Power Newsletter - January 27 to 30, 2015

India Infoline News Service | Mumbai | January 30, 2015 15:17 IST

TOP STORY

Coal India OFS Floor Price set at Rs. 358 per share

The government has declared the OFS Floor Price of Coal India at Rs. 358 per share, as it plans to sell 10% of its stake to raise an amount close to Rs. 24,000 crore through divestment. Read More...

DOMESTIC NEWS

Adani Enterprises Board approves scheme of arrangement

Adani Enterprises Limited together with its subsidiaries Adani Ports and Special Economic Zone Limited (APSEZ) and Adani Power Limited (APL) announced a composite Scheme of Arrangement for the demerger of the ‘Port Undertaking’ of AEL into APSEZ and demerger of the ‘Power Undertaking’ of AEL into APL and the emerging simplification of the corporate structure of the Adani Group. Read More...


Coal India OFS good opportunity for retail investors: IIFL Research

The Government of India plans to reduce its stake in Coal India from 89.65% to 79.65% via the Offer For Sale (OFS) route. The government will sell 315.8mn shares or 5% stake, through an offer for sale, with an option to sell the same number of shares as a greenshoe option. The floor or minimum sale price for the offer will be announced on Thursday after market and the OFS will start on Friday 30th January ‘15. The central government has doubled the stipulated quota for retail investors to 20% from the 10% mandated by SEBI and would also provide a 5% discount to retail investors. We believe that the OFS is a good opportunity for retail investors to participate. Read More...

BHEL commissions 600 MW Thermal Unit in Odisha

Bharat Heavy Electricals Limited (BHEL) has achieved one more landmark by successfully commissioning another 600 MW thermal unit in Odisha. The unit was commissioned at Jindal India Thermal Power Limited (JITPL)’s upcoming 2x600 MW thermal power project located at Derang in Angul District of Odisha. Read More...

Tata Power, Inox Wind signs 172 MW wind power deals

Inox Wind Limited (IWL), a subsidiary of Gujarat Fluorochemicals Limited, and one of India’s leading  wind power solutions provider, has been awarded two wind-farm project contracts  of 54 MW and 118 MW in Gujarat and Rajasthan, respectively, by Tata Power Renewable Energy Limited (TPREL), a wholly owned subsidiary of The Tata Power Company Limited. Read More...

SunEdison CEO meets POTUS Obama and PM Modi

SunEdison, Inc., a leading global solar technology manufacturer and provider of solar energy services, announced that Ahmad Chatila, Chief Executive Officer of SunEdison joined President Barack Obama and Prime Minister Narendra Modi of India in New Delhi, India, to discuss the ways that renewable energy can drive US-India trade, provide American jobs, and curb India's greenhouse gas emissions. Read More...

Power and renewables deals hit a new high for the decade: PwC

Global M&A value in the power and renewables sector has reached the highest level seen in the current decade – up 70% year-on-year - and any further upward movement would begin to move sector deal value back towards the heady levels last seen before the credit crunch, according to PwC and Strategy’s latest annual Power and Renewables Deals report. Read More...

Power shift in business intelligence and analytics will fuel disruption: Gartner

Traditional business intelligence (BI) and analytic models are being disrupted as the balance of power shifts from IT to the business, according to Gartner, Inc. The rise of data discovery, access to multistructured data, data preparation tools and smart capabilities will further democratize access to analytics and stress the need for governance. Gartner predicts that by 2017, most business users and analysts in organizations will have access to self-service tools to prepare data for analysis. Read More...

Bharat Bijlee Q3 PAT at Rs4.09 cr

Bharat Bijlee Ltd has posted results for the third quarter ended 31st December, 2014.The net profit for the quarter stood at Rs. 4.09 cr. Bharat Bijlee Q3 net sales  at Rs168 cr. 

Jaiprakash Power Ventures writes to bondholders, announces default on convertible bonds

In a letter to its bondholders, Jaiprakash Power Ventures has said that the company is likely to default on payments for convertible bonds worth $200 million due on Feb 13 this year, as it could not generate enough revenue from its operations. Read More...

Adani Power Q3 cons net loss at Rs429 crore

Adani Power Ltd has posted results for the third quarter ended 31st December, 2014.The net profit for the quarter stood at Rs. 429 crore. Adani Power Q3 cons sales at Rs. 5,504 crore. 

Why the US backs India’s great solar bet

It presently supplies less than 1% of national electricity demand, but power from the sun is at the centre of an ambitious, multi-billion-dollar bet for a cleaner, brighter India. With the US committing US$4bn (Rs 24,400 crore) to India’s renewable energy sector at a time when energy-starved India is under pressure to cut carbon emissions, Prime Minister Narendra Modi’s motto of “energy to all” could not have had a better boost. Read More...

Surge observed in the number of companies bidding for coal blocks

As per news reports, there has been a surge in the number of companies bidding for the coal blocks to be auctioned by the government. Number of such companies has risen from 100 to 260 within a week, with 180 companies interested in mines that are already in production and another 80 interested in mines that are ready to produce but where production has not started yet. Read More...

India can achieve 100% access to power and connect more than 300m additional people by 2034

Pricewaterhouse Coopers’ recently launched report called ‘The Future of India: The Winning Leap’ identifies non-linear solutions which could save US $ 200 bn of projected investment to provide universal access to power while tripling consumption on a per capita basis. Read More...

JSW Group plans $4 billion investment in its power business

Sajjan Jindal, CMD of JSW Steel, is planning to pump in $4 billion to increase the group's share in the power business. As reported in an interview with CNBC, he said that JSW group is in talks to acquire 4,000 MW of JP Hydro's assets. They have already acquired 4,500 MW and their target is 10,000 MW. Read More...

Wind Sector acquisition activity ramps up, Project Acquisitions Double to $13 bn in 2014: Mercom Capital

Mercom Capital Group, llc, a global clean energy communications and consulting firm, released its report on funding and merger and acquisition (M&A) activity for the wind sector for 2014. Global venture capital (VC) funding in the wind sector decreased to $311 million in 2014 compared to $455 million in 2013. Read More...

Kirloskar Brothers bags dual recognition from CII

Kirloskar Brothers, a global fluid management company, has been accorded with dual certification by CII. KBL’s Sanand plant has been recognised as a ‘Green Company’ by the Green Business Centre of Confederation of Indian Industry in compliance with its Green Company Rating System. Read More...

MAX power group assigned 'B' rating with stable outlook

Standard & Poor's Ratings Services said that it had assigned its 'B' long-term issuer credit rating to the Indonesia-based and Singapore-incorporated group MAXpower Group.  The outlook is stable. At the same time, we assigned our ASEAN regional scale rating of 'axBB-'. Read More...

CBI files progress report of investigation on Hindalco in coal scam

As per news reports, CBI has filed progress report of its investigation on Hindalco in the coal scam. The investigating agency has requested the court to not open sealed cover till further probe. CBI has also said that it will take about 2 weeks to complete the investigation. Read More...