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w Delhi:
Energy-strapped India will get a capacity addition of nearly 12,000 MWs in the nextthree years after 10 power projects built by private players begin their operations, Power Minister P M Sayeed has said.After reviewing a meeting of the Inter-Institutional Group (IIG) comprising senior officials fromthe power ministry and representatives of financial institutions, the Minister said the group has been instrumental in facilitating financial closure of 13 private power projects having a totalcapacity of over 4,477 MWs.According to the group the following projects will be commissioned.The 1,015 MW Mangalore Thermal Power Project (TPP) in Karnataka will be commissioned bySeptember, 2008, where equity tie-up is the main outstanding issue.The Pathadi TPP situated in Chhattisgarh (Ph-II) of 300 MWs will be commissioned byFebruary, 2009. One major issue that is critical for expediting the progress of the project and toachieve financial closure is allocation of coal linkages.The 1,000 MWs Karcham Wangtoo Hydro Electric Project (HEP) in Himachal will becommissioned by December, 2011. Equity tie-up is the main outstanding issue. PPA andtransmission scheme are also to be finalised.The huge Reliance-led Dadri gas-based 3,500 MW project in Uttar Pradesh will be completed in2008-09. A major issue that is critical to the progress of the project and to achieve financialclosure is tie-up for supply of gas.
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The coal based 1000MW TPP at Vile, Maharashtra, is to be completed by 2009-10. The EPC Bidon ICB Route is the major issue crucial to the project to achieve financial closure.The gas-based GPEC-II 1,050 MW power plant in Gujarat is to be completed in October, 2007.EPC, PPA and FSA are the major pending issues.Gujarat Hazira CCPP (Gas) 1,500 MWs Module-I will be done by December 31, 2007 andModule-II by December 31, 2008. PPA, fuel supply agreement and evacuation of power are themain outstanding issues.For the 500 MW Vizag Thermal Power Project near Visakhapatnam, Andhra Pradesh, to becompleted by December, 2007, the one major issue critical for expediting the progress of the project and to achieve financial closure is finalisation of PPA with PTC.The 1000 MW Kattupalli in Tamil Nadu will be completed in September, 2008. Its two major outstanding issues are finalisation of PPA, and equity tie-up.The 567 MW Rosa Power Project near Singrauli in UP, which will be commissioned byDecember 7, 2008, has to sort out sourcing of coal.In the long run, the Minister said, in the country's private sector the total capacity addition will be about 15,000 MWs. There are at least 25 power projects which have a cumulative power  production worth Rs 60,000 crore. ''Most of them are on the verge of financial closure,'' Power Minister P M Sayeed told UNI. Brushing aside any shortcoming in the private sector'scontribution to the country, Sayeed said, ''For viable projects finance is not a problem''.Electric power continues to remain one of the major concerns with a vast demand-supply gap,especially in rural India which lacks access to electricity.The current Tenth Plan is expected to accrue much larger investment from both the public and private sectors in generation, transmission and distribution.However the June, 2005 quarter showed mixed performance by the power companies, big firmslike Reliance and Tata Power posting less than expectations. However NTPC has been anexception in performance.The power equipment manufactures witnessed growth due to increase in demand mainly fromthe power industry. Companies, especially in the power equipment and EPC contracts business,would continue to surge on account of increasing demand from the power industries.These include ABB, KEC International and Kalpataru Power -- which saw the topline surge bymore than 25 per cent. While the topline for generation and distribution companies like REL andTPC remained flat.Another key feature that has emerged recently is the inter-state trading of electricity regulated bythe CERC with a clutch of private players like Reliance Energy, Tata Power Trading Company,Global Energy Ltd, GMR Energy, Lanco Group, etc. in the fray.The progress in this sector is yet to pick up with trades in power amounting to just 2.5 per cent of country’s existing power consumption. The market is still in its nascent stage but with a huge potential.For the quarter ended June 30, 2005 incomes and exceptional items boosted bottomline growthespecially for companies like TPC, REL and PTC, which would otherwise have dragged down profitability. |Read more Finance news.| Neyveli Lignite and Kalpataru Power recorded a huge surge of more than 100 per cent in their  bottomlines. Growth for Neyveli Lignite was mainly due to increase in revenues and a huge
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