NTPC pays Total Dividend of Rs. 3,941 crore for FY 2016-17

29th Sep, 2017

NTPC Limited paid a total dividend @ 47.8% of its paid-up capital for the financial year 2016-17, amounting to Rs. 3,941 crore.

The Company had paid interim dividend @26.1% amounting to Rs. 2,152 crore on February 22, 2017. The Company has paid the final dividend @21.7% amounting to Rs. 1,789 crore on September 29, 2017.

The RTGS advice for the transfer of Rs. 1,129 crore to Government of India, being the share of Government of India in the final dividend, was presented by Shri Gurdeep Singh, CMD, NTPC, to Shri R.K.Singh, Hon’ble Minister of State (Independent Charge) for Power and New & Renewable Energy in the presence of Shri K. Biswal, Director (Finance), Shri K.K.Sharma, Director (Operations), Shri Saptarshi Roy, Director (Human Resources) and Shri A. K. Gupta, Director (Commercial) from NTPC Ltd.

NTPC Ltd. has paid a total dividend of Rs. 2,630 crore to the Government of India for the financial year 2016-17.

This is the 24th consecutive year that NTPC Ltd. has paid dividend.


« Back to Press Releases
Read more: NTPC pays Total Dividend of Rs. 3,941 crore for...

Leading global solar inverter manufacturer Sineng Electric presented its product line-up at the 2017 Renewable Energy India Expo (REI 2017) on September 20-22. During the event, the company showcased its industry-leading 1500V solar inverter series, central distributed inverter, central inverter, string inverter, energy storage system and power quality management solution, demonstrating its R&D and manufacturing capabilities.Leading global solar inverter manufacturer Sineng Electric presented its product line-up at the 2017 Renewable Energy India Expo (REI 2017) on September 20-22. During the event, the company showcased its industry-leading 1500V solar inverter series, central distributed inverter, central inverter, string inverter, energy storage system and power quality management solution, demonstrating its R&D and manufacturing capabilities.

The company launched the EP-2500-HA-OD central inverter. With 1500V DC voltage, maximum efficiency of up to 99.02% and 2.5MW unit integrated design, the EP-2500-HA-OD helps reduce the initial investment cost and increases the income from power generation significantly. The central distributed inverter displayed at the show has several advantages highly recognized by the Indian market, including Multiple MPPT, high power output and low initial investment and maintenance costs.  To respond to the fast-growing household and commercial solar markets in India, Sineng Electric displayed its full range of high-efficiency string inverters, which were highly acclaimed for their intelligent features, safety, convenience and elegant design.

Sineng Electric also displayed its leading low-cost and high-efficiency energy storage system, which is considered the preferred energy storage solution for solar PV stations in operation or under construction.

"As India is one of the most important PV markets worldwide, our product displays at the expo helped local customers gain a deeper understanding of our advanced products and technologies, as well as provided Chinese PV firms an opportunity to get a head start on their international expansion. We plan to continue increasing our investments in India and neighboring markets with the aim of supplying customers worldwide with solutions for higher power output and lower costs", said Sineng Electric vice president Li Jianfei. 
According to the IHS Markit 2017 Report, Sineng Electric is the world's sixth largest solar inverter manufacturer. In 2014, following integration with a Fortune 500 company's PV business, the company became a leader in terms of R&D, management and marketing in the global PV market. Currently, Sineng Electric has completed the establishment of its local sales and service system for the Indian market. Once the new modern facility goes into production in Bangalore, the company's annual solar inverter production capacity is expected to reach 5GW. Sineng Electric is capable of meeting the diversified needs of its customers with the industry's most complete solar inverter solutions.

