Category — Electricity

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

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

India Forecasts Energy Surplus! For Now

According to  the Load Generation Balance Report 2016-17 released by the Central Electricity Authority of the Ministry of Power (Energy)  in India:

  • The country may have 1.1 percent excess electricity supplies in the year ending March 2017.  (The India expert notes this is largely due to elimination of down time and losses; India’ growing economy will soon consume this surplus)
  • A 2.6 percent surplus for the period is forecast for peak periods, when daily demand is highest
  • India’s power deficit reduced to below 1 percent in May, 2016

“The overall surplus estimation, while skewed due to the position in Western region, demonstrates the progress India has made in resolving fuel and power generation issues,” said Sambitosh Mohapatra, a partner at PwC India. “As the economy grows, state utilities’ finances improve, and rural electrification progresses, the surplus will get absorbed.”

Power Poles

Bloomberg reports: “Though supplies may surpass demand at a national level several parts of the country may continue to face shortages, according to the Central Electricity Authority. Part of the reason is that money-losing state distributors curtail power purchases and resort to blackouts. A plan to restructure their debt and make them profitable is underway.”

July 11, 2016   No Comments

Wartsila to Supply Smart Power Generation Plant in India

Finland’s  Wartsila will supply a 70 MW Smart Power Generation plant to Assam Power Generation Corporation Ltd., (APGCL) a state-owned utility in north-eastern India. The order includes seven Wartsila 34SG engines running on natural gas. The power plant, delivered on a turn-key basis, is expected to be operational by March 2018.

The company said its engines can run at partial load while maintaining high efficiency, a feat not possible with the existing gas turbines reports Power Engineering.

“By absorbing the variations in the gas supply, Wartsila engines enable APGCL to produce more efficient power from the same amount of fuel without affecting the heat rate,” according to the company.

 

Power Plant in Assam, India

Power Plant in Assam, India

The project is financed by the Asian Development Bank as part of an investment programme for the energy infrastructure in the state of Assam. “This project will further strengthen Wartsila’s position in the utility power market in India that is looking for gas-based solutions,” says Partha Paul, Business Development Manager at the company.

May 22, 2016   No Comments