Power
Adani’s Aussie coal port gets A$500 million private credit loan
Adani Group's Australian coal port unit has secured A$500 million private credit loan from Farallon and King Street Capital Management. Banks' reluctance due to ESG concerns prompts coal companies in Australia, like Whitehaven Coal Ltd., to seek private financing.
India wants to increase domestic coal production, reduce imports, coal minister says
India aims to reduce coal imports and boost domestic production, according to Federal Coal Minister G. Kishan Reddy. The country, a major coal consumer, imported 176 million tons of thermal coal in 2023. Import levels are projected to drop below 160 million tons in 2024. The government's shift towards green energy aligns with Prime Minister Narendra Modi's plan to reach net zero emissions by 2070.
Gensol Engineering emerges successful bidder for Rs 1,340-cr battery energy storage project
The project will supply electricity on an 'on-demand' basis to Gujarat State's DISCOMs during peak and off-peak hours, thereby extending renewable energy availability beyond solar hours, fulfilling energy storage purchase obligations, and enhancing grid resilience, a company statement said.
Power Minister Manohar Lal takes stock of capacity addition
Newly appointed union power minister Manohar Lal took stock of capacity addition in transmission, generation, and battery energy storage. He reviewed the power supply situation and discussed the rising electricity demand.
NCLT allows fresh round of bidding for KSK Mahanadi
The National Company Law Tribunal (NCLT) has allowed KSK Mahanadi Power Company Ltd's committee of creditors (CoC) to invite fresh bids for the company. This decision comes after the tribunal dismissed Megha Engineering & Infrastructure Ltd's objection, stating that the first round of bidding had already attracted interest from 12 prospective resolution applicants. The resolution professional (RP) argued that the change in circumstance, with KSK Mahanadi undergoing corporate insolvency resolution process (CIRP) on a standalone basis, warranted fresh bidding. The second round of bidding has seen interest from entities like Coal India Ltd and NTPC Ltd.
Scorching heat drives India's gas-fired power use to multi-year highs in May
Sweltering heat and policy measures are driving a surge in gas-fired power use in India, with LNG imports set to sharply rise over the next two years. Gas-fired power generation doubled in April and May, impacting coal's share. India's LNG imports are forecasted to increase, driven by the power sector's growing demand for flexibility.
Electricity trade volumes on IEX jumps nearly 29 pc to 10,633 mn units in May
Indian Energy Exchange's trade volume grew by 29% in May, with electricity volumes increasing by 21%. The renewable energy certificates (RECs) surged by 640.3% yearly, impacting obligated entities and voluntary customers. Proactive measures by the government and regulators influenced trading platforms and market prices.
Peak power demand bounces back to nearly 241 GW on Tuesday
Earlier in May, the power ministry projected a peak power demand of 235 GW during daytime and 225 GW during evening hours for May and 240 GW during daytime and 235 GW during evening hours for June 2024.
SJVN's 900 MW project in Nepal to start power generation from 2025: CMD
SJVN expects its under-construction 900 MW Arun-3 hydro-electric project in Nepal to start power generation next year with 74% completion.
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Despite record peak demand, power exchange prices remain lower than last year's peak period
The average daily price in the day-ahead market on the power exchange remained lower in May compared to peak periods last year, despite record-high peak demand. This indicates sufficient energy supply from various sources. The average price during May was ₹5.30 per unit, lower than last year's peak period of mid-August to mid-September, which was ₹7.75 per unit. Increased hydro and wind power generation have contributed to this improvement in supply. Even during days of record peak demand, prices remained relatively low on average.
Coal output increases 10% in May
India's coal production rose by 10.15% to 83.91 million tonnes in May, with Coal India Ltd accounting for over 80% of output.
Adani Power arm amalgamates Stratatech Mineral Resources
Adani Power Ltd's arm Mahan Energen Ltd approved merging Stratatech Mineral Resources with Dhirauli Coal Mine to enhance fuel security, subject to shareholder and regulatory approvals, with a peak-rated capacity of 6.5 million tonnes per annum. The merger involves a wholly-owned subsidiary engaged in mining, power generation, and allied activities.
Powering ahead: How India made big electricity blackouts a thing of the past
The present situation is a far cry from July 30 and 31, 2012, when India experienced the world's largest blackout. During that crisis, the northern and eastern grids collapsed due to overload, leaving 620 million people without power for more than 13 hours. Since then, significant improvements have transformed India’s transmission network into the world's largest unified grid.
Sweltering heat triggers 15% rise in India's power consumption in May
India's power consumption surged by 15% to 156.31 BU in May 2024 due to scorching heat, leading to increased use of cooling appliances. Peak power demand hit a record high of 250.07 GW, surpassing the previous peak of 243.27 GW. Experts project a peak demand of 260 GW this summer, driven by soaring temperatures.
REC board approves raising foreign borrowing limit to USD 24 bn
State-owned REC Ltd on Friday said its board has approved raising the borrowing limit in foreign currency to USD 24 billion form USD 20 billion. The overall borrowing limit in Indian rupees was however retained at Rs 6 lakh crore, the company said in an exchange filing.
