REC Approves ₹220 Billion for DISCOMs to Clear Dues to Power Generators
REC Limited, a public infrastructure finance company, has approved ₹220 billion (~$2.78 billion) for the power utilities of Jharkhand, Rajasthan, Chhattisgarh, and Jammu & Kashmir to clear their outstanding dues ...
Daily News Wrap-Up: Ten States Get Additional ₹282.04 Billion to Reform Power Sector
Here are some noteworthy cleantech announcements of the day from around the world: The Department of Expenditure, Ministry of Finance, granted additional borrowing permission of ₹282.04 billion (~$3.72 billion) to ...
REC Limited Raises $1.175 Billion to Provide Low-Cost Financing for Power Projects
REC Limited, a public infrastructure finance company, involved in financing power projects, has raised $1.175 billion (~₹82.45 billion) from a consortium of seven banks as the Mandated Lead Arrangers and ...
Ministry Directs Electricity Regulators to Ensure Timely Issue of Tariff Orders
The Ministry of Power has issued a notification directing the state electricity regulatory commissions (SERCs) to issue tariff orders for the financial year (FY) 2020-21 at the earliest. The Ministry ...
Five More States Become Eligible for Power Sector’s Reform-Linked Borrowings
Reform-linked borrowings have provided the necessary impetus for reforms in the power sector in many states in the country. According to the latest figures released by the Ministry of Finance, ...
PFC and REC Get Relaxation on Loan Disbursal for DISCOMs under UDAY Program
The Government of India (GOI) has approved a relaxation for Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) that have been tasked with managing the liquidity crisis of the ...
REC Releases Details for Bailing Out Power Distribution Companies Amid Coronavirus Crisis
The Rural Electrification Corporation Limited (REC) has announced an opportunity for the distribution companies (DISCOMs) to avail loans to clear their dues. The loans under this program will be co-funded ...
BlackRock Raises $5.1 Billion for Renewable Energy
BlackRock’s Global Energy and Power Infrastructure Fund has achieved a $5.1 billion fundraise for Global Energy & Power Infrastructure Fund III (GEPIF III), making it the most substantial alternative fundraise ...
Committee on Energy Expresses Disappointment Over Budgetary Cuts for Ministry of Power
The Standing Committee on Energy recently presented its fourth report on the Demands for Grants of the Ministry of Power for the year 2020-21. The report shows a budgetary provision ...
Privatizing DISCOMs the Way Out of their Financial Mess
The Indian power sector has been reeling under enormous financial pressure over the last few decades. Distribution companies (DISCOMs), a crucial part of the power sector, have been at the ...
African Development Bank to Provide $995,000 to Support Ethiopia’s Renewable Sector
Ethiopia’s quest to roll out a sustainable procurement framework for independent power producers has received a boost in the form of a grant of $995,000 made by the Sustainable Energy ...
India Needs to Spend $39 Billion on Transmission Infrastructure Revamp
India is one of the fastest growing economies in the world with increasing power demand in the coming years. Historically, the country has also been a power deficit with millions ...
Government Proposes $700 Million Plan for EV Infrastructure Revamp in the Next 5 Years
Recently, the Ministry of Power (MoP) in a meeting with the Fifteenth Finance Commission in New Delhi, proposed measures to support the development of Flue Gas Desulfurization (FGD) infrastructure and ...
Government Proposes EV Charging Stations at Every 25 Kms on Roads
The Town and Country Planning Organization, Ministry of Housing, and Ministry of Urban Affairs have released amendments to Model Building By-Laws (MBBL) to provide for electric vehicle (EV) charging infrastructure ...
Power Finance Corporation’s Acquisition of 52% Stake in REC Approved
The Competition Commission of India has announced that it has approved Power Finance Corporation’s (PFC) acquisition of 52% stake in Rural Electrification Corporation (REC). In December 2018, the acquisition received ...
Power Generators Can Terminate PPA if DISCOM Defaults on Payment: Committee Proposal
The Government of India constituted a High Level Empowered Committee (HLEC) on July 29, 2018 chaired by the Cabinet Secretary to address the issues of stressed thermal power projects. Country’s apex ...
India’s Banks Grapple with $38 Billion in Bad Loans from Power Sector: Report
India’s banking sector is staring at potential dud assets worth $38 billion (~₹2,470 billion) from the power sector, according to a latest report released by the Bank of America and ...