French energy giant Total to sign Iran gas deal, biggest since sanctions lifted
French energy giant Total will finally sign its multi-billion-dollar agreement to develop an Iranian offshore gas field on Monday, the oil ministry said, in the biggest foreign deal since sanctions were eased last year. “The international agreement for the development of phase 11 of South Pars will be signed on Monday in the presence of the oil ministry and managers of Total, the Chinese company CNPC and Iranian company Petropars,” a ministry spokesman told AFP. Total signed a preliminary deal with Iran in November, taking a 50.1 percent stake in the $4.8 billion (4.2 billion euro) project. China National Petroleum Corporation (CNPC) will own 30 percent and Petropars 19.9 percent. Total will put in an initial $1 billion for the first stage of the 20-year project. The gas produced will “feed into the domestic Iranian market starting from 2021,” a Total spokesman told AFP in Paris. He said the company would “implement the project with the strictest respect for national and international law”. The contract was initially due to be signed in early 2017, but CEO Patrick Pouyanne said in February that Total would wait to see whether the US adminstration of President Donald Trump reimposed sanctions on Iran. Trump threatened during his campaign to tear up the landmark accord between Iran and six world powers that came into force in January 2016 and eased sanctions in exchange for curbs to Tehran’s nuclear programme. His administration has taken a tough line on Iran and imposed fresh sanctions related to its ballistic missile programme and military activities in the region. But the White House has kept the nuclear deal alive, continuing to waive the relevant sanctions every few months as required under the agreement. It is partway through a 90-day review on whether to uphold the deal, although any move to abandon it would be strongly opposed by the other signatories — Britain, France, Germany, China and Russia. Monday’s signing will mark Total’s return to Iran, which has the second-largest gas reserves and fourth-largest oil reserves in the world. The French firm led development of phases two and three of South Pars in the 1990s and had signed up to develop phase 11 back in 2009. But it was forced to abandon its projects in Iran in 2012 when France joined European Union partners in imposing sanctions, including an oil embargo, over the country’s nuclear programme. Iran’s oil officials have been keen to attract Western investment and know-how to improve the country’s outdated energy infrastructure. Iran has also signed preliminary agreements with Shell and Russia’s Gazprom to develop oil and gas projects. Such deals have not been without controversy in Iran, which has bitter memories of exploitation and interventions driven by foreign oil interests. Conservatives criticised the move to award tenders to foreign firms last year. That forced the oil ministry to confirm that domestic conglomerates, including one controlled by the elite Revolutionary Guards, would be allowed to compete. The first stage of the new 20-year project at South Pars will cost around $2 billion and consist of 30 wells and two well-head platforms connected to existing onshore treatment facilities. The site will eventually pump 50.9 million cubic metres (1.8 billion cubic feet) of gas per day into Iran’s national grid. Paul Byron Jersey
Germany produced record 35 per cent power from renewables in first half 2017
Germany raised the proportion of its power produced by renewable energy to 35 percent in the first half of 2017 from 33 percent the previous year, according to the BEE renewable energy association. Germany is aiming to phase out its nuclear power plants by 2022. Its renewable energy has been rising steadily over the last two decades thanks in part to the Renewable Energy Act (EEG) which was reformed this year to cut renewable energy costs for consumers. Germany has been getting up to 85 percent of its electricity from renewable sources on certain sunny, windy days this year. The BEE reported on Sunday the overall share of wind, hydro and solar power in the country’s electricity mix climbed to a record 35 percent in the first half. The government has pledged to move to a decarbonised economy by the middle of the century and has set a target of 80 percent renewables for gross power consumption by 2050. It aims to cut greenhouse gas emissions by 40 percent in 2020 from 1990 levels and 95 percent by 2050. Reggie White Jersey
Telangana set to generate 5,000 Megawatt solar power by 2019
