Netflix makes biggest India investment yet with ‘Sacred Games 2’

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By Lata Jha Netflix has spent ₹100 crore on the series, the most any streaming service has spent on creating original content in India, according to industry experts.The highest investment on an Indian web show, previously, would be in the range of ₹3-4 crore (per episode) for around 12 episodes

Source:: Netflix makes biggest India investment yet with ‘Sacred Games 2’

      

Govt planning mega renewable energy projects like UMPPs

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By ET Energy World

The government is planning large renewable energy projects like the coal-based ultra-mega power project s (UMPPs) through the publicprivate-partnership route.

The renewable power projects may include any renewable source of generation or a combination of them. The plants are likely to be 1,800 MW in capacity, which can be spread over three areas of 600 MW each, and the power purchase agreements (PPAs) will be for 25 years, a senior government official said.

Industry insiders, however, are skeptical about the idea of such ultra-mega renewable power projects as recent auctions of solar power contracts received tepid response. A tender by the Solar Energy Corporation of India (SECI) for 1,200 MW solar power purchase received bids from SoftBank-backed SB Energy and Chennai-based GRT Jewellers.

Though SECI guarantees payments, the tariff ceiling is fixed at Rs 2.65 per unit. An NTPC tender for 1200 MW, too, received poor response, forcing the company to extend the deadline. Read More

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Source:: Govt planning mega renewable energy projects like UMPPs

      

RIL to hive off oil-to-chemicals business into separate company in five years: RIL’s PMS Prasad

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By ET Energy World

Saudi Aramco’s decision to invest in Reliance Industries’ oil-to-chemicals business is the first step towards a strategic partnership which will entail carving out the business into an independent company and growing it, says RIL’s executive director, PMS Prasad. The deal will ensure crude supplies for RIL’s refinery and help Aramco tap demand in India.

How is the deal structured?

The oil-to-chemicals (O2C) business, which includes refining, petrochemical and our 51% stake in fuel retail joint venture (with BP), will be carved out into a division where Aramco will have an economic interest. It will be ring-fenced, with its own board, key management personnel and accounts; any deals with the rest of RIL will be on an arm’s length. The instruments that we will issue to Aramco for their investment will comply with Securities and Exchange Board of India and other regulatory norms. What will be the instrument and its terms will be decided between both parties. Aramco will pay RIL $15 billion. If the O2C board will have five members, two seats will be given to Aramco. Read More

The post RIL to hive off oil-to-chemicals business into separate company in five years: RIL’s PMS Prasad appeared first on EnergyInfraPost.

Source:: RIL to hive off oil-to-chemicals business into separate company in five years: RIL’s PMS Prasad