National Hydroelectric Power Corporation (NHPC) is planning to set up a 600 MW solar power project at the Koyna hydel power complex in Maharashtra as part of an initiative to expand its solar portfolio. Various departments are currently carrying out the feasibility and technical and financial viability studies.
Tata Power Renewable Energy has won a solar grid connected photovoltaic project of 30 MW in Maharashtra. The projects have been awarded under the Jawaharlal Nehru National Solar Mission (JNNSM) Phase -II Batch-III Tranche-1 under State Specific Bundling Scheme.
Siemens has bagged an order worth 130 million euro (over Rs 978 crore) to set up a high voltage direct current (HVDC) link to connect power supply networks of India and Bangladesh. The power link is scheduled to come on line in the second half of 2018.
The Ministry of New and Renewable Energy plans to set up grid-connected 1,000 MW wind energy projects which will supply power at price discovered through competitive bidding. The ministry has invited public comments by 24 June on the draft guidelines for implementation of the scheme.
Tata Power has signed an agreement with Welspun Energy Pvt Ltd to acquire its green energy portfolio for Rs. 10,000 crore ($1.4 billion) approximately. Tata Power Renewable Energy has signed share purchase agreement to buy Welspun Renewable Energy's 1.1 GW renewable portfolio. This would be the largest solar M&A in the country and also among the largest such renewable buyout in the whole of Asia.
According to BP Statistical Review of World Energy, India has surpassed Japan to become the world's third largest oil consumer, with its oil demand galloping 8.1 percent in 2015. With demand of 4.1 million barrels per day, India is the third largest consumer behind US (19.39 million bpd) and China (11.96million bpd). India accounted for 4.5 percent of world oil consumption in 2015.
Petrol price is hiked from 1 June, 2016 by INR 2.58 a litre and diesel by INR 2.26 per litre, the second increase in rates this month. In Delhi, petrol will cost INR 65.60 per litre while diesel will cost INR 53.93 per litre.
Coal India Limited has approved revision of weighted average coal prices by 6.2 percent increase over the current price. This will be applicable to all subsidiaries of Coal India for both regulated and non-regulated sectors.
Energy Efficient Services Ltd (EESL), a joint venture of NTPC, PFC, REC and Power Grid, plans to go public in the next 2 to 3 years and expand operations globally. The company plans to raise $1 billion through overseas bonds and domestic borrowings.