India‘s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data showed, reflecting the second straight year of growth in shipments of the fuel despite attempts by the government to cut imports.
The buyout deals in real estate and infrastructure sectors were 2.5 times of other asset classes, said a new report by audit and consulting firm EY and the Indian Venture Capital & Private Equity Association (IVCA.)
In 2019, buyouts in real estate and infra were $11.6 billion while in other assets it stood at $4.6 billion. “While consistent growth in buyouts has been a major driver of the overall growth of PE/VC investments for the past three years, there was a slight difference in nature of the deals in 2019.
Responding to the longstanding industry demand of removing tariff caps in renewable energy auctions, the Ministry of New and Renewable Energy (MNRE) has decided that “cap or upper ceiling tariff will not be prescribed in future bids”. The tariff cap was one of the reasons cited by the industry, which slowed down the pace of adding renewable generation capacities to 8.6 giga-watt (GW) in FY 19 from 11.3 GW and 11.8 GW in FY17 and FY18, respectively. The other reasons were devaluation of the rupee, rising finance costs.
The move to do away with the tariff cap reflects not only the increasing maturity of the sector but also the government’s belief that robust bidding processed will ensure tariffs remain at reasonable levels,” said Mr Sumant Sinha, CMD of ReNew Power.
Danish energy efficiency products major Danfoss A/S’ $3.3 billion global acquisition of power management company Eaton’s hydraulics division is expected to conclude by the end of this year, said a top official of Danfoss India.
He also said Danfoss India will be investing Rs 25 crore in expanding production here and targets to close 2020 with a turnover of Rs 2,000 crore.
In a big boost to the state’s industry sector, Chief Minister Mr Naveen Patnaik on March 7, 2020 laid the foundation stone of 23 projects and inaugurated three units worth Rs 5,567 crore with a total 9,168 employment opportunities.
A solar power plant by Aditya Birla Renewables Ltd at Harabhanga in Boudh district built at an investment of Rs 352.5 crore, a vegetable oil manufacturing unit by AKM Agro at Khurda with Rs 91.5 crore investment.
Power and Renewable Energy Minister Mr R K Singh said the country needs coal-based plants for now and he is not in favour of shutting them down immediately. He also said that the much-awaited tariff policy could soon be finalised with Home Minister Mr Amit Shah-led group of Ministers agreeing to most of the recommendations at its first meeting on March 6, 2020.