> <
  • AzureAzure Power Solar Plant
Azure Power (NYSE: AZRE), a leading independent solar power producer in India, announced that it has won a 260 MW solar project in an auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL). The 260 MW allocation is the largest allocation by GUVNL to a solar power developer, 52% of the total allocated capacity of 500 MW announced. Azure Power will provide power for 25 years to GUVNL which has been rated AA- by ICRA, a Moody’s company, at a tariff of INR 2.67 (~US$ 0.04) per kWh. The project will be developed by Azure Power outside a solar park and is likely to be commissioned in 2019.

Azure Power has a long history of developing and operating solar power plants under the Gujarat Solar Policy 2009. Some of the first solar projects in India were built in Gujarat given several advantages the state has including high levels of solar radiation, an extensive and stable electric grid network, and the strong credit quality of its DISCOM, GUVNL. Azure Power developed and is operating India’s first MW-scale distributed solar rooftop project in Gujarat’s state capital city, Gandhinagar. In 2013, World Bank recognized this project as one of the Top 10 public-private partnerships in the Asia Pacific region.

Speaking on this occasion, Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “Our long history of superior solar power operations in Gujarat right from the inception of Gujarat’s Solar Policy 2009 has contributed to our success of procuring the largest solar power contract auctioned by Gujarat. We are delighted to make a contribution towards the realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation.”

About Azure Power

Azure Power (NYSE: AZRE) is a leading solar power producer in India with a portfolio of over 1,300 MWs across 22 states/union territories. With over 150 MWs of high quality rooftop solar assets, the company has one of the largest rooftop portfolios in the country. With its in-house engineering, procurement and construction expertise and advanced in-house operations and maintenance capability, Azure Power provides low-cost and reliable solar power solutions to customers throughout India. It has developed, constructed and operated solar projects of varying sizes, from utility scale to rooftop, since its inception in 2008. Highlights include the construction of India’s first private utility scale solar PV power plant in 2009 and the implementation of the first MW scale rooftop project under the smart city initiative in 2013.
For more information, visit: www.azurepower.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s future financial and operating guidance, operational and financial results such as estimates of nominal contracted payments remaining and portfolio run rate, and the assumptions related to the calculation of the foregoing metrics. The risks and uncertainties that could cause the Company’s results to differ materially from those expressed or implied by such forward-looking statements include: the availability of additional financing on acceptable terms; changes in the commercial and retail prices of traditional utility generated electricity; changes in tariffs at which long term PPAs are entered into; changes in policies and regulations including net metering and interconnection limits or caps; the availability of rebates, tax credits and other incentives; the availability of solar panels and other raw materials; its limited operating history, particularly as a new public company; its ability to attract and retain its relationships with third parties, including its solar partners; its ability to meet the covenants in its debt facilities; meteorological conditions and such other risks identified in the registration statements and reports that the Company has filed with the U.S. Securities and Exchange Commission, or SEC, from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and the Company assumes no obligation to update these forward-looking statements.

Read more: Azure Power Wins 260 MW Solar Power Project in...

  • Meenakshi Lekhi, Member of Parliament (Lok Sabha, New Delhi) graced the occasion
  • Angelique Pustakalaya aims to improve reading habits and comprehension skills among students
Angelique Foundation launched libraries named Angelique Pustakalaya in MCD run schools. Ms. Meenakshi Lekhi, Member of Parliament (Lok Sabha, New Delhi) along with Mrs. Jaishree Goyal, Head CSR, Angelique International Limited, inaugurated this unique CSR initiative.
 
Angelique Pustakalaya is a CSR initiative of Angelique Foundation that aims to set up happy functional libraries in Schools by providing a warm and inviting environment with books that are relevant to the age group and the literacy levels of the students. Reading develops broader understanding of the world around them, stimulates creativity, enhances comprehension, improves communication skills and eventually help them in securing better jobs. Angelique Pustakalaya had started simultaneously in nine states, now 263 in number where 28,833 students have benefitted.
 
