India

The company’s profit after tax also jumped by 17.52% to Rs 52.39 crore.

Areva T&  has bagged a Rs 200 crore contract from state-owned PowerGrid Corp for setting up a transmission network at Bareilly, in Uttar Pradesh.

Voith Hydro will supply turbines, generators and electrical and mechanical auxiliaries for Sikkim’s Rongnichu  Hydro-Electric Project.

Power Grid Corporation is exploring the possibility of setting up a ’smart grid’ on pilot basis to reduce transmission and distribution loss.

The US Government-sponsored banks that have helped fund the takeoff of India’s fledgling solar industry may soon move to withdraw their support, according to an official at the Overseas Private Investment Corporation (OPIC). Peter Ballinger, OPIC’s director, has said that the agency is rapidly approaching its lending limit for PV projects in India and opined that multilateral lenders like the Asian Development Bank (ADB) and the World Bank (WB) could shortly be forced to reassess their aid packages. The ADB, WB and OPIC were among the first to invest in developing solar in India. However, such has been the success of the investment programme that projects in the country now account for 8.5% of OPIC’s total loan book, nearing its 10% limit for any one country. India hopes to complete its first round of large-scale PV installations by January, and is planning to hold an auction for a further 350MW of projects later this month. In October Moser Baer installed India’s largest system to date, a 30MW system in the state of Gujarat, and national capacity now stands at 125MW. Ballinger believes that, with the industry maturing, the time is right for development banks to start withdrawing support. “We’re supposed to be catalytic for new industries by providing financing at an early stage until more traditional lenders get comfortable with the risks of new technologies and businesses they’re unfamiliar with,” he said. “It may be time for commercial banks to step in to India’s solar sector now that it appears to be ramping up."  

The Overseas Private Investment Corp nears its limit for lending to projects in India, and other banks may follow suit.

The coal handling plant of the first unit of Mettur thermal is likely to be ready for coal bunkering by the end of December 2011.

NHPC has now approved an interest bearing advance of Rs 10 crore against a secured bank guarantee to Hindustan Construction Company, contractor of its Uri-II hydroelectric project. Thge latter is experiencing a cash flow crunch. Further, NHPC`s board of directors are in the process of considering an additional interest bearing advance of Rs 15 crore to HCC.

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.