Powerwatch_jan10_issue

PowerWatch www.powerwatchindia.com

COP comes a cropper

Vol 1 Issue 1 January 2010 Rs. 100

Hectic process, disappointing results

Renewables Waiting to be tapped Power IPOs Short-lived highs?

PowerWatch pwi@nextgenpublishing.net Editor Saptarshi R Dutta Editorial Advisory Board Hoshang S Billimoria Adi Engineer Amulya Charan C A Colaco Associate Editor Shilpi Aggarwal Features Writer Anwesh Koley Creative Director & Head Production Atul Bandekar Design Ajay Paradkar Image Desk Deepak Narkar, Ninad Jadhav Publisher Khushroo Bhadha Product Manager Khushraho P Kapadia Advertising & Marketing Manager Sandeep Sood

Next Gen Publishing Ltd is a Forbes Group and HDFC enterprise and has completed 5 years successfully in the field of Special Interest Publishing. In view of the vast potential for growth in the power sector, we are pleased to offer our latest B2B magazine, PowerWatch India. The magazine will present a monthly industry overview exploring many important issues facing the power industry. Next Gen is a trusted brand that spans many forms of media including publications and trade events. Our product category includes Commercial Vehicle, Car India, Bike India, Smart Photography, The Ideal Home and Garden, Computer Active and FHM to name a few. Marketers interested in reaching professionals in the power generation industry can look forward to PowerWatch India to reach the marketplace.

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Tel: +91-20-32930291 Fax: +91-20-26830465 © 2010 Next Gen Publishing Ltd (NGPL). All rights reserved. Published with the permission of NGPL. Reproduction in any manner in any language in whole or in part without prior written permission from NGPL with regard to their content is prohibited. Published by Khushroo Bhadha on behalf of Next Gen Publishing Ltd., 2nd floor, Khatau House, Mogul Lane, Mahim (W), Mumbai - 400016. Printed by Khushroo Bhadha Next Gen Publishing Ltd., 2nd floor, Khatau House, Mogul Lane, Mahim (W), Mumbai - 400016. Printed at Kalajyothi Process Pvt. Ltd, 1-1-60/5 RTCX Roads, Hyderabad - 20. Published at Next Gen Publishing Ltd., 2nd floor, Khatau House, Mogul Lane, Mahim (W), Mumbai - 400016. Newsstand distribution - India Book House Editor: Saptarshi R Dutta

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2 POWERWATCHINDIA Jan,2010

Editor’s note Editor’s note T

hese are exciting times for the Indian power sector. Predominantly the state’s turf till as recently as the late 1990s, India’s most dynamic infrastructure domain is witnessing rapid transition. Reforms, policy changes and regulatory efforts have created an upbeat mood within investors, developers and sector analysts. A lot has been achieved, but a lot more needs to be done.

With a total installed capacity of 155,859.23 MW (according to the Central Electricity Authority, as of end-November 2009), and equally impressive targets (78,700 MW of capacity by the end of the Eleventh Five Year Plan), the country is a powerhouse of gargantuan proportions, presenting business opportunities for an intricate value chain – power gencos, transcos, discoms, EPC contractors, equipment manufacturers, IT service providers and numerous other stakeholders. Recent activity on the bourses attests to the fact that just about every business behemoth wants to sink its teeth into this pie.

“Why a power sector magazine?” – we asked ourselves at Next Gen. The answer seemed to lie in an interesting mix of factors. While there are indeed an umpteen number of publications targeted at this rather niche space, we realized there wasn’t any that positioned itself as much as an industry player as it was a commentator on sector developments. The power sector is a dynamic one. It needs a magazine it feels one with. A magazine that is as much a launch pad for a new project, product or service, as it is a podium where issues confronting the sector may be addressed by the sector’s own professionals. A magazine that sheds the comforting cocoon of pureblood business publications. This is what PowerWatch India aims to do – to catalyze change in the power industry. And this is just the beginning.

Saptarshi R Dutta Editor

PowerWatch Editorial Advisory Board HOSHANG S BILLIMORIA HOSHANG S BILLIMORIA is the CEO of Next Gen Publishing Limited.

A Chartered Accountant trained in the UK, Hoshang started his career in India with S. B. Billimoria & Company, Chartered Accountants, and was a partner in the firm for 10 years. He moved to Tata Sons as Deputy CEO and then to Tata Press, where he became Vice-Chairman and MD. With him at the helm, Tata Press saw 14 successive years of increasing profits. Tata Press Yellow Pages was his brainchild as were other special interest magazines.

Hoshang is an Independent Director on the board of companies like Thomas Cook India, HDFC Asset Management Company, Gokak Textiles, Fenner Conveyor Belting Ltd. etc.

ADI ENGINEER ADI ENGINEER is a leading technocrat, best known for his successful stint as Managing Director of Tata Power. He is currently Chairman, NDPL. As MD of Tata Power, he took the company pan-India. He was the chief architect of the first public-private partnership in power transmission between POWERGRID and Tata Power, for the 1,200-km transmission line from Tala, Bhutan. He has also been closely associated with Tata Power’s 4,000 MW Mundra UMPP. As Chairman, NDPL, he has turned the company around, reducing AT&C losses from almost 53% to 15% in just seven years.

Adi has a degree in civil engineering from Pune University. He is Ex-Chairman of CII’s Committee on Power, he is also Director on the boards of Tata BP Solar, Tata Projects, Tata Power and Finolex Cables.

AMULYA CHARAN AMULYA CHARAN is the Managing Director of Tata Power Trading Company.

Starting out with NTPC in 1983, he eventually headed its Corporate Planning division. With the sector’s unbundling, he moved to POWERGRID as Head, Corporate Planning. He was later nominated by the World Bank as a Director of the Grid Corporation of Orissa-India’s first unbundled SEB. A mechanical engineer from the University of Roorkee, he has a PGDBA from IIM Ahmedabad.

Amulya Charan has participated and presented papers in several international conferences, the latest being the IERE TIS-Asia-SC meet at Tokyo in October 2008.

C A COLACO A 45 year-long veteran of the power industry, C A COLACO is presently Advisor to the MD, Tata Power, and member of the company’s senior leadership team. An electrical engineer from Mumbai University and a member of the former IEE, UK, he trained with Mather & Platt and GEC-AEI (now Alstom).

A design, construction, commissioning and O&M specialist, he has also worked on regulatory and legal aspects of the business, especially in reform and restructuring of India’s power sector.

Mr Colaco is a regular contributor to various publications in the business media.

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Jan,2010 POWERWATCHINDIA 3

PowerWatch www.powerwatchindia.in

tête-à-tête - Center spread interview - Light/chatty tone - Interviewee: Key policy maker, analyst, private sector professional, etc.

Body Text cs

Statisti

Tables

Story Coveerd on a Bas e l them centra

Blurbs

PowerWatch www.powerwatchindia.com

Vol 1 Issue 1 January 2010 Rs. 100

s

Quote

COP comes a cropper

Hectic process, disappointing results

Renewables Waiting to be tapped Power IPOs Short-lived highs?

Dispatches

Switch Gear

- National News - International news

Key movements of: - Industry people, Power companies - Trace JVs, M&As

Pg 6

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4 POWERWATCHINDIA Jan,2010

Inside View Written by guest editor: - Analyst, policy-maker, regulator, investor, equipment manufacturer, etc.

Content Structure Pg 10

On-site

Tech’tonic

- Important project updates.

- Power sector company profiles - Special ongoing projects

- Power equipment and technologies.

- Short series of developments - Special section: Tech Shootout - comparing competing technologies

Pg 22

Green Ahead - Renewables - CDM - Clean coal technologies, etc.

- Case Studies - Interview with person from organization with a ‘green’ initiative

Pg 15

Money Matters - Finance special - IPOs, JVs, QIPs, funding deals, etc.

- Fin deals - news listing

Pg 19

Nuclear Watch - Understanding India’s strategy - Tracking upcoming projects - Market watch on equipment providers

Spotlight Section focusing on a particular aspect of power - generation, transmission, distribution, cogeneration, power equipment, captive power, etc. Will carry overview, case study and interview Vital Stats

Statistics on generation, transmission, distribution, AT&C losses, etc. Stock position of power companies. Coal position, fuel linkages, other data. Pg 28

Advertorial Section for classifieds, tenders, adverts, etc.

Regulatory Review Understanding a new regulation/explaining

an existing

regulation. Will have a sector expert or a panel of experts comment on the regulation.

Specials

On power trading, industry bodies, SEBs, future technologies, corporate social responsibility (CSR Watch Pg 28), etc.

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Jan,2010 POWERWATCHINDIA 5

Dispatches

National National

Capacity addition target missed clearances. The target of adding 139 MW of hydro generation capacity in the first half of the current financial year was missed by over 70 per cent.

A positive bleep on the energy radar though - this 73 per cent achievement has been the highest in the past four years.

The Central Electricity Regulatory

he

mal

le a N uc r

Installed capacity remains as low as 3 per cent of the overall power capacity.

CERC seeks explanation on traders’ role 139 MW of addition planned for first half of current fiscal; missed by over 70 per cent.

Exchange India Limited (PXIL) to amend their business rules and by-laws to clarify their members’ roles.

In July this year, Tata Power Trading, the electricity trading arm of largest private power generator Tata Power went to CERC accusing the exchanges of allowing some of their members to function like power traders, allegedly without any licence.

Taking note, CERC has now asked the exchanges to amend their rules and bylaws to incorporate the role of members as defined by it, to avoid “ambiguity”. The members without trading licence may only provide information technology (IT) infrastructure, advisory services and act as “facilitators” for delivery of power, the regulator has clarified. They would not be able to take up any financial obligation on their clients’ behalf.

