Category — Electricity

Russia to Build Two New Nuclear Power Plants in India

India and Russia signed the General Framework Agreement and Credit protocol for Units 5 and 6 of the Kudankulam Nuclear Power plant located in the southern state of Tamil Nadu. Nuclear Power Corporation of India Ltd., and Russia’s Atomstroyexport, a subsidiary of Rosatom, will build the reactors. Each of the two units will have a capacity to produce 1,000 MW of power.

Both countries agreed that there were ‘steady and demonstrable’ achievements in bilateral civil nuclear partnership, including transforming the Kudankulum site into one of India’s largest energy hubs, reports BusinessLine.

PM Modi and President Putin

“We will strive to build an ‘energy bridge’ between our states and expand bilateral relations in all areas of energy cooperation, including nuclear, hydrocarbon, hydroelectric, and renewable energy sources and in improving energy efficiency. Cooperation in the peaceful uses of nuclear energy has emerged as one of the hallmarks of the strategic partnership between the two countries, contributing to India’s energy security and energizing broader scientific and technological cooperation,” said a ‘Vision Document’ issued after the talks.

June 8, 2017   No Comments

Microgrids from IIT Madras Win IEEE award

India’s  IIT Madras, bagged the 2017 IEEE Spectrum Technology in the Service of Society Award for “having the most promising potential to provide the greatest overall benefit to humankind.”

IEE’s website mentioned that  micro grids designed at the Indian Institute of Technology Madras can serve as the sole source of electricity to homes not connected to the grid. And they can serve as a backup power supply to homes connected to it, to let lighting and essential appliances continue operating even during brownouts. In India, micro grids are expected to evolve rapidly.

Solar DC Inverterless

The Economic Times reports that the table-sized rooftop plant is a Solar-DC Inverterless system that is cost and energy-efficient. The system is fully equipped with DC wiring, and does not convert direct current produced by a solar installation into alternate current, since each time a unit of AC is converted into DC, there is a 15 percent loss of energy. A DC system is 2.5 times more efficient than the AC system and hence requires lesser space, said IIT-M professor Ashok Jhunjhunwala. The professor added that the solar-DC microgrid will help break the logjam that the domestic power supply currently faces in India.

May 27, 2017   No Comments

India’s New Business Opp: Air Conditioners and Power Plants

The Lawrence Berkeley National Laboratory, a specialist in international energy, says that India has four of the five most populous cities with the highest cooling requirements in “cooling degree days,” a measure of the number of degrees above 65º surpassed in a year, and is “poised for an explosion in room air conditioning that may require as many as 300 new electric power plants in the next 10 to 15 years.”

 Chart showing Cooling Degree Days in India

At a seminar hosted by the Stanford Precourt Institute of Energy, Dr. Nikit Abhyankar, a senior scientific engineering associate at the Berkeley Lab who leads the International Energy Studies Group’s work on the Indian power sector, said, “All the cities [in India] are very hot and very populous, which means that going forward, as people get richer, the demand for room air conditioning is going to be increasing.” Abhyankar adds that with the right policy support from the Indian government, India could innovate in manufacturing far more efficient air conditioner models that use refrigerants that do not contribute to global warming.

Forbes reports that air conditioning is expected to double the country’s electricity demand in 15 years, requiring 300 new electric plants just to keep Indians cool. Air conditioning is part of the reason India is expected to be the world’s largest contributor to new electricity demand between now and 2040.

 

May 15, 2017   No Comments

Impact Investor Acumen To Raise India-Dedicated Fund

Headquartered in New York City, global impact investor Acumen is planning to launch an India-dedicated fund, as the investor plans on raising funds from India.

The company was incorporated in 2001 by Jacqueline Novogratz, with seed capital from the Rockefeller Foundation, Cisco Systems Foundation and individual philanthropists. Acumen’s work in India spans four sectors—healthcare, education, clean energy and agriculture.

Acumen Logo

Ajit Mahadevan, India director at Acumen said, “Across the four sectors we work in, we will look at these two enabling themes [technology and financing], because on the back of that you can create accelerated impact. All our education companies have a technology element. In agriculture, the focus is on access to markets using technology,”  The impact investor is exploring new avenues such as student and school financing, health insurance and MSME debt financing, reports Livemint.

“Acumen has invested over $100 million globally and the largest country is India. About a third of that has been invested in India, around $32 million, making us the largest non-microfinance investor in our sectors,” added Mahadevan.

April 9, 2017   No Comments

Infrastructure Investments up 17 Percent in India

According to data from Mumbai, India-based investment bank Equirus Capital, India’s  infrastructure sector raised a total of $3.49 billion across 33 transactions in Fiscal Year 2017  compared with $2.98 billion raised in 31 transactions in 2016, an increase of over 17 percent.

The data also showed that the majority of private market transactions in the fiscal ending March 31 were led by the power, roads and renewables sectors and, within those, about 88% of the transactions were through mergers and acquisitions; the remaining 12% were through private equity investments.

Power pylons

Livemint reports that funds such as U.S.-based I Squared Capital, Indian asset manager IDFC Alternatives’ infrastructure fund, Canada’s Brookfield Asset Management, Australia’s Macquarie Group, and the Canada Pension Plan Investment Board (CPPIB) and Caisse de Depot et Placement du Quebec (CDPQ) have committed large investments in the sector and are looking to buy assets across roads, thermal power, and renewable energy to build their own portfolio in India.

 

April 8, 2017   No Comments