While launching the Libraries, Smt. Meenakshi Lekhi, Member of Parliament (Lok Sabha, New Delhi) said “All successful people have reading books as one of their habits. This is one of the main reasons why I requested Jaishree Goyal of Angelique International to help me in introducing these libraries in the MCD Schools so that we can inculcate this in the children from a very nascent age. I believe that these children will eventually help the country and be successful themselves."
 
In her address, Jaishree Goyal, CSR Head, Angelique Foundation said, “We believe that children love to read. Given a book that matches a child's literacy level, with attractive colourful illustrations and in a comfortable environment, every child would make an attempt to read it. Our libraries have carefully selected books in a happy environment. We thank Ms. Meenakshi Lekhi, Member of Parliament (Lok Sabha, New Delhi) for believing in the Angelique Pustakalaya CSR initiative and bringing it into the government schools."

“Our CSR initiative has grown at a pace faster than we imagined. The motivation to grow has come from the positive response received from the beneficiaries and the government institutions that support these initiatives. From making libraries in low-income schools, Angelique foundation is refurbishing the children’s corner in the Delhi State Public Libraries; developing completely new Libraries-cum-Reading/Study Area in Community Centers and have added to our list a full Sanskrit Library.”

About Angelique Foundation

Angelique Foundation is the CSR arm of Angelique International Limited and therefore, a natural extension of Angelique International’s social infrastructure projects. Angelique Foundation implements programs tailored to the ground realities in India with a focus on education and rural empowerment. Each initiative is designed to meet the needs of the specific target group and is undertaken after detailed research and surveys. Some of their prominent initiatives include Angelique Pustakalaya – building a shelter of knowledge for children in low income schools; Angelique Garima – empower village girls and women to lead a confident and independent life by teaching skills of stitching, mushroom cultivation and beauty centres; Swachh Bharat – sponsoring construction of toilets in government schools and rural villages; Angelique Shakti - installing solar power units in schools to provide continuous electricity. Angelique International Limited is an Indian EPC company delivering complete project solutions in vital areas of power, water, agriculture, irrigation, social infrastructure and industrial projects in India & across the globe.

Read more: Angelique Foundation Launches Library for...

> <
  • AzureAzure Roof Power Project
Azure Power (NYSE: AZRE), a leading solar independent power producer in India, announced that it has won an additional 20 MWs of solar rooftop projects for Indian Railways, the largest rail network in Asia, owned and operated by the Government of India through the Ministry of Railways. With the new allocation of 20 MWs, Azure Power has become the largest supplier of solar power to Indian Railways with a cumulative awarded capacity of over 66 MWs which includes the 46 MWs of capacity won earlier this year. Azure Roof Power will be used to provide power for 25 years to various Indian Railway facilities across 17 states and union territories. The power will be sold at a tariff range of INR 3.64 - 4.49 (US$ 0.06- 0.07) based on location. In addition, Azure Power qualifies for a capital incentive from Indian Railways which is expected to result in a weighted average levelized tariff of INR 4.88 (~US $0.08) per kWh.
 
Azure Roof Power offers superior rooftop solar power solution for commercial, industrial, government, and institutional customers in cities across India to lower their energy bills and to meet their greenhouse gas (GHG) emission reduction targets. With over 150MWs of high quality, operating and committed solar assets across 20 states, Azure Roof Power has one of the largest rooftop portfolios in the country. Azure Power has a well-diversified customer base with the majority of the portfolio contracted with Government of India backed entities. Azure Roof Power customers include large commercial real estate companies, a leading global chain of premium hotels, distribution companies in smart cities, warehouses, Delhi Metro Rail Corporation, Indian Railways, a Delhi water utility company and various Government of India Ministries.
 
Commenting on the occasion, Mr Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “Azure Roof Power offers tremendous value to our customers across various segments. We are pleased to expand our Azure Roof Power platform with Indian Railways. With this win, we have once again demonstrated our strong project development capabilities and are delighted to make this contribution towards realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation.”