CERC is currently working on a proposal to formulate norms for functioning of power exchanges in India. The regulations, a draft of which is currently being discussed, are likely to be announced by the commission soon.

dro

Over 8,200 M W of capacity addition planned for January-November 2009; only about 6,600 M W added.

Hy

Power capacity addition has fallen short by over a fourth of target in current calendar year 2009, owing to delays in supply of critical components for thermal projects, delayed forest clearances and non-availability of fuel for nuclear projects.

Data available from the Central Electricity Authority (CEA) reveals that around 6,900 MW about 73 per cent of the targeted addition of 9,403 MW - was added in the 11 months ended November 2009.

While commissioning of thermal plants has slipped owing mostly to delays in the supply of critical components like Balance of Plant (BoP) equipment, nuclear units have been delayed owing to fuel availability issues.

An indication in numbers - while over 8,200 MW of thermal power capacity was planned to be set up between January and November this year, around 6,600 MW has been added so far.

On the nuclear side, the installed capacity of nuclear power plants still remains as low as 3 per cent of the overall power capacity.

For hydro projects, the lag in commissioning has been due to delays in obtaining forest

Source: CEA

Commission (CERC) has directed Indian Energy Exchange (IEX) and Power

CERC proposes congestion charge on states In an effort to reduce power congestion in real-time operations, CERC proposes to impose a congestion charge on states as a commercial measure.

According to its draft regulation, the congestion charge will be paid by a regional entity or entities, causing congestion in the interregional link or intra-regional link, to a regional entity or entities relieving congestion.

The proposal comes following reports of northern states reeling under frequent power cuts and rising peak power rates due to increasing congestion in the grid.

The congestion charge would be payable by the overdrawing regional entity in addition to the Unscheduled Interchange (UI) charges.

CERC may, from time to time, specify the rate of congestion charge

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6 POWERWATCHINDIA Feb,2010

applicable to the whole or a part of the region.

Before imposing the congestion charge, the National Load Despatch Centre (NLDC) and the Regional Load Despatch Centre (RLDC) would issue a warning notice to the defaulting entities.

This would be done when both the organisations arrive at an opinion that the flow of electricity on an inter-regional or intraregional corridor or link, used for transfer of electricity, has crossed the stipulated corridor or link.

If the flow of electricity on the inter-regional or intra-regional corridor or link exceeds the limit of withdrawing power from the grid, the NLDC or RLDC may decide to apply congestion charge on the defaulting entities from a particular time-block.

Congestion in northern states was severe during the months of June, July and August 2009, occurring on 86 days out of the total 92.

EIL looks to set up gas-based projects State-owned Engineers India Limited (EIL) plans to enter the gas-based power project business as an engineering, procurement and construction (EPC) firm and a consultant, positioning itself to take advantage of the expected surge in the domestic output of the fuel. India has a power generation capacity of 152,360 MW, of which 10.8 per cent, or 16,822.85 MW, is gas-based.

The leading engineering and technical services provider is expected to face competition from other companies in the space such as Bharat

Azure Power launches India’s first privately operated MW-scale solar power plant

The first privately operated, utility scale solar power plant in India was recently inaugurated by the Union Minister of New and Renewable Energy, Government of India, in Awan, Punjab. The 2 MW (1 MW commissioned) photovoltaic (PV) project Built, Owned and Operated (BOO) by Azure Power, an American Independent Power Producer (IPP), is the first privately operated MW scale solar power plant in India.

The National Solar Mission targets just under 20,000 MW by year 2022, from solar power, with a short term target of 1,300 MW in the next three years.

Located in the village of Awan in Punjab’s Amritsar district, approximately 40 kilometers from Amritsar, the solar PV field will provide electricity to approximately 42 villages around Awan, under a 30-year power purchase

agreement with Punjab State Electricity Board. This is part of the pioneering efforts of the Government of Punjab in promoting solar power generation through private participation. The plant will help power 4,000 rural homes, totaling 20,000 people, while eliminating as much carbon dioxide pollution as 535,000 trees do annually. The project is facilitated & supported by PEDA (Punjab Energy Development Agency) and the Ministry of New and Renewable Energy, GoI. With the launch of this project, the PEDA has taken a major leap forward in its endeavor to put up solar PV power projects in the MW scale in the state.

Azure Power is India’s first solar power IPP. The project exploits the solar passive concept, whereby natural ventilation, passive cooling and daylight are optimally utilized. Power from the plant is transmitted directly to a substation in the local community, thereby nullifying transmission and distribution losses. A total investment of Rs 19 crore has gone into commissioning the 1 MW output. The U.S. Overseas Private Investment Corporation (OPIC) helped finance the project.

In addition to Punjab, Azure Power has already inked agreements with governments of Gujarat and Haryana and is also in talks with

Heavy Electricals Limited (BHEL), Reliance Anil Dhirubhai Ambani Group’s Reliance Infrastructure Limited (RInfra), BGR Energy Systems, Larsen and Toubro Limited and even Chinese companies such as China National Machinery and Equipment Import and Export Corporation and Shandong Electric Power Construction Corporation (Sepco).

EIL, which plans a partnership with an equipment manufacturer, has decided to enter the business in view of the prospect of gas discoveries and its status as a clean-burning fuel.

Incentives for Wind Power Generation The The MNRE has announced the implementation of incentives for grid-connected wind power projects providing cleaner power.

“Providing 0.50 rupees per unit is huge if you compare it with existing wind power generation costs.”

Wind electricity producers will now receive a generationbased incentive of Re 0.50 ($0.01) per unit of electricity fed into the grid. The government will spend about Rs 3.8 billion on subsidies under the new scheme.

Speaking to reporters, Debashish Majumdar, chairman and managing director, Indian Renewable Energy Development Agency said, “Providing 0.50 rupees per unit is huge if you compare it with existing wind power generation costs. The average price of wind power in India is currently about Rs 3 per unit.”

Installed wind power in India stands at 10,500 MW, of the country’s total capacity of 15.59 GW. The new scheme would be implemented parallel to other existing incentive schemes for wind power in the country, allowing producers to seek accelerated depreciation on their investments.

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Jan,2010 POWERWATCHINDIA 7

Cover Story

C P Comes a Cropper Hectic process, disappointing results

U

S President Barack Obama would like to think of it as a “historic step forward” in reaching a global consensus on climate change issues.

In truth, however, COP15 proved to be no more than a modern day Babel. There has been no Kyoto rerun with legally binding emissions targets. Lofty promises and fine words aside, Copenhagen also established that the gap between the stances of the developed and the developing world, in confronting the most urgent issue of our times, has only widened. Was this fallout only to be expected?

The issue in question was possibly

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8 POWERWATCHINDIA Feb,2010

the most pressing since the global reconstruction at the end of the Second World War. Our planet’s climate is changing. In the past century, the global average temperature has risen by about 0.7 degrees Celsius. Scientists in the Intergovernmental Panel on Climate Change (IPCC) say that this is 90 per cent likely to be due to human activities that emit greenhouse gases, such as power generation, deforestation, transport, agriculture and industry. The IPCC warns that impacts are already being felt and further changes could be ‘abrupt or irreversible’. They suggest global greenhouse gas emissions must decline rapidly if we are to avoid a

dangerous increase in temperature.

The summit itself saw the development of a veritable battleground with lines drawn between the developed and the developing world. While the greatest responsibility for causing climate change because of their combined current and historical greenhouse gas emissions lies with the developed world, they also have the highest emissions per person today, and greater financial and technological means to address the problem.

But some developing nations such as China and India now have very large and growing emission levels, and developed nations want them to share the burden of mitigation …

Buildings

Pressures on housing from flooding, water shortages and overheating

Less need for winter heating but more demand for summer cooling Increased health problems from flooding

Public Health Natural Environment

Changed distribution of insect home and infectious diseases

Sea level rise threatens cities

Summer heat related deaths Substantial burden on all aspects of health service

Risk of loss of plant and animal species

+ 2°C target + Quantified and economy wide + Increased frequency and

Number of new plant and animal species arriving

Continued warming of sea leading to changes in fish stocks with impacts on sea birds

Is it a good deal?

emission targets for all developed countries improved methodology for the communication of developing countries mitigation actions

+ Verification of developing

Radical change in ecology and landscape

countries mitigation actions through international consultations and analysis

Increased risk from storms, inland and sea flooding and coastal erosion

Water

+ Fast start finance amounting to Increased risk of drought, reduced river flows in summer and more water quantity problems

Opportunity to grow new crops

Food Global Climate Change

Increased disruption to national infrastructure from flooding, storms, heatwaves, sea level rise

Extensive damage of coral reefs

+ Developed countries set a goal

Increase in crop yields

Reduction in viable agricultural land due to coastal erosion and water shortages

Increasing disruption to global environment with 20-30% of species at high risk of extinction

30 billion dollars for the period 2010-2012

Changes and disruption of supply chains (food, energy, raw materials)

Increasing number of people at risk from sea level rise and hunger

for mobilizing jointly 100 billion dollars a year by 2020 to address the needs of developing countries

Decreasing crop yields

Major extinctions around the globe

Worldwide increase in deaths from heatwaves, floods and draught6s

20C

30C

40C

50C

Temperature change relative to pre-industrial levels

Key points on the road to Copenhagen Rio: The UN-climate change negotiations take place under the UN Framework Convention on Climate Change (UNFCCC), an international treaty created at the Earth Summit in Rio de Janeiro, Brazil, in 1992 to prevent dangerous climate resulting from emissions of greenhouse gases. A total of 192 Parties have ratified the UNFCCC and it entered into force in 1994, Under the Convention, nations agreed to protect the climate system for present and future generations according to their ‘common but differentiated responsibilities and respective capabilities’ meaning that developed countries ‘should take the lead in combating climate change and the adverse effects thereof’.

