NTPC
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India's NTPC Green rises as JV with IRCON nears full capacity
** NTPC Green NTPG.NS rises 3.7% to 107.43 rupees; set for steepest one-day pct gain in 2 months
** Co commissions additional 100 MW in Icron JV , bringing total operational capacity to 400 MW; total planned capacity is 500 MW
** IRCON Renewable, a JV between Ayana Renewable and Ircon with a 76:24 holding, will partly commence operations from September 17
** ONGC NTPC Green Private, a 50:50 JV between ONGC ONGC.NS and NTPC Green, acquired Ayana Renewable Power earlier this year
** NTPG falls 16% YTD
(Reporting by Urvi Dugar)
** NTPC Green NTPG.NS rises 3.7% to 107.43 rupees; set for steepest one-day pct gain in 2 months
** Co commissions additional 100 MW in Icron JV , bringing total operational capacity to 400 MW; total planned capacity is 500 MW
** IRCON Renewable, a JV between Ayana Renewable and Ircon with a 76:24 holding, will partly commence operations from September 17
** ONGC NTPC Green Private, a 50:50 JV between ONGC ONGC.NS and NTPC Green, acquired Ayana Renewable Power earlier this year
** NTPG falls 16% YTD
(Reporting by Urvi Dugar)
India's NTPC rises as HSBC upgrades to 'buy', sees long-term growth
** Shares of NTPC NTPC.NS rise 2% to 332 rupees
** HSBC upgrades power producer's rating to "buy" from "hold", raises PT to 400 rupees from 385 rupees, implying 22.8% upside from last close
** Says co is at the forefront of power management and generation, with the latest in the repository being battery and nuclear
** Adds that more than half of the firm's 7 trillion rupees ($79.2 billion) planned capex by 2032 is under a regulated tariff mechanism, providing superior long-term earnings certainty
** Highlights that thermal execution delays are getting sorted, with two thermal plants (1.3GW) commissioned and another 1.4GW likely by end-FY26
** NTPC rated "buy" by 24 analysts on average; median target price is 433 rupees – data compiled by LSEG
** Stock down 0.3% YTD
($1 = 88.3400 Indian rupees)
(Reporting by Rudra Pratap Singh in Bengaluru)
** Shares of NTPC NTPC.NS rise 2% to 332 rupees
** HSBC upgrades power producer's rating to "buy" from "hold", raises PT to 400 rupees from 385 rupees, implying 22.8% upside from last close
** Says co is at the forefront of power management and generation, with the latest in the repository being battery and nuclear
** Adds that more than half of the firm's 7 trillion rupees ($79.2 billion) planned capex by 2032 is under a regulated tariff mechanism, providing superior long-term earnings certainty
** Highlights that thermal execution delays are getting sorted, with two thermal plants (1.3GW) commissioned and another 1.4GW likely by end-FY26
** NTPC rated "buy" by 24 analysts on average; median target price is 433 rupees – data compiled by LSEG
** Stock down 0.3% YTD
($1 = 88.3400 Indian rupees)
(Reporting by Rudra Pratap Singh in Bengaluru)
India revokes grid access for 17 GW of clean energy projects, says source
Indian coal prices to be lower after tax revision, industry officials say
Carbon tax removal to offset higher consumption tax on coal
Coal prices to be 8-19% cheaper for utilities
Non-power sector coal costs to be 6-17% lower
Coal power costs 0.12 rupees lower, solar 0.10 rupees less after tax change, ICRA says
By Sudarshan Varadhan and Sethuraman N R
SINGAPORE/NEW DELHI, Sept 4 (Reuters) - Coal prices in India will fall after revisions to taxes on the fuel that generates nearly 75% of the country's electricity, industry officials and analysts said, as a higher consumption tax is offset by the removal of a carbon levy.
That could push up domestic consumption at the expense of imports, they said, putting further pressure on already plunging global coal prices.
India's finance minister hiked consumption levies on coal to 18% from 5% on Wednesday. However, buyers no longer have to pay a flat carbon tax of 400 Indian rupees ($4.57) a metric ton, known as a cess.
"We anticipate an increase in demand for locally mined coal as the elimination of the cess makes it cheaper despite the higher consumption tax," said Ashis Kumar Pradhan, senior analyst at consultancy Wood Mackenzie.
Prices of power plant-grade fuel sold by Coal India COAL.NS, which produces three-quarters of Indian output, will now be 8.1%-19.8% cheaper for utilities and 5.6%-16.7% cheaper for other users such as smelters, according to Reuters calculations based on Coal India and Wood Mackenzie data.
The calculations tallied with estimates provided by the Coal Consumers Association of India to Reuters.
India is the world's second largest coal importer behind China, but imports are expected to fall as the price of grades typically shipped in from top supplier Indonesia will be 3.5% higher after the tax change, Pradhan said.
The lower effective taxes on coal are expected to help generators burning the fossil fuel to cut costs by 0.12 rupees per kilowatt hour, said Vikram V, analyst at Moody's ICRA unit.
That compares with ICRA's estimates of a 0.10 rupee per kWh decline in generation costs for solar power developers following a cut in tax rates on panels to 5% from 12%.
Coal India and the federal ministries for finance, power and coal did not respond to requests for comment.
The move will also benefit power producers and help revive plunging sales by state-run Coal India, which has grappled with tepid power demand and a rise in renewable power generation.
Ashok Khurana, vice chairman at India's Association of Power Producers, said the decision would help reduce generating costs.
"However its impact on consumer tariffs would depend on distribution companies," he added.
The move could result in lower tariffs if distribution companies pass on reduced procurement costs to consumers.
If the costs are not passed on, it could help improve the finances of debt-laden, state government-owned distribution companies, Khurana said.
($1 = 87.5060 Indian rupees)
Coal prices to be lower for Indian utilities after tax revision https://reut.rs/4njyXhj
(Additional reporting by Nikunj Ohri in New Delhi; Editing by Jan Harvey)
(([email protected]; +65 91164984;))
Carbon tax removal to offset higher consumption tax on coal
Coal prices to be 8-19% cheaper for utilities
Non-power sector coal costs to be 6-17% lower
Coal power costs 0.12 rupees lower, solar 0.10 rupees less after tax change, ICRA says
By Sudarshan Varadhan and Sethuraman N R
SINGAPORE/NEW DELHI, Sept 4 (Reuters) - Coal prices in India will fall after revisions to taxes on the fuel that generates nearly 75% of the country's electricity, industry officials and analysts said, as a higher consumption tax is offset by the removal of a carbon levy.
That could push up domestic consumption at the expense of imports, they said, putting further pressure on already plunging global coal prices.
India's finance minister hiked consumption levies on coal to 18% from 5% on Wednesday. However, buyers no longer have to pay a flat carbon tax of 400 Indian rupees ($4.57) a metric ton, known as a cess.
"We anticipate an increase in demand for locally mined coal as the elimination of the cess makes it cheaper despite the higher consumption tax," said Ashis Kumar Pradhan, senior analyst at consultancy Wood Mackenzie.
Prices of power plant-grade fuel sold by Coal India COAL.NS, which produces three-quarters of Indian output, will now be 8.1%-19.8% cheaper for utilities and 5.6%-16.7% cheaper for other users such as smelters, according to Reuters calculations based on Coal India and Wood Mackenzie data.
The calculations tallied with estimates provided by the Coal Consumers Association of India to Reuters.
India is the world's second largest coal importer behind China, but imports are expected to fall as the price of grades typically shipped in from top supplier Indonesia will be 3.5% higher after the tax change, Pradhan said.
The lower effective taxes on coal are expected to help generators burning the fossil fuel to cut costs by 0.12 rupees per kilowatt hour, said Vikram V, analyst at Moody's ICRA unit.
That compares with ICRA's estimates of a 0.10 rupee per kWh decline in generation costs for solar power developers following a cut in tax rates on panels to 5% from 12%.
Coal India and the federal ministries for finance, power and coal did not respond to requests for comment.
The move will also benefit power producers and help revive plunging sales by state-run Coal India, which has grappled with tepid power demand and a rise in renewable power generation.
Ashok Khurana, vice chairman at India's Association of Power Producers, said the decision would help reduce generating costs.
"However its impact on consumer tariffs would depend on distribution companies," he added.
The move could result in lower tariffs if distribution companies pass on reduced procurement costs to consumers.
If the costs are not passed on, it could help improve the finances of debt-laden, state government-owned distribution companies, Khurana said.
($1 = 87.5060 Indian rupees)
Coal prices to be lower for Indian utilities after tax revision https://reut.rs/4njyXhj
(Additional reporting by Nikunj Ohri in New Delhi; Editing by Jan Harvey)
(([email protected]; +65 91164984;))
India to test battery storage at coal plants to balance grid as solar power surges
By Sethuraman N R
NEW DELHI, Sept 3 (Reuters) - India will test the installation of battery storage systems at some coal power plants, as the country grapples with integrating massive solar capacity while maintaining reliable electricity supply, an advisor to the country's power ministry said.
