Sitharaman also announced a distribution reforms scheme for the next five years. “The viability of distribution companies is a serious concern. A revamped, reform-based, results-linked, power distribution sector scheme will be launched with an outlay of Rs 3,05,982 crore over five years."
After a gap of six months, power consumption recorded a year-on-year growth of 4.5 per cent in September and 11.6 per cent in October.
Tata Power said as per conditions of bid documentation it will hold 51 per cent equity with management control and the state-owned GRIDCO will have the remaining 49 percent equity stake in the company.
The Goldman Sachs Group-backed company has already held preliminary discussions with some blank cheque financiers, also known as special purpose acquisition companies (SPACs), such as RMG Acquisition Corp II and Peridot Acquisition Corp, people aware of the development told ET.
Petrol and diesel are not the only sources of energy for which consumers are paying through their nose because of high taxes and different tax regimes on input and final products.
These states are likely to be the first to get the money released under the second tranche of the Atmanirbhar Bharat scheme.
The loss reduction targets would be set state-wise and money will be disbursed gradually when they are achieved. While the prepaid smart metering would help reduce losses, an omnibus infrastructure component would allow states to choose their area of focus for distribution reforms.
"Conducted an oil industry meet at Haldia ahead of PM@narendramodi ji's visit where he will dedicate to the nation oil, gas & road projects worth Rs 4742 cr. I invited family members of our oil industry to be a part of this momentous occason in the developmental journey of Bengal," the Union Petroleum and Natural Gas minister tweeted.
"Power demand galloping. All India demand: 1,89,644 MW (189.64 GW) at 10.39 hrs today (January 30) crossed the previous highest all India demand of 1,88,452 MW (188.45 GW) on 28th January," Sahai has tweeted.
For a government struggling to find revenue to boost a COVID-19 battered economy, options of appeal against the arbitration award are limited and it may not have the financial bandwidth for such a payout.
In September 2019, Power Minister R K Singh had said that the Ministry of Power was working on UDAY 2.0 scheme. There were expectations that the scheme would be announced in the General Budget for 2020-21.
Every morning, Tsering Angmo leaves her two-year-old son with neighbours and commutes 20 km through a frozen landscape from her home in Choglamsar, a settlement near Leh, to work at Ladakh’s only LPG bottling plant near Leh.
"EESL...signed agreements with South Bihar Power Distribution Company Ltd (SBPDCL) and North Bihar Power Distribution Company Ltd (NBPDCL) for the installation of 2.34 million smart prepaid meters in Bihar, under its Smart Meter National Programme," it said.
Gujarat cadre bureaucrat Pradeep Kumar Pujari, former power secretary, was appointed to head CERC for three years till January 31. Jha took over as member CERC in January 2019 and Goyal was appointed on April 7 this year.
The firm bagged a "transmission system strengthening scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW) under phase II - Part A" on build, own operate and maintain basis.
India's T&D losses have been over 20 per cent of generation, which is more than twice the world average. The ideal level of T&D losses ranges between six to eight per cent.
The survey, tabled in Parliament by finance minister Nirmala Sitharaman on Friday, showed that about 60% of the nearly 7,000-mw added in the financial year was by Central PSUs and the remaining by state generation companies.
The rising power demand shows revival in economic activities leading to higher commercial and industrial demand, which was affected due to the pandemic.
The gas, produced from Raniganj east CBM block in West Bengal, has been supplied to Bengal Gas Companys (BGCL) Compressed Natural Gas (CNG) station in the city, EOGEPL said in a statement.
The last date to submit the EoI is March 30, 2021. The bids would be opened on March 31, 2021. The tender was issued on January 28, 2021. The last date for seeking clarification is March 20, 2021
The order is under the FAME-II scheme (Faster Adoption and Manufacturing of Electric Vehicles) for supply of 350 electric buses on Gross Cost Contract (GCC) / OPEX model basis for a period of 12 years, it said in a press release.
The refinery will be set up on the 618-acre land already owned by Chennai Petroleum Corp (CPCL) in Nagapattinam, Indian Oil Chairman S M Vaidya said. The refinery will be developed by a joint venture in which Indian Oil and CPCL will own 25% equity each while the balance 50% stake will be given away to strategic and financial investors, Indian Oil finance chief Sandeep Gupta said.
Over the past few days, oil companies had gone on increasing local retail prices even as global crude prices continued to hover around $55 a barrel. For the record, petrol and diesel prices have increased 10 times in January.
Gehlot said that the basic excise duty paid by the government of India is part of the divisible pool paid to the states, which has been reduced continuously from Rs 9.48 to Rs 2.98 on petrol and Rs 11.33 to Rs 4.83 on diesel due to which all the states, including Rajasthan are losing huge revenue.
MUNPL is a joint venture of NTPC Ltd and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL). With this, the total commercial capacity of MUNPL and NTPC group will become 1,320 MW and 63,925 MW, respectively, the company added.
