India

India

Adani Power Q2 profit nosedives to Rs 4 crore

November 14, 2019 Anand Gupta

ADL’s total expenses during the quarter were Rs 6,658.44 crore, compared with Rs 6,955.35 in the year-ago period New Delhi: Adani Power (APL) on Wednesday said its consolidated net profit nosedived to Rs 3.88 crore in the quarter ended September 30, mainly due to a fall in revenue from operations. It had clocked a net […]

India

Sitharaman directs NABARD to help J&K, Ladakh increase farm produce, utilise solar energy

November 14, 2019 Anand Gupta

While stressing on the need to exploit solar energy in the high altitude deserts of Ladakh, Finance Minister Nirmala Sitharaman said: “I have requested Chairman of NABARD to visit Jammu and Kashmir so that NABARD can support the farmers there.” Union Finance Minister Nirmala Sitharaman Tuesday directed the National Bank for Agriculture and Rural Development […]

India

Return to growth: Given the mismatch between tariffs and risks, few new renewable IPPs being created

November 14, 2019 Anand Gupta

Power tariffs had declined significantly in 2016-17, ensuring price competitiveness. However, since then, RE sector risks have increased. Chhatrasal in a remarked that ‘The renewables sector in India is near-death. Capacity addition has markedly slowed down in this financial year. Few projects are achieving financial closure, and so, few projects are getting complete.’ (bit.ly/34I1JQr, FE, […]

India

Hero Future files petition against Andhra discoms

November 14, 2019 Anand Gupta

Hero Future Energies has filed a contempt petition with the Andhra Pradesh electricity regulator for recovery of dues from the state’s discoms BENGALURU: In the continuing face-off between the Andhra Pradesh government and renewable energy developers, Hero Future Energies has filed a contempt petition with the Andhra Pradesh electricity power regulator for recovery of dues […]

India

IEA sees India’s oil demand doubling, import dependence rising to 90% by 2040

November 14, 2019 Anand Gupta

NEW DELHI: India’s oil demand will double to more than 9 million barrels a day, marking largest absolute consumption growth for any country, and its dependence on imports will rise to 90% by 2040, according to the International Energy Agency’s latest World Energy Outlook. This means the Indian economy will continue to depend in the […]

India

Domestic consumers can clear power dues in instalments

November 13, 2019 Anand Gupta

BAREILLY/MEERUT : Domestic power consumers can now pay pending electricity bills in easy instalments in 12 and 24 months depending on whether they live in urban or rural areas. Under the scheme, launched on Monday by Uttar Pradesh Power Corporation Limited (UPPCL), domestic power consumers in urban areas with a load up to 4kw will […]

India

Tata Power to develop 50MW at Dholera Solar Park in Gujarat

November 13, 2019 Anand Gupta

The energy will be supplied to GUVNL under a Power Purchase Agreements Tata Power has announced that Tata Power Renewable Energy (TPREL), the company’s wholly owned subsidiary, has received a Letter of Award from Gujarat Urja Vikas Nigam (GUVNL) to develop a 50MW solar project in Dholera Solar Park in Gujarat. This LOA is in […]

India

Andhra Pradesh contests HC order prohibiting revision of PPAs

November 13, 2019 Anand Gupta

NEW DELHI : The Andhra Pradesh government has challenged an order passed by a single-judge bench of the state high court restraining the government from renegotiating or revising power purchase agreements (PPA) signed with renewable energy companies, saying the court order is “bad in law and contrary to the facts on record”. In an appeal […]

India

Why net billing systems will kill Maharashtra’s rooftop solar market

November 13, 2019 Anand Gupta

Companies in the rooftop solar power segment are protesting draft regulations recommending this switch So far, actual rooftop solar installations across the country stand at just above 4GW Mumbai : The Maharashtra government’s proposal to switch from net metering to net billing for commercial and industrial rooftop solar power projects is likely to sound the […]

India

Tata Power reports 30% yoy increase in Q2 PAT; stock down ~4%

November 12, 2019 Anand Gupta

The company’s Standalone PAT stood at Rs155cr vs. Rs265cr in the corresponding period last year mainly due to favourable tariff order in Mumbai License area in previous year. Tata Power announced its Q2FY20 results on Friday. The stock is trading with a negative bias today and is down ~4%. Tata Power’s consolidated PAT for Q2FY20 […]