Page 16 - AfrElec Week 11 2023

AfrElec NEWBASE POWER ROUNDUP GLOBAL (NRG POWER) AfrElec

NewsBase Power Roundup Global

[NRG Power]

POWER WELCOME to NewsBase’s Power Roundup with a big bang” Jindal Power chairman, Anil
Global (NRG Power), in which the reader is Kuma Jha announced at the first Coaltrans
invited to join our team of international editors, India conference to be held in the country
who provide a snapshot of some of the key issues since early 2020. Once a regular event on the
affecting their regional beats. We hope you will like nation’s coal industry calendar, Coaltrans,
NRG Power’s new concise format, but by clicking like so many other gatherings in recent
on the headline link for each section the full text years, was hit by COVID bans on gathering
will be available. If you would like to receive NRG and travel.
Power Editor’s Picks every week to your inbox for
free then please click on the link here and fill in ENERGO: Court ruling on Hidroelectri-
the form. ca management calls into question IPO
planned this year
AfrElec: Kenya Power facing $51mn reve- A March 6 court ruling invalidating the selec-
nue drop as government extends 15% elec- tion of Romanian state-controlled hydropower
tricity tariff subsidy group Hidroelectrica’s management in 2019
Nairobi-listed Kenya Power says it will incur has called into question the company’s IPO
an additional loss of $51mn owing to the gov- planned later this year. The Court of Appeal re-
ernment’s decision to extend a 15% cut on elec- jected Hidroelectrica’s appeal to a lower court’s
tricity tariffs by three months to April, when ruling issued in April 2022 in the case of the
new power tariffs to be approved by the Energy former Hidroelectrica CFO Petronel Chiriac
and Petroleum Regulatory Authority are set to who challenged the legality of the selection
take effect. “If you use the parameters that were procedures for the company’s Board of Direc-
used when putting the 15% reduction in place tors in 2019.
in January last year, we estimate that the exten-
sion of the lower tariffs for the months from REM: Petrobras, Equinor to evaluate 14.5
January to April 1 will cost about $51mn,” Ken- GW of offshore wind off Brazil
ya Power said in a statement, as reported by the Brazil’s Petrobras and Norway’s Equinor have
Daily Nation. signed a letter of intent to assess the economic,
technical and environmental feasibility of 14.5
AsiaElec: India’s Old King Coal is back but GW of offshore wind projects off Brazil. The
overly optimistic 14.5 GW is comprised of seven offshore wind
“King coal is coming back and coming back projects.

P16 www. NEWSBASE .com Week 11 15•March•2023