Power & Energy News Monthly Archive February 2017

FEB 28 2017

Coal India units agree to buy back shares, but ratchet up valuations

  • Soumonty Kanungo, Live Mint / Kolkata, 28th February 2017 Published on : 28th February 2017
  • Created:Tue 28th FEB 2017

After Northern Coalfields Ltd, the board of South Eastern Coalfields Ltd on Monday agreed to pay Rs1,200 crore to Coal India Ltd by way of a buyback of shares, but both the wholly owned ...

FEB 28 2017

ABB India posts biggest growth in orders in years

  • TNN, ETEnergyWorld / New Delhi, 28th February 2017 Published on : 28th February 2017
  • Created:Tue 28th FEB 2017

The Indian arm of Swiss power and automation group ABB posted biggest growth in orders in recent years with orders worth Rs 12,466 crore in 2016. In quarter ending December 2016, the company ...

FEB 28 2017

Wind power sector likely to move entirely towards auction-based allocation: Bridge to India

  • Debapriya Mondal, ETEnergyWorld / New Delhi, 28th February 2017 Published on : 28th February 2017
  • Created:Tue 28th FEB 2017

Following the record-breaking success of the recent 1,000 Megwatt wind power auction, the sector is likely to shift entirely towards auction-based allocation route but this transition may lead to ...

FEB 28 2017

KERC mulls surcharge for those opting out of grid power

  • TNN, ETEnergyWorld / Mangaluru, 28th February 2017 Published on : 28th February 2017
  • Created:Tue 28th FEB 2017

A move by major stakeholders to shift from grid to captive and or green energy could come at a cost. Seized about anomalies this move could cause in terms of cross subsidy offered to domestic ...

FEB 28 2017

Goyal echoes Modi, says Akhilesh govt discriminated in power supply to communities

  • Our Bureau, The Hindu Business Line / New Delhi, 28th February 2017 Published on : 28th February 2017
  • Created:Tue 28th FEB 2017

Echoing Prime Minister Narendra Modi’s controversial comments earlier this month, Power Minister Piyush Goyal told a television channel that the Akhilesh Yadav government had discriminated ...

FEB 28 2017

Govt to bring new hydro policy next fiscal: Power Secretary P K Pujari

  • PTI, ETEnergyWorld / New Delhi, 28th February 2017 Published on : 28th February 2017
  • Created:Tue 28th FEB 2017

The government will bring out a new policy for the hydro power sector next fiscal to boost this clean source of energy, a senior official said today. "We are working on a New Hydro Policy ...

FEB 28 2017

Demonetisation to dampen short-term economic growth: CLP India

  • Debapriya Mondal, ETEnergyWorld / New Delhi, 28th February 2017 Published on : 28th February 2017
  • Created:Tue 28th FEB 2017

The government’s demonetisation move is seen dampening short-term economic growth in the country, CLP India, the country’s largest foreign investor in power sector, said ...

FEB 28 2017

GMR Chhattisgarh Energy allots majority shares to lenders via SDR scheme

  • FE Bureau, The Financial Express / 28th February 2017 Published on : 28th February 2017
  • Created:Tue 28th FEB 2017

GMR Chhattisgarh Energy (GCEL), a subsidiary of GMR Infrastructure (GIL), on Monday said that the consortium of lenders has converted debt to equity under the strategic debt restructuring (SDR) ...

FEB 28 2017

CERC determines the floor price and forbearance price for Solar and Non-Solar REC with effect from 1st April, 2017

  • http://www.cercind.gov.in/2017/orders/27.02.2017(R3)_1.pdf
  • Created:Tue 28th FEB 2017

  In so far as non-solar REC prices are concerned, this was based on Generic Tariff for non-solar RE Technologies for FY 2011-12. In order to give long term ...

FEB 28 2017

MNRE notified the Draft Guidelines for Tariff Based Competitive Bidding Process for Procurement of Power from Grid- connected Solar PV Power Projects

  • http://mnre.gov.in/file-manager/UserFiles/Draft-SBG-for-Solar-PV-Power-projects-for-Comments.pdf
  • Created:Tue 28th FEB 2017

  MNRE (Ministry of New and Renewable Energy) notified the Draft Guidelines for “Tariff Based Competitive Bidding Process for Procurement of Power from Grid- ...