Telangana is set to cross the 5000 MW solar power generation capacity by 2019 , more than the 1300 MW installed capacity at present. This, officials said, was because the state adopted a distributed development model which is supported by the Centre. Under this system, solar project developers are offered opportunity to develop units based on the demand-supply situation with minimal operational losses. The renewable energy capacity of the state will touch 3000 MW by this year end as projects which have been tendered and are under execution, are expected to be commissioned as per schedule. These projects were awarded during 2015 and are expected to come on stream before December 2017. The state government has signed power purchase agreements for 3800 MW of power from these units and all of them are expected to be operational by March-June 2018. By touching 3000MW-mark, the state will also cross another milestone of achieving over 15% of total energy contribution from renewable energy sector. Currently, Rajasthan, which generates 1300 MW solar power, tops the list in the country with the highest solar power generation. Unlike other states, Telangana has not opted for mega solar parks but has planned for a decentralized model wherein it assesses the extra demand in different parts of the state and floated tenders accordingly. The state government also seeking to encourage setting up of mini solar plants close to transformers so that it could help provide power to agriculture sector with less transmission and distribution losses. “The per capita consumption in Telangana has gone up to 1,390 units per annum as against 1,100 units. Consumption in Telangana ranks high among States. The 24×7 power supply has started giving dividends in the forms of improved living standards and increased industrial production,” D Prabhakar Rao, Chairman and managing director of Telangana Transco and Genco said. Betting high on rooftop solar power installations, the state government recently erected a 900- kilowatt solar power installation at Raj Bhavan, one of the biggest such installations in the state. Incentives are offered to households who opt for rooftop panels to harness solar power which includes subsidy on the panels. Taking advantage of this, scheduled caste development department has proposed to set up 3MW capacity rooftop installations on 230 residential schools maintained by the department. Enthused over the success of its model, state is planning to come out with a new solar-wind hybrid policy to accelerate the growth of the renewable energy sector. Teez Tabor Authentic Jersey
For a smooth takeoff: Corporate travellers must give employer details for tax credit
Airlines have written to its corporate travellers to register their companies’ or employers’ GST number to claim a tax credit. Corporate travellers form a significant chunk of the air traffic in India. They comprise between 30% and 45% of passengers of a low-cost airline and up to 60% for a full service airline. GST of 5% has been levied on economy-class airline tickets and 12% is charged on business class. “It is mandatory for guests travelling for business to add their company’s GST details at the time of booking. To ensure a seamless experience, we request that you inform your guests travelling for business to register on our portal and claim up to 12% back on flights,” Jet Airways said in the letter to its registered passengers. “After registering, simply add your guest’s GST number every time you make a booking, and all other GST related details will automatically be added to your reservation,” said the airline. Passengers who have not added their GST number at the time of booking may do so within 72 hours of booking their ticket or before their flight departure, whichever is earlier, the airline said. GST invoices will be shared with the passengers’ companies monthly, which can then be used to claim GST benefits. IndiGo and Vistara sent similar emails to their passengers. The government since yesterday implemented a new tax structure which seeks to to replace at least seven indirect tax heads. “Earlier too the companies could claim a tax credit for employees’ corporate travel,” said M Shivkumar, controller at Jet Airways. “The airline then provided a certificate to the corporates with the service tax details against which credit was availed. Now, all the data led by the GST number will be fed into the GST network along with tax invoice details. Corporate entities can then track the transaction in the system and claim credit for the same, which effectively means physical document per se is not adequate unless the same is uploaded in the GST network system,” he added. “Also in the case of airline travel, service tax was extremely difficult to claim and led to litigations sometimes. Now, it would be much easier,” said an independent chartered accountant on condition of anonymity. Michael Matheson Jersey
Cabinet May Consider Rs. 17,000 Crore Hydro Power Policy This Month
The Union Cabinet may take up for approval this month the hydro-power policy which aims to provide Rs. 16,709 crore support for stalled 40 hydel projects, entailing 11,639 MW capacity, and to classify all such ventures as renewable energy. “Power Ministry had finalised the policy last month and sent to the Finance Ministry for vetting before placing it for the Cabinet approval,” a source said. The source said: “The policy may be listed this month for deliberation and approval by the Cabinet.” Once it is approved, the distinction between large and small hydro plants would go, which would enable India to achieve clean power capacity of 225 GW by 2022. At present, a hydro power project of up to 25 MW is classified under renewable energy and is entitled to various incentives provided by the government. Projects beyond this capacity are not in this category and hence not entitled to the benefits. Out of the 30 GW installed power generation capacity, 44.59 GW comes from large hydro projects (above 25 MW) and 57.26 GW from other renewable power generation capacities. India has set an ambitious target of adding 175 GW of renewable energy