DAVOS, Switzerland (Reuters) - The World Economic Forum will revert to January for its 2023 annual meeting in the Swiss ski resort of Davos after moving to the spring for the first time due to the coronavirus pandemic.
State-owned SJVN Ltd on Thursday inked a pact with Tata Power Solar Systems to build a 1,000 MW solar project worth Rs 5,500 crore in Bikaner, Rajasthan. "SJVN today entered into an EPC agreement for 1,000 MW solar project in Bikaner, Rajasthan with M/s Tata Power Solar Systems Ltd," a company statement said. The contract agreement was signed in the presence of Nand Lal Sharma, Chairman and Managing Director of SJVN by Chief General Manager (ECD), SJVN S K Sood, and Vepul Jain, Chief - Business Development, Tata Power Solar Systems Ltd. Sharma said this Rs 5,500 crore-EPC contract is the country's biggest solar contract awarded till date. The contract includes end-to-end delivery of commissioned solar plant to SJVN including arrangement of land on outright purchase basis, power evacuation system up to the ISTS (inter-state transmission system) sub station, and operation and maintenance of the solar PV plant for three years. SJVN had secured this 1,000 MW solar project through CPSU
Shares in the firm, a joint venture between the group controlled by Asia’s richest person Gautam Adani and Singapore’s Wilmar International Ltd., have outperformed 121 Asian initial public offerings worth over $100 million this year.
Sky News Business Editor Ross Greenwood says it is “inevitable” power prices must continue to rise. “The price of gas, the price of coal has risen and so electricity coming from the coal-fired power stations is more expensive,” he told Sky News host Andrew Bolt. He says there is a shortage of electricity due to outages in coal-fired power stations. “There is not enough wind, there is not enough solar to make up the difference. “Ultimately consumers and businesses of Australia are now going to pay, in many cases, with double-digit price increases over the next 12 months.”
Ministries or departments are now permitted to utilise the unspent balances from Quarterly Expenditure Plan (QEP) for the first and second quarter within a financial year under intimation to the Budget Division for cash management purposes, according to an office memorandum issued by the Budget Division of the Finance Ministry.
"However, with such a big population, our own need for foodgrains is much higher. However, we will ramp up our production and it is my humble request that all other countries should also do the same and all responsible countries should come together to tackle the food crisis,'' the minister said at the World Economic Forum Annual Meeting here.