Category — Renewable Energy
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.
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
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.
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
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.
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
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.
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
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).
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