The concept addresses a critical challenge facing India's power grid, where thermal plants must ramp down during peak solar hours but maintain capacity for evening demand when solar generation drops.
The Central Electricity Authority (CEA) has been working on guidelines for coal-based power plants and technical minimum load requirements as the country rapidly expands renewable energy capacity.
India is aiming to expand its non-fossil fuel capacity to 500 GW by 2030, but coal remains central to its energy security. The government plans to increase coal-based capacity by 97 GW by 2035, taking the total to around 307 GW to ensure round-the-clock power.
"At times there are only two choices. Either you shut down the coal plant (during excess solar generation) or lose the thermal capacity in the evening, which we don't want," CEA chairman Ghanshyam Prasad told Reuters on the sidelines of PowerGen India 2025 event in New Delhi.
"We are just trying this as an experiment," he said, adding that the country's top coal power generator NTPC NTPC.NS had been tasked with testing this at some plants and given funding support.
The batteries would allow the coal plants to capture excess energy and dispatch it to the grid at a later point when needed, allowing the plants to operate at a stable rate, saving costs and extending their lives, CEA's Prasad said.
Recently, NTPC floated a tender for setting up of 1.7 GW of battery storage across 11 coal plants.
(Reporting by Sethuraman NR; editing by Philippa Fletcher)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
By Sethuraman N R
NEW DELHI, Sept 3 (Reuters) - India will test the installation of battery storage systems at some coal power plants, as the country grapples with integrating massive solar capacity while maintaining reliable electricity supply, an advisor to the country's power ministry said.
The concept addresses a critical challenge facing India's power grid, where thermal plants must ramp down during peak solar hours but maintain capacity for evening demand when solar generation drops.
The Central Electricity Authority (CEA) has been working on guidelines for coal-based power plants and technical minimum load requirements as the country rapidly expands renewable energy capacity.
India is aiming to expand its non-fossil fuel capacity to 500 GW by 2030, but coal remains central to its energy security. The government plans to increase coal-based capacity by 97 GW by 2035, taking the total to around 307 GW to ensure round-the-clock power.
"At times there are only two choices. Either you shut down the coal plant (during excess solar generation) or lose the thermal capacity in the evening, which we don't want," CEA chairman Ghanshyam Prasad told Reuters on the sidelines of PowerGen India 2025 event in New Delhi.
"We are just trying this as an experiment," he said, adding that the country's top coal power generator NTPC NTPC.NS had been tasked with testing this at some plants and given funding support.
The batteries would allow the coal plants to capture excess energy and dispatch it to the grid at a later point when needed, allowing the plants to operate at a stable rate, saving costs and extending their lives, CEA's Prasad said.
Recently, NTPC floated a tender for setting up of 1.7 GW of battery storage across 11 coal plants.
(Reporting by Sethuraman NR; editing by Philippa Fletcher)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
India’s NTPC flags risks to coal plant lifespan from reduced load
By Sethuraman N R
NEW DELHI, Sept 2 (Reuters) - NTPC Ltd NTPC.NS, India's largest coal power generator, has raised concerns that operating coal-fired power plants at a reduced load could significantly shorten the lifespan of its units.
The Central Electricity Authority (CEA), the country's de facto advisor for the power ministry, has recommended lowering the technical minimum — the lowest level at which a thermal plant can run reliably — to 40% of its installed capacity to help accommodate rising renewable energy generation.
The CEA plans to implement this from next year.
This shift is part of India's broader strategy to integrate more solar and wind power into the grid while maintaining round-the-clock supply.
However, NTPC’s Director of Operations Ravindra Kumar said that sustained operation at such low levels could accelerate wear and tear, especially in boilers and turbines designed for higher loads.
"If we operate at that level for long periods, the expected life of a plant — typically 25 years — could be cut by a third or even more," Kumar said on the sidelines of Powergen India event in New Delhi on Tuesday.
NTPC has opted to set its own technical minimum at 55%, which Kumar said offered a safer balance between flexibility and asset durability.
Responding to such concerns, CEA Chairman Ghanshyam Prasad said that studies have demonstrated the feasibility of operating at 40%, provided certain upgrades are made.
"If those (retrofitting) investments are made, the machines can run at lower loads. But it will affect efficiency, and that’s where compensation mechanisms should be considered," Prasad said.
India is aiming to expand its non-fossil fuel capacity to 500 GW by 2030, but coal remains central to its energy security.
The government plans to increase coal-based capacity by 97 GW by 2035, taking the total to around 307 GW, to ensure reliable supply during periods when renewable output dips.
(Reporting by Sethuraman NR
Editing by Bernadette Baum)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
By Sethuraman N R
NEW DELHI, Sept 2 (Reuters) - NTPC Ltd NTPC.NS, India's largest coal power generator, has raised concerns that operating coal-fired power plants at a reduced load could significantly shorten the lifespan of its units.
The Central Electricity Authority (CEA), the country's de facto advisor for the power ministry, has recommended lowering the technical minimum — the lowest level at which a thermal plant can run reliably — to 40% of its installed capacity to help accommodate rising renewable energy generation.
The CEA plans to implement this from next year.
This shift is part of India's broader strategy to integrate more solar and wind power into the grid while maintaining round-the-clock supply.
However, NTPC’s Director of Operations Ravindra Kumar said that sustained operation at such low levels could accelerate wear and tear, especially in boilers and turbines designed for higher loads.
"If we operate at that level for long periods, the expected life of a plant — typically 25 years — could be cut by a third or even more," Kumar said on the sidelines of Powergen India event in New Delhi on Tuesday.
NTPC has opted to set its own technical minimum at 55%, which Kumar said offered a safer balance between flexibility and asset durability.
Responding to such concerns, CEA Chairman Ghanshyam Prasad said that studies have demonstrated the feasibility of operating at 40%, provided certain upgrades are made.
"If those (retrofitting) investments are made, the machines can run at lower loads. But it will affect efficiency, and that’s where compensation mechanisms should be considered," Prasad said.
India is aiming to expand its non-fossil fuel capacity to 500 GW by 2030, but coal remains central to its energy security.
The government plans to increase coal-based capacity by 97 GW by 2035, taking the total to around 307 GW, to ensure reliable supply during periods when renewable output dips.
(Reporting by Sethuraman NR
Editing by Bernadette Baum)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
India's NALCO to invest $3.43 billion to build smelter, coal power plant
Updates with more details from executive in paragraphs 5, 7-8, background in paragraph 6, 9
NEW DELHI, Aug 28 (Reuters) - India's National Aluminium Company (NALCO) NALU.NS will invest a total of 300 billion rupees ($3.43 billion) in a new smelter and a coal power plant over the next five years, Chairman and Managing Director Brijendra Pratap Singh said on Thursday.
The state-run aluminium producer will budget roughly 180 billion rupees to set up the proposed smelter in the eastern Indian state of Odisha, Singh told reporters in New Delhi.
The project will be funded through a mix of debt and internal accruals, he added.
The remaining 120 billion rupees will be used to set up a coal power plant, for which it is in talks with Coal India COAL.NS and NTPC NTPC.NS, Singh said.
Singh said NALCO was also looking to acquire new mines in the country to dig up coal and bauxite, the ore from which aluminium is produced.
It already operates bauxite mines and an alumina refinery in the state of Odisha.
The firm is also conducting eligibility studies at five mines in Argentina for lithium, a mineral used in making batteries for electric vehicles, Singh said.
Through its joint venture Khanij Bidesh India Limited (KABIL) - inked with Hindustan Copper HCPR.NS and Mineral Exploration and Consultancy Limited - NALCO is also looking at equity investments in Australian lithium assets, he added.
India has been forming global partnerships to gain access to lithium mines.
($1 = 87.5060 Indian rupees)
(Reporting by Sethuraman N R, writing by Hritam Mukherjee, Editing by Anil D'Silva)
(([email protected]; X: @MukherjeeHritam;))
Updates with more details from executive in paragraphs 5, 7-8, background in paragraph 6, 9
NEW DELHI, Aug 28 (Reuters) - India's National Aluminium Company (NALCO) NALU.NS will invest a total of 300 billion rupees ($3.43 billion) in a new smelter and a coal power plant over the next five years, Chairman and Managing Director Brijendra Pratap Singh said on Thursday.
The state-run aluminium producer will budget roughly 180 billion rupees to set up the proposed smelter in the eastern Indian state of Odisha, Singh told reporters in New Delhi.
The project will be funded through a mix of debt and internal accruals, he added.
The remaining 120 billion rupees will be used to set up a coal power plant, for which it is in talks with Coal India COAL.NS and NTPC NTPC.NS, Singh said.
Singh said NALCO was also looking to acquire new mines in the country to dig up coal and bauxite, the ore from which aluminium is produced.
It already operates bauxite mines and an alumina refinery in the state of Odisha.
The firm is also conducting eligibility studies at five mines in Argentina for lithium, a mineral used in making batteries for electric vehicles, Singh said.
Through its joint venture Khanij Bidesh India Limited (KABIL) - inked with Hindustan Copper HCPR.NS and Mineral Exploration and Consultancy Limited - NALCO is also looking at equity investments in Australian lithium assets, he added.
