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Medco Power sold a 51 percent stake to Saratoga Capital to help fund its plan to quadruple its power generating ability in the next four years.

India plans to start up a Russian-built nuclear power plant within weeks, Prime Minister Manmohan Singh said on Friday, expressing confidence that the government can ease safety concerns that have prompted protests by local residents. After talks in Moscow with Russian President Dmitry Medvedev, whose country is eager to build more nuclear power plants abroad, Singh said the first two reactors at the Kudankulam plant were close to being activated. The power station in the southern state of Tamil Nadu is one of several planned power projects that are seen as vital to plugging huge electricity shortages that have damaged economic growth. However, protests by local people against the power station gathered pace after the Fukushima accident in Japan in March. "We are confident that we will be able to persuade some of these people that their concerns are adequately taken care of, that our nuclear plants are safe and sound and there is nothing to worry about with regards to their safety," Singh said. "I am therefore confident that in a couple of weeks we should be able to go ahead with operationalising Kudankulam, and thereafter, by a period of six months, Kudankulam 2." The two countries have been in talks to build two more reactors at Kudankulam. Russia's Itar-Tass news agency cited the head of state nuclear power firm Rosatom, Sergei Kiriyenko, as saying Russia would provide India with a multi-billion dollar loan for the project, though no agreement was signed on Friday. Russia is keen to exploit its nuclear know-how, having already built two reactors in China and one in Iran that was plugged into the network in September. Rising tensions over Tehran's nuclear programme were on the leaders' agenda. Both countries urged Iran to cooperate with U.N. efforts to ensure it was not seeking nuclear arms, Russia and India said in a statement, but agreed that sanctions could be counterproductive. here

State-owned power major NTPC is going to set up its biggest solar (green) power station of 50 megawatts next year at an estimated cost of around Rs 700 crore in the electricity-starved state of Madhya Pradesh. “We are setting up our biggest solar power project at an estimated cost of around Rs 700 crore in Rajgarh district next year. NTPC will sell the entire power generated from this project to Madhya Pradesh,” NTPC official said today. “The government will soon ink a power purchase agreement with NTPC to procure energy from this project,” the official said. According to NTPC officials, it has kick-started the process of setting up 5 Mw and 15 Mw solar stations in Orissa, Himachal Pradesh and Andhra Pradesh, but the company’s biggest non-conventional energy project would be set up in Madhya Pradesh. “In all, we are working on generating over 100-Mw solar power energy projects across the country right now,” they said.

Looks like it will stay at HK$15.3 billion for now.

Japan's utilities burned 200,000 bpd more crude and 136,000 bpd more low-sulphur fuel oil in October than a year earlier to compensate for the loss of nuclear power capacity.

The TEPCO-Nippon Steel joint venture plans to test start a new combined-cycle gas-fired unit in April.

Indian utility Tata Power has issued a rare term tender seeking up to about 130,000 tonnes of mostly low-sulphur (LSFO) fuel oil in up to five deliveries starting next month, traders said on Thursday. The tender, which follows another rare term requirement by Taiwan's CPC for more than 700,000 tonnes, is expected to keep sentiment for LSFO bullish, holding premiums for 0.3-percent sulphur lots at strong levels of around $100.00 a tonne to Singapore spot quotes. The tender closes on Dec. 19 and is valid until Dec. 23. It is for the delivery of up to five 25,000-tonne lots of 0.3 percent sulphur and 1,200-tonne parcels of high-sulphur between January and September to Mumbai on a cost-and-freight (C&F) basis. "The LSFO market has been strong since July, stemming from post-Fukushima Japan, and exacerbated by Taiwan needing more than their usual volumes as well," a Singapore-based Asian trader said. "Tata's requirement, though not at larger volumes than they usually take in a year, will further fan the bullish sentiment as they have departed from their usual practice of buying spot. This signals that they may see the market strengthening and want to lock in lower premiums." The first parcel is slated for delivery on Jan. 21-30, with deliveries for the remaining cargoes to be declared 40 days before the delivery dates. Tata typically buys 4-6 cargoes of 25,000-30,000 tonnes each annually from Singapore-based sellers. Sentiment in the LSFO market has been bullish since July, driven by strong demand from Japan in the wake of the March earthquake that crippled much of its power-generation capacity, due to damage to its nuclear plants. Its ravenous demand went beyond the country's peak summer period, with weekly import LSFO volumes averaging about 115,000 tonnes since July, the highest week-average levels since 2006 and up from last year's average of about 32,000 tonnes, official data show. Sentiment was further boosted by CPC's rare term tender for nine 80,000-tonne cargoes for delivery between April and December next year, which closed on Tuesday and will remain valid till Friday. The Taiwanese refiner is also seeking 40,000 tonnes of LSFO, for Feb. 1-29 delivery, via a spot tender that also includes 40,000 tonnes of HSFO, which closes next Tuesday. Premiums are also boosted by the global reduction of sulphur levels for marine fuels to 3.5 percent from Jan. 1, down from 4.0 percent now, by the International Maritime Organisation (IMO).  

The new park is expected to supply power to nearly 4,000 households.

Tata Power has secured funding for its 25-MW solar project in Gujarat through a consortium .

GMR Group's combined cycle power plant in Andhra Pradesh has been synchronised to the state’s power grid.

NTPC has inked a pact with EGCB to provide operation and maintenance services for a power plant in Bangladesh.

So how much will each company finance out of that amount?

India expressed confidence in generating surplus power for export as more power equipment firms prepare to set up units. “We had only Bharat Heavy Electricals Ltd. Now, six big companies are coming in joint ventures and the country will not face any power problem. I am confident that the country will export power to other countries,” said Union Power Minister Sushilkumar Shinde. He pointed out that while the government of India has kept a huge target of adding power generation capacity of 78,777 megawatt for the 11th Five Year Plan from 2007 to 12, there are not many equipment manufacturing companies.

Bangaldesh aims to ensure electricity supply for 60 % of its citizens by 2013.