How Narendra Modi government got it right on wind power; prices set to tumble
Solar power tariffs came down to roughly a third in the last five years thanks to price discovery through the competitive bidding route. Wind power prices, after remaining rather stable through these years, appears to be on the solar sector’s heels now. Buoyed by the Centre’s award of 1,000 mega watt (MW) wind projects through competitive bidding that reduced tariff by 19% from the bottom of the current feed-in-tariffs range, the Rajasthan government is set to invite bids for 500 MW wind power capacity in the next couple of months, a person close to the development told FE. The capacity could be used for sales to other states as well. The trend is likely to be followed by other states as well in the future. Industry watchers expects that states like Maharashtra, Gujarat and Madhya Pradesh might be the first lot to follow suit. Currently, wind power tariffs are determined by State Regulatory Commissions through the feed-in tariff method, where the state regulatory commission, in consultation with the other stakeholders, arrives at a tariff for one year. The Modi government is now looking at competitive bidding route to discover the market rates for wind power projects across various states. The prevailing feed-in tariffs are in the range of R4.25-4.8/unit across various states in India; in the recently concluded competitive bidding conducted by the Centre in Tamil Nadu, tariffs dropped to R3.46/unit. In comparison, 25-year levelised tariffs for solar projects came down from Rs 12.2/unit in 2010 to Rs 3.3/unit (Rs 2.97 for the first year) in the case of Rewa solar park in Madhya Pradesh in February, 2017. A senior Rajasthan Renewable Energy Corporation official told FE: “We have decided that we will invite tenders for the wind projects as against the feed-in tariffs mechanism.” “Besides, there are some 100 MW of wind power projects that are in various stages of commissioning in Rajasthan. We want to put these projects also under bidding route,” the official added. Companies had erected turbines in advance expecting feed-in tariffs. The state’s decision to adopt the bidding route could hurt the turbine manufacturers. As a step to prepare themselves before awarding the inter-state or intra-state projects, states along with Power Grid Corporation of India are setting-up infrastructure to evacuate the wind and solar power generated within the states. “The country has the technical know-how, manufacturing base, generators, all we need is a strong policy towards acquisition of land for wind projects, and safer and faster evacuation of wind power across states, so that total generation from wind sector does not fall below the 5,525 MW achieved in FY17,” the official quoted above said. Domata Peko Womens Jersey
NTPC may pitch in to solve power crisis
A proposal on generating 175 MW of solar power at the NTPC Kayamkulam unit will be discussed by the Kerala State Electricity Board (KSEB) with the officials of the Central-public sector unit this week. The NTPC had submitted the proposal to the KSEB last month. A key issue pertaining to scarcity of power in the State can be resolved if the talks succeed. Speculations on the future of the Central PSU at Kayamkulam could also be set at rest if the project materialises, sources in the industry said. The NTPC has demonstrated its capability to produce solar power on the premises of the thermal power plant at Kayamkulam. A floating solar power plant of 100 kWp, the largest of its kind in the country, was commissioned last month. Apart from the floating solar plant, the public sector company is producing power from rooftop solar project there. The cost of solar power generation has come down drastically on account of modern technology. The rates of solar power generated at the Kayamkulam unit could be competitive, said NTPC unit General Manager Kunal Gupta. The rates could be around Rs. 3.50 per unit. The KSEB had avoided NTPC Kayamkulam for its daily power needs due to higher production cost owing to the high prices of the feedstock naphtha. With the solar power rates reaching a competitive level, the prospects are considered bright for signing a power purchase agreement between the KSEB and the NTPC. The NTPC offer for producing 175 MW could be considered a viable alternative to the proposal on the Athirappilly hydel project, mired in controversy. Antonio Gates Womens Jersey
Aramco seeks stake in India’s biggest proposed refinery
