SHIMLA: Suneel Grover Chief Engineer HPSEB has been appointed as Managing Director HP State Load Despatch Authority, an apex body, by the Himachal Government against a newly created post for a period of one year which can be further extended by one year. Suneel Grover graduated from Thapar University Patiala and did post graduation from IIT Roorkee and joined HPSEB in 1983.He represented India and Himachal in...
New Delhi: Reserve Bank of India did not attend the first meeting of the empowered committee for resolution of stressed power assets held on Friday, sources said. The meeting chaired by Cabinet secretary P K Sinha discussed the stress factors in the first meeting and the series of meetings will continue, a source said. The power ministry had on Wednesday asked RBI&...
The Allahabad High Court on Monday dismissed a plea from private power producers seeking relief from an RBI diktat to banks to take cognisance of a stressed loan if repayments were missed even by a day. The RBI decision, of February 12, requires banks to complete insolvency resolution proceedings within 180 days of defaults. Monday also marked the deadline for several cases in wh...
The central government is all set to rescue 34 loss-making power plants include 32 thermal plants owned by the private companies and two of the public sector. The situation has deteriorated to the extend that these private thermal plants with the commissioned capacity of 24,405 MW, are owing an outstanding debt of Rs 1.8 lakh crore and on the verge of being classified as NPAs. With a view to help their industrialists...
New Delhi: Ruling out invoking of exceptional powers to issue directions to RBI, a top finance ministry official said today that the central bank should take a pragmatic view on resolving stressed assets in the power sector. The Allahabad High Court has turned down a petition by independent power produces challenging the February 12 circular of the Reserve Bank of India which specified that if ...
Electricity Act 2003 Act replaced the Electricity (Supply) Act 1948 notwithstanding the seminal role played by the Electricity (Supply) Act of 1948. The 1948’ Act had transformed the nature and the outreach of the power sector by integrating the erstwhile licensees with limited operations into State Electricity Boards that became the prime movers of rural electrification and the resultant all round economic dev...
Booklet - Private thermal power generation - boon or bane? has been written By K Ashok Rao.. Er K Ashok Rao is getting 1000 copies printed. Please intimate the number of booklet required to your constituent so that it is posted to your address. All are requested to circulate the booklet to maximum number of persons. Stressed assets in power sector is a burning topic today and we should tell...
NEW DELHI: The empowered committee headed by cabinet secretary PK Sinha will meet for the first time on Friday to explore ushering in key reforms in the sector plagued with stressed assets. Some radical proposals likely to be discussed include doing away with the requirement of power generation plants to have power purchase tie-ups to get coal and a payment security mechanism for timely r...
Despite all their trials and tribulations, private sector power companies are making a beeline for stressed power plants. JSW Energy Ltd and a Tata Power Co. Ltd-backed fund are vying for a power plant. Adani Power Ltd, its poor financial condition notwithstanding, too has thrown its hat into the ring, an analyst said on condition of anonymity. Reports also indicate that other private sector groups such as Vedanta...
It has been observed that many of the NTPC 210 MW units working under control of central government are still running and not decommissioned till this date. However on the other hand many of the 210 mw sets under control of Maharashtra government (managed by Mahagenco) are decommissioned from last few years one by one. 2. As per recent developments it is learnt that Nashik unit no.3, 4, 5 (210 x 3 MW) are proposed...