Volume 2 Issue 7
10.2012
MONTHLY
INDUST
RY FO
CUS -
POW
ER T
RANSMIS
SIO
N & D
ISTR
IBUTI
ON
INDUST
RY FO
CUS -
POW
ER T
RANSMIS
SIO
N & D
ISTR
IBUTI
ON
LSI Financial Services is a leading provider of innovative financial solutions to corporate India for over a decade.
It has successfully raised funds for companies through structured financial products, spanning various sectors. With in depth domain knowledge, LSI strives to add value to the client's financial supply chain ensuring an effective and efficient capital structure.
Our services include:
Debt Syndication
Private Equity Advisory
Issue Management
Mergers and Acquisitions
Financial Restructuring
Project Advisory Services
Creatingpartners in
value, growth
From The Managing Director’s Desk
Dear Readers,
You may find this Economic Update in the midst festive season with decorative lighting all around. India, being the fifth largest producer and consumer of electricity is currently facing acute shortage due to scarcity of coal, which supports for 56% of India's installed electricity capacity
Under the ‘Power for All’ mission, India has set a target of 88,000 MW of installed capacity by the end of 12th Five Year Plan. The transmission segment has a major role in achieving this mission as an efficient transmission capacity and network will prove essential to transfer power from generating stations to distribution networks. A combination of ageing infrastructure, the rise in use of renewable energy sources, increase in demand for electricity and a need to improve transmission efficiency together with energy security, are translating into growth in the electric power transmission & distribution transformer market.
We have discussed the potential and challenges of Power Transmission and Distribution sector in this issue.
Hope you find the content useful and we look forward to your valuable feedback.
Raj Kajaria
MACROECONOMIC UPDATE
Highlights
l
economic forecast to 3.3% and 3.6% for 2012 and 2013 respectively, as against earlier forecast of 3.4% and 3.9% respectively.
lRBI has kept the repo rate unchanged at 8%. However, it reduced CRR by 25 bps to 4.25%. This would infuse `17,500 crore liquidity into the banking system.
lIndian companies raised `2,211 crore through institutional investors in August 2012 while the cumulative amount mobilised through QIP route during April to September 2012 was `4,651.5 crore as against `2,163 crore in the previous fiscal year.
lDuring the quarter ended September 2012, M&A deals in India decreased by approximately 50% y-o-y to $3.4 billion across 161 deals as against $6.9 billion across 202 deals in the corresponding period of the previous year.
lDuring April-September 2012, India's net direct tax collections surged by 16.32% y-o-y to ̀ 2,26,603 crore as against `1,94,812 crore in the corresponding period of the previous year.
lThe Government approved road projects worth `1,500 crore, which include `899.24 crore investment proposal for building a section of NH-758 in Rajasthan and `600 crore for two-laning of Salasar-Haryana Border section of NH-65.
lIndia's consumer price inflation declined to 9.73% in September 2012 due to marginal fall in fuel and food prices.
lThe Government has approved `3,150 crore for the development of backward regions in Bihar, Odisha, Uttar Pradesh and Madhya Pradesh.
lThe Central Government has signed agreements with 16 States to rollout broadband network with the total cost of `20,000 crore, which would be entirely funded by the Central Government.
International Monetary Fund (IMF) reduced its global
l
healthcare IT sector received $194 million VC fund across 37
deals during the quarter ended September 2012.
lThe HSBC manufacturing PMI of India increased to 52.9 in
October 2012 as against 52.8 in the previous month.
lThe proposals for restructuring debt received by the CDR cell of
RBI increased by nearly 50% y-o-y to `2,45,928 crore in
September 2012 as against `1,64,294 crore in the
corresponding period of the previous year.
lIndian companies raised `7,990 crore through primary market
mainly via rights issue and debt in September 2012 due to
various reform measures announced by the Government.
