Ajeet Kumar Agarwal Director (Finance), who was also holding additional charge of the post of Chairman & Managing Director of the REC, has superannuated on May 31, 2020 and ceased to be a director on the board from June 1 New Delhi: State-owned shadow banking firm REC Ltd on Monday said its Executive Director Ajoy […]
Power minister proposes a new scheme worth Rs 3 lakh crore to finance commission
Officials of the power ministry discussed the need to restructure the power system to make states responsible for the financial health of their power distributions companies (discoms), with the NK Singh-led FC Power minister RK Singh proposed a new scheme for the power sector amounting to Rs 3 lakh crore spanning five years, in his […]
Moody’s outlook negative for Indian power sector
Maintaining liquidity buffers will be key for companies’ credit profiles. New Delhi: Moody’s Investors Service has changed its outlook for the Indian power sector to negative from stable on declining power demand, payment delays and an adverse impact from government measures that favor consumers over utility companies. The report dated May 15, however, is silent […]
Sumant Sinha – CMD ReNew Power, Quote on Financial Relief for Power sector announced on May 13,2020
“The 90,000 cr liquidity infusion into discoms will breathe fresh life into the power sector and protect distribution companies from going bankrupt. This money will help the discoms to repay most of the Rs 92,000 crore outstanding payments that they owe to power generators, restarting the virtuous cycle of liquidity, higher investments and rapid […]
Ensure uninterrupted electricity supply to consumers: PM Narendra Modi to power sector
At a meeting to review the power sector and the impact of COVID-19 pandemic on it, he also discussed various long-term reforms for enhancing sustainability, resilience, and efficiency of the sector, an official release said NEW DELHI: Amid the coronavirus crisis, Prime Minister Narendra Modi on Friday asked officials to work towards ensuring round-the-clock supply […]
Electricity Amendment Bill Pushes for Privatisation Model, Limits Powers of Local Admin, State Govts
Experts question the government’s stance of preparing and notifying ‘National Energy Renewable Policy’ through the bill in spite of controversy over classification of hydro power as renewable energy. On Wednesday, April 29, a national consultation on the Draft Electricity Amendment Bill, 2020, organised online by a group of non-profit organisations, unanimously opposed the changes proposed […]
Draft Amendment in the Electricity Act, 2003 to Introduce some key Reforms in the Power Sector
Draft Amendment in the Electricity Act, 2003 to Introduce some key Reforms in the Power Sector For more information please see below link:
Impact of COVID-19: Challenges for the Power Sector
Impact of COVID-19: Challenges for the Power Sector For more information please see below link:
Discom collections to be hit amid Lockdown: Ind-Ra
Ind-Ra expects payments to gencos remain uneven even after June 2020, based on the collection ability of the discoms. The overall situation could result in leverage increasing across the sector because of an increase in working capital borrowings Amid lockdown to contain coronavirus infection, bill collections of discoms would have a significant impact and their […]
COVID-19: Prolonged lockdown can affect renewable energy sector
Power demand has gone down by 20-25%, affecting revenues of distribution companies Power sector experts are dealing with rising uncertainties in the wake of the novel coronavirus disease (COVID-19) outbreak in the country. The sector has seen some unprecedented developments — closure of commercial and manufacturing industries and people working from home. This has resulted […]