18
Sunday
August 2019
6:54 AM IST
News Headlines
Deepa Malik joins Bajrang for Khel Ratna, cricketer Jadeja among 19 for Arjuna        Mary Kom recuses herself from Saturday's sports award meeting        Trump says Apple will spend 'vast sums' in US        Coffee Day Enterprises says debt to fall to Rs 1,000 cr post sale of Bengaluru tech park        Modi arrives in Bhutan on two-day visit        Hong Kong protest tensions heat up in Australia        Separatists vacate key offices in Yemen's Aden: Minister        Fire at AIIMS, 22 fire tenders rushed        Soldier killed in Pak firing along LoC in J-K's Rajouri        Jaitley on life support; Nitish, Piyush Goyal and others visit AIIMS        Ravi Shastri reappointed head coach of Indian team till 2021        Archer strikes as Australia slump to 80-4 in second Ashes Test        Hong Kong protests: Trump urges Xi to meet pro-democracy demonstrators        Myanmar, Bangladesh schedule Rohingya repatriation        2 Israelis, Palestinian assailant hurt in West Bank car ramming: army        Sensex, Nifty edge higher on stimulus talks; post weekly loss        Over 3,000 temporary jobs cut due to slowdown: Maruti Suzuki        Airtel shareholders approve waiver in recovery of excess pay to Mittal        Kashmir remains shut for 12th consecutive day        We would like to give little time: SC on plea seeking removal of restrictions on media in J-K        
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Business News
NTPC chief for setting up of clean power projects without PPAs
 
New Delhi: Amid a row between discoms and clean energy developers over renegotiation of tariff, NTPC Chairman and Managing Director Gurdeep Singh on Friday suggested setting up of renewable projects without power purchase agreements (PPAs).

In the current scenario, bankers and financial institutions insist for long-term PPAs before financial closure or fund tie-up of a project.

Participating in a panel discussion here, Singh said buyers can either purchase power on capacity contracts (PPAs) or from market. "There could be long-term contracts but energy can be purchased on a day-to-day basis or monthly basis."

Asked about feasibility of this idea, he said, "10 years back, no one was believing the solar energy prices will come down. Let's not underestimate the power of the development of technology...solar cells would be more efficient and there is offshore wind power."

Recently, an Andhra Pradesh discom asked the state-run power giant NTPC and Solar Energy Corporation of India (SECI) to revise tariff downwards for some solar projects for which PPAs were already concluded.

The discom had asked to lower the tariff to an all-time low tariff of Rs 2.44 per unit. But, SECI and NTPC refused to do so saying the lowest tariff was discovered in a different auction in different circumstances.

There has been instances where states insisted for renegotiating tariffs even after conclusion of the PPAs, as clean energy prices have dropped sharply during the past few years.

Solar power tariff, which was once Rs 17 per unit, has dropped to as low as Rs 2.44 per unit.

About stranded gas-based power projects and those running at suboptimal levels, he said, "Invariably, you will find that most of the time, the gas-based capacity on power grid is 4 gigawatt (GW) to 5 GW and rarely goes to 6 GW 7 GW. That is because of the the pricing part. There is a need for some kind of correction on gas pricing."

He further said, "Gas can be available at a USD 6 per mmBtu (million metric British thermal unit). You can have some more flexibility. You have a huge bridge and we have a lot benefit.


Trump says Apple will spend 'vast sums' in US
Coffee Day Enterprises says debt to fall to Rs 1,000 cr post sale of Bengaluru tech park
Sensex, Nifty edge higher on stimulus talks; post weekly loss
Over 3,000 temporary jobs cut due to slowdown: Maruti Suzuki
Airtel shareholders approve waiver in recovery of excess pay to Mittal
Rupee slips 12 paise to 70.93 vs USD in early trade
Gaana looking to break-even in next 4-5 years
Rupee suffers biggest slump in 6 yrs; closes at 4-mth low of 70.73 on yuan shock
Sensex tanks over 418 points amid Kashmir uncertainty
Law which allowed circulation of Rs 1000 notes in 1999 scrapped
JM Financial arm to raise up to Rs 500 cr
RBI imposes Rs 50 lakh fine on SBI
Trump warns China of substantial increase in import tariffs
RBI imposes Rs 11 cr fine on seven PSBs for violating norms
Gold prices up marginally; silver tumbles by Rs 590 per kg
D K Mohanty assumes charge as RINL's director
JSPL supplies 1.26 LT rails to Indian Railways
Fiscal deficit touches Rs 4.32 lakh crore in Q1
CBI books Rolls Royce in corruption case
RBI slaps Rs 26 lakh fine on Mobikwik, Hip Bar for violating norms
KERALA NEWS
Flood in Kerala: CM conducts aerial survey
 Kochi: Kerala Chief Minister Pinarayi Vijayan along with his ministers and government officials carr  
Kerala rains: Toll climbs to 88, 40 still missing
Red Alert in Alappuzha, Ernakulam and Idukki
Singer Biju Narayanan's wife passes away
INTERNATIONAL NEWS
Modi arrives in Bhutan on two-day visit
 Paro: Prime Minister Narendra Modi received a red-carpet welcome as he arrived in Bhutan on Saturday
Hong Kong protest tensions heat up in Australia
Separatists vacate key offices in Yemen's Aden: Minister
Hong Kong protests: Trump urges Xi to meet pro-democracy demonstrators
NATIONAL NEWS
Fire at AIIMS, 22 fire tenders rushed
 New Delhi: A fire broke out at the AIIMS here on Saturday evening and 22 fire tenders were rushed to
Soldier killed in Pak firing along LoC in J-K's Rajouri
Kashmir remains shut for 12th consecutive day
We would like to give little time: SC on plea seeking removal of restrictions on media in J-K
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