Kyoto: In 1997, Parties to the UNFCCC added the Kyoto Protocol. This created the first and only legally binding targets for developed nations and important international monitoring, reporting and verification mechanisms to enforce

compliance. It obliged developed nations to reduce their emissions to an average 5.2 per cent below 1990 levels between 2008 and 2012. To help achieve this, the protocol created ‘flexibility mechanisms’- such as carbon trading and the Clean Development Mechanism (CDM), which allows developed nations to reach their targets by investing in emissions reductions in developing nations.

The Kyoto Protocol has been ratified by 189 governments and entered into force in 2005.

The United States, however, has been ratified the Protocol and thus has no international commitments to reduce its emissions. This disconnect between the world’s biggest historical; contributor to climate change and the rest of the parties the the UNFCCC is a major contributor to climate change and the rest of then parties to the UNFCCC is a major barrier to an effective agreement at COOP15 (see ‘Killing Kyoto? Risks along the way’) Bali: In 2007 the parties to the UNFCCC adopted

to study how to tap alternatives sources of finance

- No reference to a future legally

Conflict and displacement- tensions over scarce resources

10C

+ Creation of a High Level Panel

binding instrument at any point in time

- Bottom up approach to setting targets resulting in a great inconsistency between the long term goal and short term targets

- Not translated into a 50% the Bali Action Plan. This opened a new negotiation track under the UNFCCC I an effort to bring the United States into line with other developed nations, who were asked to continue the Kyoto track by negotiating targets for the protocol’s second commitment period, which would start in 2013. Under the plan, parties to the UNFCCC must reach agreement in five main areas by the end of COP15: a shared vision of what parties to the Convention aim to achieve, including a long-term goal for emissions reductions; mitigation of climate change by reducing the atmospheric concentration of greenhouse gas emissions, including quantified ‘commitments’ from developed nations and nationally appropriate mitigation ‘actions’ (NAMAs) from developing nations, including through reduced deforestation; adaptation to impacts such as changing rainfall patterns, extreme weather events, rising sea levels and shifting patterns of disease; technology transfer and development to support both adaptation and mitigation; and finance and investment to pay for all of the above.

reduction of global emission 2050

- Weak section on adaptation, where response measures are put on an equal foot with the impacts of climate change

- No figures for developed country targets before the 1st of February 2010

- No decision taken on the future of the Kyoto Protocol

- No comparability between the US and KP parties

- No quantified goal for the reduction of emissions from deforestation and forest degradation

- Only 25.2 billion dollars have been pledged, with an unfair burden sharing (US contribution=1/3 of Europe’s) and no guarantee on the fact that these are new and additional resources

- No alternative sources of finance tapped

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Feb,2010 POWERWATCHINDIA 9

Tech’tonic

Raining Orders Surge in demand for power equipment

T

he order books of power equipment and service providers is swelling with the government allowing NTPC Limited and Damodar Valley Corporation to place orders for an additional lot of Rs 40,000 crore, reserved for domestic companies only.

Public sector major Bharat Heavy Electricals Limited is already sitting on an order book of Rs 1,24,000 crore and is poised to double its manufacturing capacity to 10,000 MW before the end of 2009 and to 20,000 MW by 2011, just to meet current delivery timelines.

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10 POWERWATCHINDIA Jan,2010

Larsen & Toubro’s (L&T) joint ventures (JVs) with Mitsubishi Heavy Industries of Japan for supercritical boilers and steam turbine generators are only in the construction phase, but the company has already bagged a 2x800 MW steam turbine generator order from the Andhra Pradesh Power Development Corporation and Rs 4,000 crore worth of orders from the Jaypee Group for a 2x660 MW power project at Nigrie in Madhya Pradesh.

L&T is investing around Rs 1,700 crore in the JVs with Mitsubishi at Hazira in Gujarat and another Rs 1,600 crore in building

manufacturing capabilities for other allied power plant equipment and solutions.

While the order inflow in the entire first quarter of 2009-10 for L&T was Rs 9,500 crore, it bagged another Rs 12,000 crore in August.

Reportedly, so far, orders for about 45 supercritical units of about 45,000 MW capacity have been placed by various power project developers. Of these, a majority are with overseas players, mainly Chinese companies.

BHEL has tie-ups with Alstom and Siemens for manufacturing supercritical boilers and turbines.

L&T-Mitsubishi, JSW-Toshiba,

Tech’tonic Bharat Forge-Alstom and AnsaldoGB Engineering JVs are also building supercritical capacities in India.

Pune-based energy and environment solutions major Thermax’s order book stood at Rs 3,230 crore for the June quarter, 22 per cent more than the Rs 2,649 crore in the corresponding quarter of last year.

Thermax recently teamed with USbased SPX Corporation to set up a joint venture for manufacturing air pollution handling systems for power plants, a niche area which lacks many manufacturers in India.

ABB India, the Bangalore-based power solutions provider, also has an order book of Rs 76,223 crore, more than that of L&T. It mobilised Rs 21,116 crore of orders in the quarter ending June 2009, and the majority are for electrical equipment and solutions.

Industry sources said due attention and investment have to be done in the transmission and distribution (T&D) sector to handle power evacuation issues once the new power plants start generation. Inadequate T&D capacity will cause grid stability issues once the large power projects start generating. Wartsila foresees huge growth potential in the coming years in this segment.

Orders are also flowing for engineering, procurement and construction players and other Balance of Plant players. Even relatively smaller players such as BGR Energy, IVRCL Infrastructures and Simplex Infrastructure have a huge order backlog. BGR Energy has Rs 12,500 crore of orders at hand and IVRCL Infrastructures and Projects has Rs 15,000 crore worth, mainly from the power sector.

Similarly, power transmission players such as KEC International, Jyoti Towers and Kalpatharu Power Transmission are also having an unprecedented order backlog.

Kalpatharu’s order book is at Rs

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4,800 crore, including Rs 2,000 crore from overseas, and the company expects a growth of 25-30 per cent for the year. The RPG Grouppromoted KEC International, one of the largest power transmission players in the world had, last week, bagged a major order worth Rs 780 crore. Its order book position, the best in its history, was close to Rs 5,155 crore for the quarter ended June. The company is confident of keeping the momentum in growth in the years ahead, according to its managing director and chief executive Ramesh Chandak.

China sets base Chinese power equipment players are also entering the space in a rather big way. For instance, with its Indian client base increasing, Chinese power equipment manufacturer Harbin Power Engineering is considering setting up a service centre in Tamil Nadu.

The company has orders worth $450 million in India. It is first looking at setting up a service facility, then at building a power equipment plant in the country. Harbin Power is the company that will be supplying the boiler turbine generator for the 1,200 MW thermal power project promoted

by Coastal Energen in Tuticorin. The company has already supplied power generation equipment to power projects of Essar and Balco and has signed an agreement with the Adani group.

The company will venture into India on its own and not partner with any Indian company.

Lingering concerns With the growing participation of Chinese companies in the space, flags on security and other concerns are being raised. The issue of protecting the interests of domestic companies also remains. The heavy industries ministry has been discussing with the finance ministry a move to impose safeguards duty on such items to protect

12 POWERWATCHINDIA Jan,2010

CEA estimate of electrical equipment for planned thermal generation during 2007-2017 Item

GT ST UT ICT Misc. service Transformer 20 MVA Auxiliary Transformer 33kV Switchgear 11 kV Switchgear 6.6 kV Switchgear 3.3 kV Breaker HT Motors LT Motors LT Transformers LT MCC Panels 415 V Switchgear Panel DC Battery Battery Charger 33kV Single Core Cable (km) 11kV Single Core Cable (km) 11kV Multi Core Cable (km) 6.6kV Single Core Cable (km) 6.6kv Multi Core Cable (km) 3.3kV Single Core Cable (km) 3.3kV Multi Core Cable (km) HT Power Cable LT Power and Control Cable (km) Gen. Circuit Breaker 1.1kV Power Cable (km) 1.1kV Control Cable (km) Emergency DG Set 1500KVA

Total requirement for coal/ lignitebased plants

508 183 301 56 82 533 416 8,621 6,336 8,658 21,064 210,470 5,323 50,249 15,025 916 1,150 156 2,069 2,550 1,056 1,056 1,196 1,144 38,316 69,859 274

domestic manufacturers. At present, 21,519 mw of capacity - both in thermal and hydro - is being implemented using equipment from China. About 1,200 MW out of this capacity is being implemented in the central sector, 3,594 MW in the state sector and 16,725 MW in the private sector.

Indian power producers have sourced equipment from China worth Rs 250,000 crore in the past one year. Business chamber Assocham recently said in the last one year, domestic manufactures had lost supply opportunities aggregating 50,000 MW.

Total requirement for gas/ LNG-based plants 34 18 279 117 324 90 153 63 99 1,800 4,500 54 16

Total

542 183 319 56 82 533 416 8,621 6,615 8,658 21,181 210,794 5,413 50,249 15,178 979 1,249 156 2,069 2,550 1,056 1,056 1,196 1,144 1,800 4,500 54 38,316 69859 290 Source: CEA

The 2008-09 Economic Survey had also raised concerns over zeroduty import of power generation equipment. In contrast, locally manufactured equipment, even after getting `deemed export’ status, attract duties and taxes of nearly 6 per cent whereas Chinese manufacturers get plenty of government incentives.