About Azure Power
 
Azure Power (NYSE: AZRE) is a leading solar power producer in India with a portfolio of over 1,300 MWs across 23 states/union territories. With its in-house engineering, procurement and construction expertise and advanced in-house operations and maintenance capability, Azure Power provides low-cost and reliable solar power solutions to customers throughout India. It has developed, constructed and operated solar projects of varying sizes, from utility scale to rooftop, since its inception in 2008. Highlights include the construction of India’s first private utility scale solar PV power plant in 2009 and the implementation of the first MW scale rooftop project under the smart city initiative in 2013.
 
For more information, visit: www.azurepower.com.
 
Forward Looking Statements
 
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s future financial and operating guidance, operational and financial results such as estimates of nominal contracted payments remaining and portfolio run rate, and the assumptions related to the calculation of the foregoing metrics. The risks and uncertainties that could cause the Company’s results to differ materially from those expressed or implied by such forward-looking statements include: the availability of additional financing on acceptable terms; changes in the commercial and retail prices of traditional utility generated electricity; changes in tariffs at which long term PPAs are entered into; changes in policies and regulations including net metering and interconnection limits or caps; the availability of rebates, tax credits and other incentives; the availability of solar panels and other raw materials; its limited operating history, particularly as a new public company; its ability to attract and retain its relationships with third parties, including its solar partners; its ability to meet the covenants in its debt facilities; meteorological conditions and such other risks identified in the registration statements and reports that the Company has filed with the U.S. Securities and Exchange Commission, or SEC, from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and the Company assumes no obligation to update these forward-looking statements.

Read more: Azure Roof Power to Expand Electrification of...

> <
  • ExpertsExperts discuss actionable ideas for energy inclusion through Pay-As-You-Go in India at the Solar Leadership Series 1.0 by Greenlight Planet. Above (from L to R): Rajeev Palakshappa (IFC), Rajpal Duggal (Oxigen Services India), Harihara Mohapatra (CLEAN), Vivek Tiwari (Satya Microcapital) and Alexie Seller (Pollinate Energy)
The Solar Leadership Series, a proprietary event by Greenlight Planet brought together experts from across industries to explore the potential of Pay-As-You-Go (PAYG) technology in achieving energy inclusion. Aptly titled “Pay-As-You-Go: The Panacea for Energy Poverty”, this first-of-its-kind event was aimed at accelerating the pace of PAYG adoption in India. The event saw Rajpal Duggal – Oxigen Services India, Charu Chadha - GSMA, Johanna Diecker - GOGLA, Harihara Mohapatra - CLEAN, Vivek Tiwari - Satya Microcapital, Rajeev Palakshappa - IFC, Alexie Seller - Pollinate Energy, Vibhuti Garg - IISD and PAYG veteran Sanjay Bharti contribute as panelists.
 
With 240 million Indians still living off the grid, the lack of access to reliable, affordable energy, as well as limited solar financing options remain a major barrier to development. Greenlight Planet’s own PAYG technology-enabled products (EasyBuy), has seen exponential growth in Africa since its introduction in 2015. Says Dhaval Radia, Global Business Leader at Greenlight Planet, “EasyBuy benefits everyone involved. For financing partners, it reduces the credit risk involved with technology that shuts down the devices on non-payment, and for off-grid customers, it enables them to access consumer financing, aligned with their incomes and build credit history. Once they build credit history with timely repayment of these basic solar devices, it unlocks huge market of potential consumers that are currently out of the financial system. From our experience in Africa, we’ve learnt that for PAYG technologies to work, it is essential to build an ecosystem of strategic partnerships involving distribution networks, digital payment providers and financial institutions. As we entered the Indian market, the Solar Leadership Series was born as a way for us to reach across the board and build scalable business solutions together.”
 