India has been forming global partnerships to gain access to lithium mines.
($1 = 87.5060 Indian rupees)
(Reporting by Sethuraman N R, writing by Hritam Mukherjee, Editing by Anil D'Silva)
(([email protected]; X: @MukherjeeHritam;))
India's NTPC gains after CLSA hails decadal growth opportunity
** Shares of NTPC NTPC.NS rise 2.3% to 342.65 rupees
** CLSA says India's largest power producer is boosting capacity by 15% and fast-tracking its clean energy shift, setting a higher benchmark for growth after its annual analyst meet
** India's energy security and net-zero plans represent a decadal growth opportunity for NTPC -- CLSA
** Brokerage maintains "outperform" rating with a price target of 459 rupees, an implied upside of 37% from current levels; Says there is scope for NTPC stock to outrun PT within 12 month period
** Average rating of 24 analysts tracking NTPC is "buy"; median target price is 433 rupees, data compiled by LSEG shows
** NTPC shares up 0.5% YTD, lagging the Nifty 50's .NSEI 6% rise, exchange data shows
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** Shares of NTPC NTPC.NS rise 2.3% to 342.65 rupees
** CLSA says India's largest power producer is boosting capacity by 15% and fast-tracking its clean energy shift, setting a higher benchmark for growth after its annual analyst meet
** India's energy security and net-zero plans represent a decadal growth opportunity for NTPC -- CLSA
** Brokerage maintains "outperform" rating with a price target of 459 rupees, an implied upside of 37% from current levels; Says there is scope for NTPC stock to outrun PT within 12 month period
** Average rating of 24 analysts tracking NTPC is "buy"; median target price is 433 rupees, data compiled by LSEG shows
** NTPC shares up 0.5% YTD, lagging the Nifty 50's .NSEI 6% rise, exchange data shows
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
India's two state-run firms to issue over $500 million of debt in August, sources say
By Dharamraj Dhutia and Khushi Malhotra
MUMBAI, Aug 6 (Reuters) - Indian state-run companies NHPC NHPC.NS and NTPC Green Energy NTPG.NS will raise around 45 billion rupees (about $512.6 million) through the sale of short-term bonds this month, three sources aware of the matter said on Tuesday.
Hydropower company NHPC is set to raise around 20 billion rupees through the sale of two-year or three-year bonds and should be the first of the two companies to come up with the issue, the sources said.
NTPC Green Energy, a subsidiary of integrated power company NTPC NTPC.NS, will make its debut in the bond market by raising 20 billion rupees to 25 billion rupees through five-year bonds, according to the sources.
"NTPC Green Energy is keen to go for shorter duration paper, but may also opt for 10-year notes if it gets sufficient interest from investors," one of the sources said.
The sources requested anonymity as the talks are private.
Both the companies did not reply to a Reuters email seeking comment.
NHPC had raised around 19.45 billion rupees in early May through separately transferable redeemable principal part bonds with six-to-15-year maturities.
"Short-end rates are lower and there is a decent spread between a three-to-five year and a 10-year paper, which is encouraging both the firms to go for such issuance," the second source said.
Market participants expect the short-term bond yields to ease further as the Reserve Bank of India's monetary policy decision, due later in the day, is expected to boost demand for bonds.
($1 = 87.7930 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)
(([email protected];))
By Dharamraj Dhutia and Khushi Malhotra
MUMBAI, Aug 6 (Reuters) - Indian state-run companies NHPC NHPC.NS and NTPC Green Energy NTPG.NS will raise around 45 billion rupees (about $512.6 million) through the sale of short-term bonds this month, three sources aware of the matter said on Tuesday.
Hydropower company NHPC is set to raise around 20 billion rupees through the sale of two-year or three-year bonds and should be the first of the two companies to come up with the issue, the sources said.
NTPC Green Energy, a subsidiary of integrated power company NTPC NTPC.NS, will make its debut in the bond market by raising 20 billion rupees to 25 billion rupees through five-year bonds, according to the sources.
"NTPC Green Energy is keen to go for shorter duration paper, but may also opt for 10-year notes if it gets sufficient interest from investors," one of the sources said.
The sources requested anonymity as the talks are private.
Both the companies did not reply to a Reuters email seeking comment.
NHPC had raised around 19.45 billion rupees in early May through separately transferable redeemable principal part bonds with six-to-15-year maturities.
"Short-end rates are lower and there is a decent spread between a three-to-five year and a 10-year paper, which is encouraging both the firms to go for such issuance," the second source said.
Market participants expect the short-term bond yields to ease further as the Reserve Bank of India's monetary policy decision, due later in the day, is expected to boost demand for bonds.
($1 = 87.7930 Indian rupees)
(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)
(([email protected];))
India's renewable projects without supply deals double in nine months, documents show
Projects stranded equal over 25% of current green capacity
Transmission, legal, and regulatory delays cause bottlenecks
Government says stranded capacity at 44 GW
Updates Aug 1 story with details on power ministry data on stranded capacity, in paragraphs 9-10
By Sudarshan Varadhan
SINGAPORE, Aug 1 (Reuters) - India's stranded renewable power capacity - projects awarded but unable to come online - more than doubled over nine months, due to unfinished transmission lines, and legal and regulatory delays, letters from an industry group to the government showed.
The South Asian nation aims to more than double its non-fossil fuel power capacity to 500 gigawatts by 2030, but the acceleration has left projects without firm agreements to supply power.
Renewable projects that won tenders to generate power but are yet to sign power purchase agreements with buyers have surged to over 50 gigawatts, India's Sustainable Projects Developers Association said in a letter to the Ministry of New and Renewable Energy on June 27.
That compared with stranded projects of over 20 GW, another letter sent by the SPDA on October 4 showed. Both letters were reviewed by Reuters.
Tendered projects cumulatively worth billions of dollars awarded to companies including JSW, NTPC NTPC.NS, NTPG.NS, Adani Green ADNA.NS, ACME Solar ACMO.NS, Renew RNW.O and Sembcorp SEMB.NS are stranded, two industry officials familiar with the matter said.
"Energy transition is not just about building solar and wind capacity, it is also about ensuring that clean power reaches in a most optimum cost and timely manner," the SPDA said in its June 27 letter to the renewable energy ministry.
The stranded solar and wind capacity without buyers of over 50 GW reported by the SPDA is about a quarter the size of India's current installed renewable capacity of 184.6 GW.
The companies did not respond to Reuters requests seeking comment.
A spokesperson for India's power ministry told Reuters on Saturday renewable projects of about 44 GW had been awarded generation licences by federal agencies - which account for most tenders - but did not have supply agreements.
He did not elaborate on the scale of the increase in stranded projects, the duration of delay or companies affected.
Delays in critical transmission infrastructure - especially in sun-drenched states such as Rajasthan and Gujarat - have forced many solar plants to miss commissioning deadlines, the SPDA said in the June letter.
Interstate transmission lines connecting renewable energy projects to the grid are being fast-tracked, and compensation for landowners allowing power cables on their property has been increased to facilitate construction, the ministry spokesperson said.
India plans to connect 230 GW of renewable energy projects to the grid through interstate transmission lines, of which 20% have been completed, 70% are under construction and the remainder is being bid out, he said, without specifying a timeline for completion.
Renewable projects are also stuck due to prolonged legal disputes over land and environmental permissions, SPDA said, adding that several developers have paused operations over unresolved court cases.
(Reporting by Sudarshan Varadhan; Editing by Frances Kerry, Louise Heavens and Alison Williams)
(([email protected]; +65 91164984;))
Projects stranded equal over 25% of current green capacity
Transmission, legal, and regulatory delays cause bottlenecks
Government says stranded capacity at 44 GW
Updates Aug 1 story with details on power ministry data on stranded capacity, in paragraphs 9-10
By Sudarshan Varadhan
SINGAPORE, Aug 1 (Reuters) - India's stranded renewable power capacity - projects awarded but unable to come online - more than doubled over nine months, due to unfinished transmission lines, and legal and regulatory delays, letters from an industry group to the government showed.
The South Asian nation aims to more than double its non-fossil fuel power capacity to 500 gigawatts by 2030, but the acceleration has left projects without firm agreements to supply power.
Renewable projects that won tenders to generate power but are yet to sign power purchase agreements with buyers have surged to over 50 gigawatts, India's Sustainable Projects Developers Association said in a letter to the Ministry of New and Renewable Energy on June 27.
That compared with stranded projects of over 20 GW, another letter sent by the SPDA on October 4 showed. Both letters were reviewed by Reuters.
Tendered projects cumulatively worth billions of dollars awarded to companies including JSW, NTPC NTPC.NS, NTPG.NS, Adani Green ADNA.NS, ACME Solar ACMO.NS, Renew RNW.O and Sembcorp SEMB.NS are stranded, two industry officials familiar with the matter said.
"Energy transition is not just about building solar and wind capacity, it is also about ensuring that clean power reaches in a most optimum cost and timely manner," the SPDA said in its June 27 letter to the renewable energy ministry.
