GVK Energy Ltd has closed funding for its 540 MW coal-fired power project in Punjab, having raised Rs500 crore from Deutsche Bank in priority funding, according to two people directly aware of the development.
Owing to the development of Punjab's energy sector, a delegation led by former US ambassador Teresita C Schaffer expressed their interest in extending cooperation to the Government, particularly with regards to the solar energy faction.
With the cheapest power from Bhakra Nangal and Beas projects all set to fall in the first quarter due to depleted level of water at reservoirs, the power utilities in Punjab and Haryana will have to spend extra buck to maintain adequate supply.
The summer of 2017 may not prove as uncomfortable for electricity consumers across India as the season in previous years, thanks to surplus power generation capacity, adequate coal stocks and improved purchasing ability of distribution companies.
The Adani Group has shown interest in investing in Punjab and the companies’ top functionaries met Chief Minister Amarinder Singh here on Monday to pursue the matter, officials said
Punjab’s fiscal bankruptcy has revealed itself not just through the massive debt pile-up or delayed salary payments; it came through government departments defaulting on electricity bills as well.
Former Union Minister MS Gill said today that the Punjab Government should build pressure on the Centre to get the Bhakra Beas Management Board (BBMB) Chairman appointed at the earliest.
Azure Power (NYSE: AZRE), a leading solar power producer in India, announced that it has commissioned the largest (150 MW) solar power project in north India, in the state of Punjab in December 2016