Staff Reporter

World Bank has allocated loans partly to help Indonesia build power plants.

TNB has been ordered to pay SEV US$11.6 million , the latter claimed as outstanding capacity payments. Segari Energy Ventures Bhd or SEV is a subsidiary of Malakoff Corp. Berhad.

Construction at the second unit of the Changjiang nuclear power plant in the province of Hainan has officially started.

After another year of fierce struggle and competition, powerful figures from the energy sector proved themselves to be at the top of their game as they were recognized in the 6th Asian Power Awards. Various companies who gathered at the Ritz Carlton Hotel received recognition for their outstanding performance and contribution.

TeaM Energy Corp. is in talks with San Miguel Aboitiz for a US 1.5-billion expansion program for the Sual and Pagbilao coal facilities.

Crossing Automation has completed installation of a material tracking system for a Taiwanese solar cell manufacturer. It consists of its Auto ID and automated tracking system software, Smart Storage asset tracking and Smart Storage racks. As part of the project, Crossing developed customized ATS software for solar cell carriers throughout the fab, carrier racks were incorporated with additional sensors to ensure proper placement on the rack, and the solar rack design and the layout itself was developed with input from the customer.

CR Power further established new funding channel and lowered its funding costs via successfully issuing offshore corporate bond. The corporate bonds are valued at RMB2.0 billion or US$188.79 million. Proceeds will be used to invest in the development and expansion of power generation projects and supplement general working capital. The Issuance is divided into two tranches: 3-year and 5-year, each with issue size of RMB 1.0 billion or US$94.3 million, and coupon rate fixed at 2.90 per cent and 3.75 per cent respectively. Coupons are paid semi-annually in arrears with no amortization during the life of the bond. After issuing onshore RMB corporate bond and US$ senior notes earlier this year, through successfully issuing offshore RMB corporate bond, CR Power further expanded its investors base, which is beneficial for its long-term development. Furthermore, the Issuance allows CR Power to lock in and lower long-term funding costs, hence mitigating the impact of any potential future interest rate hike.  

Electro Zavod has set up a new integrated manufacturing facility in West Bengal.

NVVN will award contracts under Jawaharlal Nehru Solar Mission Phase-I to those who would provide maximum discount on CERC tariff. NTPC Vidyut Vyapar Nigam or NVVN plans to sign power purchase agreement with selected parties by the end of January.

NTPC will hold on to its projects in Uttarakhand despite a series of setback.

The total output for Ca Mau 1 and Ca Mau 2 power plants has reached 7.94 billion KW. It exceeded Ca Mau Petrovietnam Power Company’s 7.6 billion KW target by 4 per cent with revenues has reaching US$337.8 million.

The construction site of Son La hydropower plant has officially been put into no load operation.

NTPC has geared itself to become a 75000 MW company by 2017 and the company has core competency to achieve this feat. By their so-called “XI Plan period” the company aims to put about 13000 MW capacity on stream contributing to the Govt. of India’s plans of adding 68000 MW by that time. This was stated by Shri Arup Roy Choudhury, Chairman and Managing Director, NTPC.

To better serve customers in the region, Chromalloy has opened a new office in Chaoyang District, Beijing and has also launched its website in Chinese.

For RMB48mln, REA Group will acquire Nantong Huaishuo Investment Co Ltd which owns 49% of the wind farm developer, Datang Baotou Asia Electricity Co Ltd.

IBM has signed a research collaboration agreement with IIT Madras and IIT Kharagpur to develop open system designs for smarter power grids.