Weekly Power Sector Round up: 18th September 2021

India’s coal fired output falls 1.5% in September, Renewable jumps 53.6%

India’s coal fired electricity generation fell 1.5% in the first half of September, while power output from renewable sources jumped 53.6%, according to a Reuters analysis of Govt data.

Steep increase in coal fired generation in August pushed average coal stock held by Indian plants down to just six day’s worth of reserve as of Sept 13th, a three-year low, as compared to an April 2020 high of stock lasting 31 days. Federal guidelines mandate stockpiles of at least two weeks.

Renewable energy output rose 53.6% in the first half of September, with wind power production doubling and an 18.6% rise in solar power generation.

PFC issues India’s first ever Euro Green Bonds

PFC, an NBFC under the Ministry of Power, said that it has issues its maiden 300 million euro seven year euro bond issuance on 13th September 2021.

“This is a milestone issuance for PFC and marks many firsts for PFC. It is not only the first Euro bond issuance by PFC but also the first-ever Euro-denominated Green bond issuance from India. It is also the first-ever Euro issuance by an Indian NBFC and the first Euro bond issuance from India since 2017,” said the release.

The issue saw participation from 82 accounts and was oversubscribed 2.65 times.