Staff Reporter

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

Tata Power will order equipment for a $68 million solar project from three panel suppliers.

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.

Increased energy consumption can be expected for India to reach its target of 9% economic growth.

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.

The demand for energy, especially in Asia, is growing faster than in many developed regions of the world. Traditionally, power generation has relied on fossil fuels and hydroelectric applications. Nuclear energy, which also has developed over the last 50 years, is being introduced in new regions of the world while being phased out of others. All of these types of power plants are generally larger in scale, producing hundreds of megawatts. Traditionally, the main drivers for larger power plants have been higher efficiency and lower installation costs, but the way power projects are evaluated is becoming increasingly complex. With both “flexibility” and the integration of renewable energy becoming increasingly important, more efficient natural gas-fired distributed power applications are growing in popularity.

A draft nuclear power safety regulation is now ready to be sent to the State Council after minor adjustments.

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.

Bangladesh Prime Minister Sheikh Hasina proposed a cooperation with Myanmar to produce hydropower during bilateral talks between two countries.

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