The stranded solar and wind capacity without buyers of over 50 GW reported by the SPDA is about a quarter the size of India's current installed renewable capacity of 184.6 GW.
The companies did not respond to Reuters requests seeking comment.
A spokesperson for India's power ministry told Reuters on Saturday renewable projects of about 44 GW had been awarded generation licences by federal agencies - which account for most tenders - but did not have supply agreements.
He did not elaborate on the scale of the increase in stranded projects, the duration of delay or companies affected.
Delays in critical transmission infrastructure - especially in sun-drenched states such as Rajasthan and Gujarat - have forced many solar plants to miss commissioning deadlines, the SPDA said in the June letter.
Interstate transmission lines connecting renewable energy projects to the grid are being fast-tracked, and compensation for landowners allowing power cables on their property has been increased to facilitate construction, the ministry spokesperson said.
India plans to connect 230 GW of renewable energy projects to the grid through interstate transmission lines, of which 20% have been completed, 70% are under construction and the remainder is being bid out, he said, without specifying a timeline for completion.
Renewable projects are also stuck due to prolonged legal disputes over land and environmental permissions, SPDA said, adding that several developers have paused operations over unresolved court cases.
(Reporting by Sudarshan Varadhan; Editing by Frances Kerry, Louise Heavens and Alison Williams)
(([email protected]; +65 91164984;))
India's stranded renewable projects double to over 50 GW, industry documents show
By Sudarshan Varadhan
SINGAPORE, Aug 1 (Reuters) - India's stranded renewable power capacity - projects awarded but unable to come online - more than doubled over nine months, due to unfinished transmission lines, and legal and regulatory delays, letters from an industry group to the government showed.
Renewable projects that won tenders to generate power but are yet to sign power purchase agreements with buyers have surged to over 50 gigawatts (GW), India's Sustainable Projects Developers Association (SPDA) said in a letter to the Ministry of New and Renewable Energy on June 27.
That compared with stranded projects of over 20 GW, another letter sent by the SPDA on October 4 showed. Both letters were reviewed by Reuters.
The stranded solar and wind capacity without buyers of over 50 GW reported by the SPDA is about quarter the size of India's current installed renewable capacity of 184.6 GW.
"India's energy transition is not just about building solar and wind capacity, it is also about ensuring that clean power reaches in a most optimum cost and timely manner," the SPDA said in the June 27 letter to the renewable energy ministry.
The ministry did not immediately respond to a request seeking comment.
India has been ramping up renewables as it pushes to more than double its non-fossil fuel power capacity to 500 GW by 2030. A record 22 GW of solar and wind capacity came online in the six months ended June, government data showed.
However, tendered projects cumulatively worth billions of dollars awarded to companies including JSW, NTPC NTPC.NS, NTPG.NS, Adani Green ADNA.NS, ACME Solar ACMO.NS, Renew RNW.O and Sembcorp SEMB.NS are stranded, two industry officials familiar with the matter said.
The companies did not respond to Reuters requests seeking comment.
The SPDA includes leaders of some of India's largest renewable energy producers Renew Power, ACME Group and Avaada Group as members of its core committee.
Delays in critical transmission infrastructure - especially in sun-drenched states such as Rajasthan and Gujarat - have forced many solar plants to miss commissioning deadlines, risking financial penalties and potential loss of government incentives, the SPDA said in the June letter.
The SPDA urged the government in the same letter to recognise delays in approvals and transmission construction as force majeure events to help protect developers from financial penalties, and to expedite regulatory permissions.
Renewable projects are also stuck due to prolonged legal disputes over land and environmental permissions, it said, adding that several developers have paused operations over unresolved court cases.
(Reporting by Sudarshan Varadhan
Editing by Frances Kerry)
(([email protected]; +65 91164984;))
By Sudarshan Varadhan
SINGAPORE, Aug 1 (Reuters) - India's stranded renewable power capacity - projects awarded but unable to come online - more than doubled over nine months, due to unfinished transmission lines, and legal and regulatory delays, letters from an industry group to the government showed.
Renewable projects that won tenders to generate power but are yet to sign power purchase agreements with buyers have surged to over 50 gigawatts (GW), India's Sustainable Projects Developers Association (SPDA) said in a letter to the Ministry of New and Renewable Energy on June 27.
That compared with stranded projects of over 20 GW, another letter sent by the SPDA on October 4 showed. Both letters were reviewed by Reuters.
The stranded solar and wind capacity without buyers of over 50 GW reported by the SPDA is about quarter the size of India's current installed renewable capacity of 184.6 GW.
"India's energy transition is not just about building solar and wind capacity, it is also about ensuring that clean power reaches in a most optimum cost and timely manner," the SPDA said in the June 27 letter to the renewable energy ministry.
The ministry did not immediately respond to a request seeking comment.
India has been ramping up renewables as it pushes to more than double its non-fossil fuel power capacity to 500 GW by 2030. A record 22 GW of solar and wind capacity came online in the six months ended June, government data showed.
However, tendered projects cumulatively worth billions of dollars awarded to companies including JSW, NTPC NTPC.NS, NTPG.NS, Adani Green ADNA.NS, ACME Solar ACMO.NS, Renew RNW.O and Sembcorp SEMB.NS are stranded, two industry officials familiar with the matter said.
The companies did not respond to Reuters requests seeking comment.
The SPDA includes leaders of some of India's largest renewable energy producers Renew Power, ACME Group and Avaada Group as members of its core committee.
Delays in critical transmission infrastructure - especially in sun-drenched states such as Rajasthan and Gujarat - have forced many solar plants to miss commissioning deadlines, risking financial penalties and potential loss of government incentives, the SPDA said in the June letter.
The SPDA urged the government in the same letter to recognise delays in approvals and transmission construction as force majeure events to help protect developers from financial penalties, and to expedite regulatory permissions.
Renewable projects are also stuck due to prolonged legal disputes over land and environmental permissions, it said, adding that several developers have paused operations over unresolved court cases.
(Reporting by Sudarshan Varadhan
Editing by Frances Kerry)
(([email protected]; +65 91164984;))
NTPC Q1 Consol Net Profit 60.11 Billion Rupees
July 29 (Reuters) - NTPC Ltd NTPC.NS:
NTPC Q1 CONSOL NET PROFIT 60.11 BILLION RUPEES
NTPC Q1 CONSOL REVENUE FROM OPERATIONS 470.65 BILLION RUPEES
Source text: [ID:]
Further company coverage: NTPC.NS
(([email protected];))
July 29 (Reuters) - NTPC Ltd NTPC.NS:
NTPC Q1 CONSOL NET PROFIT 60.11 BILLION RUPEES
NTPC Q1 CONSOL REVENUE FROM OPERATIONS 470.65 BILLION RUPEES
Source text: [ID:]
Further company coverage: NTPC.NS
(([email protected];))
India Information Minister: Cabinet Decided To Strengthen NTPC, NLCIL To Invest In Renewable Energy
July 16 (Reuters) -
INDIA INFORMATION MINISTER: CABINET DECIDED TO STRENGTHEN NTPC, NLCIL TO INVEST IN RENEWABLE ENERGY
INDIA INFORMATION MINISTER: CABINET APPROVES INVESTMENT OF 200 BILLION RUPEES BY NTPC IN RENEWABLES
INDIA INFORMATION MINISTER: CABINET APPROVES INVESTMENT OF 70 BILLION RUPEES BY NLC IN RENEWABLE ENERGY
Further company coverage: NLCI.NS
(([email protected];))
July 16 (Reuters) -
INDIA INFORMATION MINISTER: CABINET DECIDED TO STRENGTHEN NTPC, NLCIL TO INVEST IN RENEWABLE ENERGY
INDIA INFORMATION MINISTER: CABINET APPROVES INVESTMENT OF 200 BILLION RUPEES BY NTPC IN RENEWABLES
INDIA INFORMATION MINISTER: CABINET APPROVES INVESTMENT OF 70 BILLION RUPEES BY NLC IN RENEWABLE ENERGY
Further company coverage: NLCI.NS
(([email protected];))
NTPC Declares COD Of 32.80 MW In Khavda Solar Project
July 1 (Reuters) - NTPC Ltd NTPC.NS:
NTPC LTD - DECLARES COD OF 32.80 MW IN KHAVDA SOLAR PROJECT
NTPC LTD - DECLARES COD OF 64.7 MW IN KHAVDA-I SOLAR PV PROJECT
Source text: ID:nNSE73wTYy
Further company coverage: NTPC.NS
(([email protected];))
July 1 (Reuters) - NTPC Ltd NTPC.NS:
NTPC LTD - DECLARES COD OF 32.80 MW IN KHAVDA SOLAR PROJECT
NTPC LTD - DECLARES COD OF 64.7 MW IN KHAVDA-I SOLAR PV PROJECT
Source text: ID:nNSE73wTYy
Further company coverage: NTPC.NS
(([email protected];))
NTPC Says Declaration Of COD Of Unit3 Of Barh Super Thermal Power Project
June 26 (Reuters) - NTPC Ltd NTPC.NS:
NTPC - DECLARATION OF COD OF UNIT3 OF BARH SUPER THERMAL POWER PROJECT
Source text: [ID:]
Further company coverage: NTPC.NS
(([email protected];))
June 26 (Reuters) - NTPC Ltd NTPC.NS:
NTPC - DECLARATION OF COD OF UNIT3 OF BARH SUPER THERMAL POWER PROJECT
Source text: [ID:]
Further company coverage: NTPC.NS
(([email protected];))
NTPC Says Board Approved Raising Up To 180 Billion Rupees Via Non-Convertible Debentures
June 21 (Reuters) - NTPC Ltd NTPC.NS:
SAYS BOARD APPROVED RAISING UP TO 180 BILLION RUPEES VIA NON-CONVERTIBLE DEBENTURES
Further company coverage: NTPC.NS
(([email protected];))
June 21 (Reuters) - NTPC Ltd NTPC.NS:
SAYS BOARD APPROVED RAISING UP TO 180 BILLION RUPEES VIA NON-CONVERTIBLE DEBENTURES
Further company coverage: NTPC.NS
(([email protected];))
India's Waaree Energies, NTPC Green, Hyundai Motor gain on FTSE additions
** Shares of Waaree Energies WAAN.NS up 5.6%, NTPC Green Energy NTPG.NS up 4%, Hyundai Motor India HYUN.NS rise 2.6%
** WAAN, NTPG, and HYUN among shares being added to FTSE Russell index via quarterly rejig happening on Friday, leading to inflows
** FTSE rejig is expected to result in a net inflow of ~$150 million into India, Nuvama Alternative and Quantitative Research said
** WAAN shares down 1.3% YTD, while NTPG down 15.2% and HYUN up 8.5%
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected] ))
** Shares of Waaree Energies WAAN.NS up 5.6%, NTPC Green Energy NTPG.NS up 4%, Hyundai Motor India HYUN.NS rise 2.6%
** WAAN, NTPG, and HYUN among shares being added to FTSE Russell index via quarterly rejig happening on Friday, leading to inflows
** FTSE rejig is expected to result in a net inflow of ~$150 million into India, Nuvama Alternative and Quantitative Research said
** WAAN shares down 1.3% YTD, while NTPG down 15.2% and HYUN up 8.5%
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected] ))
BREAKINGVIEWS-India's dividend demand will prove self-defeating
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Shritama Bose
MUMBAI, June 18 (Reuters Breakingviews) - India's expectations from its state-owned enterprises are unrealistic. New Delhi wants the profitable ones to make larger and more frequent dividend payments. That can boost government revenue, but the push overlooks companies' shrinking cash piles.
