Positive for coal, marginally negative for solar, wind
In terms of impact of GST on the power sector, it is a mixed bag with the effect being positive for some and marginally negative for others. The reduction in tax rate on domestic coal will provide a relief to coal based power plants in the cost of power generation even after accounting for an increase in capital cost (due to higher tax rates in boiler, turbine, generator segment).
Wiring the Future
The wires & cables segment has come into its own in India, and with plans for huge infrastructure projects in place and an expected positive outlook on GST, the future looks bright.
The Powernomics of GST
Finally, Goods and Services Tax (GST) has arrived on July 1, 2017, and the first batch of filing of monthly returns is underway in August 2017. Like any other changeover, GST is also facing its initial pangs.
PV Guangzhou 2017
Strongly supported by Guangdong Government, with the goal to produce 400 million kilowatts from photovoltaic power generation in 2020, based on 100 million kilowatts in 2015.
Mytrah Energy reports $362.23 mn in revenue
Mytrah Energy Ltd, announced results for the year ended December 31, 2016. The company reported full year revenues of $362.23 million, an increase of 385 per cent, over last year’s revenue of $74.72 million. The increase is due to a combination of higher revenue from power generation and inclusion of construction revenue.
PFS reports financial results for the quarter and year ended March 31, 2017
PTC India Financial Services Limited (PFS) reported its financial results for the quarter and year ended 31st March 2017. Total income increased by 60 per cent to Rs 432 crore and profit after tax increased by 124 per cent to Rs 110 crore during Q4FY2017. The Board of Directors has recommended dividend at 15 per cent i.e. Rs 1.50 per share of Rs 10 each for FY2017.
Chubb announced the appointment of Titus Samuel as the new Head of Power and Utilities for Asia. He will be based in Singapore and will report to Mick Peacock, Head of Power and Energy for Asia Pacific.
L and T makes its mark in Bangladesh
Larsen & Toubro Limited has commissioned gas turbines in open cycle for two large gas-based power projects in Bangladesh in quick succession during March 2017. The first 150 MW gas turbine for Bangladesh Power Development Board (BPDB)’s 225 MW Combined Cycle (Dual Fuel) Power Plant at Sikalbaha in Chittagong district was synchronised with the national grid on March 25, 2017.