Prime Minister Modi’s vision to place India in the league of superpowers inspires millions of Indians to dream big. Former Power Minister Piyush Goyal shouldered the responsibility of ‘powering’ dreams of millions of children, industrialists, farmers, and shopkeepers key stakeholders of economic growth and prosperity.
The Indian power sector had reached the absolute dead-end by the 1980s. The total losses of the SEBs without subsidy had crossed Rs. 3000 crore.
India is amongst the fastest growing economies and the ‘power sector’ is acting as a catalyst to this growth. The record capacity addition in the last couple of years raised the installed generation capacity to over 315GW, including 50GW from renewables.
With the Centre’s push for electricity for all, power financing firm Rural Electrification Corporation (REC) sees major growth coming from renewable energy, transmission, distribution, smart grid and turnkey projects overseas through subsidiaries.
JSW Energy Ltd’s decision to spend as much as Rs4,000 crore to set up electric vehicle (EV) and related businesses has been met with the usual scepticism by analysts.
Under the BJP government, UP’s power sector is on the revival path. After dithering for years over implementation of bold measures to bridge the revenue gap and restore UP Power Corporation Ltd’s financial health, the state has decided to bite the bullet on tariff increase for non-industrial consumers.
PPAs signed for first Wind Auction totalling 1050 MW
Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, Piyush Goyal presided over the signing of Power Purchase Agreements (PPAs) for purchase of 1050 MW of wind power under Ministry of New and Renewable Energy (MNRE)’s first Wind Auction Scheme on Friday.
ICICI has come out with its first quarter (April-June) earnings estimates for the Power sector. The brokerage house expects NTPC to report net profit at 2385.3 crore up 13.8% quarter-on-quarter.
National Investment and Infrastructure Fund (NIIF), India’s first sovereign fund to promote infra development, on Friday assured Finance Minister Arun Jaitley of strong investment pipeline for the roads, ports, aviation and power sectors.
The Bharatiya Janata Party (BJP) government’s promise to provide round- the-clock electricity from October 2018 in Uttar Pradesh may hold the key to revive India’s electricity demand.