Power Finance Corporation reaches out to NCLT
Power Finance Corp (PFC) has approached the National Company Law Tribunal (NCLT) to start insolvency proceedings against promoters of stressed power projects, officials said.
Kerala State Electricity Board buys costly power
For the first time this year, Kerala State Electricity Board (KSEB) has been forced to evacuate power from costly thermal and naphtha stations in the state. The utility was forced to purchase power from Brahmapuram and Kozhikode diesel power plants on March 9, the day that witnessed the highest power consumption of the year (77.5 million units).
NLC India to invest Rs 1.3 trillion
NLC India has lined up a capital expenditure of Rs 1.29 trillion in order to raise its capacity for mining and power generation. Of the total proposed investment, around 70 per cent would be funded through debt and the rest through equity, the company said.
Q4 2017 highlights VC/PE funding
ReNew Power Ventures - an Indian renewable energy project developer - secured ~$200 million (~Rs.13 billion) from the Canada Pension Plan Investment Board in the form of compulsory convertible preference shares (convertible debt) that will convert to equity shares at the time of an initial public offering.
T&D sits with Rs.30,000-crore refinancing opportunity
From the projects handled, we have developed a core team of project managers and sub-contractors who understand every facet of the activity from design, construction to commissioning and have established a methodology for speedy construction from which we are progressing in transmission work along with established distribution work.
Waning hope for UDAY!
Although state discoms have managed to leverage UDAY by paring financial losses from Rs.51,589.51 crore in FY16 to Rs.34,826.87 in FY17, a marginal decrease in AT&C losses seems to be the bone of contention, as what has been envisaged has not been achieved yet, barring bailing-out non-performers.
Susanta Kumar Roy has taken over the charge as Director (Projects), NTPC with effect from January 19, 2018. Roy, a mechanical engineering graduate from REC, Durgapur joined NTPC in 1981 as Executive Trainee.
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