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Energy & Power


Creditors to Essar Steel are weighing three options, one of which might be put before an appellate bankruptcy court on Monday, as they try to draw to a close the insolvency proceedings that have dragged on for about two years. The options include requiring ArcelorMittal to pay up the whole amount and keep the contentious payments to operational creditors …

Wind developers have expressed interest over the new land policy for renewable energy announced by Gujarat about a month ago as it does not take possession of a power purchase agreement(PPA) mandatory while applying for land to set up a project in the state. They fear that without such a provision, land could get locked …

EverSource Capital along with National Investment and Infrastructure Fund of India (NIIF) have partnered U.K. government’s CDC Group to invest $330 million in Ayana Renewable Power (Ayana), the renewable energy platform founded by CDC. EverSource Capital, a joint venture between Everstone Capital and Lightsource BP, manages Green Growth Equity Fund (GGEF) that has NIIF and …

Auctions for commercial coal mining may not take place soon as the country is entering the election mode, stated a senior government official. The statement comes amid resistance from the trade unions operating in the coal sector against commercial coal mining. “With the nation almost entering the election mode, I think it will be difficult …

Developers who won solar projects just before safeguard duty on solar panels and modules was imposed on July 30 last year have been greatly witnessed by an order passed by Maharashtra’s power regulator on Friday, maintaining that such duty amounted to a “change of law” and that developers should be adequately compensated for it. Tata …

State-owned oil firms’ capital expenditure has hit a four-year low with PSUs like ONGC and IOC planning to invest Rs 93,693 crore in oil and gas exploration, refining and petrochemicals in the 2019-20 fiscal year. The capital expenditure outlay of Oil and Natural Gas Corp (ONGC), Indian Oil Corp (IOC), GAIL (India) Ltd, Bharat Petroleum …

Women and children walk kilometers every day in search for water in a crowded, downtrodden district of Pakistan’s financial capital, Karachi — a scene repeated in cities throughout the country. Across the border in India, government research indicates about three-quarters of people don’t have potable water at home and 70 percent of the country’s water …

JSW chairman Sajjan Jindal’s remarks in Davos that he’s still interested in Essar Steel and that Ruias should be given a chance evoked a strong riposte from ArcelorMittal, the highest bidder for the assets under the insolvency law. This sends a negative signal about the “certainty of India as an investment destination,” ArcelorMittal said, without …

Related about coal projects worth over Rs 11,000 crores facing delays, the Centre has asked Coal India and NLC India Ltd to identify the reasons behind it and submit a report, an official said. The issue came up during a recent meeting to review projects worth Rs 35,000 crores at a time when India is …

Torrent group will invest Rs 10,000 crores in renewable energy, power, and gas distribution businesses in Gujarat, its Chairman Sudhir Mehta confirmed Friday. The group has till now invested Rs 30,000 crore in the state in power and pharmaceutical sectors. “Today we are committing further investment of more than Rs 10,000 crores across renewable energy, …

Vegetable oil imports rose by 11 percent last month to over 12 lakh tonne, edible oil industry body SEA stated on Tuesday and predicted that a rise in inward shipments of refined palm oil on customs duty cut that could affect domestic farmers and refiners. “Import of vegetable oils (comprising edible and non-edible oils) during …

The CBI has charged senior officers of the public sector undertaking Bharat Coking Coal Limited (BCCL) for stating siphoning off Rs. 22.16 crore through illegal payments routed through a Dhanbad-based company, officials said on Friday. Central Bureau of Investigation (CBI) and BCCL officials organized a surprise check in Dhanbad’s Bastacolla in March last year to …