Page 12 - AsiaElec Week 08 2021
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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



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