Here is an ongoing chronological summary of short news stories of March and February 2022. These news items have not been covered independently elsewhere on this portal.
NTPC announced that it has completed trial operations at Unit-3 of 660 mw capacity of the 3×660-mw Nabinagar coal-fired power plant in Bihar. The power plant is owned by NTPC’s wholly-owned subsidiary Nabinagar Power Generating Company Ltd. With this, the total installed capacity of Nabinagar Power Generating Company Ltd and NTPC Group has become 1,980 mw and 68,567.18 mw, respectively. (March 10, 2022)
NTPC announced that consequent upon successful commissioning, the third part capacity of 74.88 mw out of the 296-mw Fatehgarh solar PV project at Jaisalmer, Rajasthan, will achieve commercial operation on March 5, 2022. With this, the commercial capacity of NTPC and NTPC Group will become 54,452.18 mw and 67,907.18 mw, respectively. The second part of like capacity of the Fatehgarh solar project had turned commercial on February 5, 2022. (March 4, 2022)
SJVN Ltd, in a stock exchange communication, said that it has achieved financial closure for 210-mw Luhri-1 hydropower project in Himachal Pradesh and the 75-mw Parasaran solar power project in Uttar Pradesh. As per the loan agreement, State Bank of India will provide Rs.1,537 crore at an effective interest rate of 6.90 per cent per annum and Punjab National Bank, Dubai, will provide Rs.319.04 crore, for the Luhri and Parasaran projects, respectively. (March 4, 2022)
Adani Renewable Energy Holding Fifteen Ltd, a wholly-owned subsidiary of Adani Green Energy Ltd, has received the letter of award from Punjab State Power Corporation Ltd to set up a 150-mw solar power project. AREHFL had participated in a tender issued by the state utility for procurement of 250 mw solar power from ground mounted grid connected solar PV power plants. The fixed tariff for this project capacity is Rs.2.34 per kwh for a period of 25 years. With this, AGEL now has a total renewable energy project portfolio of 20,434 mw capacity, out of which 5,410 mw is operational. (March 1, 2022)
The inauguration of 22 power transmission & distribution projects at Samba in the UT of Jammu & Kashmir was completed on February 14, 2022, at the hands of Lt Governor Manoj Sinha, according to reports. These projects, with a total outlay of Rs.216 crore, will help improve power supply to residential and industrial consumers in the areas of Samba, Jammu, Hiranagar, Kathua, Udhampur and adjoining areas, it is learnt. (February 15, 2022)
TK Elevator (TKE) has announced that its multi-purpose facility (MPF) at Chakan, Pune is all geared up to offer “Made in India” escalators to its customers in India. From its state-of-the-art Chakan MPF, TK Elevator will be supplying a comprehensive range of TKE escalators to the Indian market, including its velino, tugela and victoria series of escalators. (February 14, 2022)
Torrent Power Ltd, in a statement, said that it has entered into a share purchase agreement with Blue Diamond Properties Pvt Ltd and Balrampur Chini Mills Ltd for the acquisition of 100 per cent equity share capital of Visual Percept Solar Projects Pvt Ltd, a special purpose vehicle that operates 25-mw worth solar power projects in Gujarat. The SPV has 25-year power purchase agreement with Gujarat Urja Vikas Nigam Ltd for electricity generated from the said solar power plants. (February 11, 2022)
Three subsidiaries of Adani Green Energy Ltd, namely Adani Green Energy (UP) Ltd, Prayatna Developers Pvt Ltd and Parampujya Solar Energy Pvt Ltd, collectively housing 930 mw of operational solar power projects, have raised Rs.612.30 crore by their maiden domestic bond issuance, on private placement basis. The proceeds from the NCDs will be used to part-refinance existing rupee term loan bearing higher interest cost, Adani Green Energy said in a statement. (February 4, 2022)
Bentley Systems Inc, the infrastructure engineering software company, has announced the completion of its acquisition of Power Line Systems—a leader in software for the design of overhead electric power transmission lines and their structures—from private equity firm TA Associates for approximately $700 million in cash (for a debt free business and subject to final working capital adjustments). When announcing its full year 2021 operating results (scheduled for March 1, 2022), Bentley Systems will provide its full‑year 2022 financial outlook, reflecting the inclusion of Power Line Systems. (February 3, 2022)