Chinese imports have been creating several problems for state-run BHEL. There have been reports that many private power producers are using cheap Chinese power equipment, instead of those supplied by domestic players such as BHEL.

CSR Watch

Going Socially Responsible As ‘giving back to society’ is fast becoming the buzzword for Indian corporates, Power companies are in rush to do their bit…

W

ith organisations worldwide increasingly making environmental and social responsibility an integral part of their strategic objectives, how can India Inc remain indifferent? The concept of Corporate Social Responsibility (CSR) is not new to India. There are corporate honchos like Tata and Birla that were imbibing the case of social good in their operations long before the term CSR was coined here.

nies are investing heavily in campaigns to drive ethical brands and business practices into the mainstream; they are more vocal about their commitment to CSR. To be sustainable, more and more power companies are now embracing a relatively new objective: optimizing their operations to minimize environmental impact and improve social outcomes in a manner that maximizes performance. This approach is gaining momentum.

The government of India has been paying attention to CSR more than ever before and is determined to encourage corporate houses to put CSR at the core their businesses. Besides, mandatory shelling out up to 2 per cent of their net profit for profit making PSUs across sectors towards CSR work, the government is planning to come up with incentives for companies that spend beyond a limit on CSR activities. In fact, many major Power compa-

Companies in power sector deal with issues related to Environment and Occupational Health & Safety (OHS) and work to make their operations environmentally acceptable, and to provide safe and healthy environment to all its employees and society they are operating in. This comes with a realization that they have obligations to their multiple stakeholders—the wider community—from which they draw their resources. Today, in power sector,

there is a greater acknowledgment that business has not just financial accountability but also social and environmental responsibility—known as the triple bottom line of good governance.

As part of CSR activities, companies generally undertake socio-economic and community development programmes in villages/towns located in the vicinity of their manufacturing plants and project sites, in the areas of education, health management, drinking water facilities, non-conventional energy management, support to physically/mentally challenged children, disaster management and contribution to PM’s Relief Fund, besides area development, including environment conservation. This way, they also help government to focus its resources on the needy and manage development more effectively.

They have dedicated CSR teams that

devise specific policies, strategies and goals for their CSR programs and set aside budgets to support them. These programs, in many cases, are based on a clearly defined social philosophy or are closely aligned with the companies’ business expertise. Employees become the backbone of these initiatives and volunteer their time and contribute their skills, to implement them. Majority of the companies choose NGOs for their CSR implementation as NGOs are well versed in working with the local communities and are experts in tackling specific social problem while some prefer government departments for the spread of CSR obligations. Companies have a choice to prepare a separate CSR report or to report their CSR activities in their annual report. International power companies generally report CSR in their annual reports.

Though now-a-days, almost every power company has a corporate social responsibility program. Some of the outstanding works in community development are done by BHEL, NTPC Limited, NHPC Limited, L&T Power, Reliance Power. BHEL has adopted villages where they focus on holistic development. Reliance Power has undertaken education initiatives for students; health initiatives like cleft lip operation camp and cervical cancer detection; infrastructure development initiatives like lighting the streets and sea beach beautification under their social obligation program.

CSR has undoubtedly come a long way in India. From responsive activities to sustainable initiatives, corporates have clearly exhibited their ability to make a significant difference in the society and improve the quality of life. In the current social situation in India where it is difficult for government alone to bring about a change due to the enormity of the scale, corporates certainly have the expertise, strategic thinking, manpower and money to facilitate extensive social change.

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Jan,2010 POWERWATCHINDIA 13

CSR Watch BHEL’s CSR Activities • BHEL adopted 56 villages having nearly 80,000 inhabitants.

• The company has also joined the United Nations’ (UN) ‘Global Compact’ - a partnership between the UN, the business community, international labour and NGOs - for promoting good corporate citizenship.

• BHEL is a member of CoRE (Corporate Roundtable on Development of Strategies for Environment) launched by The Energy Research Institute (TERI).

Reliance Power’s CSR Activities

Larsen & Toubro’s CSR Activities

NTPC’s CSR Initiatives

• The Bombay Chamber of Commerce and Industry awarded L&T Good Corporate Citizen Award in 1994-95.

• In July 2002, the Federation of Indian Chamber of Commerce and Industry’s Socio-economic Development Foundations (FICCI - SEDF), Delhi presented appreciation certificate to L&T for programmes concerning women’s empowerment, helping the elderly and AIDS prevention/control program of the company.

Educational Initiatives

• The company has constructed an Anti Sea Erosion Bund with a length of 700 meters at Diwa Dandi.

• Construction of Water Storage check dams under ground water conservation programme at Saravali / Savata / Ashagad villeage around Dahanu.

• The Fly Ash Brick making project was instituted in 1995 and provides employment to many tribal youth.

• Mobile dispensary van for local tribals for serving community in far lung areas under Vanvasi Kalyan Kendra , Talasari.

• Establishing DTPS Junior College of Science in the year 1998. and DTPS junior college of Arts in 2004.

• The Building and handing over of 8 Municipality schools to the Zilla Parishad at Dahanu.

• The construction of an Audiometric Room & Computer lab for Dumb and Deaf school children.

• An annual program that has been in place since 1995, under school children are given Stationary & Educational material free of cost.

• The Annual Best Teacher Award in association with the Rotary Club. This program has been in place since 1995 and over this

• For green power development, NTPC is adopting supercritical and ultra-supercritical technology, suitable fuel mix, developing technology for CO2 utilization and focusing on renewable.

• NTPC is supporting the DOTS programme for diagnosis and treatment of TB patients by providing mobile laboratory and testing facilities.

• NTPC Foundation has established ICT Centre for physically handicapped people at Delhi University. ICT Centre for visually handicapped are established at Mysore, Trivandrum, Lucknow, Ajmer also.

period 50 teachers have been conferred the Award.

• Institution of the Merit Scholarship for Eng. and Medical Students since 1998 in association with Rotary Club. Eight students have been awarded this scholarship to date.

• A Scholarship for tribal students from the Industrial Training Institute, Vanagaon, was instituted in 1990, for promoting enrollment in vocational courses.

• An ongoing program to distribute note books at subsidized rates. This initiative is undertaken by the company in association with the Rotary Club and has been in place since 1995.

Reliance Power’s CSR Spendings Year

Education Expenses (in Rs.)

Health Expenses (in Rs.)

Community Expenses (in Rs.)

Total ( Rs. )

2000

11,24,469/-

55,300/-

30,39,498/-

42,19,267/-

2001

3,03,028/-

1,36,646/-

3,16,520/-

7,56,194/-

2002

5,42,608/-

1,22,700/-

75,95,638/-

82,60,946/-

2003

2,74,000/-

5,75,000/-

5,87,767/-

14,67,767/-

2004

1,47,000/-

1,59,397/-

26,91,457/-

29,97,854/-

2005

5,05,000/-

45,724/-

25,37,520/-

30,88,244/Source: Company website and reports

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14 POWERWATCHINDIA Feb,2010

• For enhancing employability of the village youth, NTPC has adopted 17 ITIs and is starting 6 new it is.

Awards The NHPC’s CSR Initiatives has well recognized with reputed Awards/Recognitions like SCOPE Meritorious Award for Corporate Social Responsibility and Responsiveness, Power HR Forum Award for Best Practices as a Corporate Citizen, AMITY Award for Best CSR Practices, Golden Peacock Award for Environmental Excellence, GreenTech Environmental Excellence Award, SRISHTI Awards for Good Green Governance etc.

Health Initiatives • The company sponsors an annual Eye Check Up and Cataract Operation Camp, in association with the Lions Club.

• Since 1996, the company has been an active participant in the Annual Pulse Polio Program.

• To ensure supply of clean and fresh drinking water, the company has undertaken construction & maintenance of 70 Tube Wells in 30 villages. This has brought welcome relief to the villagers who previously had to walk long distances to get fresh drinking water.

Awards Reliance Energy’s Dahanu Thermal Power Station has won the Golden Peacock award for corporate social responsibility for the year 2007.

So far company has spent more than 3 crores of rupees as a part of CSR activities.

Green ahead

Waiting to be tapped Country needs to get act in place, if renewable generation targets are to be met

G

oing Green has been an oft used refrain for nations across the globe for years together. The 15th United Nations Climate Change Conference (COP15) (at Copenhagen, Denmark, from 7th to the 18th of December, 2009) saw representatives unanimously opt for cleaner and greener means of living which brought to light the

stark reality of heavy dependence of nations on non-renewable and environmentally degenerating means of sustainability. The focus has shifted considerably towards the broader implementation of policies which ensure adherence towards usage of renewable energy.

India’s consistent performance in

the All Renewable Index (ARI) as a high-rated destination for renewable energy highlights the potential of the country in providing solutions to its energy problems. The ARI is Ernst & Young’s Renewable Energy Country Attractiveness Index, which ranks countries based on regulatory environment, financial support, unexploited resources, adaptability

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Jan,2010 POWERWATCHINDIA 15

Green ahead to different technologies and other factors determining renewable energy growth.

As the country witnesses a high peak deficit of 12-13% and a sustained energy shortage of 68%, the demand and supply gap can be bridged to a large extent through renewable energy sources.

With India committing to reduce its carbon emissions by 20-25 per All India Electricity Generation Capacity (MW) of Power Stations RES 9% Coal 52%

Hydro 25%

Nuclear 3% Diesel 1%

Gas 10% RES: Renewable energy sources

cent by 2020, the government is even considering participating in a carbon capture and storage (CCS) initiative in Australia. A circular in this regard, initiated by the power ministry, is being circulated amongst concerned ministries. CCS is a way of reducing emissions from fossil fuels by capturing carbon dioxide from large point sources, such as coal power plants, and storing it away from atmosphere by different means.

