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Vikas Srivastava

Articles By Vikas Srivastava

229 Articles

Three oil PSUs to set up dozen ethanol plants at cost of Rs 7,000 crore: Oil secretary

Restrictions on inter-state movement of ethanol due to non-implementation of the amended provisions of Industries (Development & Regulation) Act, 1951, by all the states, is the other big challenge. So far, only 14 states ha

Banks have been wary of funding the sugar mills in the past due to their weak balance sheets, however, now with the addition of rice, maize and other grains, the availability of ethanol would become lot easier, making funding of ethanol capacity building a lot more attractive option, said a senior PSU official. (Representative image/ File photo)

Solar developers step up panel imports as removal of safeguard duty cuts costs

Close to 3000 MW of ground mounted and around 300 MW of rooftop solar projects that were held-up have moved ahead, with companies placing orders with panel suppliers from China, South Korea, Vietnam and Taiwan for the next qu

Officials believe the drop would have been significantly higher if the freight cost for containers had not doubled in the last nine month.

Regulators feel high return on equity jacks up power tariffs

However, for the RoEs to reduce at the national level the decision will have to be made at the CERC level which can then be followed by State Electricity Regulatory Commissions.

The ROEs have since come down, but continue to jack up tariffs. Now that the prime lending rate and the 10 year G-Secs rates have fallen substantially, there is a pressing need to lower the RoE build into tariff determination, the analysts feel.

Interview: We want to be a major player in transmission business, says Praveer Sinha, MD & CEO, Tata Power

There is close to Rs 4 lakh crore worth of opportunity in the transmission space in the next 10 years with the government of India targeting 450 GW renewable energy capacity by 2030.

The June quarter not only witnessed the impact of the second wave but also heavy cyclones on both the east and west coast of our country.

Tamil Nadu power utility told to compensate solar units

The state power utility’s move is seen to be in violation of the Section 86 (e) of the Electricity Act 2003 and state’s own solar energy policy unveiled in 2012.

JSW Energy plans recast, to separate renewables business

The company’s low leverage position has enabled it to undertake a Rs 25,000 crore capacity expansion by 2025, which will be followed by another Rs 45,000 crore investments in the next five years to 2030.

IndiGrid draws up plan to buy solar assets worth up to Rs 5,000 crore

“Our net debt to AUM as of June 30, 2021, stood at around 58%, which is well below the 70% cap prescribed under the Sebi regulations,” Shah said.

In Q1FY22, IndiGrid’s net revenue and operating profit grew 53% each year-on-year to Rs 554 crore and Rs 504 crore, respectively. The earnings were supported by acquisitions and strong operational performance.

More than 3 GW solar projects held up due to rising module prices: Industry

The rising prices and net metering cap have even impacted the ground-mounted players, with many taking a cut and working on margins as low as 10% compared with a high of 16% a few years ago.

More than 3 GW solar projects held up due to rising module prices: Industry

Hydrogen Fuel Cell Technology: Hurdles remain in the way of mass use

Among other issues, there is a need to reduce the cost of hydrogen fuel cells if the promise of technology is to be realised

RInfra in talks with Cube Highways, Brookfield, Apollo Global for sale of 5 road assets

Together, the five roads are expected to fetch around Rs 3,250 crore, which will help the company reduce its consolidated debt of Rs 14,260 crore as of March 2021.

While CDPQ and Brookfield declined to comment, an email to Apollo Global and message to Cube Highways did not elicit any response.

TVS Motor, M&M start pilot project in Pune for pure ethanol-based 2-wheelers

Two pilot projects will check the viability of launching E100 vehicles given the consistent supply of ethanol for a month is not clear. If it can be sustained on an yearly basis will be tested.

Mahindra and TVS to work on Ethanol two-wheelers

CubicPV plans $1.1 billion investment in solar wafer, cells manufacturing under PLI scheme

The company is in talks with the Indian government to participate in the performance linked incentives (PLI) scheme for solar equipment manufacturers, Frank Van Mierlo, CEO of CubicPV, told FE.

The company is now in process of reducing the time to seven seconds, Mierlo said.