capacity by 2022 which includes 100 GW of solar, 60 GW from wind, 10 GW from bio-power and 5 GW from small hydro-power (up to 25 MW capacity each). Under the policy, the government will provide interest subvention of 4 per cent during construction for up to 7 years and for 3 years after the start of commercial operation to all hydro power projects above 25 MW. It is proposed that the funding for this policy would come from coal cess or national clean energy fund or non-lapsable central pool of resources for Northeastern states for eight years till 2024-25. A Hydro Power Fund would be created under the power ministry for providing funds to the projects under the policy. The policy also provides for Hydro Purchase Obligation (HPO) for hydro projects of over 25 MW capacity. Under this, the discoms would be mandated to buy a proportion of power from these plants. However, this benefit would be available to those hydro power plants, which would be able to begin commercial operations after five years of notification of this policy. The policy would also mandate power ministry to engage with bankers and financial institutions for modifying lending terms and conditions for hydro power projects. Matt Prater Womens Jersey
Renewable Energy: Here Is How To Use Subsidies For Sustained Growth
At present, installed electricity generation capacity in India is about 330GW. About 17.5 % (57.5GW) is through renewable generation (wind: 32.3GW, small hydro:4.3GW, solar:12.5GW and balance biomass generation: 8.1GW). Renewable energy capacity is likely to reach 30% by FY19. The country has set an ambitious target of adding 175GW of renewable generation capacity comprising 100GW solar, 60GW wind and 15GW bio mass, small hydro and others by 2022. The solar capacity target includes setting up of 34 solar parks with around 20GW capacity. Recently, the government has decided to establish another 20GW under solar parks. But wind and solar generation are susceptible to variability, which affects power system operations. In order to integrate high penetration of renewables several actions must be taken such as flexibility in the conventional generation, Renewable Energy Management Centres (REMCs) and augmentation of transmission systems. But to begin with there is no policy framework for electrical energy storage in India. The government should come out with one indicating the target & incentive package to encourage developers. This would facilitate appropriate regulatory framework in the country. Recently, CERC had come out with a discussion paper on storage, but it does not include pump storage, which is the most cost-effective and largest bulk storage source in the world. The national electricity policy mandates that a spinning reserve of at least 5% at the national level should be created to ensure grid security, quality and reliability of power supply. This amounts to almost 16.5GW considering present installed capacity. It is yet to be implemented. At least, 5GW reserve should be implemented on national basis to start with. More important, the country needs a time-based reserve system. Primary reserves (to be available in few seconds) are realised through automatic control of turbine speed governors. All generators must operate with free governor mode of operation (FGMO). As per IEGC/CEA technical standards, in thermal units all governors shall have a droop setting of between 3% and 6%, whereas 0-10% in case of hydro units. Primary reserves could also be provided by hydro pump storage. Secondary reserves (few seconds to 15 or more minutes) involve automatic generation control, which delivers reserve power to bring back the frequency and area interchange to target values. Tertiary reserves (to be available from 15 mins to few hours) for manual change in dispatching and unit commitment to restore secondary control reserve. Forecasting (both load & RE generation) is also essential to ensure resource adequacy. Suitable regulatory framework for forecasting, scheduling and imbalance settlement for RE generators at both inter-state and intra-state level needs to be implemented strictly. Green Energy Corridor project had envisaged REMC at regional/state-level and it’s implementation should be expedited. There is need for augmenting the transmission corridors in renewable rich states with coordinated transmission planning ahead of installation of renewable generation. Technical standards for RE generation incorporating features such as low voltage ride through, high voltage ride through, frequency thresholds for disconnection from the grid, active and reactive power regulation by RE generators need to be notified and implemented at the earliest. Further, ancillary services need to be put in place as support services for reliable operation of grids. Ancillary Services provide a framework for operationalising the spinning reserves and the modalities of scheduling, metering and settlement of the reserves. It would address congestion management and facilitate optimisation at the regional & national level. CERC has recently ordered technical minimum schedule for operation of central generating stations and inter-state generating stations to be 55% of maximum continuous rating loading or installed capacity of the unit of generating station. This should be brought down to about 40%. Flexibility in existing fleet of conventional generation as well as pumped storage plants, demand side management/demand response may be utilised for meeting changing load profile and maintaining system stability. Time-of-the-day tariff implementation would quickly bring implementation of demand response. Flexibility requirements should encompass the minimum and maximum generation level as well as the ramp up/down rates. Thus, market design of the power sector needs to be dynamic in nature. Renewable energy can now produce power that is even cheaper than coal. Their integration into the power system, therefore, depends on the presence of other technologies. Greg Zuerlein Womens Jersey
