Global Investment in Renewables to Touch $1.7 tn by 2020: Report

June 15, 2011

A report released by an American organisation, Pew Charitable Trust has projected that on a business-as-usual basis, $1.7 trillion would be invested globally in renewable technologies such as solar, wind, biomass and other low-carbon forms of electricity generation over the next decade. However, this would still be $546 billion short if the G-20 governments do not adopt more aggressive policies toward climate change.

The report, titled Global Clean Power: A $2.3 Trillion Opportunity, models three scenarios over the span of the next decade: A continuation of the status quo, the adoption of Copenhagen policies, and more enhanced clean energy policies. The highlight of the document is the claim that the UK will strengthen its position as an investor in green technology globally, increasing its spending by 260 per cent over the next decade. However, it will still fall short of India, which will nudge ahead into third place by 2020, behind China and the US.

Asian countries – particularly China and India – are expected to pour investment into clean energy regardless of what policies are adopted. Under the ‘enhanced policy scenario’, China, which last year became the world’s biggest investor in clean energy, is expected to triple spending over the next decade to over $ 90 bn per year by 2020, with more than half going on wind power. Chinese spending is forecast to be almost twice that of the second biggest spender, the US. Mature markets such as Germany, where renewables have enjoyed significant investment for some time, are expected to see investment levels decline over the decade.

India, Denmark to co-operate in Multiple Sectors

April 14, 2011

India and Denmark have decided to explore possibilities of co-operation in the areas of ship designing, maritime training and education, offshore wind energy and GHG emissions. According to an official statement, the decision was taken when Mr. Brian Mikkelson, Danish Minister for Economy and Business Affairs, met up with Mr. G.K. Vasan, Indian Union Minister for Shipping.

India adds 2,700 MW Renewable Power in 2010

April 14, 2011

Driven by the wind power sector, India continues to make progress in renewable energy capacity. It has added over 2,700 MW of grid-connected renewable capacity during 2010 as compared to the 1,056 MW in 2009. This capacity includes power from wind, biomass, small hydro and solar resources. The wind power sector alone has contributed over 2,000 MW in this. The figures were revealed by the Ministry of New and Renewable Energy through an official statement.

India-US clean energy research centre established

October 6, 2010

India and the US formally signed an agreement for cooperation on a joint Clean Energy Research Development Centre. The agreement follows from the discussions held between Prime Minister Manmohan Singh and President Barack Obama during the former’s visit to Washington in November 2009.

The areas of co-operation would include energy efficiency of buildings, smart grids, unconventional natural gas, second-generation biofuels, clean coal technologies and solar energy.

India Inc smells green money

August 24, 2010

Indian companies are going a long way in finding alternate sources of energy, and in the process, encashing a new opportunity in carbon credits. As many as 746 Indian companies, representing more than 40 sectors, account for 1,056 projects that have applied for CDM accreditation. According to industry chamber FICCI, as many as 114 firms out of India’s top 500 companies are involved in CDM projects.

A Crisil Research study reveals that the number of CERs in India is expected to increase to 246 million tonnes by December 2012, from 72 million tonnes in November 2009. The green-hued firms are spread across sectors such as steel, power, chemicals and consumer goods.

Bonn Climate Talks: India asks UN to take tough stand against protectionism

July 9, 2010

India has demanded that the United Nations must prevent any green protectionism by developed countries and include an explicit statement in the opening charter of any new deal to block carbon-based taxes being imposed on exports from developing countries such as India. The statement was made by the Indian delegation at the start of climate negotiations in Bonn. The UN talks on climate, in continuation of the last big meeting in Copenhagen, besides discussing the future of Kyoto Protocol will also look to hammer out a new long-term deal.

Bulgaria seeks investment in the renewable energy sector

July 9, 2010

Bulgaria, with the lowest corporate tax rate of 10 per cent in the European Union, wants Indian enterprises in the renewable energy sector – solar energy and wind energy – to invest in the country, said Mr HE Borislav Kostov, Ambassador of Bulgaria to India, during an interactive session organised by the Indian Chambers of Commerce.

Renewable energy constitutes a major part of the economy in Bulgaria and the country has plans to provide various incentives to investors in this sector.

Suzlon in talks with Caparo for $3-billion power deal

July 9, 2010

Suzlon Energy is in advanced talks with Lord Swaraj Paul’s Caparo Group to set up 3,000 MW capacity wind farms over six years, a deal which could bring in around $3 billion to the world’s third-largest wind turbine manufacturing company. The power plants will be developed for Caparo Energy, the London-based group’s joint venture with Finland’s Wartsila, and most of them are likely to be executed in India, according to a senior Suzlon executive. “Each mega watt of wind power set up by Suzlon for Caparo Energy could fetch the company over $1 million in revenue,” he said, adding that the two companies are likely to finalise the agreement this month.

According to the discussion between the two sides, Suzlon Energy will help Caparo identify wind farm sites in India and may also help in land acquisition efforts.

Caparo Energy India was set up in March this year with Wartsila, which specialises in manufacturing diesel and gas engines used for powering ships as well as for electricity generation.

Suzlon Green to Invest Rs 3 billion in 50-MW wind farm

June 23, 2010

Suzlon Green Power Ltd, part of the Suzlon group, outlined its plans to invest about Rs 3 billion (65 million USD) in setting up a 50-MW wind power generation capacity farm at Ramagiri in Anantapur district of Andhra Pradesh. “The company is in parleys with the representatives of Andhra Pradesh government and we are confident of securing necessary clearances for setting up the wind farm in the State. We expect to establish them by the year-end,” said Mr N. Ramani, head (projects), Suzlon Green Power Ltd.

Several other companies such as Shriram EPC and Enercon have come forward to set up wind power plants in Andhra Pradesh. “With the State government hinting at changes in their approach to encouraging wind energy projects, we may see about 200 MW of additional capacity coming into the State during the year,” Mr Ramani said.

Wind sector leads India’s Green Power Capacity

June 16, 2010

With major contribution from wind sector, India has added 2,330 MW of renewable energy to the grid during the fiscal 2009-10, taking country’s cumulative green power generation capacity to 16,817 MW as of March 31, 2010. In that sense, the wind energy sector continues to lead the country’s green power capacity addition and about 67 per cent of the new capacity addition of 2,330 MW came from wind. During the financial year 2009-10, India added 1,565 MW from wind, 305 MW through small hydro (up to 25 MW), 295 MW from cogeneration, and 153 MW of power through biomass. Besides, solar and waste to energy added 8 MW and 5 MW, respectively.

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