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Tue, Aug

Mitsui Chemicals, Inc. (TOKYO:4183) (President & CEO: Tsutomu Tannowa) today announced plans to establish a solar panel testing and certification lab in the Indian state of Gujarat in partnership with PI Berlin.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180808005170/en/

 

Business Rollout in India (Graphic: Business Wire)

Business Rollout in India (Graphic: Business Wire)

Energy demand is increasing in India due to an expanding population and an economic growth rate that is holding steady at close to 7%. And with a surging number of photovoltaic power generation facilities being planned, the Indian government this July implemented a measure to block the country’s influx of poor-quality solar panels by requiring BIS certification*1 for panels used in all photovoltaic projects.

 

Mitsui Chemicals has been driving forward its diagnostics business for photovoltaic power generation in Japan since 2014. Now leveraging its accumulated know-how in panel and power plant diagnostics, Mitsui Chemicals will roll out the same business in India. Affiliated company Mitsui Chemicals India Pvt. Ltd. (MCIND: New Delhi, India; President: Suraj Arya) is setting up a solar panel testing and certification lab in partnership with PI Photovoltaik-Institut Berlin AG of Germany (PI Berlin), a leading provider of accredited lab testing services. The facility will begin admitting BIS certification tests in August 2019. Plans are to establish a track record in BIS testing and certification and then use this to build a diagnostics business for solar panels and power plants.

 

*1: BIS (Bureau of Indian Standards) certification: comparable to Japan's JIS certification but obtainable only accredited facilities in India
*2: IEC (International Electrotechnical Commission) certification: an international standards certification for the electric and electronics sector

 
 

Overview of MCIND Solar Panel Testing and Certification Lab

Location   Ahmadabad, Gujarat, India
Business overview   BIS certification of solar panels (with future rollout of diagnostics business for panels and power plants)
Schedule (tentative)  

Construction begins in October 2018. Completion in March 2019.
Testing commences in August 2019.
Receive accreditation as a BIS testing and certification lab by the Ministry of New and Renewable Energy (MNRE)

 

Mitsui Chemicals' diagnostics business for photovoltaic power generation is Blue ValueTM*3-certified as helping to reduce greenhouse gases produced through photovoltaic power generation, with this including panel diagnostics prior to power plant construction to prevent deterioration in panel generation capacity. Through this business, Mitsui Chemicals Group will continue to help solve social issues being targeted under sustainable development goals (SDGs).

 

*3 Blue ValueTM: To create “a cohesive society in harmony with the environment", Mitsui Chemicals Group makes the contributions of its products and services more visible to share that value with stakeholders. We assess products and services with separate metrics according to their usage and award Blue ValueTM certification to those that have high value in making an environmental contribution.

 

Mitsui Chemicals India Pvt. Ltd.
Establishment: February 2008
Capital: 300 million rupees (Mitsui Chemicals: 99%, Mitsui Chemicals Asia Pacific: 1%)
Head office: New Delhi, India
Business: Marketing and sale of Mitsui Chemicals Group products

 

PI Photovoltaik-Institut Berlin AG
Establishment: October 2006
Basic capital: EUR 137,596.00
Head office: Berlin, Germany
Business: Based in Europe, a leading region in photovoltaic (PV) power generation, PI Photovoltaik-Institut Berlin is leading technical advisor, risk manager and quality assurance provider for PV equipment and power plants. PI Berlin uses its accredited testing and certification labs to provide solar panel-related testing, certification and R&D along with independent technical diligence services for PV power plants and PV panel manufacturing. PI Berlin has assessed more than 67 GW of PV panel manufacturing capacity, 7.5 GW of PV power plants and conducted more than 245 factory audits on over 120 manufacturers

 

 

 

 
MULTIMEDIA AVAILABLE :
https://www.businesswire.com/news/home/20180808005170/en/
Read more: Mitsui Chemicals: Diagnostics Business for...

Hanergy Holding Group, a pioneering multinational clean energy company Today announced that its subsidiary, Donghan New Energy Automotive Technology Co., Ltd., inked a strategic cooperation framework agreement with Bluecar, a subsidiary of France's Bollore Group to mark the beginning of new era in the field of solar electric vehicles.

Read more: Hanergy joins hand with Bollore Group to build...

