Economy June 04, 2014 00:00

By The Nation

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Gunkul to acquire stake in wind-power producer WED

The board of directors of Gunkul Engineering has approved the acquisition of common shares in Wind Energy Development Co (WED) from Impact Energy Asia Co 
WED is a wind-power producer with the electricity generated sold to the Electricity Generating Authority of Thailand (Egat) under a 10-year power-purchase agreement. A total of 50 megawatt at Bt3.50/ unit will be supplied to Egat as adder. 
In addition, WED will sell electricity generated from wind energy resource to the Provincial Electricity Authority (PEA) in accordance with two 10-year power-purchase agreements with 8MW and 2MW capacity at Bt3.50/unit, to be used as adder. 
Both power-purchase agreements, between WED and Egat and PEA, involve facilities located at sub-district Huai Bong, Dankhuntod, Nakhon Ratchasima.
WED, a certified operator of commercial wind power plants, expects construction of all of its wind farm projects to be completed by the end of next year. 
The company is currently in talks with a financial institution for investment funding.
Lifting of ban lessens impact on miners in India’s Orissa state
The speedy resolution of a temporary mining ban on Tata Steel and the Steel Authority of India Ltd (SAIL) should enable the companies to maintain their profitability and shield them from volatile iron ore prices, according to Standard & Poor’s Ratings Services. 
The government of the Indian state of Orissa recently allowed Tata Steel and SAIL to resume iron ore mining in the state at full capacity. 
The two companies have historically benefited from access to captive iron ore mines.
Tata Steel was more exposed to the effects of the ban than SAIL. 
Standard & Poor’s estimates that Tata Steel mines 70 per cent to 75 per cent of its iron ore from Orissa. 
The Orissa state government responded to the ban by providing express clearances to enable Tata Steel and SAIL to resume mining and has laid down certain conditions that the companies must fulfil in order to complete the licence renewal process. 
On May 16, 2014, India’s Supreme Court temporarily suspended mining operations in 26 mines in Orissa. 
The affected mines were operating under the second or subsequent rounds 
of deemed mining licence renewals, which are not allowed under the Mining and Minerals (development and regulation) act, 1957.
Joint drive to empower students with universal language of code 
Microsoft (Thailand), together with the National Council for Child and Youth Development (NCYD), recently hosted “We Speak Code” as part of a regional drive to empower millions of people across the Asia-Pacific region with the universal language of code.
Microsoft’s region-wide “Hour of Code” campaign, inspired by, was conceived to empower students across the Asia-Pacific region to develop coding skills through creative, intuitive exercises that lay down the foundations for a valuable 21st-century skill.