Used in factories, construction and agriculture as well as powering the truck and bus fleets, diesel is a bellwether of industrial activity in India and its tepid recovery reflects an economy still struggling to shake off the crippling effects of the pandemic. Gasoline demand, by contrast, is being buoyed by people opting to use private cars and motorcycles to avoid being exposed to Covid-19.
Addressing an interactive session with the CEOs of renewable energy and power companies organised by FICCI, Raut said the policy aims to implement 17,000 MW of renewable power projects in the next 5 years.
The report highlights the trends in the power sector, with a focus on capacity addition, generation, transmission, merchant power, deficit, regulatory changes and the recent rating actions by Ind-Ra.
With price on hold, petrol continues to be available at new record high of Rs 86.30 a litre in Delhi while diesel is available in the city at Rs 76.48 a litre.
The Green Strategic Partnership is a mutually beneficial arrangement to advance political cooperation, expand economic relations and green growth, create jobs and strengthen cooperation on addressing global challenges and opportunities; with focus on an ambitious implementation of the Paris Agreement and the UN Sustainable Development Goals, officials told ET.
India’s current investment in Russia stands at $15 billion in oil and gas projects and it is looking to expand its presence in the new oil project being developed by the Russian national oil company Rosneft in the Arctic, according to people aware of the matter.
This partnership will lead to an extensive exchange of knowledge and would be a stepping stone towards India becoming a full member of IEA, a power ministry statement said.
Govt plan to revive regional electricity retailers. The announcement is likely to be made on Feb. 1 as part of the government’s budget for the year starting April 1
"We hope that after this signing ceremony, the potential pathways to eventual membership will be closely looked into from both sides — New Delhi and member countries," Birol said while speaking at the signing of a strategic partnership between India and IEA.
The SECI III project has been successfully financed through a green limited recourse project term loan of USD 165 million provided by DBS Bank Ltd, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation (Singapore Branch).
Petrol and diesel prices were raised by 25 paise per litre each across the country on Wednesday, according to a price notification from oil marketing companies.
"Sterling and Wilson Solar Ltd...has successfully commissioned its second project in Oman. The 25 MW solar project was awarded to SWSL by global energy company Shell," the company said in a regulatory filing.
The nation's top gas marketing and transportation firm plans to monetise Dahej-Uran-Panvel-Dabhol pipeline and Dabhol-Bengaluru pipeline by setting up an Infrastructure Investment Trust (InvIT), two sources with direct knowledge of the matter said.
In 2019, ConocoPhillips had moved US courts to seize Venezuelan state oil company PDVSA's assets to collect USD 2 billion compensation it had won in an arbitration against Venezuela's 2007 takeover of its assets. PDVSA thereafter paid ConocoPhillips.
Petrol and diesel prices were hiked by 35 paise per litre each on Tuesday, according to a price notification from oil marketing companies.
French oil major Total SA’s $2.5 billion investment in Adani Green Energy last week is a sign that global companies increasingly under pressure to invest in environmental assets are eyeing India’s 1.3 billion energy users.
Electricity demand has risen in western and southern regions and, unlike in past years, not due to seasonal variations.
The power ministry has in a letter to Gupta recommended a two year extension in current deadline for 448 operational thermal generating units.
Currently, the state-owned company has a customer base of one lakh with over Rs 20 crore worth of monthly transactions under its current 'Smart Drive' programme, it added.
The company had reported a turnover of around Rs 3,500 crore in 2019-20, in which the power storage business (including inverter, batteries and solar) contributed around 85 per cent and the rest was from its home electrical business and exports.
According to industry estimates, as much as Rs 1.75 lakh crore investment is required to bid out 35GW of renewable energy capacity in the country. About 50 GW of clean energy is under implementation, while India has already installed over 90GW renewables, including 37GW of solar and 38GW of wind energy.
In the national capital, petrol was priced at Rs 85.70 per litre. In Mumbai, Chennai and Kolkata, petrol was sold at Rs 92.28, Rs 88.29 and Rs 87.11 per litre, respectively.
"CIL (Coal India) is well geared to meet any surge in demand for the dry fuel from the power sector especially on the back of close to 63 million tonnes stock at its pitheads," the PSU said in a statement.
Tata Power Solar, India's largest integrated solar company and a wholly-owned subsidiary of Tata Power, has received a "Letter of Award (LoA)" to build 320 MW of ground mounted Solar PV project for NTPC, a company statement said.
The hike took the petrol price in Delhi to Rs 85.70 per litre and in Mumbai to Rs 92.28. Diesel rate climbed to Rs 75.88 a litre in the national capital and to Rs 82.66 per litre in Mumbai, the price data showed. This is the second consecutive day of rate increase and the fourth this week. In all prices have gone up by Re 1 per litre this week.