According to the report by Mercom Capital Group, the
Source: Office of Economic Advisors
IIP sectorwise on y-o-y basis (%)
July ’12
Aug ’12
Min
ing
Manufa
cturi
ng
Capit
al G
oods
Inte
rmedia
te G
oods
Consu
mer
Dura
ble
s
Consu
mer
non-D
ura
ble
s
-0.7
2.0
-0.2
2.9
-1.7
1.9
-5.0-1.1
1.44.0 5.80.1
-40 -20
-20 0
0 20
20 40
Ele
ctri
city
Coal
Cru
de
Refi
nery
Cem
ent
Ste
el
Natu
ral G
as
Fert
iliz
ers
11.0
-1.7-0.6
1.8
-13.5-14.8
8.411.4
-0.1
13.4
2.01.93.7
-2.2
5.7
Inflation on y-o-y basis (%)
All
com
modit
ies
Pri
mary
Art
icle
s
Min
era
ls
Fuel and P
ow
er
20.0
10.0
0.0
Petr
ol
Manufa
cture
d P
roduct
Food P
roduct
s
Basi
c M
eta
l A
lloys
& M
eta
l P
roduct
s
Mach
inery
&M
ach
inery
Tools
Source: Office of Economic Advisors
Aug '12Sep '12
Aug '12Sep '12
Source: RBI
Bank Credit ` croreas on 5th Oct 2012, previous 28th Sep 2012
48,09,380 48,85,250
Key Economic Indicators (Domestic)
Forex Reserve $mlnas on 19th Oct 2012, previous 12th Oct 2012
295,235.2 294,875.8
as on 21st Sep 2012, previous 7th Sep 20128.20-9.11 8.25-9.25Certificate of Deposits %
as on 30th Sep 2012, previous 15th Sep 20128.33-14.50 7.37-14.50Commercial Paper %
latest August 2012, previous July 20122.7 1.0IIP %
latest Sep 2012, previous August 2012
7.81 7.55Inflation %
latest Sep 2012, previous August 2012168.4 166.6WPI for 'All Commodities'
latest Sep 2012, previous August 2012
23.7 22.3Export $bln
latest Sep 2012, previous August 2012
41.8 38.0Import $bln
21.4
7.8
9.7
11.9
8.38.810.1
6.7
9.5
6.1 6.3
9.89.0 8.17.5
2.52.8
7.6
12.4
Source: MCX
Daily Price Movement of Copper and Crude Oil at Mumbai Exchange (`)
CO
PP
ER
490
430
410
450
470
CR
UD
E O
IL
5200
5000
4800
4600
4400
27-S
ep-1
2
15-O
ct-1
2
18-O
ct-1
2
21-O
ct-1
2
30-S
ep-1
2
3-Oct
-12
9-Oct
-12
6-Oct
-12
12-O
ct-1
2
24-O
ct-1
2
27-O
ct-1
2
l
y-o-y to `4,801 crore in value terms while in volume terms it decreased by 8%y-o-y to 3.21 lakh tonnes as compared to `4,706.17 crore and 3.51 lakh tonnes respectively, in the corresponding period of the previous year.
lAccording to the Oil Minister's estimates, India's oil output is expected to increase by 8% y-o-y to 41.12 Million Tonne (MT) while the natural gas output is likely to decrease by 9% y-o-y to 43 billion cubic metres in the FY2012-13.
lIndia's gems and jewellery export decreased by 14% y-o-y to $3.72 billion in September 2012 as compared to $4.33 billion in the corresponding period of the previous year due to the sluggish demand in the western markets.
lThe Government is planning to increase the import duty on white sugar to 20% from its current level of 10% to control the excess supply in the domestic market.
During October 2011-September 2012, India's coffee exports increased by 2%
COMMODITY UPDATE DEBT UPDATE
l
raise $500-$600 million loan from multilateral funding agencies at a cheaper rate for financing low-cost housing units.
lOriental Bank of Commerce is planning to raise `1,200 crore in the coming 2 months through Tier-II bonds to fund its business expansion plans.
lIndia Inc raised $2.36 billion through ECBs and FCCBs in August 2012 to fund modernization, overseas acquisition and import of capital goods.
lDuring the quarter ended September 2012, the Government's debt increased by 3.6% q-o-q to `39,00,386 crore as against `37,63,264 crore in the previous quarter.
lReliance Industries raised $1.5 billion through an overseas bond sale. The company has raised $4 billion so far in 2012, which include $1.5-billion and $1 billion in February and May 2012 respectively. The fund would be utilized to finance its planned capital expansion programme.
