Category: Alternative/Renewable

October 10, 2015

NEW DELHI: Welspun Renewables today said its 32 MW solar power project in Bathinda has been commissioned, making it Punjab’s largest solar photo-voltaic power plant. “Spread across 140 acre in Bathinda district, the 32 MW (AC) green energy project was dedicated to the nation by Union Food Processing Minister Harsimrat Kaur Badal and Punjab’s Renewable Energy Minister Bikram Singh Majithia,” the company said in a press release.

Welspun Renewables claimed that the project is Punjab’s largest solar photo-voltaic power plant. It also said that the project has been commissioned ahead of committed time-line and will annually be feeding 48 million units of clean and emission-free energy into the Punjab state grid for the next 25 years. It is estimated that approximately 1,331,525 tonnes of CO2 emissions will be mitigated within next 25 years by the power plant.

The company said that in next few years, it will be setting up 5 GW capacities, and of this 1 GW will be commissioned well within 2015-16. Welspun Renewables has also signed an MoU for setting up an additional 151 MW solar capacity in Punjab.

“Renewable energy is a high priority sector. Our future development is intrinsically tied with the development of this industry. Punjab has taken a lead in meeting a significant percentage of its energy deficit with solar projects,” the

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October 10, 2015

The share of renewable energy in India’s installed power generation capacity might surpass that of hydropower. A push in this regard by both the Centre and states has increased the share of renewable energy to 14 per cent of the energy basket, against 15 per cent for hydro. The share of hydro is likely to decline further, with more than three dozen hydropower projects, accounting for about 26,000 megawatts (Mw), yet to be considered for construction, despite having secured the approval of the Central Electricity Authority.

Besides rehabilitation and resettlement issues, a delay in securing environment clearances have stalled hydropower projects. On the other hand, renewable energy projects, especially solar power plants, could add capacity quickly, said N Venu, president (power systems), ABB India. “Now, hydropower is in a drop stage. In the past year, we have received orders for about 1,500 Mw of equipment from renewable energy projects, while orders from hydropower projects have slowed,” he said. Through the past three years, the installed capacity of hydropower projects has remained around 40,000 Mw, while that of the renewable energy sector has

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September 29, 2015

NEW DELHI: Global investors are willing to commit up to USD 10 billion in the country’s renewable energy sector, Power and Coal Minister Piyush Goyal today said.

“… in one of my meetings in New York, a very large investor, which handles probably the world’s largest fund basket, has committed to me on the table that if you were to invite us to come in for renewable energy… then I’m willing to commit 10 billion dollars in a month,” he told reporters here. Goyal, who also holds the new and renewable energy portfolio, was speaking to reporters after the release of the report titled ‘Access to Clean Cooking Energy and Electricity – Survey of States’ (ACCESS). Replying to a query, he said the western world should give up its consumerist philosophy and actually start contributing to combating climate change.

At the function, he said: “The ACCESS study provides a holistic approach to analysing the deep distress in rural India due to poor cooking energy access and could be the handbook for all future discussions on this topic.”

“My government is committed to providing affordable and quality energy access to the entire country. I applaud the efforts of urban citizens who have already given up their LPG subsidies as part of the ‘Give it Up’ campaign

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September 28, 2015

Two state-owned companies, Indian Renewable Energy Development Agency (Ireda) and Housing and Urban Development Corporation (Hudco) are planning to raise a total of R1,949 crore by placing out tax-free bonds to institutional investors on Tuesday, according to information provided by bond market sources.

“Ireda plans to raise up to R600 crore while Hudco aims to raise R1,349 crore through a private placement of tax-free bonds— both  with a maturity of 10 years,” a source said adding that bidding will be held on Tuesday. Ireda was allotted a total limit of R2,000 crore of which 70% has to be raised through a public issue of debt while the rest—in this case R600 crore—could be raised through the private-placement route, according to a government notification.

Most other companies that have been permitted to issue tax-free bonds this fiscal have already tapped the private-placement route at least once so far and are now approaching the market with their public issues. In the case of Hudco, the company had reportedly raised R151 crore a few weeks back through the private-placement route according to bond arrangers close to the development. It had been allotted a limit of R5,000 crore on tax-free bonds out of which R1,500 crore could be raised through the private placement route. For this fiscal year, seven companies have been allotted a total limit of R40,000 cro

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September 28, 2015

India has the makings of becoming the clean energy capital of the world, participants of a high-level roundtable on renewable energy have said and asked Prime Minister Narendra Modi to allow states and cities to take the lead in pollution free energy initiatives. The roundtable was attended by Ernest Moniz, the US Energy Secretary, his predecessor Steven Chu, top energy sector CEOs and investors.

“Among the views expressed at the roundtable was the clear assumption that India has the makings of becoming the clean energy world capital,” External Affairs Ministry Spokesman Vikas Swarup told reporters after the roundtable. Modi had a meeting Moniz, wherein they discussed the recently held India-US Energy Dialogue.