NLC Biggest Winner In 1,500-MW Tamil Nadu Solar Auction
India’s latest solar auction, one of the biggest in the country, drew a surprisingly enthusiastic response with a big chunk of the 1,500 MW of projects on offer won by a state-owned mining company. The lowest bid in the auction in Tamil Nadu, where solar radiation is weaker than in Rajasthan, came from Bengaluru-based Raasi Green Earth Energy, which won 100 MW at Rs. 3.47 per unit, according to a list of official winners provided by one of the successful bidders. Officials of the Tamil Nadu Generation and Distribution Corp., which invited the bids, could not immediately be reached for comment. Bids were invited in May and the results were declared on Friday. The corporation got a good response this time after two of its previous tenders were undersubscribed. “The interest in the 1,500 MW tender was largely due to pent up demand,” said Raj Prabhu, cofounder of Mercom Capital Group, which tracks the Indian solar segment. The tariff of Rs. 3.47 is well above the lowest solar bid in the country so far of Rs. 2.44 per unit, made at an auction at the Bhadla Solar Park in Rajasthan in May, but it is a substantial drop from the winning bid of Rs. 4.40 per unit at Tamil Nadu’s auction in February. Apart from weaker radiation in Tamil Nadu, developers have to find land for their projects, unlike Rajasthan’s Bhadla, where companies had assured land. There were 18 winning bids among the 25 put in for the latest Tamil Nadu auction, at tariffs varying from Rs. 3.47 to 3.97 per unit. The tender states that all winners will have to agree to sell the power at the lowest tariff reached or opt out. The biggest winner was public sector mining giant NLC India (formerly Neyveli Lignite), which had bid for the entire 1500 MW, but was awarded 449 MW. The company mines lignite, which is also called brown coal, and generates power. Coal miners in India are concerned about the challenge from green energy and looking for ways to diversify. Coal India, also state-owned, is seeking services of a consultant to prepare for the future as it faces uncertainties due to its carbon footprint and the government’s commitment to the Paris accord on climate change. The response to the tender is encouraging because solar projects in Tamil Nadu have been plagued with problems. “Tamil Nadu has been struggling to generate interest in its solar tenders due to its reputation for curtailing power and inconsistent payments,” said Prabhu of Mercom. These factors were responsible for the poor response to the two earlier tenders. Even in the latest auction, most big solar developers stayed away, the exceptions being NLC India, ReNew Power, which won 100 MW, Shapoorji Pallonji Infra, which sought just 50 MW, and Rays Power Infra, which got 200 MW. “Now that it has got bids at a price it wanted, it will have to be seen how Tamil Nadu executes from here and whether it can regain the confidence of the solar industry,” said Prabhu. Robert Quinn Womens Jersey
India’s highest petrol pump runs out of diesel
At an altitude of 12,250 feet from sea level, the only petrol pump in the entire Spiti valley has been without diesel for nearly a week now. This in the midst of the peak tourist season. Spiti is connected by road from Shimla and Manali but the tankers carrying fuel are not able to reach the filling station in Kaza, which is claimed to be the highest petrol pump of the country, due to multiple landslides and a damaged bridge. The nearest filling stations are in Kinnuar, Manali or Tandi (Lahaul) which are reachable only after several hours of journey. While local residents claim that they are not getting sufficient petrol or kerosene either, the administration has claimed that problem was limited to availability of diesel only. “Two tankers are stuck near Gramphu on Manali-Kaza road due to landslides and four tankers are not being allowed to cross Akpa bridge of Kinnaur as Border Roads Organization (BRO) engineers believe heavy vehicles can cause the bridge to collapse,” Spiti additional deputy commissioner Vikram Singh Negi said. “We have some diesel in storage. We are selling it only those in dire need so that vehicles can reach the next filling station. One of the tankers is expected to reach Kaza very soon which will definitely provide some relief,” he added. The Indian Oil’s filling station at Kaza is being run by HP State Civil Supplies Corporation. As the Apka bridge in Kinnaur was not able to carry heavy machineries, the official were planning to transfer fuel to small vehicles to decrease the weight on tankers. On the other side, landslides between Gramphu and Chhatru on Manali-Kaza road were blocking the road repeatedly. June to October is the peak tourist season in Spiti valley. Other months being extremely cold with temperature at some places dipping below minus 25 degrees Celsius, this is the season to start various construction works in the valley. Not only tourists but local taxi operators, buses and all machines running on diesel have been rendered useless. Washington Redskins Jersey