State companies paid out record dividends worth 1.5 trillion rupees ($17.31 billion) during the year ended March, with Oil and Natural Gas Corporation ONGC.NS and lenders including State Bank of India SBI.NS among the top payers. Overall, public sector companies distributed about a quarter of total dividends in the last financial year despite accounting for one tenth of India's market capitalisation.
Now the South Asian country is asking the cohort to increase dividends by about 25% for the financial year to the end of March 2026, Bloomberg reported this month, citing sources, and make the payments on a quarterly basis rather than annually. This looks like a step in the opposite direction of the government's own guideline from November, which relaxed the minimum yearly dividend requirement to the lower of 30% of net profit or 4% of net worth.
There is mounting budget angst. Earlier this year, Arunish Chawla, a secretary in the ministry of finance, argued high payouts are why mutual funds ought to include state-run firms in their investment portfolios. One unspoken aim may be to support public valuations. This would, in turn, help the government to raise revenue by selling state assets. Ensuring payouts at three-month intervals also could help stabilise inflows: tax income turned lumpy after GDP growth slowed through part of last year. The latest personal income tax cuts also will eat into future revenue.
Companies have limited room to step up, however. The cumulative free cash flows after deducting common dividends at eight large non-financial state-owned enterprises stood at 615 billion rupees ($7.14 billion) in March 2024, may have turned negative as of March, and could fall further by 2026, per estimates by Fitch Ratings. That's because the capital expenditure of companies like energy producer NTPC NTPC.NS and utilities provider Power Grid PGRD.NS is rising.
Investors typically shun or discount government-controlled companies precisely because they are vulnerable to official meddling in how they manage their finances. Making too high demands on the state sector is one way to ensure it shrinks sooner rather than later.
Follow Shritama Bose on Linkedin and X.
CONTEXT NEWS
The Indian government is asking state-run companies to increase dividend payouts by about 25% during the financial year to March 31, 2026, to bolster finances in a volatile global environment, Bloomberg reported on June 2, citing unnamed people with knowledge of the matter.
The government is requesting companies to make these payments on a quarterly basis rather than annually, the report added, and wants to collect about 900 billion rupees ($10.5 billion) through dividends in the year through March 2026 compared with 740.2 billion rupees received in the previous year.
State-run firms' shares beat the broader market on total returns https://www.reuters.com/graphics/BRV-BRV/bypreornrve/chart.png
(Editing by Una Galani; Production by Ujjaini Dutta)
((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Shritama Bose
MUMBAI, June 18 (Reuters Breakingviews) - India's expectations from its state-owned enterprises are unrealistic. New Delhi wants the profitable ones to make larger and more frequent dividend payments. That can boost government revenue, but the push overlooks companies' shrinking cash piles.
State companies paid out record dividends worth 1.5 trillion rupees ($17.31 billion) during the year ended March, with Oil and Natural Gas Corporation ONGC.NS and lenders including State Bank of India SBI.NS among the top payers. Overall, public sector companies distributed about a quarter of total dividends in the last financial year despite accounting for one tenth of India's market capitalisation.
Now the South Asian country is asking the cohort to increase dividends by about 25% for the financial year to the end of March 2026, Bloomberg reported this month, citing sources, and make the payments on a quarterly basis rather than annually. This looks like a step in the opposite direction of the government's own guideline from November, which relaxed the minimum yearly dividend requirement to the lower of 30% of net profit or 4% of net worth.
There is mounting budget angst. Earlier this year, Arunish Chawla, a secretary in the ministry of finance, argued high payouts are why mutual funds ought to include state-run firms in their investment portfolios. One unspoken aim may be to support public valuations. This would, in turn, help the government to raise revenue by selling state assets. Ensuring payouts at three-month intervals also could help stabilise inflows: tax income turned lumpy after GDP growth slowed through part of last year. The latest personal income tax cuts also will eat into future revenue.
Companies have limited room to step up, however. The cumulative free cash flows after deducting common dividends at eight large non-financial state-owned enterprises stood at 615 billion rupees ($7.14 billion) in March 2024, may have turned negative as of March, and could fall further by 2026, per estimates by Fitch Ratings. That's because the capital expenditure of companies like energy producer NTPC NTPC.NS and utilities provider Power Grid PGRD.NS is rising.
Investors typically shun or discount government-controlled companies precisely because they are vulnerable to official meddling in how they manage their finances. Making too high demands on the state sector is one way to ensure it shrinks sooner rather than later.
Follow Shritama Bose on Linkedin and X.
CONTEXT NEWS
The Indian government is asking state-run companies to increase dividend payouts by about 25% during the financial year to March 31, 2026, to bolster finances in a volatile global environment, Bloomberg reported on June 2, citing unnamed people with knowledge of the matter.
The government is requesting companies to make these payments on a quarterly basis rather than annually, the report added, and wants to collect about 900 billion rupees ($10.5 billion) through dividends in the year through March 2026 compared with 740.2 billion rupees received in the previous year.
State-run firms' shares beat the broader market on total returns https://www.reuters.com/graphics/BRV-BRV/bypreornrve/chart.png
(Editing by Una Galani; Production by Ujjaini Dutta)
((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))
Nepal begins first power exports to Bangladesh via India's grid
June 16 (Reuters) - Nepal has begun exporting 40 megawatts (MW) of electricity to Bangladesh through India's power grid in its first move into the international energy market and positioning India as a key facilitator of regional electricity trading.
Nepal is also exporting 80 MW to Bihar state in India's east, Nepal's Energy Minister Dipak Khadka said on X on Sunday, adding that power exports had unlocked a 5,000 MW export market for the Himalayan nation.
The power transaction follows a tripartite agreement signed in October between Nepal Electricity Authority, Bangladesh Power Development Board, and India's NTPC Vidyut Vyapar Nigam.
India exports electricity to Nepal, Bangladesh and Myanmar, while importing power from Nepal and Bhutan and is discussing plans to integrate its grid with Sri Lanka.
The development comes as Nepal rapidly expands its hydropower capacity, with Indian hydro power producer SJVN SJVN.NS currently developing the 900 MW Arun-3 project in Nepal's Sankhuwasabha district.
In April, India's Power Grid Corporation PGRD.NS and Nepal Electricity Authority agreed to implement high-capacity cross-border transmission infrastructure to facilitate increased power trading.
Nepal, which has installed capacity of more than 3,000 MW, with 95% hydro, has also been seeking Indian investment to boost its hydroelectric output and export surplus power to New Delhi.
