Page 12 - AsiaElec Week 08 2021
P. 12
AsiaElec NEWS IN BRIEF AsiaElec
Haveli, Daman and Diu
DISCOMs
Torrent Power has emerged as the highest
bidder for the acquisition of the power
distribution company (DISCOM) in the union
territory of Dadra & Nagar Haveli, Daman
and Diu, according to a press release.
The 51% acquisition of the DISCOM is
subject to provisions mentioned in the tender
documents. The acquisition process is a part
AEGCL currently operates 66 substations oil. Such trading makes it difficult to procure of the Government of India’s initiative to
with 6,882 megavolt-ampere capacity and its LNG in a timely manner at prices based on privatise DISCOMs in an attempt to make
transmission network comprises 5,701 circuit supply and demand conditions. them more efficient.
km of transmission lines. Japan hopes more producers and buyers In December last year, Dadra & Nagar
The AIIB is a multilateral development would make it possible to establish an LNG Haveli and Daman and Diu had invited
bank with a mission to improve social market with flexible pricing. bids to acquire a 51% stake in its DISCOM,
and economic outcomes in Asia. It began responsible for the distribution and retail
operations in January 2016. supply of electricity.
With the latest addition to its portfolio,
RENEWABLES Torrent will now distribute nearly 25bn kWh
of power to over 3.8mn customers and cater
Thailand energy company The Ministry of Power had issued draft
LNG -TO -POWER to a peak demand of over 5,000 MW.
Japan to bolster support secures ADB aid for standard bidding documents to select bidders
for acquiring a majority stake in distribution
for Asia’s shift to LNG for renewables and EV projects licensees for the distribution and retail sale
of electricity. As per the bidding guidelines,
power generation The Asian Development Bank (ADB) the existing distribution licensee’s assets will
be transferred to the new entity at the state
has issued funding to be used to increase
Japan will strengthen efforts to support Asian renewable energy and EV charging electricity regulatory commission’s approved
countries’ shift from coal to liquefied natural infrastructure in Thailand. net asset value. The land owned by the current
gas for use in power generation to reduce A $47.62mn green loan issued to the distribution licensee will also be transferred to
carbon emissions, in the hope of lowering largest renewable energy company on the the entity on a ‘right to use’ basis at nominal
procurement costs for the energy source, the Stock Exchange of Thailand, Energy Absolute charges.
industry ministry said, the Mainichi reported. Public Company Limited, will be used to Speaking on this latest development,
Japan, the world’s largest LNG consumer, finance ongoing renewable energy projects Samir Mehta, Chairman of Torrent Group,
expects increased demand for the fuel, which and a countrywide EV (electric vehicle) said, “With this acquisition, Torrent will
is less polluting than coal, to lead to greater charging network. be entrusted with the responsibility to
production by countries in the region and a Energy Absolute Public Company Limited distribute over 25bn kWh of power, which
diversification of suppliers, the Ministry of will use the loan to finance the Nakornsawan is equivalent to around 2% of India’s total
Economy, Trade and Industry said. Solar and Hanuman Wind power plants and power consumption. The acquisition will
Japan is looking to broaden LNG deploy fast and standard chargers at charging significantly strengthen Torrent’s position as
procurement from its main suppliers such stations. the leading DISCOM in the country, with a
as Australia, Qatar and the United States to Thailand has set a plan to accelerate presence in 12 cities across three states and
include more Asian producers, which mostly the adoption of EVs and the installation one union territory. We are excited to have the
do not have sufficient infrastructure for of EV charging infrastructure to reduce opportunity to serve the citizens of Dadra &
exports. greenhouse gas emissions from conventional Nagar Haveli and Daman & Diu and provide
The efforts to reduce purchasing costs and transportation, which currently accounts them high standards of reliability and service
ensure stable supply come as the country for around 26% of the country’s total annual that Torrent stands for.”
faced a depletion of LNG stocks amid emissions.
unseasonably cold weather this winter.
The world’s third-largest economy, which
relies on LNG for nearly 40 percent of total RENEWABLES
power generation, doubled its public-private GRID
investment initiative to $20bn in 2019 to Mitsubishi switches on
help Asian countries build LNG terminals, Torrent Power to acquire
storage tanks and other facilities necessary for 5-MW PV plant in Thailand
shipments overseas. 51% stake in Dadra & Nagar
LNG is mostly traded under long-term Mitsubishi Motors Corporation (TYO:7211)
contracts with prices linked to those of crude announced on Saturday it has put into
P12 www. NEWSBASE .com Week 08 24•February•2021