India

Essar Energy expects to complete three power projects by March next year that would increase its total generation capacity to 4,510 Mw.

Gujarat is pushing for new feed-in tariff rates covering PV projects commissioned from January 29, 2012 until March 31, 2015.

Uttarakhand Jal Vidyut Nigam Limiteda has been granted the techno economic clearance fo rits120 MW Vyasi hydro electric project from the Central Electricity Authority.

India boosted its wind power maintenance technology by creating lubricants and sealants that helps windmilsl function properly.

Nepal and Czech Republic have agreed to form a joint economic council to boost bilateral trade and investment opportunities between the two countries, including electricity. During the meeting with Finance Minister Barsha Man Pun Thurday at his office, the visiting Czech assistant minister for Environment Ivo Hlavac agreed on forming a joint economic council. Formation of joint economic council is a good to start for joint projects, he said, showing interest on investment on electricity, water and sanitation management of big cities like Kathmandu. Pun urged the visiting Czech entrepreneurs to invest in Nepal with out any fear. “Nepal is ready to protect foreign investments,” he said, adding that the country is moving towards stability as yesterday the major parties signed a peace deal. “Nepal is gradually heading towards economic development.”

Atomic Energy Commission, Dr Sreekumar Banerjee, stressed the importance to generate greater awareness among local residents that nuke plants do not have adverse health effects.

Rural Electrification Corp posted an increase in net profit at Rs 622.87 crore for the three months to September from Rs 618.21 crore in the same period last year.

GVK Power's profit after tax went down 11 percent to Rs 37.92 crore from Rs 42.81 crore in the three months to September 2011.

Sunborne Energy will build a 50MW solar thermal power project in Andhra Pradesh, India in partnership with Kosla Ventures and General Catalyst Partners, from which it secured $25m in funding.

More than one third of the PV projects handed out in India’s first national auction look set to miss their January completion deadline, according to an official at the Indian Renewable Energy Development Agency.

Adani Power Limited will wrap up all the critical activities of the 660 MW unit-I of the Tiroda Thermal Power Plant by January next year.

Expensive Indonesian coal may cost Tata Power to lose Rs 500 crore in the first year of commissioning of its 4,000-Mw ultra mega project at Mundra, in Gujarat.

India plans to have two gigawatts of solar power generation capacity by March 2013.

Renewable Energy Corporation said it was unlikely to set up its manufacturing presence in Indiadue to unfavorable government policies.

Blame it on the 8.7% decline in the rupee.

Essar Energy Monday said it expects to complete three power projects by March next year that would increase its total generation capacity to 4,510 Mw. The company, a part of Ruias-led conglomerate Essar group, is also planning to float a sponsored ADR programme this year that would allow American investors to trade in Essar Energy shares. London-listed Essar Energy also has interests in oil and gas and owns the Vadinar oil refinery in Gujarat. “In Power, we expect to commission three projects, Mahan I, Salaya I and Vadinar P2, by end March 2012 which will increase our total generation capacity by 2,910 MW to 4,510 MW,” Essar Energy said in its interim management statement for the period ended September 30. “We expect to complete a further 7 power generation projects by the end of March 2014 to take our total generation capacity to 9,670 MW,” it noted. The 1,200 MW Salaya I and 510 MW Vadinar P2 projects are located in Gujarat while Mahan I is in Madhya Pradesh. According to the statement, the company is looking to initiate American Depository Receipt (ADR) programme, for which BNY Mellon has been appointed as the depository bank. “To further enhance the ability of a wide range of institutions to invest in Essar Energy, the company has decided to establish a Level 1 (Over-The-Counter) sponsored ADR programme. “… it is expected that the ADR programme will be in place before the end of 2011, opening up a new source of potential investors in Essar Energy,” it said. When contacted, an Essar spokesperson said the proposed ADR programme is just to allow US investors to trade in Essar Energy shares and that there would not be any kind of share issue or raising capital. As on September, Essar Energy’s net debt stood at USD 5,507 million, which is in line with its plans.