National Housing Bank is planning to
Daily price movement of and in terms of$ € `
Source: www.oanda.com
27-S
ep-1
2
15-O
ct-1
2
18-O
ct-1
2
21-O
ct-1
2
30-S
ep-1
2
3-Oct
-12
9-Oct
-12
6-Oct
-12
12-O
ct-1
2
24-O
ct-1
2
27-O
ct-1
2
DO
LLA
R
EU
RO
55.50
54.00
57.00
58.50
52.50
51.00
70.50
72.00
69.00
67.50
66.00
`/€`/$
Daily Price Movement of Gold and Silver at Ahmedabad Exchange (`)
Source: MCX
SIL
VE
R
GO
LD
34000
30000 55000
59000
57000
63000
61000
32000
31000
33000
27-S
ep-1
2
15-O
ct-1
2
18-O
ct-1
2
21-O
ct-1
2
30-S
ep-1
2
3-Oct
-12
9-Oct
-12
6-Oct
-12
12-O
ct-1
2
24-O
ct-1
2
27-O
ct-1
2
CORPORATE UPDATE GLOBAL UPDATE
PRIVATE EQUITY UPDATE EQUITY UPDATE
lAgro-chemical manufacturing company, Insecticides India Ltd and Japan-based Otsuka AgriTechno is planning to invest around ̀ 500 crore to develop new agro-chemicals in the coming 5 years in India.
lOil India and Indian Oil Corporation jointly acquired 30% stake in Houston-based Carrizo Oil & Gas's Niobrara shale gas asset in Colorado for around ̀ 450 crore.
lNeyveli Lignite Corporation has formed JV with Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd for setting up 1,980-MW coal based thermal power project in the State with an investment of ̀ 11,128 crore.
lDHL Supply Chain is planning to invest `700 crore in India to strengthen its logistic infrastructure in the country. The company would set up multi-client sites and add five million square feet of warehousing space in Mumbai, New Delhi & NCR, Gurgaon, Bengaluru, Nagpur, Chennai, Kolkata and Ahmedabad.
lOdisha Power Transmission Corporation Ltd (OPTCL) is planning to form 50:50 JV with Power Grid Corporation of India Ltd or Mahanadi Coalfields Ltd to implement Transmission projects worth `5,000 crore during the 12th Five Year Plan period (2012-17).
lITC is planning to invest `10,683 crore in the coming 5 to 6 years to add 5,000 rooms to its hotel portfolio.
lIndian Hotels Company is planning to acquire Orient-Express Hotels Ltd for $1.86 billion.
lAccording to Venture Intelligence, India's PE investment increased by 4.4% y-o-y to $2.5 billion across 97 deals during the quarter ended September 2012 as against $2.4 billion across 120 deals in the corresponding period of the previous year.
lAccording to Grant Thornton report, PE investment in the FMCG sector increased to $337.96 million across 11 deals during January-September 2012 as against $71.30 million across 7 deals in the corresponding period of the previous year.
lDuring January-September 2012, PE investment in the real estate sector declined by 15% y-o-y to `3,500 crore as against `4,110 crore in the corresponding period of the previous year due to concerns on the Government policy coupled with an uncertain investment scenario, valuation and continued focus on exits by some vintage funds.
lPE firm, CX Partners is planning to invest `150 crore in Transaction Solutions International (India) Pvt Ltd, an ATM outsourcing and payment company, to acquire more than 70% stake in the company.
lStandard Chartered PE has invested around ̀ 165 crore in the largest bottler for PepsiCo in South Asia, Varun Beverages. The fund would be utilized for the buyout of Pepsi's minority stake in its subsidiary.
lPE fund, Blackstone owned CMS Info Systems is planning to invest ̀ 200 crore in the coming 3 years to fund its expansion plans.
