State-owned BHEL is planning to attract more business from the oil and gas, transportation, renewable energy and defence sectors. At the annual conference of the company, B Prasada Rao, Chairman and Managing Director, BHEL, said orders worth Rs 5,800 crore had been cancelled by the third quarter of 2011-12. Last fiscal, only projects totalling 4,000 [...]

The Asian Development Bank will provide a $100-million credit line to ICICI Bank to finance power projects, especially renewable energy and energy efficiency projects. According to ADB, the credit will be available to projects identified by the ADB and ICICI Bank. This is taking into consideration Indian Government objectives and overall impact assessment. The bank’s [...]

Shanghai Electric Corp (SEC) is planning to establish manufacturing plant in India. At the same time, the company is concerned about clarity of policies in the country. SEC has joined hands with France’s Alstom to float a 50:50 joint venture company in India to manufacture boilers for large power plants and offer related maintenance services, [...]

The Maharashtra Government, has planned 11,015 MW power generation in 2012-13 from gas, solar and coal-based projects. To achieve this, an outlay of Rs 1,500 crore has been proposed in the budget presented by Deputy Chief Minister Ajit Pawar. Pawar, who holds the finance portfolio too, said outlay of Rs 1,500 crore is proposed towards [...]

GMR Infrastructure Ltd is eyeing to raise about Rs 30 billion in loans from domestic banks. The company’s Chief Financial Officer A. Subba Rao said the money will be used to fund two hydro-electricity projects the company is setting up in northern India. H said the company plans also to raise debt overseas to help [...]

The power utilities of Tamil Nadu government would raise Rs 11,000 crore, through bonds and guarantee. The money will be raised by Tamilnadu Generation and Distribution Corporation Ltd (TANGEDCO) and Tamil Nadu Power Finance Corporation. Also, according to the state electricity board, it would generate additional revenue of Rs 9,000 crore from next year by [...]

The Union budget to be presented by Finance Minister Pranab Mukherjee in a few days is expected to announce a provision of Rs. 9,000 crore for the National Electricity Fund (NEF), which will subsidize the interest on loans taken by state electricity boards (SEBs) to cut distribution losses. “As part of the interest subsidy programme, [...]

Chinese imports of power equipment have increased unabated and several players have descended here. The Chinese have garnered 80 per cent of the market, says A. M. Naik, Chairman and Managing Director, L&T. “Every year, India imports equipment worth $30 billion, half of it being power equipment. L&T got the licence to make power equipment [...]

Nearly 50 power projects by various private players could face the risk of default if immediate steps are not taken to address issues like fuel shortages and environmental hurdles. The total cost of these projects is estimated at Rs 3.42 lakh crore. Association of Power Producers (APP), a grouping of over 20 private power companies [...]

As many as 37 independent power projects (IPPs) in the country, worth a total 46,748 MW capacity, have been stuck due to various reasons including shortage of coal linkage, captive mines in `go/no-go` areas, insufficient gas availability and increase in imported coal prices due to resource nationalism of source countries. Amoing the total 37 projects, [...]