Saudi Arabia based and the world’s largest oil producer Saudi Aramco, is interested in taking a stake in India’s biggest oil refinery, planned to be set up on the west coast in Maharashtra. The 60 million metric tons per annum refinery has been mooted by Hindustan Petroleum Corporation (HPCL), Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL). “Saudi Aramco is interested in picking a stake in the west coast refinery while Abu Dhabi National Oil Co (ADNOC) is keen on investing in petrochemical projects,” media reports quoted union oil minister Dharmendra Pradhan as saying on the sidelines of the Global Natural Resources Conclave. IOC holds a 50 per cent stake in the refinery, while BPCL and HPCL will have a stake of 25 per cent each, which is estimated to cost Rs 1800 billion and will also house a mega petrochemical complex. The project will be set up in two phase of which phase one will have a 40 million metric tons per year refinery, an aromatic complex, naphtha cracker unit and a polymer complex and will cost around Rs 1200-1500 billion. The second phase will have a 20 metric tons per annum refinery and will cost around Rs 500-600 billion. (AR) Denis Potvin Authentic Jersey
India’s oil imports from Iran top 500000 bpd in 2016/17
India’s Iran oil imports jumped to a record high in 2016/17 topping half-a-million barrels per day as refiners boosted purchases after lifting of sanctions previous year. Refiners shipped in about 541,000 bpd of Iranian oil in the 2016-17 financial year, a growth of about 115 per cent over the previous year. Iran was India’s second biggest oil supplier – a position now belonging to Iraq – before economic sanctions aimed at Iran’s nuclear programme hampered its trade relations, forcing the South Asian nation to tap alternative suppliers. Reliance Industries, Hindustan Petroleum, Bharat Petroleum and HPCL-Mittal Energy Ltd (HMEL) were among Indian refiners that resumed imports from Tehran following the removal of anti-Tehran sanctions. India’s two largest crude oil importers from Tehran will cut their import from five million to four million tonnes in 2017-2018, reported the Indian Express, in an attempt to put pressure on Tehran to award the rights to develop the 12.5 trillion cubic feet discovery to the Indian state owned oil and gas company ONGC Videsh Ltd (OVL). National Iranian Oil Co. will cut the credit period on crude oil sales to 60 days from 90 days for refiners such as Mangalore Refinery & Petrochemicals Ltd. and Indian Oil Corp., the people said, asking not be identified as the matter isn’t public yet. International Olympic Committee and MRPL – largest state buyers of Iranian crude – will cut imports from Tehran to 4 million tonnes in 2017-18 from 5 million tonnes in the previous year. While the European Union and United Nations lifted sanctions on Iran over its nuclear programme more than a year ago, the United States has held separate measures in place and President Donald Trump’s administration has promised a tough line. Overall, India’s oil imports rose 4.7 percent in March from the previous month and by about 4.9 percent from a year ago, the report added. India is Iran’s second-biggest customer and the emerging center of global oil demand. Oil market sources say Iran has sold all the oil it had stored at sea for years – a sign of the country’s positive performance in marketing its vital crude oil supplies. The Organization of the Petroleum Exporting Countries pledged to reduce output by about 1.2 million bpd, but Iran was allowed a small increase to compensate for years of isolation. Iran’s Oil Minister Bijan Namdar Zanganeh said “there are many other customers” if India decides to cut imports, the state-run Islamic Republic News Agency reported on April 5. Iran and India were aiming to conclude an agreement on developing the field by February. Richard Mallinson, analyst for Energy Aspects, believes it is nearly inevitable that exports will now decline: “We do think that (floating storage) has been the primary cause of the boost in exports; we see a very hard path for Iran to raise crude output until it can get the Western expertise and investment back into the upstream, which has been notably slow to materialize”. “Their proposal was not profitable to Iran“. OVL has submitted a revised master development plan of over Dollars 5 billion for developing the field. Chad Thomas Jersey
In a big infrastructure boost, 871 km of the Brahmaputra in Assam to be dredged