lFidelity India Capital is planning to acquire 35%-40% stake in Trivitron Healthcare for ̀ 400 crore.
lBlackstone Capital Partners has signed an agreement to acquire 12.5% stake in International Tractors Ltd for ̀ 520 crore.
lStandard Chartered PE (Mauritius) III Ltd would invest $35 million in Prime Focus Ltd by subscribing to the equity shares of the company on preferential basis.
lVerlinvest SA has acquired approximately 10% stake in Future Ventures India for around ̀ 110-130 crore.
lDuring January-September 2012, global M&A deals declined by 19.4% y-o-y to $1,426.5 billion as against $1,769.3 billion in the corresponding period of the previous year.
lEuro Zone Finance Ministry is planning to launch $653 billion bailout fund, which would be a major defence against the debt crisis in Spain.
lChina's GDP and Industrial output grew by 7.4% y-o-y and 9.2% y-o-y respectively, for the quarter ended September 2012
lIndia and Spain have signed an agreement for amending a double taxation avoidance pact which was over 19-year old.
lThe unemployment rate of USA surged to 7.9% in October 2012 as against 7.8% in the previous month.
lV-mart is planning to raise 120 crore through IPO to fund its expansion strategy, which is to almost double its showrooms to 120 outlets by 2015. The company is also eyeing to expand its business in North-Eastern region and aims to have presence in all the States.
lInternational Tractors Ltd is planning to raise `800 crore through IPO. The proceeds would be util ized for acquisitions in the tractor and the SUV segments in Europe.
lFortis Healthcare has raised over ̀ 2,300 crore by selling about 70% stake in its business trust, Religare Health Trust through an IPO listed in the Singapore Stock Exchange.
`
INDUSTRY FOCUS - POWER TRANSMISSION AND DISTRIBUTION
l
electricity in the world after USA, China, Japan and Russia.
Electricity production in India (excluding captive
generation) stood at 835.3 terawatt (TWh) in the
FY2010-11.
lIndian Transmission & Distribution network is of 5.7 million
circuit kilometer (ckt. km) which is the 3rd largest in the
world.
Power Transmission
lAt the end of the FY2011-12, India's transmission network
comprised of 274,882 ckt. km of 220 KV and high-voltage
lines together with 383,465 MVA of transformer capacity
at the 220 KV and above voltage levels.
lThe transmission line length has grown at a CAGR of 7%
between 2007-08 and 2011-12. The growth is mainly
driven by 765 KV and 400 KV lines, with the length of 765
KV lines doubling between 2009-10 and 2011-12.
India is the fifth largest producer and consumer of l
MW as of March 2012, against the actual Eleventh Plan (2007-12) target of 32,000 MW. The capacity growth being slow in the past 3 to 4 years, the remaining planned capacity will be commissioned in the 12th Five Year Plan.
lPresently, around 12,300 ckt. km of transmission lines are under development by the private sector at an estimated cost of over 200 billion, while another 1,500 ckt. km is expected to be awarded shortly through the bidding route by the Central and the State Governments.
lDuring the 12th Five Year Plan, the transmission target has been set at 109,440 ckt. km of line length and 270,000 MVA of substation capacity. About 27,000 ckt. km will be at the 765 KV voltage level. The high voltage direct current (HVDC) capacity is expected to almost double from 13,500 MW at present to 26,500 MW by the end of the Twelfth Five Year Plan period. The inter-regional transfer capacity is targeted at either 37,800 MW or one and a half times the existing transfer capacity.