Till date, there have been only smallscale trials of various technologies which come under the umbrella of CCS. The initiative, launched in May 2009, proposes to accelerate at least 20 fully integrated industrial demonstration projects around the world by 2020. The Australian government plans to bring together researchers, industry consortia and governments to invest in and develop commercial CCS projects.

With the primary source of energy in the country still being coal, followed by natural gas, India’s dependence on renewable energy is yet to achieve commendable

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16 POWERWATCHINDIA Jan,2010

heights. “We are importing coal and will continue to import it in the future,” said Commerce Secretary Rahul Khullar. Quality also continues to be an issue with the domestic producers with Indian coal not being of first grade quality.

However, the achievements of India are more on account of its untapped energy potential. With a total installed wind based capacity of 10,464 MW, wind energy can be successfully implemented in generating power in areas where it is readily available. For instance, Tamil Nadu is the largest producer of wind energy in India at 4301.63 MW. It is followed by Maharashtra at 1942.25 MW. Gujarat (1565.61 MW) and Karnataka (1340.23 MW) are the other producers, which have enabled India to become to fifth largest wind producer in the world. However, out of the total installed capacity, nearly 35,000 MW is yet to be tapped.

“India has the world’s largest program for renewable energy,” said Farookh Abdullah, Minister for New and Renewable Energy, while inaugurating the country’s first commercial solar PV unit at Asansol recently. “Vigorous efforts during the past two decades are now bearing fruit as people in all walks of life are more aware of the benefits of renewable energy, especially decentralized energy where required in villages and in urban or semi-urban centers,” he added. The government has shown concern and eagerness in reducing dependence on depleting resources.

Another source which the country can boast of is solar energy. Solar water heaters have proved the most popular so far and solar photovoltaics for decentralized power supply are fast becoming popular in rural and remote areas. More than 700,000 photovoltaic (PV) systems generating 44 MW have been installed all over India.

The estimated potential generation from solar energy is 20 MW per

Green ahead square metre. However, tapping this vast resource for commercial PV power generation requires strong research and development (R&D) support, demonstration programs and creation of a manufacturing base that can serve the high demand areas.

Though PV systems enjoy advantages like durability, reliability and low maintenance, the high initial cost of the equipment they require discourages their largescale commercialization.

The Government of India, therefore, has launched several schemes for the phased commercialization of PV technology.

In order to encourage the use of PV power, IREDA and the Ministry of Non-conventional Energy Sources (MNES) have formulated innovative financing mechanisms for the commercialization of PV technologies so that endusers can afford to purchase the necessary equipment. IREDA uses intermediaries to provide loans to consumers. The Indian Renewable Energy Development Agency (IREDA) offers loans for up to 70 per cent of the project cost at concessional rates.

The government also has a solar pumping program under which more than 5,000 systems have been installed so far and the market for

Growth of installed power capacity in India

solar lighting and solar pumping is far from saturated. Solar drying is one area which offers very good prospects in food, agricultural and chemical products’ drying applications.

Till date, nearly 5,500 solar energybased pumping systems have been installed throughout India for use in horticulture, animal husbandry, poultry farming, high-value crop production, orchards, silviculture, aquaculture, salt production, and drinking-water supplies.

The systems that are supplied to farmers work entirely off solar energy without any need for diesel generators. They therefore prevent pollution and protect the environment.

This has resulted in greater consumer confidence in solar energy and a boost to the solar power industry, which has been encouraged to develop its manufacturing base and infrastructure and to create a nationwide after-sales service network.

The government is hopeful of commissioning a number of solar projects by the end of 2009. The Gujarat government has entered into memorandums of understanding (MoUs) for 7,500 MW of solar and wind power generation projects.

Of the total, 40 MoUs were signed for establishment of solar power projects with a total investment of Rs 662.5 billion.

Hydro electric power generation is one of the oldest methods of harnessing energy in India.

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18 POWERWATCHINDIA Jan,2010

However, while efforts are being made to augment hydro capacity in the country, the results are still not very encouraging. There could be several reasons for this, ranging from geological unpredictability and hurdles during the project execution. Also, the lack of organizations venturing into projects for hydro power generation is another reason why this method has not seen much success in the country. Besides NHPC Limited and now NTPC, there are very few organizations that pursue power generation outside their river basins.

“Organizations like THDC, SJVN and NHDC need to step out of their areas of influence and take up projects pan India to help expedite development of hydral projects in the country,” said Kuljit Singh, Partner and Head, Infrastructure Real Estate and Government, Ernst & Young, during the recent launch of the Ernst & Young and Assocham report on the power sector in India.

While the development of renewable sources of energy is fast becoming imperative for India, the key issue lies in the pace of power generation not keeping pace with the growing demand across states. With nuclear energy also coming up as a viable option, India needs to work over time if it truly intends to achieve the goal it has set for itself of 78,700 MW of power capacity addition for the 11th Five Year Plan.

Fin Deals SBI banks on wind power

I

ndia’s largest lender State Bank of India (SBI) has financed many wind power projects in the country. Now it is setting up a few of them as well.

SBI will set up wind power projects in Maharashtra (9 MW), Tamil Nadu (5 MW) and Gujarat (1.5 MW) - with a combined capacity of 15.5 MW for its captive consumption at various SBI offices and branches in these three states.

A senior SBI official said the board of directors wanted the bank to explore the use of nonconventional energy resources, including solar and bio mass. In the process, SBI also wants to project itself as a green organisation - the buzzword these days - and a bank that promotes clean energy initiatives.

SBI has called for competitive bids for establishing captive wind power projects on turnkey basis, including land, infrastructure and permissions. The operations and maintenance would also be handled by the project contractors. The plants are expected to be commissioned by the middle of March next year.

India’s nuclear power plans to borrow $6.5 billion

N

uclear Power Corporation of India Limited, the nation’s monopoly atomic generator, plans to borrow as much as $6.5 billion to fund six new reactors as the second fastest growing major economy grapples with power shortages.

The state-run company will raise about 140 billion rupees ($3 billion) from loans and bonds to build four 700 MW plants. It will also seek about $3.5 billion in loans for two 1,000 MW reactors it’s developing in Kudankulam with Russia’s Rosatom.

India has pledged to nearly double generation capacity in the next seven years to end blackouts.

The government said before global climate talks in Copenhagen that it would voluntarily reduce its carbon emission intensity by as much as a quarter from 2005 to 2020. Nuclear power makes up 3 per cent of capacity in India, where supply falls short of demand by as much as 13 percent in peak periods.

Indian companies plan to make huge investments in Sri Lanka

S

even months after civil war ended in Sri Lanka, Indian companies that are already working in the island are now busy making plans to make huge investments to expand their business there. They appear eager to participate in the anticipated post-war reconstruction boom, especially in core sectors, such as energy and information technology.

At least six such companies have finalized their plans.

They are: Power Grid Corporation of India Limited (PGCIL), NTPC Limited, Lanka India Oil Corporation (Lanka IOC), Cairn Lanka Private Limited, Lanka Ashok Leyland and Mphasis. India is Sri Lanka’s largest trading partner. It is now the island’s largest source of imports, and the fourth largest export destination.

The proposed investment plans of NTPC and PGCIL alone amount to a staggering one billion US dollars, or LKR 114,000 million.

PGCIL plans to install power transmission lines between India and Sri Lanka to pave the way for eventual trading of electricity between the two countries. The proposed 285 km line includes submarine cables over a stretch of 50 km. Once ready, it will enable the two neighbours to trade their surplus power with each other, thereby offering a cheaper option to bridge a power generating deficit.

The project, estimated to cost US$500 million, or LKRs 57,000 million, will link the power grid in Tamil Nadu to the transmission system in Sri Lanka. Initially, the line will have a capacity of 500 Mw, and is proposed to be doubled later. NTPC, India’s biggest power company, is in the process of signing a joint venture agreement with the Ceylon Electricity Board (CEB) to set up a 1,000 MW coal-based power unit with an investment of $500

Money matters

million. The project got delayed due to differences over where to locate the plant. All issues have now been sorted out, and the joint venture is likely to be signed soon.

Stake sale: NPCIL seeks to raise Rs 10,000 cr

N

uclear Power Corporation of India Limited (NPCIL) is looking to raise at least Rs 10,000 crore by selling equity stakes in projects to large public sector companies.

He added that the National Aluminium Company Limited (Nalco) and Indian Oil Corporation Limited (IOC) have already signed memoranda of understanding (MoUs) to invest in NPCIL’s projects.

NPCIL will need Rs 1 trillion to increase generation capacity by 2020. The company is looking at a 30:70 equity-debt ratio and out of the Rs 30,000 crore equity required, NPCIL expects to get Rs 10,000 crore from these public companies.

NPCIL is targeting 30,000 MW of power through nuclear plants by 2020, up from the current 4,120 MW. NPCIL also has a joint venture with the National Thermal Power Corporation (NTPC) for generating nuclear power which NTPC will hold 49% in each project.

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Jan,2010 POWERWATCHINDIA 19

Money matters

? s h g i H d e v horizon li

t erm t r g n o o l Sh wer IPOs offer a Few po

Some of these companies were trying to sell dreams through their IPOs, when they lacked the capacity to fulfill those promises”

I

ndia Inc. seems to be on a power drive.

After IT in the mid-1990s and real estate and retail more recently, it is now the time for the dawn of energy initial public offerings (IPOs).