FEB 27 2017

ONGC set to create energy giant with control of Hindustan Petroleum

  • Aman Sharma, ETEnergyWorld / New Delhi, 27th February 2017 Published on : 24th February 2017
  • Created:Mon 27th FEB 2017

Oil and Natural Gas Corporation (ONGC) will take control of Hindustan Petroleum Corp (HPCL) as part of the government’s plan to create an integrated public sector oil entity comparable with ...

FEB 27 2017

LIC booked profit in SBI, GAIL, bought DRL & others, when you were lining up at ATMs

  • Amit Mudgill, ETEnergyWorld / New Delhi, 27th February 2017 Published on : 24th February 2017
  • Created:Mon 27th FEB 2017

Life Insurance Corporation of India (LIC), which holds roughly 5 per cent stake worth $66 billion in the BSE200 companies, was seen booking profits in state-run GAIL, SBI, HPCL, IOC and ...

FEB 27 2017

Refiners may start BS VI fuel sale ahead of deadline

  • Gireesh Chandra Prasad, Live Mint / New Delhi, 27th February 2017 Published on : 24th February 2017
  • Created:Mon 27th FEB 2017

Oil refineries have less time than earlier expected for shifting to BS VI grade fuel. The oil ministry and state-owned refiners have agreed to start marketing BS VI grade fuel from ...

FEB 27 2017

Essar, IDFC Alternatives reach settlement, paving the way for Rosneft deal

  • Deborshi Chaki, Live Mint / Mumbai, 27th February 2017 Published on : 24th February 2017
  • Created:Mon 27th FEB 2017

The Essar Group has reached a settlement with private equity fund IDFC Alternatives, ending arbitration proceedings that threatened to block the proposed sale of Essar Power’s Vadinar plant ...

FEB 27 2017

Oil companies to bear merchant discount rate fees on debit card payments for fuel

  • Kalpana Pathak, Live Mint / Mumbai, 27th February 2017 Published on : 24th February 2017
  • Created:Mon 27th FEB 2017

The mess over merchant discount rate (MDR) at fuel stations is close to resolution. State-owned fuel retailers Indian Oil Corp. Ltd, Bharat Petroleum Corp. Ltd and Hindustan Petroleum ...

FEB 27 2017

Keen to close KG Basin deal with GSPC by fiscal end: ONGC

  • Richa Mishra, The Hindu Business Line / New Delhi, 27th February 2017 Published on : 24th February 2017
  • Created:Mon 27th FEB 2017

ONGC wants to close the Krishna-Godavari Basin gas block deal with Gujarat State Petroleum Corporation Ltd (GSPC) by the end of this fiscal. At the end of 2016, ONGC and GSPC had announced ...

FEB 27 2017

IOCLs Mathura-Jalandhar pipeline repaired and put back in service

  • Our Bureau, The Hindu Business Line / New Delhi, 27th February 2017 Published on : 24th February 2017
  • Created:Mon 27th FEB 2017

Indian Oil Corporation has repaired and restored the Mathura-Delhi section of its Mathura-Jalandhar pipeline, where an instance of illegal tapping was detected on February 17, ...

FEB 27 2017

Odisha not to extend tax sops to IOCs Paradip refinery

  • Our Bureau, The Hindu Business Line / New Delhi, 27th February 2017 Published on : 24th February 2017
  • Created:Mon 27th FEB 2017

New Delhi, February 26The Odisha government has decided not to extend tax breaks to the Paradip refinery of public sector Indian Oil. Officials aware of the development told BusinessLine that the ...

FEB 27 2017

Coal India to hire 4,800 B-school graduates in five years to cement leadership

  • Debjoy Sengupta, ETEnergyWorld / Kolkata, 27th February 2017 Published on : 24th February 2017
  • Created:Mon 27th FEB 2017

Coal India (CIL), the monopoly producer of the fuel in India, will hire about 4,800 business graduates over the next five years as it seeks to cement its global leadership status while scouting ...

FEB 27 2017

CCI rejects complaint against Great Eastern Energy Corp

  • PTI, ETEnergyWorld / New Delhi, 27th February 2017 Published on : 24th February 2017
  • Created:Mon 27th FEB 2017

The Competition Commission has dismissed allegations of unfair business practices made against Great Eastern Energy Corporation Ltd (GEECL) with regard to supply of coal bed methane ...