The inter-regional transmission capacity stood at 28,000
`
Expected twelfth plan transmission network additions
Particulars
Interregional capacity (MW) 25,65025,650
25,650
9,452
4,164
268,000
394,000
37,800
13,000
9,440
27,000
109,440
270,000
63,450
26,500
18,892
31,164
379,011
642,894
HVDC capacity (bipole/BTB) (MW)
Transmission lines (ckt. km )
HVDC bipole
765 KV
Total lines (all voltages) (ckt. km)
Substation (MVA) (AC+HDVC)
Eleventh Plan end Twelfth Planadditions
Twelfth Plan end(Expected)
Source: Central Electricity Authority, BTB: Back-to-Back; HVDC: High voltage direct current; AC: Alternate current
l
AC network with approximately 90,000 circuit kilometers of line length.
lThe estimated total fund requirement for transmission system by the 12th Five Year Plan has been assessed at $42 billion.
lThe nodal agency for providing long term open access in the Inter-State transmission is the Central Transmission Utility (CTU). Till March 2011, CTU has received around 187 Long Term Access (LTA) applications for transfer of power from their generation projects with capacity of about 1,77,000 MW to various target regions of which LTA has been granted to 135 applicants with capacity of about 1,17,000 MW.
lThe Government has approved 14% ROE in generation and transmission schemes.
Challenges in the transmission sector:
lA serious issue for both public and private transmission developers is procedural delays in land acquisition, obtaining RoW, environmental & related statutory clearances and equipment deployment, particularly in hostile terrains.
The transmission system in India is mainly through 400 kV l
Intra-State level, constraining the flow of power from surplus to deficit areas as well as ineffective implementation of open access transactions.
lLack of coordination between various ministries and agencies, and between transmission planning and implementation.
Private participation in power transmission:
lThe Government has set a target to add 1 lakh MW of generation capacity in the 12th Five-year Plan to fulfill its promise of 'Power for All'. While looking at this additional generating capacity of 1 lakh MW, the most essential block that needs to be put in place is efficient transmission capacity and network.
lPower transmission in India was restricted to Central and State utilities until the year 2006. Though the Electricity Act, 2003 opened doors for private sector participation in the power sector, private investment in transmission started in 2006. Private sector investment was allowed in the form of 100% PE or as a 74% JV with the CTU (Central transmission utility).
lThe huge capital required for building efficient
Another key issue has been inadequate investments at the
transmission infrastructure has attracted numerous domestic and international players. Total outlay for transmission sector in the 12th Five Year Plan is estimated at 2.4 trillion.
lrivate sector participation in transmission is inevitable with such huge potential for investment. Increase in power
`
P
generation capacity will result in steady order flows for T&D, providing ample opportunities for private players. Partnership between private players and Central/State utilities will ensure efficient and optimum operation of the transmission system thereby reducing system losses, voltage fluctuations and power pilferage.
Private participation in intra-state power transmission
Ownership Privateequity (%)
Mode State KV Cost( crore)`
Company/SPV
Jaigad Power Transco Ltd
Maharashtra Eastern Grid Transmission Co Ltd
Jhajjar KT Transco
Maru Transmission Service Co Ltd
Aravali Transmission Service Co Ltd
Shekhawati Transmission Service Co Ltd
South East UP Power Transmission Co Ltd
Western UP Power Transmission Co Ltd
JSW Energy
Adani Power
KPTL+Techno
GMR Energy
GMR Energy
Emco
Isolux Corsan
Cobra+MEIL
74
74
100
100
100
100
100
100
JV
JV
DBFOT
BOOM
BOOM
BOOM
BOOM
BOOM
Maharashtra
Maharashtra
Harayana
Rajasthan
Rajasthan
Rajasthan
Uttar Pradesh
Uttar Pradesh
400
765
400
400
400
400
765
765
488
4,379
450
200
NA
NA
870
875
Source: www.electricalmonitor.com, DBFOT: design, build, fund, operate and transfer model. BOOM : Build own operate maintain.
