Category — Renewable Energy

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

Solar Power Becoming Increasingly Important in India

India’s government plans to draw 40% of the country’s energy from renewables by 2030, and it is because of the government’s commitment that India is about to become the biggest market for solar energy, said San Jose, CA-based SunPower CEO Tom Werner.

Prime Minister Modi wants to spend $3.1 billion on state aid for India’s solar panel manufacturing industry to increase India’s photovoltaic capacity and create an export industry, according to Bloomberg.

Kamuthi Solar Power Plant

The World Economic Forum says SunPower isn’t the only company taking note. Having acquired San Mateo, CA-based SolarCity,  CEO Elon Musk of Tesla is also interested in the solar energy sector in India, and might enter the market as early as this summer.

April 29, 2017   No Comments

IDFC to Buy First Solar’s Assets in India

Chennai, India-based IDFC Alternatives, the asset management arm of the infrastructure-focused lender, is in talks to buy Arizona-based First Solar’s 200 megawatts of renewable power assets in India in a deal potentially valued at around $200 million.

Logo of IDFC Limited

Livemint reports that First Solar is one of the first overseas companies to enter India’s solar energy market, and it considers the country as its second-largest market after the U.S. in terms of total shipments. The Indian solar power generation space is getting intensely competitive, as India plans to generate 175 gigawatts of renewable energy capacity by 2022. Of this, 100GW will be from solar power projects.

In a report dated March 20, the New Delhi-based consulting firm Bridge to India said, “The country added 5,526MW of new solar capacity (up 83% over Fiscal Year 2015-16) and 5,400 MW of new wind capacity (up 63%) in the year.”

 

April 15, 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 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