The country’s oldest financial institution IFCI said Monday it has sold stake in two thermal power projects for Rs 1,174 crore. The exit from thermal power projects is part of the exercise to monetise unquoted equity investments and reduce non-performing asset (NPA) levels
The Union government’s approval for new power projects and a plan to address stress in the sector are expected to revive investment but experts and the industry see the measures working only if backed by real changes in coal supply and power purchase.
The government on Thursday cleared investment proposals worth over Rs 31,560 crore in power projects, including two coal-based thermal plants and a hydro project on river Chenab in Jammu and Kashmir.
The Indian government might cancel about 50 gigawatt (GW) of coal-based power projects in the near future, according to S&P Global Platts. An additional 46 GW coal-based capacity, currently under construction, is also at risk.
Upcoming, coal-fired and hydropower stations and transmission lines will have to purchase equipment locally, as per new guidelines issued by the central government.
India issued a tender on Tuesday to build 7.5-gigawatt of solar power projects in the insurgency-hit state of Jammu and Kashmir, state-run Solar Energy Corporation of India said on its website.
The Asian Development Bank (ADB) on Friday signed three loan agreements with the government to provide debt of USD 574 million for on-lending, electricity transmission and water supply infrastructure projects.
Madras High Court has granted interim reprieve to two private power companies by staying insolvency proceedings against their stressed assets. Several other firms, meanwhile, are likely to approach the Supreme Court on Tuesday
As part of its Power System Master Plan (PSMP) 2016, the government is going to implement 10 mega projects of about 15,000 MW of capacity by 2030, reports UNB.
Additional 180 days could be provided for resolution of 34 stressed power projects with a view to avoiding potential value erosion of operating plants, according to a government report.