Power Distribution
lPower distribution is the final and most crucial link in the electricity supply chain and unfortunately, the weakest one in the country. It assumes great significance as the segment has a direct impact on the sector's commercial viability and ultimately on the consumers who pay for power services.
lThe sector has been plagued by high distribution losses coupled with theft of electricity, low metering levels and poor financial health of utilities with low cost recovery.
lThe sector has started receiving greater attention and investment with the restructuring of the State Electricity Boards (SEBs). Several new initiatives have been introduced to reduce aggregate technical and commercial (AT&C) losses along with a definitive regulatory framework. Electricity Act 2003, National Electricity Policy 2005 and National Tariff Policy 2006 are important
regulations governing the sector with an aim to bring competition in the sector and improve the services to the end consumers.
lThe distribution segment continues to carry electricity from the point where transmission leaves off, that is, at the 66/33 kV level. However, depending upon the quantum of power and the distance involved, lines of appropriate voltages are laid.
lDuring the 12th Five Year Plan, a capacity addition of approximately 88,000 MW is expected at an investment of 3.06 lakh crore in the distribution sector.
lOver 90,000 MW of new generation capacity is required in the next 7 years. A corresponding investment is required in transmission and distribution networks.
lThe present power cost need to be reduced by 8-10% /unit through a combination of lower AT & C losses, increased generation efficiencies and low cost generating capacity.
`
Estimates of physical & financial requirement for distribution during 12th Five Year Plan(capacity addition 75000 MW)
Sl. No. Name of Segment Units Physical Financial(` crore)
New Lines
i.
ii.
iii.
33 KV O/H line
33 KV U/G Cable(30%)
Total 33 KV line
11 KV O/H line
11 KV U/G cable
Total 11 KV line
LV O/H
LV ABC
Total LV
Contd.....
ckt. km
ckt. km
ckt. km
ckt. km
ckt. km
ckt. km
ckt. km
ckt. km
ckt. km
121500
13500
135000
448000
112000
560000
488000
122000
610000
9720
4050
22400
22400
24400
9760
I.
II. Installation of new S/S
33/11 KV(2X10 MVA)
No of 10 MVA Transformers
Transformation capacity
No
No
MVA
4400
8800
88000
22000
Snapshot of key financials of Indian power transmission & distribution majors for the FY2011-12
Sl. No. Name of Segment Units Physical Financial(` crore)
MVA
No
No
No
MVAR
ckt. km
ckt. km
ckt. km
No
No
No
No
MVA
MVA
105000
10500
33500
50000000
100000
500000
1000000
67000
105000
210000
424000
850000
50000
50000
16000
Installtion of DTs including all accessoriesIII.
IV.
V.
VI.
VII.
1000 KVA
630 KVA
Total No of DTs
Aug of Sub-Station
33/11 KV
11/0.4 KV
Capacitors
Service Connections
Re conductoring of lines
(i) 33 KV
(ii) 11 KV
(iii) LV
SUB TOTAL
Productive Load Scheme
Smart Grid
IT facilities,& SCADA including HRD
R&D
TOTAL
315 KVA
200 KVA
100 KVA
25 KVA
3000
10000
20000
224770
61940
9500
10000
25
306235
3350
4020
5250
8400
8480
10000
10000
1280
25000
1260
Source: Report of the Working Group on Power for 12th Five Year Plan
Source: Report of the Working Group on Power for 12th Five Year Plan
0.69
Parameters
Net Sales ( crore)`
Total Income ( crore)`
Operating Profit ( crore)`
PBDIT ( crore)`
PAT ( crore)`
Operating Profit Margin (%)
PAT Margin (%)
Debt Equity Ratio
Current Ratio
Tata Power
8,569.08
9,545.60
1,791.57
2,768.09
1,169.73
20.90
12.44
0.78
1.48
ReliancePower
66.12
531.85
-91.52
374.21
310.86
-138.41
4.70
0.01
55.11
Torrent Power
7,886.90
7,970.36
2,256.12
2,339.58
1,237.46
28.60
15.52
0.55
0.71
Adani Power
3,948.90
4,044.98
1,239.43
1,335.51
-293.92
31.38
-6.93
4.11
Powergrid
10,035.33
10,785.01
8,382.38
9,132.06
3,254.95
83.52
30.18
2.21
0.90
Jsw Energy
5,016.42
4,978.83
1,214.22
1,176.63
234.64
24.20
4.61
0.81
1.24
lThe power sector in India is experiencing a large demand-supply gap. Hence, the country possesses a vast opportunity to grow in the field of power generation,
transmission, and distribution. This has called for an effective consideration of some strategic initiatives.