(Reporting by Sethuraman NR; Editing by Kate Mayberry)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
June 16 (Reuters) - Nepal has begun exporting 40 megawatts (MW) of electricity to Bangladesh through India's power grid in its first move into the international energy market and positioning India as a key facilitator of regional electricity trading.
Nepal is also exporting 80 MW to Bihar state in India's east, Nepal's Energy Minister Dipak Khadka said on X on Sunday, adding that power exports had unlocked a 5,000 MW export market for the Himalayan nation.
The power transaction follows a tripartite agreement signed in October between Nepal Electricity Authority, Bangladesh Power Development Board, and India's NTPC Vidyut Vyapar Nigam.
India exports electricity to Nepal, Bangladesh and Myanmar, while importing power from Nepal and Bhutan and is discussing plans to integrate its grid with Sri Lanka.
The development comes as Nepal rapidly expands its hydropower capacity, with Indian hydro power producer SJVN SJVN.NS currently developing the 900 MW Arun-3 project in Nepal's Sankhuwasabha district.
In April, India's Power Grid Corporation PGRD.NS and Nepal Electricity Authority agreed to implement high-capacity cross-border transmission infrastructure to facilitate increased power trading.
Nepal, which has installed capacity of more than 3,000 MW, with 95% hydro, has also been seeking Indian investment to boost its hydroelectric output and export surplus power to New Delhi.
(Reporting by Sethuraman NR; Editing by Kate Mayberry)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
India New Issue-NTPC accepts bids for 10-year bonds, bankers say
MUMBAI, June 13 (Reuters) - India's NTPC NTPC.NS has accepted bids worth 40 billion rupees ($464.4 million) for bonds maturing in 10 years, three bankers said on Friday.
The state-run company will pay an annual coupon of 6.89% and had invited coupon and commitment bids for the issue earlier in the day, they said.
NTPC did not immediately reply to a Reuters email seeking a comment.
Here is the list of deals reported so far on June 13:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
NTPC | 10 years | 6.89 | 40 | June 13 | AAA (Crisil, Icra, Care) |
Piramal Finance | 1 year and 10 months | To be decided | 5+1 | June 16 | AA (Care) |
Piramal Finance | 2 years | To be decided | 8+16 | June 16 | AA (Care) |
Piramal Finance | 5 years | To be decided | 2.5+2.5 | June 16 | AA (Care) |
*Size includes base plus greenshoe for some issues
($1 = 86.1300 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
MUMBAI, June 13 (Reuters) - India's NTPC NTPC.NS has accepted bids worth 40 billion rupees ($464.4 million) for bonds maturing in 10 years, three bankers said on Friday.
The state-run company will pay an annual coupon of 6.89% and had invited coupon and commitment bids for the issue earlier in the day, they said.
NTPC did not immediately reply to a Reuters email seeking a comment.
Here is the list of deals reported so far on June 13:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
NTPC | 10 years | 6.89 | 40 | June 13 | AAA (Crisil, Icra, Care) |
Piramal Finance | 1 year and 10 months | To be decided | 5+1 | June 16 | AA (Care) |
Piramal Finance | 2 years | To be decided | 8+16 | June 16 | AA (Care) |
Piramal Finance | 5 years | To be decided | 2.5+2.5 | June 16 | AA (Care) |
*Size includes base plus greenshoe for some issues
($1 = 86.1300 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
NTPC Completes Trial Operation Of 660 MW Unit At Barh Project
June 12 (Reuters) - NTPC Ltd NTPC.NS:
NTPC LTD - COMPLETES TRIAL OPERATION OF 660 MW UNIT AT BARH PROJECT
NTPC LTD - TOTAL INSTALLED CAPACITY NOW 60926 MW STANDALONE, 82028 MW GROUP
Source text: ID:nNSE4Fr3Sg
Further company coverage: NTPC.NS
(([email protected];))
June 12 (Reuters) - NTPC Ltd NTPC.NS:
NTPC LTD - COMPLETES TRIAL OPERATION OF 660 MW UNIT AT BARH PROJECT
NTPC LTD - TOTAL INSTALLED CAPACITY NOW 60926 MW STANDALONE, 82028 MW GROUP
Source text: ID:nNSE4Fr3Sg
Further company coverage: NTPC.NS
(([email protected];))
India New Issue-NTPC to issue 10-year bonds, bankers say
MUMBAI, June 11 (Reuters) - India's NTPC NTPC.NS plans to raise 40 billion rupees ($467.9 million), including a greenshoe option of 33 billion rupees, through the sale of bonds maturing in 10 years, three bankers said on Wednesday.
The state-run company has invited coupon and commitment bids for the issue on Friday, they said.
NTPC did not immediately reply to Reuters email seeking a comment.
Here is the list of deals reported so far on June 11:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
NTPC | 10 years | To be decided | 7+33 | June 13 | AAA (Crisil, Icra, Care) |
Muthoot Finance May 2028 reissue | 3 years | 8.10 (yield) | 8.60 | June 10 | AA+ (Crisil, Icra) |
Muthoot Finance April 2030 reissue | 4 years and 11 months | 8.20 (yield) | 1.75 | June 10 | AA+ (Crisil, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 85.4900 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)
MUMBAI, June 11 (Reuters) - India's NTPC NTPC.NS plans to raise 40 billion rupees ($467.9 million), including a greenshoe option of 33 billion rupees, through the sale of bonds maturing in 10 years, three bankers said on Wednesday.
The state-run company has invited coupon and commitment bids for the issue on Friday, they said.
NTPC did not immediately reply to Reuters email seeking a comment.
Here is the list of deals reported so far on June 11:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
NTPC | 10 years | To be decided | 7+33 | June 13 | AAA (Crisil, Icra, Care) |
Muthoot Finance May 2028 reissue | 3 years | 8.10 (yield) | 8.60 | June 10 | AA+ (Crisil, Icra) |
Muthoot Finance April 2030 reissue | 4 years and 11 months | 8.20 (yield) | 1.75 | June 10 | AA+ (Crisil, Icra) |
*Size includes base plus greenshoe for some issues
($1 = 85.4900 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)
India New Issue-THDC India to issue 10-year bonds worth 6 billion rupees, bankers say
MUMBAI, June 9 (Reuters) - THDC India THDC.BO plans to raise 6 billion Indian rupees ($70.07 million), which includes a greenshoe option of 4 billion rupees, selling bonds maturing in 10 years, according to a draft term sheet.
The coupon and the date of bidding has not yet been finalised, as per the term sheet.
Here is the list of deals reported so far on June 9:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
THDC India | 10 years | To be decided | 2+4 | To be decided | AA (Care) |
*Size includes base plus greenshoe for some issues
($1 = 85.6280 Indian rupees)
(Reporting by Khushi Malhotra
Editing by)
MUMBAI, June 9 (Reuters) - THDC India THDC.BO plans to raise 6 billion Indian rupees ($70.07 million), which includes a greenshoe option of 4 billion rupees, selling bonds maturing in 10 years, according to a draft term sheet.
The coupon and the date of bidding has not yet been finalised, as per the term sheet.
Here is the list of deals reported so far on June 9:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
THDC India | 10 years | To be decided | 2+4 | To be decided | AA (Care) |
*Size includes base plus greenshoe for some issues
($1 = 85.6280 Indian rupees)
(Reporting by Khushi Malhotra
Editing by)
NTPC Says THDC India's 250 MW Unit Of Tehri PSP Is Declared On Commercial Operation
June 6 (Reuters) - NTPC Ltd NTPC.NS:
THDC INDIA'S 250 MW UNIT OF TEHRI PSP IS DECLARED ON COMMERCIAL OPERATION
Source text: ID:nnAZN3Y4S0R
Further company coverage: NTPC.NS
(([email protected];;))
June 6 (Reuters) - NTPC Ltd NTPC.NS:
THDC INDIA'S 250 MW UNIT OF TEHRI PSP IS DECLARED ON COMMERCIAL OPERATION
Source text: ID:nnAZN3Y4S0R
Further company coverage: NTPC.NS
(([email protected];;))
NTPC To Issue Unsecured Non-Convertible Debentures Of 40 Billion Rupees
May 7 (Reuters) - NTPC Ltd NTPC.NS:
NTPC - TO ISSUE UNSECURED NON-CONVERTIBLE DEBENTURES OF 40 BILLION RUPEES
NTPC - NCD ISSUE VIA PRIVATE PLACEMENT AT COUPON OF 6.84% P.A. FOR 10 YRS TENOR
Source text: ID:nBSE6RhWr2
Further company coverage: NTPC.NS
(([email protected];))
May 7 (Reuters) - NTPC Ltd NTPC.NS:
NTPC - TO ISSUE UNSECURED NON-CONVERTIBLE DEBENTURES OF 40 BILLION RUPEES
NTPC - NCD ISSUE VIA PRIVATE PLACEMENT AT COUPON OF 6.84% P.A. FOR 10 YRS TENOR
Source text: ID:nBSE6RhWr2
Further company coverage: NTPC.NS
(([email protected];))
India New Issue-NTPC to issue 10-year bonds, bankers say
MUMBAI, May 5 (Reuters) - India's NTPC NTPC.NS plans to raise 40 billion rupees ($473.8 million), including a greenshoe option of 33 billion rupees, through the sale of bonds maturing in 10 years, three bankers said on Monday.
