Category — Renewable Energy

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

India Commissions Largest Solar Plant in the World

Kamuthi, in the southern state of Tamil Nadu in India, now has the world’s largest solar power plant in a single location. With a capacity to produce 648 MW of electricity, the plant covers an area of  4 square miles.  The project consists of 380,000 foundations, 2.5 million individual solar modules, 576 inverters, and 154 transformers.  Each day, the plant is cleaned by a robotic system that is charged by its own solar panels, Al Jazeera reported.

Kamuthi Solar Power Plant

This solar plant is backed by the Gujarat-based conglomerate Adani Group, and it was constructed in a record time of eight months. The government wants to raise $1 trillion to quadruple its current global solar power to 1 terawatt by 2030, and there are plans to create even bigger solar parks in the state of Andhra Pradesh, says Quartz.

 

December 14, 2016   No Comments

Cleantech Ecozen Solutions, India, Pioneers Solar Energy-Based Products

Three mechanical engineering students of the Indian Institute of Kharagpur teamed up to harness solar energy in creating products for farmers in rural India. Pune-based Ecozen, the company that they established, provides a portable, solar-powered micro cold storage system called Ecofrost that can accommodate 5-6 tons of produce which is a sufficient capacity for a single farmer. It can be monitored remotely by the team and can be operated via an Android app by the farmer.

Ecofrost

 

Their second product is a solar pumping system called Ecotron that can be retro-fitted on existing diesel pumps as well. Ecotron is equipped with a controller to store energy which can then be used to power other appliances such as lights and fans when pump is not in use, reports Outlook Business.

The company has won many accolades:

  • It won the Dow Sustainability Innovation Challenge at California Institute of Technology, Pasadena
  • It won the Economic Times-Power of Ideas award from DST, Govt. of India
  • Ecozen’s idea is among the world’’s top 30 business ideas at Stanford’’s E-bootcamp

December 3, 2016   No Comments

Schneider Electric Confident of Double-Digit Growth in India

French energy management company, Schneider Electric, is preparing to make India its export hub on the back of government’s policies such as Make in India, Digital India and Smart City Mission.  (Schneider owns the former American Power Conversion company  in the U.S. and still controls the APC brand).

Schneider Electric LogoThe company’s current focus is on building, infrastructure and industrial segments. It is also involved in India’s solar market both organically, as well as through acquisitions to diversify its growth vectors, reports moneycontrol.

In an interview with CNBC TV-18, Prith Banerjee, Chief Technology Officer of Schneider Electric said, “Digital India is extremely important and well aligned with our personal mission. Schneider has 4 priorities in terms of products and solutions and services and digitization. We want to make all our products digital. Many products we are building are going to be connected and a part of digital India initiative.”

October 18, 2016   No Comments

India Ratifies Paris Agreement on Climate Change

India ratified the Paris Agreement on the birthday of Mohandas K. Gandhi ( Mahatma Gandhi, revered as the Father of the Nation by Indians),  who was born Oct. 2, 1869.

“Today the government of India has demonstrated global leadership and vision by joining the Paris agreement on climate change,” U.N. Secretary General Ban Ki-moon tweeted.  “This historic step will further India’s sustainable path to growth and development.”

Climate Change

Currently sixty-two countries have joined, representing 52 percent of global emissions, according to the United Nations’ Framework Convention on Climate Change, reports the Washington Post.

Ajay Mathur, director general of the Energy and Resources Institute, New Delhi, said that the government plans to achieve its climate goals in three ways:

  • Launch a market next year to balance supply and consumption of electricity
  • Institute a program to increase the efficiency of the agriculture sector
  • Spur more efficient technologies in air conditioning, since cooling accounts for half of the growth in new electricity demand

October 3, 2016   No Comments