Analysts say that most companies are diversifying into power to be part of the action. There are still others which are attracted by the stock market buzz, and a possibility of enhancing valuations by quickly announcing plans in the sector.

While Sterlite Industries will have a power play with its wholly-owned subsidiary Sterlite Energy, the Jindal group will now be engaged in the energy sector in a more focused way.

Even the Videocon group, and logistics company Gati intend to make a foray into

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20 POWERWATCHINDIA Jan,2010

the power sector.

Videocon, for example, has hived off its power business into a separate company recently.

Also, hydro contractors such as Jal Power and B Seenaiah & Company will now be bidding for full-fledged power projects.

Even a small company like Alps has hived off its power business consisting of a small hydel power project in Himachal Pradesh into a separate company and wants to focus its energies into the business. That’s not all.

Most top Indian conglomerates have put in bids for several small hydel projects up for grabs in the north-east.

During 2008, many power conglomerates, including Reliance Power, Sterlite Energy, JSW Energy and Essar Power, will raise

around $10 billion from the primary market and through pre-IPO placements by offloading equity.

An analyst argues that the power sector is no longer government-dominated. Firstly, the private players have seen flexibility in government policies related to power. Also, no player can now ignore the stock market momentum in the sector, which is happening in anticipation of future potential.

When the technology boom started in the mid-90s, some biggies such as Infosys, Wipro and TCS led the pack in putting India on the global map. Even small players, which realised the potential much later, diversified into the IT space, to be a part of the bigger IT party, and enhance their valuations in the capital market. Some of them even changed

their names to masquerade as IT companies to fool the uninitiated investors.

The next such boom came over the last couple of years during the real estate era. Various companies then changed names to suggest that real estate was a big part of their business, again to generate better valuations.

The current boom is now being played out in the power sector. An infrastructure specialist says that the country’s huge power deficit and a steep increase in traded prices of electricity are motivating many a player to enter into this segment.

The Electricity Act, 2003 proved to be the watershed in the power sector. Though government-run companies and boards have had the maximum share of the total installed capacity, things are changing. Companies are now going for competitive bidding, and are quoting rates much lower than the government’s anticipation.

Most global power majors, which entered the power sector after it was opened up in the mid-nineties, had to beat a hasty retreat by the end of the decade as doubts over SEBs’ capability to pay their bills continued to haunt their financial closure. Many such projects, which had been mothballed, suddenly seem to be witnessing some action now.

Companies such as Hindujas and Videocon appear keen to restart these projects. USbased power major AES, which had also deserted its projects in India, now appear bullish again and has promised to pump in a couple of billion dollars in the power sector. Power, therefore, is clearly the flavour of the season.

However, the enthusiasm of retail investors to the many power IPOs has been tepid. The Adani Power IPO, subscribed 21.64 times in all, was subscribed 2.97 times by retail

investors. Indiabulls Power was subscribed 21.84 times overall, but only 1.09 times by retail investors. JSW Energy saw retail investors place bids for 32.7 million shares of the 81 million reserved for them.

(FPOs) from NTPC Limited and Rural Electrification Corporation (REC), analysts do not expect fireworks. In the past, PSU IPOs like NHPC have disappointed, say experts.

Analysts believe the power sector has immense potential and is a good sector to stay put, as these projects have a long gestation period.

Unattractive valuation of the recent IPOs is the reason, they say, for their lukewarm reception from retail investors. Some of these companies “were trying to sell dreams through their IPOs, when they lacked the capacity to fulfill those promises”, said an analyst.

Experts say most of those who did invest in these IPOs were not the ones who were in it for the long term; they wanted quick returns, but ignored fundamentals and would end by burning their fingers.

Says a broker, “NTPC valuations are not very attractive. Even in the secondary market, we do not recommend NTPC. But, if one wants to accumulate, NTPC can be a good bet.”

Cautions an industry expert: “The new IPOs will see a very moderate response from retail investors.” Analysts say that retail investors do not want to stay put for long. They want to book profits instantly and shift to some other stock. “And, the recent IPOs have hardly rewarded the retail investor,” adds the expert.

Analysts are also of the opinion that “retail participation is seen to be driven by trend, sentiment and not fundamentals.” If retail investors had enjoyed good profits with the previous offerings, they would buy the upcoming offers. Also, the valuations and number of shares on offer are still not known for future IPOs like Jindal Power and Satluj Vidyut Nigam.

Analysts are also concerned about the operational capabilities of many of the players entering the sector. “After the Reliance Power fiasco, everybody has learnt a lesson of not trusting companies with even a good brand name,” said one.

Even in the case of follow-on-public offers

Experts say if government gives a 5-10 per cent discount, retail investors could look at the NTPC FPO. Rs 200-190 levels would be decent to enter NTPC, because it is not very aggressive and there isn’t anything big expected from the company. But, experts are not bullish about Rural Electrification Corporation (REC): “REC has been hyped, it is highly overvalued,” said an expert.

The basis for the FPO pricing was the secondary market and these prices were not realistic, he added.

“retail participation is seen to be driven by trend, sentiment and not fundamentals.”

Experts say in the current market condition, banking and infrastructure sectors were looking much better than power. Though power is a small part of infrastructure, India has a huge infrastructure deficit in terms of roads, highways and bridges. And, there will be a lot of investment coming into road and highway projects. Analysts are selectively bullish on pharmaceuticals and automobiles as well.

“So, when one has many other options, why go for the power sector, which involves lot more risk?” asks an analyst. Retail investors need to understand the business model of power companies before investing, say experts.

Investors also need to understand the profile of the individual companies and projects when investing in power companies. These companies generate a return on equity (RoE) between 12 per cent and 14 per cent, say industry experts.

Recent IPOs in the power sector Issuer Company JSW Energy Limited IPO Indiabulls Power Limited IPO Oil India Limited IPO NHPC Limited IPO Adani Power Limited IPO KSK Energy Ventures Limited IPO Rural Electrification Corporation Limited (REC) IPO

Issue Open 7-Dec-09 12-Oct-09 7-Sep-09 7-Aug-09 28-Jul-09 23-Jun-08 19-Feb-08

Issue Close 9-Dec-09 15-Oct-09 10-Sep-09 12-Aug-09 31-Jul-09 25-Jun-08 22-Feb-08

Offer Price (Rs.) 100/- to 115/40/- to 45/950/- to 1050/30/- to 36/90/- to 100/240/- to 255/90/- to 105/-

Issue Type IPO-BB IPO-BB IPO-BB IPO-BB IPO-BB IPO-BB IPO-BB

Issue Size (Crore Rs.) 2,700.00 1,529.10 2,777.25 6,038.55 3,016.52 830.66 1,639.26 Source: BSE, NSE

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Jan,2010 POWERWATCHINDIA 21

Nuclear Watch

India’s Current Civil Nuclear Power Status T

hings have really changed for India’s civil nuclear industry since it has got waiver from Nuclear Supplier’s Group (NSG) and its subsequent signing of nuclear deal with the US. Following this, key nuclear powers - United States, France, Russia, Canada and Japan (pending) - have come forward and expressed interest in supplying reactor technology and fuel to India. Given these countries, being the chief manufacturers of uranium fueled nuclear reactors, are crucial for India’s future nuclear needs, is ready with importation plans of several large reactors.

India is on buying spree mainly from France, Russia and US. As news reports suggest, plans are in place to set up six reactors of

Nuclear Power Plants in Operation in India

1,600 megawatts maximum power capacity from France, four 1,000 MW reactors from Russia, and four 1,500 MW reactors from America

within the next five years. Out of the four planned Russian reactors, two are already at an advanced stage of construction, and are expected to be commissioned in 2009.

GE Hitachi Nuclear Energy, Westinghouse Electric, Bechtel Nuclear, The Shaw Group and Babcock & Wilcox are some of the 30 US firms that were in India to pitch their nuclear power equipment. GE Hitachi has signed cooperation agreements with three Indian companies: Larsen & Toubro Ltd., Bharat Heavy Electricals Ltd., and Bharat Forge Ltd. Westinghouse has signed an agreement with Larsen &Toubro and is negotiating three more.

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22 POWERWATCHINDIA Jan,2010

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Nuclear Watch

GE and Westinghouse, along with France’s Areva Group and Russia’s Atomstroyexport, have each been allotted sites to build nuclear power plants with up to 10,000 megawatt capacity, as part of India’s goal of ramping up its nuclear capacity to 63,000 megawatts by 2030 from 4,120 megawatts today.

Given by the above said instances, picture might look rosy for India but still there is a long way to go and lot many roadblocks to dealt with.

The U.S. and India must finalize nonproliferation assurances before U.S. firms can export nuclear technology to India. The countries must also

Courtesy: Google Earth

Several roadblocks remain

Satellite image of Kudankulam Nuclear Plant agree on a reprocessing agreement, which would make India the third, after Japan and a consortium of European states, to be able to

reprocess spent nuclear fuel from the U.S. Finally, U.S. companies, unlike their government-linked French and Russian competitors, must wait

for India to enact new legislation that gives private companies greater liability protection before they can build reactors here.

India is in the process of acquiring land for five proposed reactor sites, and there are reports of protests from the locals. As India industrializes, conflicts over land use have intensified, and violent farmer protests have derailed the plans of some of India’s most powerful industrialists.

But the government is optimistic.

S.K. Jain, managing director, Nuclear Power Corporation of India Ltd., said in one of his briefings to media, “The government is committed to paying people a fair price for their land”. He sounded confident the acquisitions would go fast enough for construction to begin in 12 to 18 months.

Recently commissioned Tarapur Atomic Power Plant 4

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24 POWERWATCHINDIA Jan,2010

In his words, “India is a noisy democracy. There will always be 3 to 4 percent who are never satisfied. I don’t see major difficulties in this.”