The first panel discussion, “Digitization of Distribution and Financing Channels through Pay-As-You-Go” saw optimism in the extensive possibilities PAYG has to offer. “PAYG, with its unique data analytics advantage allows for a better understanding of customer demographics and repayment rates. This can be used to make better lending decisions by financial institutions,” said Johanna Diecker. Sanjay Bharti said that he believes PAYG could be a big push for digitization, adding “PAYG's digitised operations leads to a better product design, optimization of operations and a more controlled supply chain mechanism.”
 
The second panel discussed “Linking Energy Inclusion and Distribution Channels for BoP”. Rajpal Duggal said “Since access to clean lighting is a critical need, we may see mobile wallet use increase in India’s BoP market.” Vivek Tiwari added, “PAYG solar opens the market for small distribution companies providing solar solutions in remote rural areas.” Alexie Seller hailed PAYG as a complete package for addressing energy poverty, “The key success of PAYG in India will be real-time information exchange between solution providers and consumers.”
 
The Solar Leadership Series 1.0 reinforced Greenlight Planet’s belief that Pay-As-You-Go is the financing revolution waiting to transform clean energy access. The company has completed a series of successful EasyBuy pilots in India, and is planning to scale these learnings across current and potential partners. The next event in the Solar Leadership Series will be scheduled shortly as Greenlight Planet expects to get a deeper into understanding the challenges and way forward for the PAYG industry.

About Greenlight Planet

Greenlight Planet has sold over 7 million Sun King solar home energy products to off-grid households around the world. Greenlight Planet reaches remote, off-grid customers through a unique business model involving a vast network of micro entrepreneurs, more than 400 global strategic distribution partners, and its proprietary EasyBuy (“pay-as-you-go”) installment payment technology that makes safe, high-quality solar energy products affordable for all. Winners of 2016 Ashden Awards, Greenlight Planet is currently present in 60+ countries and serves over 25 million consumers. Find out more at https://www.greenlightplanet.com

About EasyBuy

https://www.greenlightplanet.com/easybuy/

Read more: Solar Leadership Series - Greenlight Planet Sets...

Orange Renewable, a 100% subsidiary of AT Holdings Pte. Ltd successfully commissioned a total capacity of 140 MW SolarPV Projects in the state of Gujarat and Maharashtra. 

The projects with respective capacityof  40 MW (CharankarSolar Park, Gujarat) and 100 MW(Dhule, Maharashtra)were bagged through a competitive bidding processin 2016conducted by Solar EnergyCorporation of India (SECI), the nodal agency for implementation of MNRE schemes for developing grid connected solar power capacity through Variable Gap Funding (VGF) model in the country.The VGF scheme is a part of Jawaharlal Nehru National Solar Mission (JNNSM) to set up grid connected Solar PV Projects in India.

Speaking on the development Mr. Hemant Tikoo, Executive Committee Member, Orange Renewable said, “The successful commissioning of our projects testifies our commitment andour relentless pursuit toaccomplish company’s roadmap for future growth.It is immensely gratifying to bring value and positive impact on the lives of many through sustainable clean energy solutions.”

Commenting further Mr. Naresh Mansukhani, CEO Solar Business said,“We are delighted with this new development that indisputably demonstrates our focus on project development and execution capabilities in building clean energy assets.It’s our first step towards providing areliable and consistent supply of power to the growing needs of the country.”

Orange Renewable is estimated to generate power supply for approx. 1,75,000 homes and GHGreduction /emission reduction of approx. 1,744,232 tCO2.

The projects are deployed using best in class technology from the super league suppliers, state of the art engineering and special focus on safety and quality.

About Orange Renewable, India ( www.orangerenewable.net )

Headquartered in New Delhi, Orange Renewable is a developer and operator of renewable energy projects. A 100% subsidiary of AT Holdings Pte. Ltd, Singapore, Orange Renewable Power is focused on developing, constructing and operating renewable energy projects in the field of wind and solar across India with existing presence in Andhra Pradesh, Madhya Pradesh, Gujarat, Maharashtra and Rajasthan.