It has invited coupon and commitment bids for the issue on Wednesday, they said.
NTPC did not immediately reply to a Reuters email seeking a comment.
Here is the list of deals reported so far on May 5:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
NTPC | 10 years | To be decided | 7+33 | May 7 | AAA (Crisil, Icra, Care) |
Bajaj Finance April 2031 Reissue | 5 years 11 months and 11 days | To be decided | 2+10 | May 6 | AAA (Crisil) |
Bajaj Finance June 2030 Reissue | 5 years 1 month and 21 days | To be decided | 5+25 | May 6 | AAA (Crisil) |
Summit Digitel Infrastructure | 15 years | 7.31 (quarterly) | 14.75 | May 5 | AAA (Crisil, Care) |
*Size includes base plus greenshoe for some issues
($1 = 84.4175 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
MUMBAI, May 5 (Reuters) - India's NTPC NTPC.NS plans to raise 40 billion rupees ($473.8 million), including a greenshoe option of 33 billion rupees, through the sale of bonds maturing in 10 years, three bankers said on Monday.
It has invited coupon and commitment bids for the issue on Wednesday, they said.
NTPC did not immediately reply to a Reuters email seeking a comment.
Here is the list of deals reported so far on May 5:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
NTPC | 10 years | To be decided | 7+33 | May 7 | AAA (Crisil, Icra, Care) |
Bajaj Finance April 2031 Reissue | 5 years 11 months and 11 days | To be decided | 2+10 | May 6 | AAA (Crisil) |
Bajaj Finance June 2030 Reissue | 5 years 1 month and 21 days | To be decided | 5+25 | May 6 | AAA (Crisil) |
Summit Digitel Infrastructure | 15 years | 7.31 (quarterly) | 14.75 | May 5 | AAA (Crisil, Care) |
*Size includes base plus greenshoe for some issues
($1 = 84.4175 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
India's Adani Power fourth-quarter profit falls on lower tariffs, higher costs
April 30 (Reuters) - Indian thermal power firm Adani Power ADAN.NS reported a 5% fall in fourth-quarter profit on Wednesday, hurt by lower tariff realisations and higher operating costs.
The company, part of the billionaire Gautam Adani-led Adani Group, said its consolidated profit fell to 25.99 billion rupees ($307.2 million) in the three months ended March 31 from 27.37 billion rupees a year earlier.
Its power sale volumes rose 18.9% year-on-year in the quarter, but revenue grew a modest 6.5% to 142.37 billion rupees due to weaker merchant tariffs.
The company said the supply of power outpaced demand, leading to a fall in merchant tariffs during the quarter, which resulted in lower realisations.
Merchant tariffs refer to the price at which electricity is sold in the open market.
Adani Power did not disclose the extent to which merchant tariffs fell during the quarter compared to a year earlier.
The company also said that it faced higher operating expenses during the quarter due to three newly acquired plants in the September quarter last year.
Adani Power's total expenses rose 9.2% for the fourth quarter.
Peers NTPC NTPC.NS and JSW Energy JSWE.NS are yet to report their quarterly results.
Adani Power's shares settled 3% lower after the results.
($1 = 84.6170 Indian rupees)
(Reporting by Ashish Chandra in Bengaluru; Editing by Sonia Cheema)
(([email protected]; +91 7982114624;))
April 30 (Reuters) - Indian thermal power firm Adani Power ADAN.NS reported a 5% fall in fourth-quarter profit on Wednesday, hurt by lower tariff realisations and higher operating costs.
The company, part of the billionaire Gautam Adani-led Adani Group, said its consolidated profit fell to 25.99 billion rupees ($307.2 million) in the three months ended March 31 from 27.37 billion rupees a year earlier.
Its power sale volumes rose 18.9% year-on-year in the quarter, but revenue grew a modest 6.5% to 142.37 billion rupees due to weaker merchant tariffs.
The company said the supply of power outpaced demand, leading to a fall in merchant tariffs during the quarter, which resulted in lower realisations.
Merchant tariffs refer to the price at which electricity is sold in the open market.
Adani Power did not disclose the extent to which merchant tariffs fell during the quarter compared to a year earlier.
The company also said that it faced higher operating expenses during the quarter due to three newly acquired plants in the September quarter last year.
Adani Power's total expenses rose 9.2% for the fourth quarter.
Peers NTPC NTPC.NS and JSW Energy JSWE.NS are yet to report their quarterly results.
Adani Power's shares settled 3% lower after the results.
($1 = 84.6170 Indian rupees)
(Reporting by Ashish Chandra in Bengaluru; Editing by Sonia Cheema)
(([email protected]; +91 7982114624;))
EXCLUSIVE-India plans to ease nuclear liability laws to attract foreign firms, sources say
India plans to ease nuclear liability laws to attract foreign firms, sources say
Proposes amendments to allay suppliers' fears of unlimited liability, they say
Aims to attract U.S. nuclear firms to boost nuclear power capacity to 100 GW by 2047
By Sarita Chaganti Singh
NEW DELHI, April 18 (Reuters) - India is planning to ease its nuclear liability laws to cap accident-related penalties on equipment suppliers, three government sources said, in a move mainly to attract U.S. firms that have been holding back due to the risk of unlimited exposure.
The proposal by Prime Minister Narendra Modi's government is the latest step to expand nuclear power production capacity by 12 times to 100 gigawatts by 2047 as well as provide a fillip to India in trade and tariff negotiations with the U.S.
A draft law prepared by the department of atomic energy removes a key clause in the Civil Nuclear Liability Damage Act of 2010 that exposes suppliers to unlimited liability for accidents, the three sources said.
India's atomic energy department, the prime minister's office and the finance ministry did not respond to requests seeking comment.
"India needs nuclear power, which is clean and essential," said Debasish Mishra, chief growth officer at Deloitte South Asia.
"A liability cap will allay the major concern of the suppliers of nuclear reactors."
The amendments are in line with international norms that put the onus on the operator to maintain safety instead of the supplier of nuclear reactors.
New Delhi is hoping the changes will ease concerns of mainly U.S. firms like General Electric Co GE.N and Westinghouse Electric Co that have been sitting on the sidelines for years due to unlimited risks in case of accidents.
Analysts say passage of the amended law is crucial to negotiations between India and the U.S. for a trade deal this year that aims to raise bilateral trade to $500 billion by 2030 from $191 billion last year.
Modi's administration is confident of getting approval for the amendments in the monsoon session of parliament, set to begin in July, according to the sources.
Under the proposed amendments, the right of the operator to compensation from the supplier in case of an accident will be capped at the value of the contract. It will also be subject to a period to be specified in the contract.
Currently, the law does not define a limit to the amount of compensation an operator can seek from suppliers and the period for which the vendor can be held accountable.
LAW GREW OUT OF BHOPAL DISASTER
India's 2010 nuclear liability law grew out of the 1984 Bhopal gas disaster, the world's deadliest industrial accident, at a factory owned by U.S. multinational Union Carbide Corp in which more than 5,000 people were killed.
Union Carbide agreed to pay an out-of-court settlement of $470 million in damages in 1989.
The current liability law effectively shut out Western companies from a huge market, and also strained U.S.-Indian relations since they reached a deal on nuclear cooperation in 2008.
It also left U.S. firms at a disadvantage to Russian and French companies whose accident liability is underwritten by their governments.
The draft law also proposes a lower liability cap on small reactor operators at $58 million, but is unlikely to alter the cap for large reactor operators from the current level of $175 million, the three sources said.
India is betting big on nuclear power to meet its rising energy demand without compromising on net-zero commitments, for which it proposes to allow private Indian companies to build such plants.
Indian conglomerates like Reliance Industries RELI.NS, Tata Power TTPW.NS, Adani Power ADAN.NS and Vedanta Ltd VDAN.NS have held discussions with the government to invest around $5.14 billion each in the sector.
($1 = 85.6320 Indian rupees)
(Reporting by Sarita Chaganti Singh, Editing by Raju Gopalakrishnan.)
(([email protected];))
India plans to ease nuclear liability laws to attract foreign firms, sources say
Proposes amendments to allay suppliers' fears of unlimited liability, they say
Aims to attract U.S. nuclear firms to boost nuclear power capacity to 100 GW by 2047
By Sarita Chaganti Singh
NEW DELHI, April 18 (Reuters) - India is planning to ease its nuclear liability laws to cap accident-related penalties on equipment suppliers, three government sources said, in a move mainly to attract U.S. firms that have been holding back due to the risk of unlimited exposure.
The proposal by Prime Minister Narendra Modi's government is the latest step to expand nuclear power production capacity by 12 times to 100 gigawatts by 2047 as well as provide a fillip to India in trade and tariff negotiations with the U.S.