Tenders being financed by the World Bank.

Closing date: January 11, 2010 Contact: New Bhaban (4th Floor), Ramna Dhaka, Dhaka 1215, Bangladesh Phone: +880 2 7116122 Fax: +880 2 7171833 Email: secretary@pgcb.org.bd

Asia Consultancy service for 220/132 kV GIS Country: Pakistan Organisation: National Transmission and Despatch Company Limited (WAPDA) Description/Scope of work: WAPDA invites proposals for consultancy services for supervising the construction of a 220/132 kV GIS located in Bandla.

Closing date: November 26, 2009 Contact: Chief Engineer (Ehv-I), NTDC House, 34 Industrial Area, Gulberg III, Lahore, Pakistan Phone: +92 42 9263246 Fax: +92 42 9263247 Email: ceehve@wapda.com Website: www.pepco.gov.pk

Construction of 66 kV substation Country: Singapore Organisation: Singapore Power Limited Description/Scope of work: International competitive bids are invited for the construction of the 66 kV Mandai substation.

Closing date: December 4, 2009 Contact: Tender/Quotation, Counter 111, Somerset Road, #08-02 Singapore Power Building, Singapore Phone: +65 6823 8888 Fax: +65 6823 8188 Email: orpcomms@ singaporepower.com.sg Website: www.singaporepower.com.sg

Design and construction of 230 kV line Country: Bangladesh Organisation: Power Grid Company of Bangladesh Limited Description/Scope of work: International competitive bids are invited for the design and construction of the 230 kV SiddhirganjManiknagar transmission line. The project is

•

•

26 POWERWATCHINDIA Jan,2010

Middle East and Africa Consulting service for technical assistance Country: Benin Organisation: West African Power Pool Description/Scope of work: West African Power Pool invites expressions of interest for providing technical assistance for updating the ECOWAS master plan. The winning bidder will have to analyse the regional electricity supply system, the power demand-supply situation, create an optimal plan for the development of the generation and transmission systems of the region, update existing dynamic and static stability studies, conduct a preliminary study of environmental impact of the proposed projects and propose a strategy for the implementation of the ongoing ECOWAS priority project.

The project is being financed by the European Investment Bank (EIB) and the European Union (EU).

Closing date: December 21, 2009 Contact: West African Power Pool, Secretariat 06 BP 2907, Cotonou, Benin Phone: +229 21 37 41 95, +229 21 37 71 44 Fax: +229 21 37 71 43 Email: info@ecowapp.org

Construction of 400 kV transmission line Country: Morocco Organisation: Office National De L’electricite (ONE) Description/Scope of work: ONE invites international competitive bids for works related to the construction of a 24 km-

long, 400 kV transmission line connecting Ferdioua and Melloussa. Works include a topographical study, supplementary studies, supply of metallic pylons, supply of a guard’s cable with fibre optics (optical ground wire) and corresponding transmission equipment, supply of cable bare drivers and accessories, supply of insulators and accessories, supply of struts, civil engineering jobs and assemblage jobs.

The project is being financed by the African Development Bank.

Closing date: December 16, 2009 Contact: Office National De L’electricite, 65 Rue Othman Ben Affan, BP 13 498, 20 000 Casablanca, Morocco Phone: +212 522 66 80 21, 522 66 82 53, 522 66 83 64 Fax: +212 522 66 80 79, 522 43 31 12

Latin America Consulting service for technical assistance Country: Ecuador Organisation: Transelectric Description/Scope of work: Transelectric invites international competitive bids for designing an extra high voltage transmission network to connect planned mega hydro power projects. The network is most likely to be designed at the 500 kV voltage level. The project is being financed by the Islamic Development Bank (IDB).

The winning bidder will have to design a network that connects the following hydro generation projects: Coca Codo Sinclair with an installed capacity of 1.5 GW, Sopladora with a capacity of 487 MW, Toachi Pilatón with 228 MW, Chespi with 250 MW and Villadora with 350 MW. Closing date: December 3, 2009 Contact: Mr Marcelo Vicuña Izquierdo, Transelectric, Gerente, Avennue, 6 de Diciembre N26-235 y Avenue, Orellana, Piso 10, Quito, Ecuador Email: jlayana@transelectric.com.ec

* Tenders cited here are meant for a representative function only.

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Vital stats Coal Stock position at various Thermal Power Stations S.NO

Name of TPS

1 NORTHERN REGION

2

Rail Qty

LINKAGE Other mode

Total Qty

Rail Qty

3

4

5

6

1 2 3

I.P. T.P.S. RAJGHATTPS BADARPU R TPS

95 65 0

0 0 0

95 65 0

49 49 0

4 5 6

FARIDABAD EXT. PANIPATTPS YAMUNA NAGAR TPS

60 690 300

0 0 0

60 690 300

44 515 203

7 8 9

GH TPS (LEH.MOH.) GND TPS(BHATINDA) ROPAR TPS

435 195 620

0 0 0

435 195 620

362 179 572

10 11

KOTA TPS SURATGARH TPS

545 695

0 0

545 695

365 503

AN PARA TPS HARDUAGANJ OBRA TPS PANKI TPS PARICHHA TPS DADRI (NCTPP) RIHAND STPS SINGRAULI STPS TANDA TPS UNCHAHAR TPS TOTAL NORTHERN REGION WESTERN REGION

150 90 450 120 350 0 0 0 0 0 4860

650 0 0 0 0 0 0 0 0 0 650

800 90 450 120 350 0 0 0 0 0 5510

103 92 374 97 257 0 0 0 0 0 3764

22 23 24 25 26 27

KORBA EAST V KORBA-II KORBA-WEST TPS KORBA STPS SIPAT STPS OP JINDAL TPS

270 0 0 0 0 0

0 240 370 0 0 0

270 240 370 0 0 0

196 0 0 0 0 437

28 29 30 31 32

GANDHI NAGAR TPS SIKKA REP. TPS UKAI TPS WANAKBORI TPS TORR POWER AEC

300 90 390 720 0

0 0 0 0 0

300 90 390 720 0

291 81 259 473 0

33 34 35 36

AMARKANT AK EXT TPS SANJAY GANDHI TPS SATPURA TPS VINDHYACHAL STPS

0 550 375 0

175 0 255 0

175 550 630 0

0 502 259 0

BHUSAWAL TPS CHANDRAPUR KHAPARKHEDA TPS- II KORADI TPS NASIK TPS PARLI TPS PARAS TPS DAHANU TPS TROMBAYTPS TOTAL WESTERN REGION SOUTHERN REGION

175 815 415 575 335 427 175 120 0 5732

0 255 0 0 0 0 0 0 0 1295

175 1070 415 575 335 427 175 120 0 7027

232 790 391 347 318 287 124 110 0 5097

46 47 48 49 50 51

Dr. N.TATA RAO TPS KOTHAGUDEM TPS RAMAGUNDEM - B TPS RAY ALASEEMA TPS RAMAGUNDEM STPS SIMHADRI

565 575 0 413 0 0

0 25 25 0 0 0

565 600 25 413 0 0

690 660 33 268 0 0

52 53

RAICHUR TPS BELLARYTPS

602 240

167 0

769 240

475 166

12 13 14 15 16 17 18 19 20 21

37 38 39 40 41 42 43 44 45

•

•

28 POWERWATCHINDIA Jan,2010

ACTUAL RECEIPT RECEIPT Consumption % Equiv.Raw Other Total Actual mode Qty Qty Link Qty DOMESTIC 7 8 9 10 11 DELHI 49 52 49 75 0 0 HARYANA 0 44 73 0 515 75 0 203 68 PUNJAB 0 362 83 0 179 92 0 572 92 RAJASTHAN 0 365 67 0 503 72 UTI AR PRADESH 600 703 88 0 92 102 0 374 83 0 97 81 0 257 73 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 600 4364 79 0 0 0

CHHATTISGARH 0 196 73 277 277 115 377 377 102 0 0 0 0 0 0 0 437 0 GUJARAT 0 291 97 0 81 90 0 259 66 0 473 66 0 0 0 MADHYA PRADESH 68 68 39 0 502 91 239 498 79 0 0 0 MAHARASHTRA 0 232 133 300 1090 102 0 391 94 0 347 60 0 318 95 0 287 67 0 124 71 0 11 0 92 0 0 0 1261 6358 90 ANDHRA PRADESH 0 690 122 48 708 118 33 33 132 0 268 65 0 0 0 0 0 0 KARNATAKA 11 486 63 0 166 69

Consumption Equiv.Raw Qty

Closing Stocks Qty

in Days

12

13

14

Stocks

49 49 0

59 58 0

59 58 0

33 64 0

10 30 0

44 515 203

51 573 174

51 573 174

16 132 118

8 6 12

362 179 589

395 194 528

395 194 545

55 81 120

4 12 6

399 560

464 457

498 514

73 112

4 5

703 92 374 97 257 0 0 0 0 0 4472

788 80 416 91 216 0 0 0 0 0 4544

788 80 416 91 216 0 0 0 0 0 4652

108 27 109 52 42 0 0 0 0 0 1142

4 9 7 13 4 0 0 0 0 0 6

196 277 377 0 0 437

170 195 364 0 0 466

170 195 364 0 0 466

70 161 112 0 0 111

8 20 9 0 0 0

342 88 305 547 0

264 81 196 516 0

315 88 242 590 0

38 14 92 25 0

4 5 7 1 0

68 502 498 0

68 481 286 0

102 481 286 0

102 62 475 0

275 3 23 0

252 1157 402 375 318 336 141 138 0 6756

232 1038 384 326 300 289 119 114 0 5923

252 1105 395 354 300 338 136 142 0 6321

36 324 44 48 205 149 6 23 0 2022

6 9 3 3 18 10 1 6 0 9

690 708 33 268 0 0

638 576 30 329 0 0

638 576 30 329 0 0

224 439 26 111 0 0

12 22 31 8 0 0

544 166

566 198

624 198

282 203

11 25

1

2

Rail Qty 3

LINKAGE Other mode 4

Total Qty

Rail Qty

5

6

ACTUAL RECEIPT RECEIPT Consumption Total Other % Equiv.Raw Actual mode Qty Qty Link Qty DOMESTIC 7 8 9 10 11

