Two ultra mega power projects are coming up at Sasan in Madhya Pradesh and Krishnapatnam in Andhra Pradesh.
Reliance Power (R-Power), the Reliance-ADAG group company, which plans to set up 28,000 mw of power plants in India, has secured $1 billion (or around Rs 4,200 crore) funding from three Chinese banks for the Sasan ultra mega power project (UMPP) in Madhya Pradesh.
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.
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.
Indian cricketer Ravindra Jadeja was let off by the Gujarat forest department on Tuesday after he paid a fine of Rs. 20,000 for taking a selfie with lions at the Gir Wildlife Sanctuary at Sasan in Junagadh, an act strictly prohibited by law. Since Jadeja is out of the country, his father-in-law Hardevsinh Solanki, a resident of Rajkot, gave the statement on behalf of Jadeja and paid the fine recently, Chief Conservator of Forests (CCF), Junagadh, A P Singh said. The inquiry report is yet to be sent to authorities.
But company says govt decision to permit use of incremental coal does not result in any loss to exchequer or undue benefit.
Gujarat Chief Minister Narendra Modi on Friday visited two villages in Junagadh district which were among the affected in Thursday night's earthquake.
Union Environment Minister Jairam Ramesh on Thursday pressed Gujarat to part with some of its lions, saying they should be translocated and have a second home in Madhya Pradesh. The minister, who visited Sasan Gir Sanctuary in Junagadh district, the only abode of Asiatic lions, said he is hopeful that the Narendra Modi government will agree to the proposal of having a second home for Gujarat lions in MP. The Gujarat government has already rejected the proposal.
The joint statement from Friends of the Earth, Pacific Environment, Oil Change International and Groundwork on Tuesday precedes the Exim Bank Board meeting, scheduled on Wednesday where it would formally reverse its' last month decision to reject the financing of Reliance's Sasan power project on environmental grounds.
Anil Ambani-led Reliance companies have bagged three awards including the Asia-Pacific Project Sponsor of the Year, announced by Project Finance Magazine of Euromoney Publications on Monday.
In an affidavit filed before the apex court, the government said that the petition challenging the use of coal for projects other than 4,000-MW Sasan Ultra-Mega Power Project was filed on a totally false basis and 'gives a totally misleading and erroneous impression'.
After rejecting a request for financing the 4,000 MW ultra mega power project in Sasan, Madhya Pradesh, last Thursday, the Exim Bank reversed its decision on Monday after a conversation its chief Fred P Hochberg had with Anil Dhirubhai Ambani Group chairman Anil Ambani.
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.
Reliance-Anil Dhirubhai Ambani Group is looking for acquisitions to start its cement business much before it completes its 4,000-Mw mega power project at Sasan in eastern Madhya Pradesh, which is to provide the fly ash that is used to make cement.
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.
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.
ADAG group company Reliance Energy Ltd is the second-lowest bidder for the Rs 16,000 crore (Rs 160 billion) project, after Lanco. However, with the Lanco bid becoming invalid, REL could claim to be the lowest bidder.
Tata Power Company Ltd has signed a development agreement with Germany's Siemens Project Ventures GmbH to jointly bid for ultra mega power projects.
Follow Anil Ambani group and Lanco for asset valuation.
The Anil Ambani group firm is the sole bidder for the engineering, procurement and construction contract for DVC's proposed 1,000 MW thermal power plant at Raghunathpur in Purulia district of West Bengal.
Solar power is expensive. The cost of generating one unit of solar power is Rs 15 while it costs just Rs 1.19 per unit from coal (at Sasan ultra mega power plant). The Centre, in partnership with state governments, will give incentives worth up to Rs 12 per unit for generating power from solar energy.
Two tremors rocked Saurashtra, Ahmedabad and Surat in Gujarat. The epicentre was in the Sasan area of Talala taluka of Junagadh district.
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.
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.
CFO of Lanco Group, Suresh Kumar explains how interest rate hikes would affect their project.
The biggest lesson is in creating bankable projects with the government getting major clearances, leaving private firms to deliver on what they do best.
Corporate giants Reliance Energy, Tata Power and Essar are among the 11 companies left in the fray for the two 4,000 MW power projects to be set in Gujarat and Madhya Pradesh at an investment of Rs 20,000 crore (Rs 200 billion) each.
In addition to Pichai and Nadella, IBM's Arvind Krishna, Micron's Sanjay Mehrotra, Ajay Banga from Mastercard and Ann Mukherjee from Pernod are among the six Indian-Americans among over 200 corporate honchos who will advise the President and offer recommendations on how to revive the American economy.
UMPP is coal-based thermal power project that has 4,000 MW capacity.
Ace Indian cueist Pankaj Advani blanked Sasan Lashkari 3-0 to enter the pre-quarterfinals of the 150-Up format in the IBSF World Billiards Championship, in Bengaluru on Saturday.
With their balance sheets under stress, private companies have lost interest in them.
The projects coming up in Bihar, Jharkhand and Odisha will together add 16,000 MW capacity to country's power generation.
The Congress won three seats, Shiv Sena won two, while the Nationalist Congress Party, Bharatiya Janata Party and an Independent bagged one seat each.
More asset sales may be only way out, though most of the group companies' ratings have been downgraded and their combined market value is now a fraction of their combined debt.
However, the IT firms will get some benefits, as software exports from their Chinese campuses will yield more in local currency
Reliance Power is yet to get a new CEO after J P Chalasani quit as managing director and chief executive officer.
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