A draft law prepared by the department of atomic energy removes a key clause in the Civil Nuclear Liability Damage Act of 2010 that exposes suppliers to unlimited liability for accidents, the three sources said.
India's atomic energy department, the prime minister's office and the finance ministry did not respond to requests seeking comment.
"India needs nuclear power, which is clean and essential," said Debasish Mishra, chief growth officer at Deloitte South Asia.
"A liability cap will allay the major concern of the suppliers of nuclear reactors."
The amendments are in line with international norms that put the onus on the operator to maintain safety instead of the supplier of nuclear reactors.
New Delhi is hoping the changes will ease concerns of mainly U.S. firms like General Electric Co GE.N and Westinghouse Electric Co that have been sitting on the sidelines for years due to unlimited risks in case of accidents.
Analysts say passage of the amended law is crucial to negotiations between India and the U.S. for a trade deal this year that aims to raise bilateral trade to $500 billion by 2030 from $191 billion last year.
Modi's administration is confident of getting approval for the amendments in the monsoon session of parliament, set to begin in July, according to the sources.
Under the proposed amendments, the right of the operator to compensation from the supplier in case of an accident will be capped at the value of the contract. It will also be subject to a period to be specified in the contract.
Currently, the law does not define a limit to the amount of compensation an operator can seek from suppliers and the period for which the vendor can be held accountable.
LAW GREW OUT OF BHOPAL DISASTER
India's 2010 nuclear liability law grew out of the 1984 Bhopal gas disaster, the world's deadliest industrial accident, at a factory owned by U.S. multinational Union Carbide Corp in which more than 5,000 people were killed.
Union Carbide agreed to pay an out-of-court settlement of $470 million in damages in 1989.
The current liability law effectively shut out Western companies from a huge market, and also strained U.S.-Indian relations since they reached a deal on nuclear cooperation in 2008.
It also left U.S. firms at a disadvantage to Russian and French companies whose accident liability is underwritten by their governments.
The draft law also proposes a lower liability cap on small reactor operators at $58 million, but is unlikely to alter the cap for large reactor operators from the current level of $175 million, the three sources said.
India is betting big on nuclear power to meet its rising energy demand without compromising on net-zero commitments, for which it proposes to allow private Indian companies to build such plants.
Indian conglomerates like Reliance Industries RELI.NS, Tata Power TTPW.NS, Adani Power ADAN.NS and Vedanta Ltd VDAN.NS have held discussions with the government to invest around $5.14 billion each in the sector.
($1 = 85.6320 Indian rupees)
(Reporting by Sarita Chaganti Singh, Editing by Raju Gopalakrishnan.)
(([email protected];))
India's Tata Power gains on NTPC deal for 45 bln-rupee energy project
** Shares of Tata Power Company TTPW.NS rises 3.9% to 379 rupees, their biggest one-day gain in 3 months
** Stock among top pct gainers in the Nifty energy index .NIFTYENR, which is up 1.5%
** Integrated power co's unit signs pact with NTPC Limited NTPC.NS to develop a 200 MW renewable energy project
** Project valued at 45 billion rupees ($525.06 million); to be completed within 24 months
** Avg of analysts' rating on stock is "hold;" median PT is 423 rupees - data compiled by LSEG
** Stock down 4% YTD vs 6.5% fall in Nifty energy index
** NTPC last up 1.4%
($1 = 85.7050 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru)
** Shares of Tata Power Company TTPW.NS rises 3.9% to 379 rupees, their biggest one-day gain in 3 months
** Stock among top pct gainers in the Nifty energy index .NIFTYENR, which is up 1.5%
** Integrated power co's unit signs pact with NTPC Limited NTPC.NS to develop a 200 MW renewable energy project
** Project valued at 45 billion rupees ($525.06 million); to be completed within 24 months
** Avg of analysts' rating on stock is "hold;" median PT is 423 rupees - data compiled by LSEG
** Stock down 4% YTD vs 6.5% fall in Nifty energy index
** NTPC last up 1.4%
($1 = 85.7050 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru)
India's NTPC aims to build small nuclear reactors to replace old coal plants
By Sethuraman N R
April 8 (Reuters) - India's NTPC NTPC.NS is exploring the possibility of building small modular reactors to replace its older thermal power plants, according to a tender document, the first such proposal since the country moved to open its much-guarded nuclear sector.
The state-run company, India's top power producer, has called for consultants to run feasibility tests for small modular reactors (SMR), which have simpler designs than large nuclear plants and can be scaled up to meet demand.
NTPC mainly runs coal-fired plants and wants to identify ones that can be retired in the next five years, preferably replaced by SMRs, according to the tender on Monday.
Reuters had reported in February that the company was in talks with foreign firms, including those from Russia and the U.S., to build SMRs. Its current capacity, including through its joint ventures, is about 63 gigawatts (GW) of coal power.
In early February, India said it would amend its nuclear liability law to boost foreign and private investments, aiming for at least 100 GW of nuclear capacity by 2047 from about 8 GW now, all of which is operated by state-run Nuclear Power Corp of India.
While companies such as Tata Power TTPW.NS have expressed interest in building SMRs, NTPC is the first to issue a tender.
NTPC also plans to build large nuclear reactors with about 15 GW combined capacity. It has started work on two 2.6 GW plants.
(Reporting by Sethuraman NR; Editing by Savio D'Souza)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
By Sethuraman N R
April 8 (Reuters) - India's NTPC NTPC.NS is exploring the possibility of building small modular reactors to replace its older thermal power plants, according to a tender document, the first such proposal since the country moved to open its much-guarded nuclear sector.
The state-run company, India's top power producer, has called for consultants to run feasibility tests for small modular reactors (SMR), which have simpler designs than large nuclear plants and can be scaled up to meet demand.
NTPC mainly runs coal-fired plants and wants to identify ones that can be retired in the next five years, preferably replaced by SMRs, according to the tender on Monday.
Reuters had reported in February that the company was in talks with foreign firms, including those from Russia and the U.S., to build SMRs. Its current capacity, including through its joint ventures, is about 63 gigawatts (GW) of coal power.
In early February, India said it would amend its nuclear liability law to boost foreign and private investments, aiming for at least 100 GW of nuclear capacity by 2047 from about 8 GW now, all of which is operated by state-run Nuclear Power Corp of India.
While companies such as Tata Power TTPW.NS have expressed interest in building SMRs, NTPC is the first to issue a tender.
NTPC also plans to build large nuclear reactors with about 15 GW combined capacity. It has started work on two 2.6 GW plants.
(Reporting by Sethuraman NR; Editing by Savio D'Souza)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
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What does NTPC do?
NTPC is India's largest integrated power company, dedicated to lighting every corner of the country and building a sustainable future for all. With a diverse portfolio of thermal, hydro, solar, and wind power plants, NTPC is dedicated to delivering reliable, affordable, and sustainable electricity to the nation. The company is committed to adopting best practices, fostering innovation, and embracing clean energy technologies for a greener future. Along with power generation, NTPC has ventured into various new business areas, including e-mobility, battery storage, pumped hydro storage, waste-to-energy, nuclear power, and green hydrogen solutions. It has also participated in the bidding for power distribution of Union Territories.
Who are the competitors of NTPC?
NTPC major competitors are Adani Power, Adani Green Energy, Tata Power, JSW Energy, NHPC, Torrent Power, Neyveli Lignite. Market Cap of NTPC is ₹3,29,105 Crs. While the median market cap of its peers are ₹95,367 Crs.
Is NTPC financially stable compared to its competitors?
NTPC seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does NTPC pay decent dividends?
The company seems to pay a good stable dividend. NTPC latest dividend payout ratio is 34.57% and 3yr average dividend payout ratio is 37.41%
How has NTPC allocated its funds?
NA
How strong is NTPC balance sheet?
NTPC balance sheet is weak and might have solvency issues
Is the profitablity of NTPC improving?
The profit is oscillating. The profit of NTPC is ₹22,599 Crs for TTM, ₹23,422 Crs for Mar 2025 and ₹20,812 Crs for Mar 2024.
Is the debt of NTPC increasing or decreasing?
Yes, The net debt of NTPC is increasing. Latest net debt of NTPC is ₹2,25,000 Crs as of Mar-25. This is greater than Mar-24 when it was ₹2,21,599 Crs.
Is NTPC stock expensive?
Yes, NTPC is expensive. Latest PE of NTPC is 13.74, while 3 year average PE is 12.67. Also latest EV/EBITDA of NTPC is 10.74 while 3yr average is 9.61.
Has the share price of NTPC grown faster than its competition?
NTPC has given lower returns compared to its competitors. NTPC has grown at ~13.98% over the last 7yrs while peers have grown at a median rate of 27.89%
Is the promoter bullish about NTPC?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in NTPC is 51.1% and last quarter promoter holding is 51.1%.
Are mutual funds buying/selling NTPC?
The mutual fund holding of NTPC is increasing. The current mutual fund holding in NTPC is 19.12% while previous quarter holding is 17.54%.