PPAS
NHPC, ENGIE sign pacts for two 200 MW solar projects in Gujarat
State-owned NHPC and energy solutions provider ENGIE have signed power purchase agreements (PPAs) with Gujarat Urja Vikas Nigam Ltd (GUVNL) for two 200 MW solar projects. NHPC's project will be located within Gujarat State Electricity Corporation's renewable energy park at Khavda, with an estimated cost of Rs 846.66 crore and a completion period of 15 months from the PPA execution date.
Juniper Green Energy secures renewable PPAs in Gujarat, Rajasthan
Juniper Green Energy announced on Wednesday that it has signed power purchase agreements for renewable energy projects in Gujarat and Rajasthan. The company has secured an agreement with Gujarat Urja Vikas Nigam Limited (GUVNL) under wind phase VI for a standalone 90 MW wind project in Gujarat. The aim of these projects is to promote renewable energy in these regions.
Thermal plant load factor to remain healthy at 70 pc in FY'25 on power demand growth of 6 pc: ICRA
ICRA projects a stable outlook for the thermal power segment with a 70% thermal plant load factor expected in FY2025, driven by 6% power demand growth.
NTPC proposes pooling entire capacity for supply to power distribution companies
If approved, the proposed move could ease supply and operations as the company would be able to sell power to a discom from any station and not restrict it to stage-wise units, people familiar with the matter said. The power purchase agreements (PPAs) with some discoms are signed in stages of commissioning and each stage is a separate entity for tariff and scheduling purposes.
Govt asks all gas-based plants to be operational from May 1 to June 30 as electricity demand surges
India's government has ordered all gas-based power generating stations to operationalize their plants from May 1 to June 30 due to a potential prolonged heat wave this summer. The ministry has projected a peak power demand of 260 GW, a record high from September last year. The decision is part of a series of measures to meet summer electricity demand. The order will remain valid for generation and supply from May 1, 2024, to June 30, 2024.
Crisil upgrades rating on Adani Power bank loan facilities
Crisil Ratings upgrades Adani Power's loan facilities to 'AA-', citing strong improvement in business and financial risk profile. The upgrade is driven by better-than-expected operating performance, timely commissioning of power plants, recovery of pending regulatory dues, and improvement in receivables.
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Unwarranted load shedding to be penalized, it is insult to people: Union Power Minister R K Singh
Union Power Minister R K Singh emphasized that gratuitous load shedding will be penalized as it is considered an insult to the people of the country. During a two-day review meeting of top power and energy officials, Singh highlighted the need to eliminate load shedding and urged distribution companies (discoms) to enhance capacity, sign power purchase agreements (PPAs), and improve efficiency.
NLC India awards contract to BHEL to set up 2,400 MW thermal power project in Odisha
NLC India has given a contract to BHEL to set up a 2,400 MW thermal power project at Jharsuguda district in Odisha. The Pit Head Green Field Thermal Power Project of 2,400 MW capacity, comprising three units of 800 MW each, is based on Ultra Super Critical Technology. The first unit of the project is scheduled for commissioning in FY'29.
Tata Power Renewable Energy signs PPAs with MSEDCL for 200 MW and 150 MW solar projects
Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, has signed two power purchase agreements (PPAs) with Maharashtra State Electricity Distribution Company Ltd. (MSEDCL) for commissioning two solar power projects, 200 MW and 150 MW, respectively.
PTC India signs two long-term agreements for 215 MW power purchase: CMD
Power trading firm PTC India has signed two long-term agreements to purchase 215 MW of electricity - a 100 MW solar power purchase agreement with Brookfield Renewables and another for 115 MW of thermal power with V S Lignite, said the company's CMD Rajib K Mishra. PTC India will market the power to utilities and commercial and industrial entities.
Power ministry panel outlines roadmap to develop electricity market
A power ministry-constituted panel has suggested a roadmap outlining the interventions for the near, medium, and long term for the development of the electricity market.
KKR's two InvITs - IndiGrid and Virescent - merge in first-of-a-kind deal
Infrastructure Investment Trust (InvIT) IndiGrid, owned by KKR in the Indian power sector, has taken over Virescent Renewable Energy Trust, another fund floated by the same company. Valued at INR40bn ($533m), Sebi approval is being sought for the transaction. Although Indian law currently prohibits such mergers, the deal is the first of its kind. About half a dozen domestic and global energy developers, including Jindal Steel and Power, Actis, and an Abu Dhabi-based conglomerate, competed in the final round.