In a bid to further give a boost to development in Assam, a total of 871 km of the mighty Brahmaputra in Assam will be dredged. It is learnt that the Centre will bear the expenditure. A senior official of the Inland Water Transport department said that a survey of 300 km of the Brahmaputra has been completed so far by the state PWD department for dredging of the river, said while participating in an All India Radio News talk show last night.BD Choudhury said help of experts will be taken for the dredging. The Inland Water Transport director said the dredging will bring opportunities to Assam as the state will get access to Chittagong port in Bangladesh benefiting 54 lakh people in the state involved in the water transport system, besides tourism getting a boost through improved water transport system.He said water taxi service will be introduced in Guwahati this year and the World Bank has sanctioned Rs 1000 crore for the development of Inland water transport in Assam. An expressway will be constructed along the river after dredging, Choudhury added.Dredging would primarily emphasize on erosion control, sediment management, and flood control and the whole process would be carried out in line with the hydrological character of the Brahmaputra, the statement said. Considering the annual silt load of Brahmaputra, water carrying capacity of the river has been reduced to an extent causing floods in the state when there was incessant rains.Dredging is very important and look what happened in Kashmir because Jhelum was not dredged properly. But, in cases where engineering science needs to be applied, dredging becomes important as without the application of dredging one will not be able to channelize the construction of the requisite edifices properly. Only by making adequate and correct usage of dredging tools and by dredging the right amount of underwater silt and compositions, have a lot of excellent constructions been done so as to be marveled by people across the world. Pedro Martinez Womens Jersey
Indian, Bangladeshi companies ink pacts worth over $9 bn
Companies from India and Bangladesh today signed pacts worth over $9 billion here aimed at deepening partnership in sectors like power and oil and gas. Among the MoUs signed in the presence of visiting Prime Minister Sheikh Hasina is a facility agreement between Bangladesh India Friendship Power Company (BIFPCL) and Exim Bank of India for debt financing for construction of 1,320 mw Maitree Power Project in Rampal in Bangladesh ($1.6 bn). The MoUs include an implementation and power purchase agreement between Reliance Power and the Ministry of Power, Energy and Mineral Resources for the first phase (718 mw) of the 3,000 mw power project at Meghnaghat, entailing $1 billion (out of a total proposed investment of $3 billion). HomeEconomy Indian, Bangladeshi companies ink pacts worth over $9 bn Indian, Bangladeshi companies ink pacts worth over $9 bn Companies from India and Bangladesh today signed pacts worth over $9 billion here aimed at deepening partnership in sectors like power and oil and gas. By: PTI | New Delhi | Published: April 10, 2017 2:34 PM 61 SHARES Facebook Twitter Google Plus Bangladeshi PM Sheikh Hasina and Prime Minister Narendra Modi (Source: PMO/Twitter) Companies from India and Bangladesh today signed pacts worth over $9 billion here aimed at deepening partnership in sectors like power and oil and gas. Among the MoUs signed in the presence of visiting Prime Minister Sheikh Hasina is a facility agreement between Bangladesh India Friendship Power Company (BIFPCL) and Exim Bank of India for debt financing for construction of 1,320 mw Maitree Power Project in Rampal in Bangladesh ($1.6 bn). The MoUs include an implementation and power purchase agreement between Reliance Power and the Ministry of Power, Energy and Mineral Resources for the first phase (718 mw) of the 3,000 mw power project at Meghnaghat, entailing $1 billion (out of a total proposed investment of $3 billion). Watch this also: The agreement between NTPC Vidyut Vyapar Nigam (NVVN) and Bangladesh Power Development Board for supply of power from Nepal envisaged an investment of $3.15 billion. The event also saw signing of pact between Adani Power (Jharkhand) and the Bangladesh Power Development Board entailing an investment of $2 billion and a power purchase agreement between Adani Power (Jharkhand) and Power Grid Company of Bangladesh. Besides, the MoUs signed include those on LNG terminal use between Petronet LNG, India and Bangladesh Oil, Gas and Mineral Corporation (Petrobangla), among others. The MoU-signing ceremony was organised by CII. Fozzy Whittaker Authentic Jersey
Budget carrier IndiGo claims to run 900 flights on single day; highest ever by any Indian airlines