AT Holdings Pte Ltd, Singapore  (www.atcapital.com.sg)

Headquartered in Singapore, AT Capital Group was founded by Mr. Arvind Tiku. AT Capital Group has an asset portfolio worth approximately US$2.5 billion. Its global portfolio includes investments in residential and commercial real estate, hospitality, natural resources, renewable energy, engineering and construction.

> <
  • AzureAzure Power solar power project | Uttar Pradesh | 50 MW
Azure Power (NYSE: AZRE), a leading independent solar power producer in India, has announced that it has commissioned the final phase of its 50 megawatt (MW) solar power plant in the state of Uttar Pradesh. The 50 MW project is spread across 300+ acres of land.

Azure Power will provide power for 25 years at a tariff of INR 4.78 (~US$ 0.07) per kWh to NTPC, the largest power utility of the Government of India. NTPC received a AAA debt rating from CRISIL, a Standard & Poor’s Company. Azure Power secured the 50 MW PPA through an auction under the National Solar Mission Phase II, Batch-II Tranche I.

Uttar Pradesh is the most populous state in India and has a large peak energy supply deficit, according to the Central Electricity Authority. In addition, CRISIL projects that over 10 million unelectrified households will be connected by 2019. Azure Power is one the largest solar developers in Uttar Pradesh and built the first utility-scale solar project in Uttar Pradesh in 2015.

Speaking on this occasion, Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “With the commissioning of this plant, we have once again demonstrated our strong project development, engineering, and execution capabilities. We are delighted to make a contribution towards the realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation. Our sincere gratitude to NTPC and the state of Uttar Pradesh for all the cooperation and support extended.”

About Azure Power

Azure Power (NYSE:AZRE) is a leading solar power producer in India with a portfolio of over 1,000 MWs across 22 states/union territories. With over 150 MWs of high quality solar rooftop assets, the company has one of the largest rooftop portfolios in the country. With its in-house engineering, procurement and construction expertise and advanced in-house operations and maintenance capability, Azure Power provides low-cost and reliable solar power solutions to customers throughout India. It has developed, constructed and operated solar projects of varying sizes, from utility scale to rooftop, since its inception in 2008. Highlights include the construction of India’s first private utility scale solar PV power plant in 2009 and the implementation of the first MW scale rooftop project under the smart city initiative in 2013.
For more information, visit: www.azurepower.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s future financial and operating guidance, operational and financial results such as estimates of nominal contracted payments remaining and portfolio run rate, and the assumptions related to the calculation of the foregoing metrics. The risks and uncertainties that could cause the Company’s results to differ materially from those expressed or implied by such forward-looking statements include: the availability of additional financing on acceptable terms; changes in the commercial and retail prices of traditional utility generated electricity; changes in tariffs at which long term PPAs are entered into; changes in policies and regulations including net metering and interconnection limits or caps; the availability of rebates, tax credits and other incentives; the availability of solar panels and other raw materials; its limited operating history, particularly as a new public company; its ability to attract and retain its relationships with third parties, including its solar partners; its ability to meet the covenants in its debt facilities; meteorological conditions and such other risks identified in the registration statements and reports that the Company has filed with the U.S. Securities and Exchange Commission, or SEC, from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and the Company assumes no obligation to update these forward-looking statements.

Read more: Azure Power Commissions a 50 MW NTPC Solar...

More Articles ...

Advertisement

SolarQuarter Tweets

Follow Us For Latest Tweets

SolarQuarter Launching India’s Premiere EV Charging Infrastructure Event_7 June, Bengaluru - https://t.co/XUU54L4n3v
About an hour ago
SolarQuarter Launching India’s Premiere EV Charging Infrastructure Event_7 June, Bengaluru - https://t.co/rXnp7F41iH
Wednesday, 18 April 2018 12:18
Wednesday, 18 April 2018 09:26

Advertisement

Translator

Advertisement