Tata Power proposes new 400 KV transmission corridor for Mumbai
India's Tata Power has submitted a proposal to create a high voltage 400kV line corridor to the state government and regulator. If approved, the project could take four to five years to complete and may cost around INR10bn ($136m). Currently, Mumbai's demand of about 3,500 MW is met by 110 KV and 220 KV lines, but the new transmission corridor "will help meet the city’s growing electricity demand and enhance electricity distribution to as high as 15,000MW in future", said Sanjay Banga.
R K Singh launches portal to ensure availability of power during peak demand season at high price
Union Power Minister R K Singh has launched a High Price Day Ahead Market (HP-DAM) and Surplus Power Portal (PUShP) to ensure greater availability of power during the peak demand season at a price higher than the ceiling of Rs 12 per unit by certain category of sellers. Earlier in February, CERC had approved the HP-DAM segment where power can be sold at a price as high as Rs 50 per unit.
Adani Power reduces net contracted capacity of electricity supply for two Haryana discoms
Under the terms of the SPPAs (supplementary power purchase agreements), the net capacity contracted with Haryana discoms has been revised to 600 MW each, or 1,200 MW in aggregate (1,320 MW in aggregate at generation end), as delivered, considering availability of domestic coal linkage, a BSE filing stated.
Power plants can now sell surplus outside PPAs
The power ministry has issued a clarification to the emergency clause invoked in May this year that mandated non-operational imported coal-based plants to start generation amid a sharp rise in power demand. They could sell surplus electricity on the power exchanges if the beneficiary states did not buy the entire electricity generated.
Government to invite bids for power from 8,000 MW thermal capacities without PPAs
Replying to a question related to capacities without PPAs in India, the minister said, "There are 8,000 MW of capacities which don't have PPAs in thermal".
Govt may invoke emergency powers to let power producers step out of PPAs
The government would allow these plants to sell electricity on the power exchanges if the states they have PPAs with do not buy costlier electricity generated by them, people aware of the deliberations told ET. The proposed mandate will ensure these projects operate and sell to distribution companies under their existing contracts or sell on power exchanges if power retailers refuse offtake due to higher costs.
Govt orders all imported coal plants to operate amid high power demand
The directive will bring on stream at least 7 GW power plants of Essar Power, Coastal Energen in states such as Gujarat, Andhra Pradesh and Tamil Nadu and it will also apply to the plants under the National Company Law Tribunal.
ReNew Power inks 5 PPAs to supply about 1500 MW solar energy
The company has signed PPAs with Solar Energy Corporation of India (SECI) and Punjab State Power Corporation Ltd (PSPCL), as well as multiple long-term purchase agreements with corporate buyers together totalling around 2 GW, a company statement said.
Can't renegotiate PPAs; clear RE dues in 6 weeks: AP HC on PPA reneging matter
The order settles a crucial two-year old matter that created news within the country and international investment community. Andhra Pradesh’s attempt to renegotiate Power Purchase Agreements (PPAs), first in India, has been followed by other states like Gujarat and Punjab.
IPPs say Punjab move to revoke contracts will hit investments
If such action is allowed to go through, other states may follow suit, thereby posing a systemic risk to power sector investments- existing and upcoming-including investments in much needed RE space, Association of Power Producers has said.
Punjab begins renegotiation of solar PPAs
Punjab has become the latest state to negotiate signed renewable energy contacts asking suppliers to lower tariffs, ahead of polls early next year.
Model power buying pacts to be redrafted to junk long-term deals
The government is redrafting its model power purchase agreements (PPAs) to move away from long-term contracts."Long-term power contracts are no longer suitable for the Indian power system," a senior government official said.
Centre likely to extend compliance deadline for tax sops on long-term PPAs by three years
As per the current policy for plants above 1,000 MW, the timeline to sign long-term PPAs for 25 provisional mega certified projects will end between September 2021 and April 2022
CERC paves way for discoms to exit old PPAs
The union power ministry’s March guidelines give choice to power distribution companies to continue or exit PPAs that have completed their 25-year term and allow the generators to sell electricity in any mode.
Centre enables discoms to relinquish legacy PPAs
A senior official in one of the distribution companies said the vintage PPAs had exit condition of 25 years or useful life of the project, whichever is later. Power distribution companies in Delhi, for example, have been seeking to surrender PPAs with state and centre-run plants citing high costs.
Renew Power, Mytrah Energy, Torrent Power seek termination of wind power PPAs
The companies went to the Central Electricity Regulatory Commission to ensure that SECI does not invoke the bank guarantees they had issued to the renewable energy ministry’s nodal agency for conducting wind and solar auctions, the sources said.
Acme Solar scouts for buyer to sell 1200-MW power purchase agreements (PPAs)
Lack of liquidity and delay in commissioning projects are forcing many of the clean energy producers to sell or surrender PPAs signed with Solar Energy Corporation of India Ltd (SECI).
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