Low-cost carrier IndiGo on Saturday claimed that it operated a total of 900 flights on April 7, making it the highest ever by any Indian airline company. Commenting upon the same, Aditya Ghosh, President and Whole Time Director, IndiGo said, “We at IndiGo are thrilled on having flown 900 daily flights for the first time yesterday… Now, the team is excited to reach the 1,000 flights milestone.” The budget carrier has recently added 35 new domestic flights in its summer schedule which will be operational during April and May. The airlines is also said to add new flight frequencies from cities like Chennai, Ahmedabad, Goa, Agartala, Amritsar, Trivandrum and Delhi. “Effective April and May, IndiGo will introduce new flights between Amritsar-Jammu, Chennai-Bhubaneshwar, Chennai-Indore, Kolkata-Jammu, Srinagar-Kolkata, Bengaluru-Mangalore, Mumbai-Mangalore, Sharjah-Thiruvananthapuram and Hyderabad-Trivandrum, respectively,” IANS quoted IndiGo saying in a statement. The airlines today has also announced discounted fares for select domestic routes starting at Rs 1,119. In a report published by NDTV Profit website, the IndiGo Rs. 1,119 offer is on Chennai-Bengaluru route. An advanced search on the IndiGo’s website showed that the Rs. 1,119 sale is available for travel in mid-May. Other low fares available under the special offers are Delhi-Jaipur (Rs. 1,200), Coimbatore-Chennai (Rs. 1,220), Visakhapatnam-Hyderabad (Rs. 1,221), Imphal-Guwahati (Rs. 1,222), and Goa-Bengaluru (Rs. 1,267). The airline recently announced introduction of 35 new flights as part of its summer schedule. HomeIndustry Budget carrier IndiGo claims to run 900 flights on single day; highest ever by any Indian airlines Budget carrier IndiGo claims to run 900 flights on single day; highest ever by any Indian airlines Low-cost carrier IndiGo on Saturday claimed that it operated a total of 900 flights on April 7, making it the highest ever by any Indian airline company. By: FE Online | Updated: April 8, 2017 8:50 PM 504 SHARES Facebook Twitter Google Plus IndiGo, 900 flights IndiGo, Aditya Ghosh, Low-cost carrier, indian airlines, flights from Delhi, Delhi flights, flights in India, cheap flights in India Advertisement Low-cost carrier IndiGo on Saturday claimed that it operated a total of 900 flights on April 7, making it the highest ever by any Indian airline company. (Source: Reuters) Low-cost carrier IndiGo on Saturday claimed that it operated a total of 900 flights on April 7, making it the highest ever by any Indian airline company. Commenting upon the same, Aditya Ghosh, President and Whole Time Director, IndiGo said, “We at IndiGo are thrilled on having flown 900 daily flights for the first time yesterday… Now, the team is excited to reach the 1,000 flights milestone.” The budget carrier has recently added 35 new domestic flights in its summer schedule which will be operational during April and May. The airlines is also said to add new flight frequencies from cities like Chennai, Ahmedabad, Goa, Agartala, Amritsar, Trivandrum and Delhi. “Effective April and May, IndiGo will introduce new flights between Amritsar-Jammu, Chennai-Bhubaneshwar, Chennai-Indore, Kolkata-Jammu, Srinagar-Kolkata, Bengaluru-Mangalore, Mumbai-Mangalore, Sharjah-Thiruvananthapuram and Hyderabad-Trivandrum, respectively,” IANS quoted IndiGo saying in a statement. The airlines today has also announced discounted fares for select domestic routes starting at Rs 1,119. In a report published by NDTV Profit website, the IndiGo Rs. 1,119 offer is on Chennai-Bengaluru route. An advanced search on the IndiGo’s website showed that the Rs. 1,119 sale is available for travel in mid-May. Other low fares available under the special offers are Delhi-Jaipur (Rs. 1,200), Coimbatore-Chennai (Rs. 1,220), Visakhapatnam-Hyderabad (Rs. 1,221), Imphal-Guwahati (Rs. 1,222), and Goa-Bengaluru (Rs. 1,267). The airline recently announced introduction of 35 new flights as part of its summer schedule. Being one of the largest passenger airline carriers in the country, IndiGo translate into a market share of 39.5 per cent as of February, 2017. The Gurgaon-based airline carrier currently operate flights connecting to 46 destinations across the globe- 39 domestic and 7 international. IndiGo has a fleet size of 131 including 19 new generation A320neos. Paul George Womens Jersey
2016 a Record Year for Renewables, Latest IRENA Data Reveals
