Unfazed by opposition's criticism ofpower purchase at higher rates, UP cabinet on Tuesday, gave its nod to buying over 2100 Mw of power from three companies for 25 years at a rate ranging between Rs 5.58 per unit and Rs 5.84 per unit. The cabinet also gave a year's extension to work contract of a Spanish transmission company, Isolux Corsan, engaged in construction of transmission lines to evacuate power from three upcoming plants in Uttar Pradesh. The purchase of power from three companies-KSK Mahanadi, PTC India Limited and Krishnapattanam- happens to come through under the case-1 bidding process that envisages procurement of 6000 Mw of power for a period of 25 years, beginning 2016 up to 2042. Chief secretary Jawed Usmani said while 1000 Mw of power would be purchased from KSK Mahanadi, PTC will wheel out 361 Mw to the state. Likewise, the Krishnapattanam power corporation will be providing
Tata Power, nation's largest private power producer, has said the electricity regulator CERC's order for granting compensatory tariff for the company's Mundra project is likely to come up by month-end.
"CERC has finished the hearings and Maharashtra Electricity Regulatory Commission ( MERC) and has just submitted their affidavit about few days back on November 26 and now they have given time for us to file an affidavit to give our rejoinder on that affidavit," Tata Power Managing Director Anil Sardana told CNBC-TV 18.
He said, "After that perhaps they will take another two-three weeks. So, I am hoping that by end of December we could hope for the order." Central Electricity Regulatory Commission (CERC), in April this year, allowed the private utility to raise power tariffs from its 4,000-MW Mundra ultra mega power project in Gujarat, to compensate for an unexpected increase in coal cost.
The Chandigarh Renewal Energy Science and Technology Promotion Society’s (CREST) proposal to sell solar power to the UT electricity department, which had hit a roadblock last month, is back on track. To clear the decks, CREST — which is executing rooftop solar photovoltaic power (SPV)
projects on behalf of UT department of science and technology — has agreed to make amendments in the revised draft proposal regardingt he sale of power generated from 10 rooftop SPV units. The revised proposal has been sent to the electricity department and will soon be submitted before the Joint Electricity Regulatory Commission (JERC). Last month, the project had received a blow after the electricity department had filed objections against the draft proposal CREST had submitted to JERC. In its petition before JERC, CREST had sought determination of preferential tariff under net metering for rooftop SPV projects and for sale of such power to the UT electricity department
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Mumbai: Tata Cleantech Capital Ltd may fund as much as Rs.2,500 crore ($401 million) of renewable and energy-efficiency projects in India as costs for coal-based power prompt companies to turn to alternatives.