Shilpa Samant

India is betting big on nuclear in its energy mix in the medium to long term, with the country planning to take its nuclear capacity from 8180MW currently to 22,800MW by FY32.

Indias need for reliable and clean sources of energy has made the government focus on nuclear energy.

The National Company Law Tribunal (NCLT) vacated the stay on the auction of the power project on April 5, paving the way for a fresh round of bidding. The total claim of lenders on the project is pegged at about Rs 32,000 crore. These companies have given 'expressions of interest', which were to be submitted by April 26 and the timeline to give a resolution plan by the interested parties is June 18, according to the timeline set by resolution professional Sumit Binani.

India copes with high power demand during heat wave, hitting 224 GW last month. Major load from air conditioners. Heatwave continues till May 6. Majority electricity from coal-based power, with growth in solar and wind power.

India's primary planning and advisory body for the power sector has loosened a significant condition for power equipment supplies in public sector projects, aiming to enable utilities to issue tenders that facilitate greater involvement from private vendors, sources familiar with the matter revealed.

REC Ltd is targeting a loan book of Rs 10 lakh crore by 2029-30, with 50-60% of the portfolio consisting of conventional power generation, transmission, and distribution projects and 30% focused on renewable energy. The company's assets under management are around Rs 5 lakh crore. The power ministry has projected a need for 85 GW of coal-based power capacity by FY32.

Lenders may oppose the draft rules, which proposes provisioning of up to 5% from current 0.4%, due to concerns over rising interest rates and potential disruption to capital expenditure. Banks plan to lobby against the steep increase, arguing it could affect project viability and economic momentum. State-owned NBFCs and infrastructure firms are also raising concerns, emphasizing the need to balance risk and support for infrastructure financing.

The government is evaluating Reserve Bank of India draft rules calling for higher provisioning in infrastructure projects, while lenders are likely to oppose them on multiple forums. Officials cited concerns that they could lead to a rise in interest rates and derail capital expenditure momentum.

Skilled workforce, ministries, REC Ltd, vendors gear up for 'PM Surya Ghar: Muft Bijli Yojana'. Registrations top 10 million, with 800,000 applications. Scheme offers Rs 75,021 crore outlay, rationalised subsidies, and collateral-free loans.

The government plans to streamline the installation of solar agricultural pumps for farmers under the PM-KUSUM scheme by connecting them directly to vendors through a national portal, similar to the PM Suryaghar Muft Bijli Yojana for solar rooftop schemes. This initiative aims to simplify the process, reduce delays, and empower farmers to choose their preferred solar pumps. The scheme's subsidy structure, with 30% from the Centre and a minimum of 30% from states, will remain unchanged. The national portal will also accommodate state subsidies, enhancing efficiency in implementation.