With debt pared, on track to achieve Rs 70k-crore renewables target by 2030: Prashant Jain, Joint MD, JSW Energy

We reduced our debt by Rs 2,700 crore in FY21 to Rs 8,907 crore and improved our leverage substantially. Our net debt to equity is the lowest in the industry at 0.43 times compared to five times of the other industry players.

Our cash and cash equivalent is Rs 2,000 crore as of March 31, 2021.

IGX starts discovering benchmark pricing for gas in India

Rajesh Kumar Mediratta, director at IGX told FE that after starting with a very small quantity of 1,500 mmBtu in December last year, the trading gained momentum and now the volume on average is around 100,000 mmBtu of gas eve

As more and more gas fields get commissioned in India from RIL, ONGC and Cairn, we expect the volumes to increase and benchmark to become a reality soon, he said.

Solar equipment manufacturing: More clarity is needed on the agenda

Despite govt measures, the salience of solar imports may persist in near term, say experts, stressing the need for incentives for the MSME sub-sector

solar energy

IEX sees good demand from cross-border customers

The Indian Energy Exchange traded 6540 MU of electricity volume in May 2021, up 9% y-o-y amidst Covid-19 lockdown as well the cyclonic disturbances that affected the overall power demand in the country.

Refinery throughput cut to 86% of capacity after second Covid wave: N Vijayagopal, director of finance, BPCL

Given such kind of demand destruction, we have reduced the throughput to 86% of the name plate capacity compared to 105% achieved in January-March quarter of 2021.

We were very aggressive in adding retail units over the last two years (FY20 and FY21) given our requirement to capture rural markets which were out of our ambit.

BPCL to cut crude imports from West Asia to 50% from 65%

Bharat Petroleum Corporation (BPCL), a major public sector oil refiner, plans to further reduce its dependence on crude oil from West Asia to 50% from 65% at present as the company plans to increase sourcing from countries in

BPCL

Renewable energy: Meeting RE target an uphill task

Covid-19 has been the latest reason for capacity addition lacking the required momentum, with 83 GW still to be installed by December next year

Power transmission

Shell Energy to take part in renewable, gas-based power value chain for grid stability

Shell Energy Asia plans to participate in the power value chain in India to resolve the issues of renewable intermittency by using the idle gas-based power assets.

shell energy

‘Discoms must use cost-effective model to set up smart meters’

At present India loses around 30% of its power generated due to transmission, distribution, billing generation and collection inefficiencies.

Anil Rawal, CEO of IntelliSmart

Throughput back to pre-Covid level, further rise to rely on demand: N Vijayagopal, director finance, BPCL

The product cracks in Q3FY21 declined by close to $10 per barrel for petrol and diesel. For Petrol it fell to $2.91 per barrel compared with $8.9/ barrel a year ago.

N Vijayagopal, director finance, BPCL

Coastal Gujarat Power merger with Tata Power by February-end

Over the last 10 years CGPL has made cumulative losses (ex-impairment) of Rs 9,400 crore till FY20 on aggressive bids and adverse coal and currency movement. The tax break is expected to be value accretive for Tata Power as i

The company’s entry into production of mobile components comes at a time when the Centre is emphasising on local production of electronic items and has also rolled out a production linked incentive scheme.

French utility EDF sees opportunity in hydrogen fuel, battery storage space in India

Technologies such as hydrogen fuel and battery storage are in mature stages in France, and the company sees great value for them in the process to decarbonise the energy sector in India.

New consumer rights rules may hit rooftop solar capacity addition

Out of the total solar capacity of 36,910 MW, only 3,402 MW currently comes from rooftop solar. The government aims to have 40,000 MW of rooftop solar capacity by 2022.

Solar EPC players hit by spike in input costs, forced to rework contracts

With an over 15-20% increase in raw material prices of steel, copper and aluminum along with a steep 20-25% rise in prices of solar modules, EPC players have been hit hard. With little margins possible under contract terms, m

solar panel

Rural electrification: Many micro units still out in the cold

More than 40% of such enterprises in four major states make do with diesel to meet their power needs, jacking up operational costs for them

Significantly, of the 63.33 million MSMEs in India at present, 63.03 million are micro enterprises.
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