The Exim Bank of the US denied loan guarantees to Reliance's coal-fired power plant and a mine in India last week, citing adverse environmental impact as the reason.
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.
The company wants 'economic restitution' due to rupee depreciation and changes in law.
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 Hyderabad-based company was last week disqualified by an Empowered Group of Ministers, headed by Power Minister Sushilkumar Shinde.
Power Finance Corp official overseeing project eased out.
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.
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.
State-owned Power Finance Corporation on Tuesday announced its maiden public offer of 10 per cent fresh equity shares along with sale of five per cent government equity in the first quarter of next fiscal
Six weeks after Lanco Infratech and Globeleq won the Rs 16,000-crore (Rs 160 billion) Sasan ultra mega power project, the Hyderabad-based company is planning to buy out its 70 per cent foreign partner.
The government on Friday said that some of the coal blocks lying in the "no-go" areas, which could not be used for mining, may be shifted to the go-areas, a move to expedite clearance for ultra mega power projects.
The fate of the 4,000 Mw Sasan ultra mega power project seems uncertain with the entire bidding process being questioned.
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 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.
Reliance Power is yet to get a new CEO after J P Chalasani quit as managing director and chief executive officer.
In the next three years, Tata Power will invest anywhere between $150-200 million.
Five states -- Maharashtra, Haryana, Rajasthan, Punjab and Gujarat -- face a massive power crisis.
The Narendra Modi-led National Democratic Alliance government has given environment clearance to five projects since it took charge on May 26.
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.
Will get Rs 830 cr, Rs 329 cr respectively to offset higher coal costs
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.
At the stroke of midnight, live dashboards lit up simultaneously across Amazon India's World Trade Centre headquarters and Flipkart's Outer Ring Road office in Bengaluru. In sprawling "war rooms" at both the companies, executives monitored real-time data streams tracking payment speeds, inventory levels, and delivery logistics as millions of shoppers flooded online platforms.
At Rs 1.196 per unit, power tariff reaches new bottom.
Reliance Energy Ltd plans to invest Rs 60,000 crore (Rs 600 billion) over the next five years to add 15,000 MW of power generation capacity, company chairman Anil Ambani said in Mumbai on Tuesday.
The Central Electricity Regulatory Commission (CERC) has said the first 660-Mw unit of Reliance Power's 3,960-Mw Sasan ultra mega power project (UMPP) could not achieve its "full load" in March 2013 and rejected the company's plea to appoint an independent technical committee to look into the readiness of that unit.
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.
Asia's biggest solar power plant having the capacity to generate 130 mw was already functioning in MP's Neemuch district
R-Power had produced the test certificate claiming March 30, 2013, as the date of commissioning.
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)
Clean energy cess to hike cost for power sector.
Indian manufacturers are concerned about losing market share to Chinese makers.
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.
The mass cancellation of coal blocks by the Supreme Court has sent banks in a jittery mode as they have extended over Rs 1 lakh crore loans to power plants that were fed by these mines.
Finance Minister Arun Jaitley announced slew of reforms for the masses.
Coal India would open 60 new mines soon, the minister said.
Despite high exposure of public sector banks to power, iron and steel sectors, analysts remain in a wait-and-watch mode.
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".
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