Essar to surrender Tokisud coal mine, seek Rs 4.9-bn refund
Essar Power has decided to surrender the Tokisud North coal block in Jharkhand. The company has already invested Rs 490 crore in the project. The move which comes in the backdrop of facing delays in key approvals and sudden change in tariff terms, will cripple the company's 1,200-MW Mahan plant in Madhya Pradesh.
No clear roadmap
The outlook for thermal power generation market is not negative as India is still hugely underserved on electricity. The current limbo is caused by a sudden addition of about 100 GW in a five year period, driven by a policy of coal block allocation i.e., a rush encouraged by the premium from fuel shortages.
Essar Power pays dues, gets time for requisite clearances
The government has put in abeyance for two months a notice served on Essar Power that sought to terminate its lease for mining the Tokisud North coal block in Jharkhand. The move is aimed at giving the company time to obtain the required clearances and save the lease from cancellation.
Allot coal block | State to Centre
In a meeting with Union minister of state for power Piyush Goyal in New Delhi, Kerala power minister Kadakampally Surendran has requested the Centre to allocate a new coal block to the state.
RE focus do not signal move away from coal
Currently, renewable energy costs are generally higher than that of fossil-based and nuclear energy. In addition to this, unlike well-established conventional designs and technologies, the advancement in different RE technologies still requires substantial investments and research and development
GMR divests 30percent in energy assets
Bengaluru based GMR Group will disinvest 30 per cent in its 10 energy assets to a Malaysian power utility for $300 million (Rs.2,000 crore).
Govt to issue notice to Essar Power over dues
The government will issue notices to Essar Power for not paying dues to Jharkhand over the Tokisud North coal block. The company has not been able to pay to the Jharkhand government to get the mining lease for Tokisud coal block executed in its name.
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