An ambitious project to generate 10,000 MW solar power on farmlands hasn’t started because of paucity of funds.
The deal that would fetch the government about Rs 6,530 crore based on the company’s current market price.
Power Finance Corporation’s capital adequacy ratio will fall after REC buyout.
Solar power developers warned that projects could turn unviable as they can’t pass on additional levy on imported panels.
The government plans to launch the second round of sale of aggregated power from producers without power purchase agreements.
The product’s implementing agency claims scaling down requirements rendered it unviable.
Minister for Petroleum Dharmendra Pradhan welcomed the relief from U.S. sanctions against Iran.
Months after its unit in Thoothukudi was shut over environmental violations, Vedanta said it will start a copper mill in Silvassa.
The government is seeking bids to fill 19 million barrels of crude oil in Padur under first phase of development in 3-4 months.
OPEC expects global primary energy demand to rise 33 percent between 2015 and 2040. About 24 percent of this will be from India.
An official of Petroleum and Natural Gas Regulatory Board said the round is under planning and some decisions could affect timing.
The Middle East nation also assured of increased oil production in a month—in line with India’s long-standing demand.
Ajay Singh, chairman and managing director of SpiceJet Ltd., said a 10-12 percent fare hike won’t affect flyers.
Two state-run Indian oil companies have placed requests to buy Iranian crude in November.
Fuel price cut will have some impact on marketing margins of private oil marketers, said B Anand, the CEO of Nayara Energy.
SoftBank offered to supply free solar power to members of International Solar Alliance after pact completes 25 years.
India plans to start 5,000 compressed biogas plants over the next four years to curb oil imports and improve farm incomes.
A tepid response forced the government to extend the deadline for auctions the second time.
Can tackle coal shortage by opening more mines, said RK Singh, minister for power & new and renewable energy (independent charge).
The project, which will start production in 36 months, will help cut import of natural gas and fertiliser, Modi said.
Prices of power in the spot market rose to a nine-year high in September due to soaring electricity demand in many states.