Participants said that clean and renewable energy would soon be an inexpensive energy option with the electricity storage becoming cheaper, Swarup said. Participants were of the view that states and cities in India should be allowed to take the lead in clean energy initiatives, he added. “A related thought was that the current grid is not designed to carry the load of 175 GigaWatts of renewable energy that India is targeting and therefore a complementary effort is required on the grid side,” he said.

Private investment was emphasised as being vital for clean energy initiatives. Experts were of the view that India has to a

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September 28, 2015

SAN JOSE, CALIFORNIA:  Prime Minister Narendra Modi on Sunday chaired a roundtable on renewable energy with top energy CEOs and experts during which he emphasised India’s commitment to realize the vision of 175 GigaWatts of clean energy by 2022. At the roundtable, which was also attended by US Energy Secretary Ernest Moniz, PM Modi gave an overview of initiatives undertaken in India in the area of renewable energy, such as Kochi airport becoming a solar-powered airport and solar panels being installed over a canal in Gujarat as another example of the use of renewable energy. He said that early next month, a district court in the tribal belt of Jharkhand will become entirely solar-powered. PM Modi also mentioned coal gasification as an important area of research. He expressed confidence of a renewable energy revolution over the next decade, said an official statement.

PM Modi said there is massive scope of investment in the clean energy sector, for example, through the Railways, where 100 per cent FDI has been allowed. He said the government is working to address issues in regulation, and address the financial health of Discoms. Besides, Mr Moniz, the meeting was also attended by Prof. Steven Chu, former US Secretary of Energy.

Top energy CEOs and investors, including Ahmad Chatila, CEO SunEdison; Nikesh Arora, President an

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September 27, 2015

New Zealand-based companies are eyeing opportunities in clean technology in India and are keen to share their expertise in niche areas. Mike Allen, Special Envoy for Renewable Energy and Executive Director Geothermal, New Zealand, told BusinessLine: “We are here as much for the clean technology side as much as we are here for renewable energy. We don’t have extensive solar developments in New Zealand, but, we do have ability around the grid and grid integration side.”

“Our companies are typically small and are niche players. There are specialisation areas in water and renewables where we think we can fit in. We don’t have the capital backing of say a Tata, but we are looking at partnerships here,” said Allen. On India’s renewable energy market and programme, Allen said, “There is a lot of competition in the solar market in particular.

“Tariffs and pricing is being pushed quite low because of the competition making it hard to get returns but that might get balanced out in the future. It has to be seen whether the market will remain rational as it grows. He also was impressed that the individual project sizes have been kept smaller rather than building large plants.

“All renewable projects suffer from being in areas where the demand is not so much. If you can put solar power close to the transmission lines, then, there is

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September 21, 2015

WASHINGTON: India has appealed to American companies to come up with innovative solutions to address the massive energy needs of the world’s third largest economy, which is set to become the largest clean energy market in the next 10 years. Union Energy Minister Piyush Goyal was addressing a meeting of high level gathering of US companies in the renewable energy development and financing sector, organised by the Confederation of Indian Industry (CII) in partnership with the American Council on a Renewable Energy (ACORE).

While acknowledging constraining factors, the Minister urged the US and it’s constituent companies to be a partner in this process and to help come up with innovative solutions so as not to miss out on the tremendous opportunity in India which is set to become the largest clean energy market in the next 10 years, a media release said.

Addressing the concerns and challenges fac

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September 21, 2015

NEW DELHI: New Zealand can provide innovative assistance and advanced technologies to India in promoting the growth of renewable energy sector, country’s trade body NZTE said in a statement today. A delegation of clean-tech and renewable energy companies from New Zealand is coming to participate in the ninth Renewable Energy India Expo in Greater Noida. The delegation will be led by New Zealand Minister of Justice, Courts, Broadcasting and Communications Amy Adams. He will be accompanied by Mike Allen, Special Envoy for Renewable Energy and Executive Director of Geothermal, New Zealand.The five-day visit of the minister starts today.

“New Zealand plans to raise its renewable energy generating capability from 80 to 90 per cent by 2025 and could boost India’s fast growing renewable energy sector by providing innovative assistance and advanced technologies. This could help Indian government improvise the environment to support sustainable growth,” the statement by New Zealand’s international busin

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September 21, 2015

BHOPAL: Madhya Pradesh is working at a faster pace to set up 158 projects to generate 6,700 MW power through windmills. “The state is working at a faster pace to set up 158 projects for generating 6,700 MW wind energy,” an official of the Public Relations Department said today.

At present, the state is generating 878 MW power through renewable energy sources, he said. Besides that, 82 MW is being generated through biomass, another renewable energy source. In biomass, agriculture waste and non-useful grass is used to generate power. At present, 16 projects based on biomass are generating 165 MW power, the official said, adding that the Energy Development Corporation has implemented a new policy for attracting investment from private sector in this field. 

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