Indiabulls Power, which is developing over 6,650 Mw from five thermal power projects by 2013, is planning to also bid for ultra mega power projects (UMPPs), besides foraying into renewable energy to grow as a major electricity producer. The company will bid for some of the coming UMPPs, after evaluating dedicated availability of coal and the market conditions, said Ranjit Gupta, chief executive officer, and Murali Subramanian, chief operating officer.
The government may revive a proposal limiting the number of Ultra Mega Power Projects awarded per developer.
Tata Power Company, India's largest private power utility, has announced that it would not bid for imported coal-based Ultra Mega Power Projects in future, until the overall policy environment becomes favourable. The company plans to increase its installed power generation capacity to 8,000 Mw by 2012 and 12,000 Mw by 2014 from the current 2,700 Mw.
UMPP is coal-based thermal power project that has 4,000 MW capacity.
Mukesh Ambani's Reliance Industries Ltd may be one of the biggest producers of natural gas in the country, but its power foray is likely to be coal or renewable energy based. The company is planning to not only bid for ultra mega power projects but also go in for acquisition of the power plants, said industry sources.
The company wants 'economic restitution' due to rupee depreciation and changes in law.
With no sign of the global liquidity crunch abating, the government is planning to ease the lending norms for banks and financial institutions so that they can provide funds for the ambitious ultra mega power projects.
The projects coming up in Bihar, Jharkhand and Odisha will together add 16,000 MW capacity to country's power generation.
With their balance sheets under stress, private companies have lost interest in them.
But company says govt decision to permit use of incremental coal does not result in any loss to exchequer or undue benefit.
Two ultra mega power projects are coming up at Sasan in Madhya Pradesh and Krishnapatnam in Andhra Pradesh.
The government has so far awarded four UMPPs to successful developers. One such project is being developed by Tata Power at Mundra in Gujarat while three others -- Sasan in Madhya Pradesh, Krishnapatnam in Andhra Pradesh and Tilaiya in Jharkhand have been bagged by Reliance Power.
The company had raised a similar amount of debt in FY 09 as well. Reliance Power has bagged three of four contracts for developing UMPPs in the country.
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."
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.
The 4,000 MW Krishnapatnam ultra mega power project in Andhra Pradesh seems to be stuck, thanks to the state government's inability in resolving and expediting issues related to the project.
In a major jolt to India's solar energy programme, the Rajasthan government might cancel the 4,000-Mw solar UMPP (ultra mega power project), which was expected to come up near Sambhar Lake.
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)
R-Power had produced the test certificate claiming March 30, 2013, as the date of commissioning.
Niira Radia had said friends in high places enabled favourable EGoM decision on Sasan coal diversion, a charge staunchly denied by Reliance Power.
Ambani said, in the telecom space, the focus will be on debt reduction, and the virtual merger did away with the need for major capex and will help towards this
Union Budget 2012-13 has been a great disappointment for the Power Plant Equipment makers who were drumming up for imposition of import duty of 14%-19% on mega/UMPP projects, which currently allows concession duty imports.
If required, the power ministry would challenge the Jairam Ramesh-led Environment Ministry, sources in the know said.
Supreme Court says guidelines were breached, no criteria were followed while allocating the blocks.
The Supreme Court on Monday held that all coal block allocations made since 1993 till 2010 before pre-auction era during previous National Democratic Alliance and United Progressive Alliance regimes have been done in an illegal manner by an "ad-hoc and casual" approach "without application of mind".
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.
Anil Ambani-promoted Reliance Power (R-Power) has signed a supplementary power purchase agreement (PPA) with fourteen buyers from seven states for its upcoming 4,000-MW ultra mega power project (UMPP) in Sasan.
Coal ministry says Sasan coal cannot be used for other plant.
Tata Power Company has moved the Delhi high court challenging the government's decision to allow Anil Ambani-led Reliance Power to divert coal from the captive mines of Sasan Ultra Mega Power Project for use in other projects.
Amid concerns expressed by short-listed bidders over the ongoing financial crisis, the bids for the 4,000-Mw Tilaiya Ultra Mega Power Project in Jharkhand will be opened on December 29. "The bidding will take place as announced," said Power Secretary Anil Razdan.
Anil Ambani-promoted Reliance Power (R-Power) has roped in international consultancy firm Ernst & Young (E&Y) to upgrade its Sasan ultra-mega power project (UMPP) in Madhya Pradesh to conform to the norms for receiving carbon credits.
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.
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-promoted Reliance Power is likely to announce the financial closure of its 3,960-Mw Sasan ultra mega power project (UMPP) in a few weeks.
Tata Power Company Ltd has signed a development agreement with Germany's Siemens Project Ventures GmbH to jointly bid for ultra mega power projects.
Tata Power bagged the Rs 20,000 crore (Rs 200 billion) project in Mundra last year by offering to supply electricity at the lowest rate of Rs 2.26 per unit by burning imported coal.
The biggest lesson is in creating bankable projects with the government getting major clearances, leaving private firms to deliver on what they do best.
Budget in the medium term aims to kick-start the investment cycle.
From Kudankulam to the Land Bill, the author takes the Twitter route to capture the infra action of 2013.
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