Coastal Gujarat Power Ltd, a fully owned subsidiary of Tata Power, India’s largest integrated power utility, has bagged FAME Excellence Safety Award for best safety practices and implementing workplace safety norms. Mr. Pramod Kumar Singh, Head - Fire & Safety, CGPL received the award on behalf of the Company at an event held in Dehradun on July 29, 2018.

Read more: CGPL bags ‘Gold’ at FAME Excellence Safety Award...

Particulars

Q1FY19

(Unaudited)

Q1FY18

(Unaudited)

Growth

(%)

Total Revenue

1090.13

1016.13*

7.3

EBITDA

443.93

371.29*

19.6

PBT

6.46

-27.72

 

PAT

4.13

-19.02

 

EPS

0.01

-0.03

 

 

Jaiprakash Power Ventures Ltd., registered substantial growth in its revenue, EBITDA, PAT and EPS during the first quarter of FY19 as compared to corresponding quarter of FY18. While revenue grew from Rs. 1016.13 crore to Rs. 1090.13 crore and EBITDA went up from Rs. 371.29 crore to Rs. 443.93 crore. During the quarter JPVL earned a PAT of Rs. 4.13  Crore as compared to Loss of Rs. 19.02 Crore in the corresponding quarter in the previous year.

The above mentioned results were announced here today after the Company’s board meeting. 

JPVL is the designated power vehicle of the Jaypee Group and was incorporated with the objective of development and operation of power projects in India. It currently has a operational capacity of 2220 MW.

14th Analysts & Investors Meet of NTPC

03rd Aug, 2018

NTPC Ltd. organized its 14th Analysts & Investors Meet on 1st August, 2018 in Mumbai. The Meet was addressed by Shri Gurdeep Singh, CMD, NTPC, in the presence of Shri Vivek Kumar Dewangan, Joint Secretary & Financial Advisor (Internal Finance & Budgetary Control), Ministry of Power, Shri Saptarshi Roy, Director (HR), Shri A.K. Gupta, Director (Commercial), Shri S.K. Roy, Director (Projects), Shri Prakash Tiwari, Director (Operations) and Shri P.K. Mohapatra, Director (Technical).

The presentation on growth plans of NTPC was made by Shri K. Sreekant, Director (Finance). Over 150 Analysts and Investors attended the Meet.


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Read more: 14th Analysts & Investors Meet of NTPC

NTPC Ltd. –Q1 FY 2018-19

28th Jul, 2018

The Country’s largest power generator - NTPC Ltd. having group installed capacity of 53651 MW, declared standalone unaudited financial results for the first quarter of financial year 2018-19.

  • For Q1 FY 2018-19, NTPC Ltd. generated 69.21 Billion Units against 64.41 Billion Units generated in the corresponding previous quarter, registering an increase of 7.45%.
  • The generation during Q1 FY 2018-19, is the highest quarterly generation, surpassing previous highest quarterly generation of 68.56 Billion Units during Q4 FY 2017-18.
  • NTPC Coal stations achieved PLF of 77.98% in Q1 FY 2018-19 as against National Average of 63.38%.

For Q1 FY 2018-19, the Total Income was Rs. 22,839.98 crore, registering an increase of 11.19 % over the corresponding previous period Total Income of Rs. 20,541.93 crore. Profit before Tax for the quarter was Rs.3,011.13 crore and Profit After Tax for the quarter was Rs. 2,588.14 crore.


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Read more: NTPC Ltd. –Q1 FY 2018-19

Q1 FY19 Consolidated PAT rose to ₹1,735 crores due to all round performance and exceptional gain of ₹1,483 crore (net of taxes) as against ₹406 crore in the same period last year. PAT was impacted by lower profit in coal companies mainly due to change in the Indonesian regulations for Domestic Market Obligations (DMO), adoption of new Accounting standard IND-AS115 and forex impact at CGPL. Q1 FY19 Consolidated Revenue was up by 16% at ₹7,139 crore.

Q1 FY19 Consolidated EBITDA stood at ₹1,686 crore. Renewables continue to report strong EBITDA of ₹580 crore despite lower EPC sales. All other subsidiaries & Joint Ventures continued to perform well.

During the quarter, the Company added 100 MW of capacity and won new renewables bids worth 400 MW.

