The Rajasthan government has signed a joint venture agreement with Hindustan Petroleum Corporation Ltd (HPCL) for the upcoming mega petroleum refinery in Barmer at a cost of Rs 43,129 crore. Under the agreement, HPCL will hold 74% stake in the joint venture, HPCL Rajasthan Refinery Ltd, while the state government will hold the rest 26%.
Sasan captive coal mine of Reliance Power has been awarded the National Safety Award (Mines) for 2013 and 2014. Sasan Mine was awarded for its commendable safe work environment and safety practices.
India and Russia have signed three contracts for constructing Units 5 and 6 for the Kudankulam Nuclear Power Plant (NPP). These contracts were signed between ASE Group of Companies (a part of ROSATOM State Atomic Energy Corporation) and the Nuclear Power Corporation of India (NPCIL).
Oil and Natural Gas Corp (ONGC) has won government's approval for acquisition of Gujarat State Petroleum Corp's entire 80% holding in a KG basin gas block for INR 7,738 crore. In December 2016, ONGC had agreed to buy entire 80% interest of GSPC along with operatorship rights, in Deen Dayal West (DDW) gas field in Block KG-OSN-2001/3 in the Bay of Bengal for USD 995 million (INR 6,443 crore).
The government is planning to sell up to 25% stake in two PSUs - MSTC and NEEPCO through initial public offerings (IPOs). The government currently holds 89.85% stake in Metal Scrap Trading Corporation (MSTC) and the balance 10.15% is held by the members of the Steel Furnace Association of India and Ispat Industries Ltd.
The price of CNG in Delhi is hiked by Rs 1.11 per kg and that of piped cooking gas to households by 33 paise per unit (scm) to account for new tax rates under the GST. Indraprastha Gas Ltd announced the revision in the selling prices of Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) in NCT of Delhi, Noida, Greater Noida and
Coal India Limited (CIL) has invited applications from independent power producers to take part in the auction of coal linkages under the Scheme for Harnessing and Allocating Koyala Transparently in India (Shakti). Interested entities have to register on the website of auction firm MSTC Ltd on or before August 7, 2017.
Jakson Group is planning to set up a greenfield solar plant. It is investing Rs.650 to Rs.700 crore in a new plant in Gujarat that will have a capacity of 1,000 MW of solar modules and 250 MW of solar cells in three years.
Coal India Limited is planning to conduct auctions under government’s Shakti scheme for entering into long term coal supply contract with 12,000 MW of independent power producers that have long term power purchase agreements with state distribution companies but does not have coal supply contract.
The Union Cabinet chaired by the Prime Minister has given in-principle approval for state-run upstream Oil and Natural Gas Corporation (ONGC) to acquire the government's 51.11% stake in downstream refiner Hindustan Petroleum Corporation (HPCL). A 51.11% stake in HPCL is worth around Rs 30,000 crore.
HPCL is planning to invest Rs 61,000 crore over the next four years in expanding and upgrading its existing refining capacity to meet higher quality fuel norms. HPCL is upgrading both its Mumbai and Visakh refineries to produce fuel meeting Euro-VI emission norms.
Greenko has raised $1 billion on Monday via an overseas bond issue, making it Asia's largest green bond till date. It will also be the largest high yield corporate bond by a privately held company in the whole world. The company obtained over subscription one and half times higher than the actual size.
The government will is planning constitute a committee, headed by Prime Minister, to oversee implementation of the proposed National Energy Policy which aims to promote energy independence. The National Energy Policy, prepared by government think tank NITI Aayog after extensive consultations over the last one-and-a-half years, will replace the Integrated Energy Policy, and lay the road map for the government push aggressively towards clean energy and reduce fuel import.
Reliance Industries has pulled out of the last oil block it held in Peru, trimming its overseas assets to just two properties in Myanmar. In 2007, Reliance Exploration and Production (REP) DMCC was primarily set up for acquiring overseas assets.
Piramal Enterprises is shifting its key focus to non-conventional energy, billed as the most promising sector in a power-starved country, with its subsidiary Piramal Finance extending a Rs 700 crore credit line to Acme Solar Holdings.
Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, Shri Piyush Goyal has launched ‘MERIT app (Merit Order Despatch of Electricity for Rejuvenation of Income and Transparency)’ and the e-bidding portal for providing e-Bidding solution to States to select Independent Power Producers (IPPs) for procurement of power by transferring their domestic coal under the scheme of flexibility in utilization of domestic coal.
Tata Power Company, through its joint venture company Adjaristsqali Georgia LLC has completed the construction of its 187 MW Shuakhevi Hydro Power Project in Georgia. AGL, a joint venture with Norway's Clean Energy Invest AS and IFC InfraVentures, a member of the World Bank Group, started the construction of the project in 2013.