Initiative by the Government for the power sector
lAllowing FDI of up to 100% in the power sector under the automatic route.
lEncouraging the private sector to set up coal, gas or liquid-based thermal projects, hydel projects and wind or solar projects of any size.
lConstitution of Independent State Electricity Regulatory Commissions in the States.
lIntroduction of the Electricity Act 2003 and the notification
of the National Electricity and Tariff policies.
lProvision of income tax holiday for a block of 10 years in
the first 15 years of operation and waiver of capital goods' import duties on mega power projects (above 1,000 MW generation capacity).
lIn order to provide low cost funds to some infrastructure
sectors including power, the rate of withholding tax on interest payments on External Commercial Borrowings (ECBs) is proposed to be reduced from 20% to 5% for 3 years.
Major upcoming projects in the power sector of India
Source: Report of the Working Group on Power for 12th Five Year Plan
Name of the Project
20 MW Hydel Power
37 New Mini Hydel Power Projects
Amrit Bio Power Project at Jagi Road
(10MW)
Bordikrio Power Project (4.7 MW)
Subhag Power Project (3MW)
Rupai Power Project (0.4 MW)
State
Assam
Assam
Assam
Assam
Assam
Assam
Cost (` crore)
120
750
47.38
46.93
15.26
3.7
Sponsoring
Authority
Assam Power Generation Corp. Ltd
Assam Power Generation Corp. Ltd
Assam State Electricity Board
Desang Small Hydro Electric Power
Project (9 MW)
Assam 65.57 Assam State Electricity Board
Assam State Electricity Board
SRET Dhomdhama Power Project
(10MW)
Assam 238 Assam State Electricity Board
Champawati Power Project, Kokrajhar
(2.25 MW)
Assam 15.66 Assam State Electricity Board
CESIPL, Tejpur (2.22 MW) Assam 19.68 Assam State Electricity Board
Assam State Electricity Board
Assam State Electricity Board
Small Hydro Power Generation Station at
Damanganga (Madhuban) Dam
Gujarat 15.8 Narmada, Water Supply, Water Resources
Department, Government of Gujarat
Small Hydro Power Generation Station at
Karjan Dam
Gujarat 16.1 Narmada, Water Supply, Water Resources
Department, Government of Gujarat
Small Hydro Power Generation Station at
Wanakbori Dam
Gujarat 6.1 Narmada, Water Supply, Water Resources
Department, Government of Gujarat
Establishment of 765kV S/S at Koradi,
Dist. Nagpur, Akola, Aurangabad
Maharashtra 3382 Maharashtra State Electricity Board
400 kV D/C Babai -Jaipur (North)
(Twin Moose) line along with 400/220 kV
GSS at Jaipur (North)
Rajasthan 221.8 Rajasthan Rajya Vidyut Prasaran
Nigam Ltd
400 kV AKAL - Jodhpur (New) D/C line
(Quad Moose) -240 Km
Rajasthan 512.27 Rajasthan Rajya Vidyut Prasaran
Nigam Ltd
Disclaimer: This report is based on publicly available data and other sources that we consider reliable. While every effort is made to ensure the accuracy and completeness of information contained, we do not represent that it is accurate or complete and do not take liability for errors or omission. LSI Financial Services Pvt Ltd shall not be liable for any direct or indirect damages that may arise due to any act or omission on the part of the user due to any reliance placed or guidance taken from any portion of this report.
New Delhi
P FE
1201, 12th Floor, Chiranjiv Tower43, Nehru Place, New Delhi 110019
011 46628817 011 46628851 [email protected]
Kolkata
P FE
Sagar Trade Cube 5th Floor104, SP Mukherjee Road, Kolkata 700026
033 24863815 033 24863816 [email protected]
Mumbai
P FE
Unit 8, 4th Floor, Trade World WingKamala Mills Compound, Lower Parel, Mumbai 400013
022 66702000/04 022 66702005 [email protected]
www.lsifinance.com