, chose not to bid for the Rs 16,000-crore ultra mega power project (UMPP) in Tilaiya in Jharkhand even as Reliance Power, Lanco Infratech and NTPC Ltd, the country's largest power producer, submitted their technical bids.
Coal-based generators plan upgrades, clean tech over 5 years.
State power utility NTPC Ltd will not lose any money even if it was to get natural gas at prices higher than those committed by Reliance Industries five years ago, the Power Ministry has told the committee on public undertakings.
"All requirements including providing bank guarantee have been met by NTPC and gas flow can start as early as tomorrow," an official said.
The quantities and price of $4.2 per mmBtu for gas under the GSPAs signed for five years are as approved by the government.
State-run NTPC Ltd is likely to sign by month-end an agreement to buy natural gas allocated by the Centre from Mukesh Ambani-run Reliance Industries Ltd at government-approved rate of $4.20 per mmBtu, power secretary H S Brahma said on Wednesday.
The state-run power utility NTPC Ltd has signed an agreement to buy gas from GAIL India for 10 years at a delivered price of close to $8 per million British thermal unit.
GAMES-TOURISM Tourism industry asked to cash on C'Wealth Games New Delhi, Aug 19 (PTI) With over one lakh foreigners expected to throng the city during Commonwealth Games, tourism industry must gear up to reap the benefits, Tourism Minister Kumari Selja said today.
RIL is also fighting a case with Reliance Natural Resources Ltd in the Supreme Court on supply of 28 mmsmcd at the NTPC price to the Anil Ambani-owned company. Though Subramanium has said this case has no bearing on NTPC, the ministry of petroleum and natural gas' plea in the Supreme Court may have implications on price and utilisation of gas sales from RIL's D6 block in the Krishna-Godavari basin.
NTPC Ltd on Thursday said it was taking legal opinion on the impact of a court battle between Ambani brothers group firms over gas supply and a related government petition on its ongoing case with Mukesh Ambani-led RIL.
Of the 17.99 mmcmd gas allocated to the power sector, gas supply pacts of only 2.67 mmcmd allocated to NTPC remained to be signed. NTPC's opposition has also delayed the GSPA for a separate 2.7 mmcmd allocated to the Dabhol power plant and the same is now slated to be signed next week.
Reliance Industries has inked deals to supply gas from its eastern offshore KG-D6 fields to most power sector consumers, including Essar Power and an Anil Ambani Group firm.
Have you heard of an electronic exchange to trade electricity? Soon, online power exchanges will be a reality in India.
In a major relief to Mukesh Ambani-led Reliance Industries Ltd, the Bombay High Court Friday allowed the sale of gas from the Krishna-Godavari basin at $4.20 per million British thermal unit (mBtu) and reserved final judgment on a case brought by Anil Ambani-run Reliance Natural Resources Ltd.
The Tilaiya project is a part of the government's showcase UMPP scheme under which a power generation capacity of around 50,000 Mw is planned to be created through 13 of such mega projects, which will come up mostly in the Twelfth Plan period.
After Moily took over as oil minister, the central government agreed to link prices with global indices.
Sasan Power Ltd, the special purpose vehicle floated by Power Finance Corporation for the 4,000 MW project, will on Wednesday issue the Letter of Intent to Reliance Power Ltd.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
NTPC Ltd and GAIL India Ltd may have to pump in more money into the Dabhol power plant after an official panel monitoring the progress of the beleaguered project decided to limit lenders' commitment to Rs 455 crore (Rs 4.55 billion).
India's largest power generation company National Thermal Power Corporation on Tuesday embarked upon a major overseas fund raising exercise and decided to establish medium term note programme of $1 billion.
NTPC Ltd, the country's biggest electricity generating utility, on Wednesday, signed a pact with Assam government to set up a 750 MW coal-fired plant in the state at an estimated cost of Rs 3,750 crore (Rs 37.50bn).
The company is also calling back former employees who may want to rejoin the Navratna.
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