BHEL commissions second unit of Shree Singaji thermal power plant in MP
One of India's largest power equipment makers, BHEL announced that it has commissioned a 600 MW of Shree Singaji thermal power project in Madhya Pradesh. The plant consists of two units, each of 600 MW. The first unit was commissioned by BHEL in November, 2013. As most of the power plant it operates, BHEL's scope of work includes design, engineering and and commissioning of project. More than 90 per cent of the thermal generating capacity of the state utility in Madhya Pradesh is with BHEL. Moreover, BHEL is executing 1x500 MW Vindhyachal and 2x800 MW Gadarwara coal based projects of NTPC in Madhya Pradesh.
Tata Power board okays Rs. 3,700-cr NCD issue
Tata Power said its board of directors had on Monday approved the issue of non-cumulative, redeemable, listed, and rated non-convertible debentures (NCDs), not exceeding Rs. 3,700 crore on a private placement basis. In a communication to the stock exchanges, Tata Power said the NCDs may be issued in one or more tranches and may be unsecured or secured by creation of charge over the companys assets.
Private power producers back out of Odisha and Tamil Nadu UMPP bidding process
As per media reports, private players like Adani, Jindal Power, Sterlite and GMR have opted out of bidding process for ultra mega power projects (UMPP) in Odisha and Tamil Nadu. This leaves PSU NTPC in the race for the proposed 4,000 MW size plants. The reason as to why the private players have backed out of the deal is not very clear.
The approved list of bidders for the Odisha UMPP were power producers like state run NTPC, NHPC and private players like Tata, Adani, JSW Energy, Jindal Power, Sterlite, CLP and L&T. For the Cheyyur (Tamil Nadu) UMPP, NTPC, Adani, CLP, GMR, Jindal, JSW Energy, Sterlite, L&T were among the pre-qualified parties. Odisha UMPP, which has an investment potential of Rs. 25,000 crore, is a pit-head power project while Cheyyur UMPP will require an investment of about Rs 24,200 crore.
As per the revision in the bidding documents, it was stated that any escalation in cost of fuel will be passed on to the consumer as higher tariff and the companies executing projects will have to mandatorily source equipment from domestic manufacturers.
NTPC plans solar power plant in Rewa, Madhya Pradesh
As per media reports, NTPC will invest Rs. 5000 crore to set up a solar powered plant in Madhya Pradesh. The estimated capacity of the power plant is 750 MW and it would be set up in Rewa, MP.
Land for the project has already been identified and the investment will be infused in parts, each having Rs. 250 crores. The average amount per MW is estimated to be Rs. 7 crore. NTPC plans to invest in its green portfolio. Specially in the solar sector, and has hinted upon adding 3,500 MW to its solar power generating capacity in the next 5-7 years. The proposed plans include 1000 MW in Andhra Pradesh and Telangana. NTPC is also scouting for land in Rajasthan as the state gets about 340 days of peak sunshine every year which is very conducive for generating solar power.
NTPC has an installed capacity of ~200 MW of solar power, of which 50 MW plant has been operational in Rahgarh in MP.
Pennar Industries and its Subsidiary bags orders worth Rs.102 cr
Pennar Industries Ltd and its subsidiary Pennar Engineered Building Systems (PEBS Pennar) have announced receipt of orders worth Rs. 102 crores. The companies received orders from MRF Limited, L & T, KRIDL, FNSS, Xylem Technologies, Thermax, SKS Power Generation Ltd, Hamon Research Cottrell, HBL Power Systems Ltd among others.
Commenting on the development Managing Director, PEBS Pennar, Mr P V Rao, said "Big orders from large companies like MRF, L&T and others shows customer's confidence on PEBS Pennar as a leading PEB company in India. Apart from this we are receiving repeat business from existing customers. We are able to achieve this on basis of our strong technological and project management capabilities".
Vice Chairman and Managing Director, Pennar Industries,Aditya Rao added that, "Pennar is pleased to announce receipt of orders worth over Rs. 100 Crores from our customers. All the divisions in Pennar group are growing rapidly now. We have increased our customer base and expanding to new geographies. We are confident of achieving targets set by us".
Alstom T&D India bags contract from Power Grid
Alstom T&D India has secured a contract from Power Grid Corporation of India Limited (PGCIL), for approximately 17 million (INR 1380 million), to supply transformers and reactors for the expansion of 400/220 kV grid substations across southern India. The project is part of Power Grids System Strengthening Scheme to boost power handling capacity of substations, and stabilise the transmission infrastructure in southern India.
Under this new contract, Alstom will supply six units of 400/220 kV, 500 MVA transformers and two units of 420 kV, 125 MVAr shunt reactors. All equipment will be supplied from Alstom T&D Indias manufacturing facilities across the country.
This is Alstom's second win to strengthen the countrys transmission infrastructure
under the System Strengthening Scheme. The first power transmission reinforcement contract was awarded in July 2014 to expand 400/200 kV grid substations across eastern India.
Rathin Basu, Managing Director of Alstom T&D India said, "Winning a second project under the System Strengthening Scheme is a major achievement for Alstom, confirming our industrial expertise and leadership. We are delighted to continue contributing to the development of Indias national grid infrastructure.
Crompton Greaves Q2 net profit at Rs 695.90 mn
Crompton Greaves Ltd has posted a net profit/(loss) after taxes, minority interest and share of profit/(loss) of associates (net) of Rs. 695.90 mn for the quarter ended September 30, 2014 as compared to Rs. 584.10 mn for the quarter ended September 30, 2013.
Total Income has increased from Rs. 32739.20 mn for the quarter ended September 30, 2013 to Rs. 34757.90 mn for the quarter ended September 30, 2014.
Sadbhav Engineering sets QIP floor price
Sadbhav Engineering Ltd has announced that the QIP Committee (the "Committee") of the Board of Directors of the Company at its meeting held on October 14, 2014 has decided to open the Issue to be undertaken in accordance with the provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the "SEBI Regulations").
Further the Company has informed that, the floor price in respect of the Issue, based on the pricing formula as prescribed under Regulation 85 of the SEBI Regulations is Rs. 219.0625 per equity share of the Company, and the 'relevant date' for this purpose, in terms of Regulation 81(c)(i) of the SEBI Regulations, is October 14, 2014.