A consortium of 18 lenders, led by State Bank of India, have successfully recovered ₹6,000 crore from the sale of the debt-laden Prayagraj Power Generation Co in the second such one-time settlement deal outside of the bankruptcy mechanism, raising expectations of financial revival for completed power projects.
The government’s plan to bid out road projects under the build-operate-transfer (BOT) framework is likely to get delayed until next financial year as the roads ministry is yet to firm up the guidelines for allocating the projects.
To aid the growth of the renewable energy sector and encourage investments in the sector, Anand Kumar, secretary of the Ministry of New & Renewable Energy, said that the government is working towards managing curtailments and improving ease of doing business for developers in the sector at the India Pavilion at COP 25 in Madrid on Monday.
The Centre plans to take a major initiative in the power sector with an ordinance to ensure sanctity of contracts, restrict cross-subsidisation of consumers and force utilities to pay their bills on time, a move that can go a long way in making electricity generation and distribution attractive for investors.
India’s fuel demand grew by 10.5% in November from a year earlier, its fastest pace since January 2018, driven by higher consumption of transport fuels gasoil and gasoline, and cooking gas.
Billionaire flamboyant entrepreneur Richard Branson will meet Maharashtra chief minister Uddhav Thackeray tomorrow to see if the new state government is as keen on the hyperloop project as the old one as well as “to ensure that any misunderstandings regarding the project are cleared,”
Around 81 per cent of the total hydropower potential in the country has been assessed to be existing in the rivers flowing from Himalayan glaciers and there is a high interdependence between the glaciers located in the Himalayas and the energy security of the country
The government has assured renewable energy developers of providing more business-friendly environment and policies like payment secuirty mechanism to lower risk on investment.
India’s power demand fell 4.3% in November from a year ago, representing the fourth straight month of decline, government data showed. Electricity demand fell to 94.60 billion units in November 2019, from 98.84 billion units during the same period last year
Binoy Kumar, Special Secretary, Logistics, Department of Commerce, has been appointed as Officer on Special Duty in the Ministry of Steel and will take over as Steel Secretary on August 31, 2018.