India gives Iran $11 Billion `Best Offer’ on Farzad-B gas field
An Indian consortium is willing to spend as much as $11 billion to develop a giant Iranian natural gas field and build the infrastructure to export the fuel as long as the Persian Gulf nation guarantees a “reasonable return” on the project, according to the company leading the group. ONGC Videsh Ltd. has offered to invest as much as $6 billion on the Farzad-B field and spend the remaining amount to build a liquefied natural gas export facility, according to Narendra Kumar Verma, managing director of the overseas investment unit of India’s largest explorer, Oil & Natural Gas Corp. The group is seeking a return of about 18 percent, and Indian companies are willing to buy all the gas exported from the project, Verma said. “We have given our best offer to them. Now, it is up to them to agree or not agree,” Verma said in a phone interview. “We have told the Iranian authorities very clearly that some basic returns are necessary.” As India, the world’s fourth-largest LNG buyer, seeks to lock up gas resources to meet growing demand and spur the use of cleaner-burning fuels, Iran is emerging from sanctions that stifled investment in its energy sector. The Persian Gulf nation on Monday plans to sign a formal contract with Total SA and China National Petroleum Corp. to develop its share of the offshore South Pars project, the world’s biggest natural gas field. Officials from Iran’s Ministry of Petroleum and the National Iranian Oil Co. were unable to comment Sunday on Farzad-B. The two countries had aimed to conclude a deal by February on developing the field, which India has said holds reserves of almost 19 trillion cubic feet. The consortium, which includes Indian Oil Corp. and Oil India Ltd., has been trying to secure development rights to the Farzad-B gas field since at least 2009. Delay Damage The delay over a final outcome has started hurting oil trade between the two countries. India, which bought Iranian crude even during the years of U.S.-led sanctions against Tehran, has recently reduced purchases, leading to the withdrawal by Iran of some benefits on sales in retaliation, Bloomberg reported in April. “We are ready to invest,” Verma said. “Ultimately, that’s positive for them.” The South Asian nation is promoting the cleaner-burning fuel to curb the use of more polluting alternatives such as coal and petroleum coke, an oil-refining byproduct, to meet its pledge of slashing emissions by a third by 2030. ONGC Videsh and Indian Oil each own 40 percent interest in the Farsi block that holds Farzad-B field, while Oil India has 20 percent. Jaromir Jagr Jersey
Chandigarh cuts line to earn from solar power, says rate high
Even as the Chandigarh Renewal Energy , Science and Technology Promotion Society (Crest) is struggling to meet the target of generating solar power set by the central government, the electricity department has stopped giving connections on gross metering under which the total solar power generated is sold to the department. Reasons: high solar tariff and absence of policy regulating purchase of solar power generated by private plants set up by city residents. The centre had selected Chandigarh to be developed as a “model solar city“. The Crest has to achieve target of generating 50MW of solar energy , both residential and government, by 2022 through net and gross metering. Net metering is an agreement that allows a consumer to sell excess solar energy to the utility. According to the solar tariff for the current financial year, the administration has fixed buying rate at Rs 8.57 per units with an aim to promote solar power. According to senior offi cials, high tariff rate is the main bone of contention between the electricity department and Crest. The electricity department has been turning down the applications for gross metering move by residents on the grounds that the high tariff will increased the power purchase cost. “The power purchase cost is passed on to consumers. For the benefit of a few residents, it will be unfair to pass any increase in cost to all consumers,“ said a senior official. The department has been pressing for framing a policy . The department caters to 2.15 lakh consumers, of which 1.75 lakh are in the domestic category . The Crest, on the other hand, has decided to move a petition before Joint Electricity Regularity Commission (JERC) seeking direction to the electricity department for resuming gross metering connections. The standoff with the power department is hurting Crest, which is already struggling to meet the target due to shortage of space in the city, which is spread in an area of just 114 sq km. The Crest in last three years has generated 20.36 million units (MU), equivalent to reduction of 1,410 metric tonne of CO2 and planting a total of 15.3 lakh trees. Of 20.36 MU, bulk of power has been produced by plants on government buildings. So far, the response from private sectors has not been impressive. K’Waun Williams Womens Jersey