The projects coming up in Bihar, Jharkhand and Odisha will together add 16,000 MW capacity to country's power generation.
State-run Power Finance Corporation on Thursday awarded the 4,000 MW Sasan and Mundra ultra mega power projects to the two successful bidders Lanco Infratech and Tata Power respectively.
The proposed Krishnapatnam ultra mega power project - the third 4,000 Mw project to go under the government's hammer - has attracted just three bids from Sterlite, Reliance Power and Larsen & Toubro, though there were nine qualified bidders for the project.Those who have not bid after expressing an interest include Essar Power, NTPC, Japan's Sumitomo Corporation, China Light and Power (with GMR) Israel Electric Company (with DS Construction) and Tata Power.
The biggest lesson is in creating bankable projects with the government getting major clearances, leaving private firms to deliver on what they do best.
Anil Ambani-led Reliance Power, which emerged as the lowest bidder for the 4,000 MW ultra mega power project at Krishnapatnam in Andhra Pradesh, will be awarded the contract in a few days, Power Minister Sushilkumar Shinde said on Tuesday.
With their balance sheets under stress, private companies have lost interest in them.
Anil Ambani-led Reliance Power, which emerged as the lowest bidder for the 4,000 MW ultra mega power project at Krishnapatnam, will be awarded the contract in a few days.
Delhi Metro, Yamuna-expressway and Tata Power's Mundra ultra mega power project in Gujarat are among the six ventures that have figured in the list of world's most innovative, impactful infrastructure projects prepared by international accounting firm KPMG.
Power Finance Corporation, the nodal agency for ultra mega power projects, has extended the last date for accepting bids for Krishnapatnam project to October 24, sources said. Essar Power, Sterlite Industries, Larsen and Toubro, D S Construction, Japan's Sumitomo Corp and CLP-GMR combine are other companies believed to be in the qualified bidders list.
Tata Power Company Ltd has signed a development agreement with Germany's Siemens Project Ventures GmbH to jointly bid for ultra mega power projects.
At Rs 1.196 per unit, power tariff reaches new bottom.
Tata Power, the country's largest private utility by sales, announced the acquisition of 30 per cent stake in two coal mining units and a related trading outfit of Indonesia's PT Bumi Resources for nearly Rs 4,740 crore ($1.1 billion).
Tata Power is evaluating opportunities to make another overseas acquisition of a coal mine. A senior company management executive said the company was planning to zero in on smaller mines. Prasad Menon, managing director, Tata Power, said: "We are evaluating various opportunities."
Tata Power Company, which is developing India's first 4,000 mw ultra mega power project in Mundra signed on Wednesday contracts reportedly worth $1 billion with Korea's Doosan Heavy Industries & Construction Company.
The World Bank will give a loan of $1 billion (about Rs 5,000 crore) to power transmission company PGCIL this year for developing infrastructure in the sector.
In the current financial year, TPC has planned capital expenditure of Rs 2,670 crore for their projects in Trombay, Haldia and in adding capacity to their wind power and digiset generating systems.
Five states -- Maharashtra, Haryana, Rajasthan, Punjab and Gujarat -- face a massive power crisis.
UMPP is coal-based thermal power project that has 4,000 MW capacity.
In the next three years, Tata Power will invest anywhere between $150-200 million.
The government is mulling a policy for developing hydro-power capacity, under which projects, possibly of 2,000-3,000 Mw each, would be drawn up and offered to private and public sector developers.
Will get Rs 830 cr, Rs 329 cr respectively to offset higher coal costs
The Narendra Modi-led National Democratic Alliance government has given environment clearance to five projects since it took charge on May 26.
The good news is that within the first 14 months, orders for manufacturing and commissioning of the entire 88,537 Mw capacity for the 12th Plan have been placed, according to the Central Electricity Authority, the country's apex power planning body.
Higher power tariff would have fetched Tata's Mundra UMPP Rs 25,000 crore (Rs 250 billion) and Adani's project an additional Rs 18,500 crore (Rs 185 billion)
Largest deal in thermal power space; Lanco to use proceeds to lower debt.
The earlier resolution allowing these developers to charge higher power tariffs, now stands cancelled.
In the capital goods space, Punj Lloyd and KEC International could be in limelight for the expected turnround
Corporates understand that the PMO drives all key decisions in this government.
Gujarat, the home state of Prime Minister Narendra Modi and portrayed as 'growth engine' of India has witnessed a steep fall in new investments for the second quarter of 2014-15 compared to the first quarter of the same fiscal.
Sensex in green in afternoon trade.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
Import curbs on Chinese panels and modules may help, but low demand and capacity remain problem areas, says Shreya Jai.
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