 Editorial Synopsis:

Key Financial Highlights: Q1 FY19 vs Q1 FY18

  •          Consolidated PAT stood at ₹1,735 crore up by 328% including exceptional gain of  ₹1483 crore as compared to ₹406 crore.
  •          Standalone PAT stood at ₹1,134 crore up by 422% including exceptional gain of ₹930 crore as compared to ₹217 crore
  •          Renewable business PAT stood at ₹125 crore as compared to ₹142 crore due to lower wind PLF and lower EPC sales.
  •          Consolidated Revenue* stood at ₹7,139 crore up by 16% as compared to ₹6,166 crore.
  •          Standalone Revenue* stood at ₹1,844 crore as compared to ₹1,850 crore.

 Key Business and Growth Highlights:

  • Tata Power partnered with Tata Motors to make Maharashtra EV ready and to establish Electric Vehicle Charging Stations in the State for public use.
  • Tata Power, wholly owned subsidiary TPREL won 400 MW of Solar PV projects in Andhra Pradesh, Karnataka and on long-term basis in Maharashtra.
  • TPREL entered into a Power Purchase Agreement with GE for 5MW to provide solar rooftop solutions for six manufacturing and services sites in India.
  • Tata Power launched IoT based Smart Consumer Sub Station enabled by Tata Communications.
  • Tata Power becomes the first Power utility to automate bill payments using e-NACH; partners IDFC Bank for digitized solution in Mumbai.
  • Tata Power Skill Development Institute has been awarded with ISO 29990:2010 and ISO 9001:2015 dual certification by the Bureau Veritas, a certification body accredited by the National Accreditation Board.
  • ‘Club Enerji’ saved 4 MUs of Electricity in FY17-18, sensitised over 3.5 million People across the country.

 

Tata Power, India’s largest integrated power company, today announced its results for the quarter ended 30th June, 2018, reporting a 328% increase in consolidated PAT and 422% increase in standalone PAT as compared to Q1FY18.

PERFORMANCE HIGHLIGHTS: CONSOLIDATED

On a consolidated basis, Tata Power Group’s Q1 FY19 Revenue* was up by 16% at ₹7,139 crore as compared to ₹6,166 crore last year. This is mainly due to higher generation at CGPL, TPDDL, commencement of Ajmer Distribution operations, coupled with higher generation in Renewable business.

Consolidated PAT stood at ₹1,735 crore up by 328% as compared to ₹406 crore in Q1 FY19 due to all round performance and exceptional gain of ₹1,483 crore (net of taxes).

Higher coal prices, MTM loss and adoption of IND-AS 115 impacted CGPL profit as compared to previous period. Coal Companies performance was also impacted due to change in the Indonesian regulations for Domestic Market Obligations (DMO) and higher mining costs.

PERFORMANCE HIGHLIGHTS: STANDALONE

For the Quarter ended June 30, 2018, Standalone Revenue* stood at ₹1,844 crore as against ₹1,850 crore mainly due to lower wind availability. 

Profit from Operations stood at ₹572 crore as against ₹610 crore in the corresponding quarter last year.PAT stood at ₹1134 crore (includes exceptional gain of ₹930 crore net of tax) as compared to ₹217 crore in corresponding period last year  with steady operations  and Operating expenditure well under control.  

Commenting on the Company’s performance, Mr. Praveer Sinha, CEO & Managing Director, Tata Power said, “During the quarter, Tata Power has redesigned its organization structure to focus on key identified growth areas like Renewable Generation, Transmission, Distribution and New & Value-Added Businesses including Rooftop Solar, Smart Metering, Micro Grids in rural areas and setting up of Electric Vehicle charging units. While the traditional business of thermal and hydro continues to perform well, we believe our future growth areas will bring in greater value and help us align with the consumer needs. The distributed generation business will be of great value to the end users as well as of the best of quality due of our domain expertise.

At Present, we are working with the High Powered Committee to resolve the Mundra issue and we hope that the resolution will benefit all stakeholders. During the quarter, all our businesses have done well. Renewable continues to be the higher contributor to the profitability of the company. Our PAT was impacted during the quarter due to change in Accounting standards, higher mining cost, change in Indonesian Regulations in coal companies and forex hit in CGPL. The company is committed to deleveraging the balance sheet by divesting the non-core assets.”

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