Calcutta, March 5: The Damodar Valley Corporation (DVC) has signed power purchase agreements with five electric supply companies of Karnataka. The thermal power utility will supply 450 megawatts to the state.
The bid to venture out of Bengal and Jharkhand will help the DVC to sell its surplus power and generate additional revenue through its distribution arm. According to the power purchase deals, the DVC will supply the power at rates set by the Central Electricity Regulatory Commission for 25 years.
Former DVC chairman R. N. Sen had earlier said the adoption of the Electricity Act, 2013, will enable the power entity to move beyond its command areas and explore opportunities in other parts of the country. It has been looking to sell its surplus power, particularly in the south, because of the demand from these states.
The DVC has a surplus power of around 1,000MW, both through its own
Former member of the Karnataka Electricity Regulatory Commission and legal expert Vishvanath Hiremath has been appointed chairman of the Rajasthan Electricity Regulatory Commission. Mr. Hiremath will take the oath on Thursday. Mr. Hiremath has notched up experience of about 30 years in the power sector. He headed the legal wing of Karnataka Power Transmission Corporation Ltd. as the Law Director. He handled the legal affairs of the KPTCL at a crucial time when power reforms were implemented in the State, with structural changes.He was also chief legal adviser to all five Escoms.
Greenko Group Plc (GKO), an Indian green-power developer backed by Singapore’s sovereign wealth fund, completed a 15-megawatt wind farm in southern Karnataka state. The 13 million-euro ($18 million) project in Mangalore will sell its output directly to a commercial customer in Bangalore under a 10-year contract, the Hyderabad-based developer said in a statement. It used 1.5-megawatt ReGen Powertech Pvt. turbines. Greenko, now with a capacity of 561 megawatts, expects to reach 700 megawatts by mid-2014, according to the
MUMBAI: The Mahagenco's 50 MW grid interactive solar project at Shirsuphal in Baramati will be the first of its kind and unique PPP model project in Indian Power sector, sources in the energy department said. It is based on revenue share basis for a period of 25 years and this is a totally new concept in Indian power sector. This PPP model is unique as even though the ownership of this project belongs to Mahagenco, it will not have to invest the entire amount but will get guaranteed revenue returns for a period of 25 years, the sources stated.
Finnish clean energy firm Fortum announced the appointment of Sanjay Aggarwal, formerly with Tata Power, as managing director of its India chapter on Wednesday (March 5). "There is a huge potential for Fortum in India," Aggarwal told Business Today. "The market has a unique, exponential need for sustainable and clean energy to power its industry." In 2013, Fortum's sales totalled EUR 6.1 billion and comparable operating profit was EUR 1.6 billion. The company is a global leader in the combined heat steam and power segment, or CHP, and has power and power distribution companies in many countries. The India chapter recently acquired a 5 MW solar power plant at Bhilwara, Rajasthan. Aggarwal said he intended to push for building a photo-voltaic (PV) solar portfolio and gain more experience in solar technologies and operating in the energy market. Fortum is also assessing growth opportunities in