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Daily Archives: February 27, 2017

Wind power bidding at Rs 3.46/unit for 1000MW: Devansh Jain, Director, Inox Wind

According to reports, in an exclusive chat with ET Now, Devansh Jain, Director, Inox Wind speaks about the great capacity expansion, the auction and the current projects. ET Now: Let us talk about the auction how much power are you expected to generate post the bid? Devansh Jain: We had bids ranging from Rs 4 to 4.72 to begin with which obviously kind of kept going down as the option to place I think as the auction lasted for close to ... Read More »

Mittal plans 600 MW solar farm in Karnataka

According to reports, the world’s largest steelmaker ArcelorMittal may set up a solar farm on land allotted to it for the proposed 6 MT Karnataka project in view of excess global steel capacity and delays in securing raw materials. It had entered into a pact with Karnataka government for setting up a 6 million tonne steel plant with a captive 750 MW power plant at an investment of ₹6.5 billion. “In view of excess capacity of steel world-wide and uncertainty ... Read More »

Plummeting wind tariffs raise questions of viability

According to reports, what they feared, has happened. For long, the wind turbine manufacturers have been resisting any move for auctioning wind power capacity on the basis of competitive tariff bids, fearing an intense auction room battle would hammer down the prices. For the machine manufacturers like Suzlon, Gamesa and Inox, the customers are the wind energy companies—the ‘independent power producers’ (IPPs). If the IPPs get low prices for their electricity, pressure would be on the manufacturers to drop prices. ... Read More »

OGPC seeks shareholders’ nod to convert debt into equity

According to reports, Orient Green Power Company (OGPC) has sought shareholders’ vote on converting up to Rs 50 crore of debt of Yes Bank into equity. The special resolution is to approve the conversion of loan into equity through allotment of equity shares of the face value of 10 to Yes Bank Ltd. The move follows bank’s exercise of its right to convert certain outstanding credit facilities granted by the bank which shall not exceed the amount of principal of ... Read More »

Wind power tariffs crash to ₹3.46/kWhr, set a new benchmark at auction

According to reports, wind power prices have crashed to ₹3.46 a kWhr in the country’s first ever auction of wind capacity. The least wind tariff today is ₹4.16 in Tamil Nadu, if one ignores the outlier ₹3.82 for some specific sites in Maharashtra. This fall in wind tariffs mirrors a similar trend in solar tariffs witnessed earlier this month, when the prices fell to an unprecedented ₹3.29, averaged over 25 years. Four companies, Mytrah Energy, Green Infra, Inox and Ostro ... Read More »

ADB to lend $500 million to India for power transmission projects

According to reports, the Asian Development Bank (ADB) will lend $500 million to India to improve large-scale power transmission from the northern to the southern regions, while helping integrate renewable energy in the country’s power system. The ADB loan will make up around 19% of the $2.58 billion total project cost while Power Grid Corporation Ltd will provide $2.08 billion. The loan has a 20-year term, including a five-year grace period.  “Expansion of inter-regional connectivity enables bulk power transfer to ... Read More »

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