The latest auction of storage-based solar project with assured peak-hour supply may have caused trouble for coal by setting a world record for cheapest solar storage power, with the added commitment of almost round-the-clock supply costing 8 per cent less than thermal power to break the affordability barrier for storage-based energy solutions.In the latest instance, Hyderabad-based GreenKo won 900MW of the 1,200MW solar storage project auction by SECI Ltd, the entity under the renewable energy ministry implementing the government’s solar 175GW renewable capacity plan.
As many as 400 infrastructure projects, each worth Rs 150 crore or more, have been hit by total cost overruns of over Rs 4 lakh crore owing to delays and other reasons, according to a report of such 1,698 projects, 400 projects reported cost overruns and 578 projects time escalation.
The Inland Waterways Authority of India (IWAI) has scrapped a tender to select a private firm to operate, manage and develop (OMD) a multi-modal terminal at Varanasi on National Waterway 1 due to lack of response from bidders, dealing a blow to the government’s efforts to attract private funds in running waterway projects.
According to Shipping Minister Mansukh Mandaviya, based on the outcome of the techno-economic feasibility and the detailed project reports (DPRs) for the 106 new national waterways undertaken by the IWAI, only 20 NWs have been found technically feasible for shipping and navigation.
Finance Minister Nirmala Sitharaman said ‘periodic changes’ in GST rates should be avoided and hinted at the need for a rate rationalisation exercise to be undertaken once a year. Periodic changes in rates bring about uncertainty both for the industry and the government. Currently, the review of rates takes place once every three months at the GST Council meeting.
Granting relief to lenders and real estate developers, the Reserve Bank of India (RBI) on allowed a one-year extension of the date of commencement of commercial operations (DCCO) for project loans, which are delayed for reasons beyond the promoters’ control. However, some analysts think the measures will only provide “marginal relief” to cash-strapped realty firms.