Category — Renewable Energy

Warburg Invests $100 Million in India’s CleanMax Solar

In its seventh transaction within one year, NYC-based Warburg Pincus will invest up to $100 million in Mumbai-based rooftop solar projects developer CleanMax Enviro Energy Solutions Pvt. Ltd. According to VCCEdge, the data research arm of VCCircle, this latest investment takes the total amount Warburg Pincus has committed in India to $1.14 billion.

CleanMax is the first renewable energy company that Warburg Pincus has backed in India since it entered the country two decades ago. According to the company’s website, it has more than 45 MW of installed and onsite projects, and caters mainly to corporate customers across automotive, food and beverage, IT and other industries.

Kuldeep Jain, CleanMax founder and managing director, said that his company aims to use the funds to expand in India and pursue growth opportunities in the Middle East and Southeast Asia.

CleanMax Solar Logo

 

 

July 19, 2017   No Comments

India, U.S., to Accelerate Cooperation in the Energy Sector

In the wake of President Trump‘s and Indian Prime Minister Modi’s meeting, the White House released a statement that said, “The United States and India are committed to realizing commercial civil nuclear cooperation, in particular through a contract for six Westinghouse Electric AP-1000 nuclear reactors to be built in Andhra Pradesh, India. Once completed, the project will provide reliable electricity for millions of Indian citizens.”

India’s Foreign Secretary S. Jaishankar said that by the end of the year Westinghouse will rework its current situation and conclude contractual agreements between the Company and the Nuclear Power Corporation of India for the six nuclear reactors, as also related project financing, reports the Economic Times.

Energy
The White House said Indian energy companies have signed more than $30 billion in long-term contracts for U.S.- produced liquefied natural gas, including from Louisiana and Maryland. The industry estimates that Indian companies have invested more than $10 billion in the United States’ liquefied natural gas and shale sectors.
The two countries also announced the Smart Grid and Energy Storage consortia under the U.S.-India Joint Clean Energy and Research Development Center.
Additionally, the U.S. Department of State is facilitating connections between American and Indian industry, state governments, and universities to advance energy solutions, the White House said.

June 27, 2017   No Comments

Tesla Seeks Import Duty Waiver Till it Can Make in India

Founder and CEO Elon Musk tweeted that Tesla is pushing for import tax waivers to launch its vehicle in India.

Musk  has shown support for India’s plans to have only electric cars on its roads by 2030. According to BusinessLine, India’s government is willing to talk to Tesla while also clarifying that the local sourcing norms don’t apply to cars.

Import duty of cars in India is as high as 125%. Completely-built electric cars priced less than $40,000 attract 60 percent customs duty. However, if assembled in India, the duty on a completely knocked down unit is 10 percent.

Tesla Cars

June 19, 2017   No Comments

India Aspires to Sell Only Electric Cars by 2030

A Government of India-led initiative – the National Electric Mobility Mission Plan – targets annual sales of 6-7 million EV/Hybrid vehicles by 2020. The government hopes that by 2030, all vehicles sold in India will be electric-powered says a blog post from India Energy.

Speaking on “Changing Energy Economics and India” at New Delhi, India’s minister for energy, Piyush Goyal, said that the country will help facilitate the electric car effort by offering subsidies for a couple of years. “After that,” he said, “the cost of electric vehicles will start paying for themselves,” reports CNN.

Elon Musk tweeted: India commits to sell only electric cars by 2030. It is already the largest market for solar power. https://t.co/EGBNTPzmE5 — Elon Musk (@elonmusk) June 1, 2017

India’s government is pushing to expand its solar energy capacity.

Modi tweeted: Paris Agreement reflects our duty towards protecting the Earth and our natural resources. For us, this is an article of faith: PM pic.twitter.com/8cnSqClBPf — PMO India (@PMOIndia) June 3, 2017

India Energy Logo

June 12, 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