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.
Thyssenkrupp today said it has bagged a contract worth around USD 115 million from Doosan Power Systems India (DPSI) to supply material handling plants for two thermal power projects in Uttar Pradesh.
Bidders will have to use locally manufactured equipment for a portion of all future bids to set up solar power projects in the country.
Banking secretary Rajiv Kumar will hold a meeting with banks, power companies, and senior officials of Reserve Bank of India and related ministries on June 21 to discuss the banking regulator’s new norms on stressed assets in relation with power projects, as directed by the Allahabad High Court.
Banking secretary Rajiv Kumar will shortly hold a meeting with banks, power companies, Reserve Bank of India (RBI) and the power ministry to discuss ways to address issues facing stressed power plants, as directed by the Allahabad High Court, railways and coal minister Piyush Goyal said on Monday.
Replying to the Union power ministry’s request for extension to stressed power projects, the Reserve Bank of India (RBI) has said that no such extension would change the fundamental issues facing the power sector.
Power Finance Corporation (PFC) is working with the country’s biggest lender, State Bank of India (SBI), and others to resolve
The government is considering making it mandatory for all power projects funded by state-run banks to procure local equipment. A public procurement mechanism with purchase preference to domestic equipment manufacturers for future electricity generation, transmission and distribution projects is in the works, a senior government official said.