54 ENNORE TPS 55 METIUR TPS 56 NORTH CHENNAI TPS 57 TUTICORIN TPS TOTAL SOUTHERN REGION EASTERN REGION

230 372 263 443 3703

0 0 0 0 217

230 372 263 443 3920

140 292 221 429 3341

TAMIL NADU 0 140 0 292 0 221 0 429 92 3433

58 59 60

BARAUNI TPS MUZAFFARPUR TPS KAHALGAON TPS

20 30 0

0 0 0

20 30 0

18 40 0

0 0 0

61 62 63 64

PATRATU TPS TENUGHAT TPS BOKARO’B’TPS CHANDRAPURA(DVC)

140 0 0 0

0 170 0 0

140 170 0 0

60 0 0 0

65 66 67

I B V ALLEY TPS TALCHER(OLD)TPS T ALCHER STPS

0 0 0

265 0 0

265 0 0

0 0 0

0 0 350 160 300 515 220 210 0 0 0 0 0 1945 16240

0 0 0 0 0 0 0 0 0 0 0 0 0 435 2597

0 0 350 160 300 515 220 210 0 0 0 0 0 2380 18837

0 0 376 119 205 463 45 174 0 0 0 0 0 1500 13702

68 DURGAPUR TPS 69 MEJIA TPS 70 BAKRESWAR TPS 71 BANDEL TPS 72 D.P.L. TPS 73 KOLAGHAT TPS 74 SAGARDIGHI TPS 75 SANTALDIH TPS 76 BUDGE BUDGE TPS 77 NEW COSSIPORE TPS 78 SOUTHERN REPL. TPS 79 TIT AGARH TPS 80 FARAKKA STPS TOTAL EASTERN REGION TOTAL ALL INDIA

BIHAR 18 40 0 JHARKHAND 0 60 162 162 0 0 0 0 ORISSA 205 205 0 0 0 0 WEST BENGAL 0 0 0 0 0 376 0 119 0 205 0 463 0 45 0 174 0 0 0 0 0 0 0 0 0 0 367 1867 2320 16022

Consumption Equiv.Raw Qty

Closing Stocks Qty

Stocks in Days

12

13

14

61 78 84 97 88

140 292 221 429 3491

147 341 251 357 3433

147 341 251 357 3491

102 223 133 404 2147

13 18 15 27 16

90 133 0

18 40 0

9 40 0

9 40 0

12 0 0

18 0 0

43 95 0 0

60 162 0 0

63 178 0 0

63 178 0 0

6 31 0 0

1 5 0 0

77 0 0

205 0 0

170 0 0

170 0 0

184 0 0

21 0 0

0 0 107 74 68 90 20 83 0 0 0 0 0 78 85

0 0 376 119 205 477 45 174 0 0 0 0 0 1881 16600

0 0 358 109 159 492 115 137 0 0 0 0 0 1830 15730

0 0 358 109 159 506 115 137 0 0 0 0 0 1844 16308

0 0 62 19 65 87 77 123 0 0 0 0 0 666 5977

0 0 5 4 7 5 11 18 0 0 0 0 0 8 10

Source: CEA

Name of TPS

S.NO

Status of total installed power capacity in the country Monitored Target Capacity Apr 2009 to (MW) Mar-10 PROGRAM

ACTUAL

1

2

3

4

THERMAL NUCLEAR HYDRO TOTAL

37127.23 4120 11435.7 52682.93

261148.24 19000 43239 323387.24

21189.39 1730 2651 25570.39

20653.02 1393.03 2292.44 24338.49

THERMAL HYDRO TOTAL

48192.08 25287.64 73479.72

303192.47 67123 370315.47

24849.68 5633 30482.68

23672.52 4336.75 28009.27

THERMAL HYDRO TOTAL

9924.34 905.2 10829.54

57200.83 3558 60758.83

4890.98 163 5053.98

5189.4 187.79 5377.19

THERMAL HYDRO TOTAL TOTAL PVT BHUTAN IMP

3865 522.25 4387.25 15216.79 0

26938.04 1548 28486.04 89244.87 6564

2123.67 124 2247.67 7301.65 491

2085.98 122.65 2208.63 7585.82 322.65

•

%OF LAST YEAR (9/10) 12 108.32 116.51 93.31 106.17 103.34 90.55 100.72 166.09 97.03 156.97 101.25 126.95 102.29 134.5 91.47 Continued...

•

Jan,2010 POWERWATCHINDIA 29

Source: CEA

Category / Sectors

GENERATION (GWH) Nov-09 APRIL 2009 - NOV-2009 ACTUAL %OF %OF ACTUAL %OF SAME PROLAST SAME PROGRAM ACTUAL PROGRAM MONTH GRAM YEAR PERIOD (9/8) 2008 - 09 (4/3) (4/5) 2008 - 09 5 6 7 8 9 10 11 CENTRAL SECTOR 19690.41 97.47 104.89 172329.09 169555.42 156535.67 98.39 1267.54 80.52 109.9 11736 11937.12 10245.49 101.71 2596.28 86.47 88.3 34271 32057.37 34356.9 93.54 23554.23 95.18 103.33 218336.09 213549.91 201138.06 97.81 STATE SECTOR 23843.57 95.26 99.28 195826.6 187025.54 180974.65 95.51 4988.63 76.99 86.93 47800 42354.15 46772.55 88.61 28832.2 91.89 97.15 243626.6 229379.69 227747.2 94.15 PVT. SECTOR IPP 3205.1 106.1 161.91 34680.4 38660.41 23276.1 111.48 191.52 115.21 98.05 2914 3436.8 3541.84 117.94 3396.62 106.4 158.31 37594.4 42097.21 26817.94 111.98 PVT. SECTOR UTL. 2128.3 98.23 98.01 18073.85 18172.37 17947.9 100.55 113 98.91 108.54 1014 965.05 760.21 95.17 2241.3 98.26 98.54 19087.85 19137.42 18708.11 100.26 5637.92 103.89 134.55 56682.25 61234.63 45526.05 108.03 323.11 65.71 99.86 5420 4940.4 5401.2 91.15

Vital stats Status of total installed power capacity in the country GENERATION (GWH)

ACTUAL

3

4

5

%OF PROGRAM (4/3)

%OF LAST YEAR (4/5)

ACTUAL

ACTUAL SAME PERIOD 2008 - 09

%OF PROGRAM (9/8)

%OF LAST YEAR (9/10)

PROGRAM

6

7

8

9

10

11

12

53053.72

51600.92

48867.38

97.26

105.59

420909.93

413413.74

378734.32

98.22

1730

1393.03

1267.54

80.52

109.9

11736

11937.12

10245.49

101.71

116.51

8571

6939.63

7889.43

80.97

87.96

85999

78813.37

85431.5

91.64

92.25

491

322.65

323.11

65.71

99.86

5420

4940.4

5401.2

91.15

91.47

524064.93

509104.63

479812.51

63845.72

60256.23

58347.46

94.38

103.27

Average PLFs in power generation Nov-09 Category / Sectors

ACTUAL

PROGRAM

13

14

PLANT LOAD FACTOR (%) APRIL 2009 - NOV-2009 ACTUAL ACTUAL SAME SAME PROGRAM ACTUAL MONTH PERIOD 2008 - 09 2008 - 09 15 16 17 18

81.03 53.87

82.95 46.96

80.54 42.73

82.61 48.21

83.33 49.48

80.5 42.471

72.65

70.87

72.98

71.97

69.4

69.07

72.47

76.88

84.2

79.29

69.07

88.39

Category

85.82

93.39

Coal Stock position at various Thermal Power Stations PLANT LOAD FACTOR (%) APRIL 2009 - NOV-2009 ACTUAL SAME MONTH 2008 - 09

ACTUAL

PROGRAM

ACTUAL

ACTUAL SAME PERIOD 2008 - 09

13

14

15

16

17

18

75.97

76.27

76.6

76.37

75.81

74.62

53.87

46.96

42.73

48.21

49.48

42.47

•

•

30 POWERWATCHINDIA Jan,2010

Source: CEA

PROGRAM

106.1

Monitored Capacity (MW)

Target Apr 2009 to Mar-10

1

2

THERMAL

99108.65

648479.58

NUCLEAR

4120

19000

HYDRO

38150.79

115468

BHUTAN IMP

0

6564

82.44

83.24

Nov-09

97.15

Power generation mix

Source: CEA

CENTRAL SECTOR THERMAL NUCLEAR HYDRO TOTAL STATE SECTOR THERMAL HYDRO TOTAL PVT. SECTOR IPP THERMAL HYDRO TOTAL PVT. SECTOR UTL. THERMAL HYDRO TOTAL TOTAL PVT BHUTAN IMP

109.16

TOTAL

141379.44

789511.58

Source: CEA

PROGRAM

ACTUAL SAME MONTH 2008 - 09

APRIL 2009 - NOV-2009

Source: CEA

Nov-09

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