Global renewable energy generation capacity increased by 161 gigawatts (GW) in 2016, making the strongest year ever for new capacity additions, according to data released today by the International Renewable Energy Agency (IRENA). Renewable Energy Capacity Statistics 2017, estimates that by the end of last year the world’s renewable generation capacity reached 2,006 GW, with solar energy showing particularly strong growth. “We are witnessing an energy transformation taking hold around the world, and this is reflected in another year of record breaking additions in new renewable energy capacity,” said IRENA Director-General Adnan Z. Amin. “This growth in deployment emphasizes the increasingly strong business case for renewables which also have multiple socio-economic benefits in terms of fueling economic growth, creating jobs and improving human welfare and the environment. But accelerating this momentum will require additional investment in order to move decisively towards decarbonising the energy sector and meet climate objectives. This new data is an encouraging sign that though there is much yet to do, we are on the right path,” Mr. Amin added. IRENA’s new data shows that last year’s additions grew the world’s renewable energy capacity by 8.7 per cent, with a record 71 GW of new solar energy leading the growth. 2016 marked the first time since 2013 that solar growth outpaced wind energy, which increased by 51 GW, while hydropower and bioenergy capacities increased 30 GW and 9 GW respectively —the best ever year for growth in bioenergy capacity. Geothermal energy capacity increased by just under 1 GW. Asia accounted for 58 per cent of new renewable additions in 2016, according to the data, giving it a total of 812 GW or roughly 41 per cent of the global capacity. Asia was also the fastest growing region, with a 13.1 per cent increase in renewable capacity. Africa installed 4.1 GW of new capacity in 2016, twice as much as 2015. This year’s edition of Renewable Energy Capacity Statistics contains for the first time data specifically for off-grid renewables. IRENA shows that off-grid renewable electricity capacity reached 2,800 megawatts (MW) at the end of 2016. Roughly 40 per cent of off-grid electricity was provided by solar energy and 10 per cent from hydropower. The majority of the remainder came from bioenergy. It is estimated that globally as many as 60 million households, or 300 million people, are served with and benefit from off-grid renewable electricity. Highlights by technology: Hydropower: In 2016, about half of new hydro capacity was installed in Brazil and China (14.6 GW in total). Other countries with major hydro expansion (over 1 GW) included: Canada; Ecuador; Ethiopia and India. Wind energy: Almost three-quarters of new wind energy capacity was installed last year in just four countries: China (+19 GW); USA (+9 GW); Germany (+5 GW); and India (+4 GW). Brazil continued to show strong growth, with an increase of 2 GW in 2016. Bioenergy: The majority of bioenergy capacity expansion occurred in Asia last year (+5.9 GW) and Asia is fast approaching Europe in terms of its share of global bioenergy capacity (32 per cent compared to 34 per cent in Europe). Europe (+1.3 GW) and South America (+0.9 GW) were the other two regions where bioenergy capacity expanded significantly. Solar energy: Asia saw the most growth in solar capacity last year, with capacity of 139 GW (+50 GW). Almost half of all new solar capacity was installed in China in 2016 (+34 GW). Other countries with significant expansion included: USA (+11 GW); Japan (+8 GW) and India (+4 GW). Capacity in Europe expanded by 5 GW to reach 104 GW, with most expansion occurring in Germany and the UK. Geothermal energy: Geothermal power capacity increased by 780 MW in 2016, with expansions in Kenya (+485 MW), Turkey (+150 MW), Indonesia (+95 MW) and Italy (+55 MW). Renewable Energy Capacity Statistics 2017 offers the most comprehensive, up-to-date and accessible figures on renewable energy capacity statistics. It includes figures from 2000 to 2016, and contains data from more than 200 countries and territories. Tobias Rieder Authentic Jersey
IREDA finances Rs 10,000 crore green projects during 2016-17
The Indian Renewable Energy Development Agency increased its financing of green energy projects considerably in 2016-17, crossing the milestone of Rs 10,000 crore in a single year for the first time. IREDA provided loans of Rs 10,200 crore through 2016-17 for 112 clean energy projects across solar, wind, small hydro and biogas. “In the coming year, we plan to do Rs 12,500-13,000 crore,” said KS Popli, chairman and managing director. It nearly doubled its support for solar projects to Rs 4785.87 crore in 2016-17 from Rs 2684.68 crore in 2015-16, but its financing of wind projects dropped slightly to Rs 2511.69 crore from Rs 2735.51crore. The company, currently an NBFC under the Ministry of New and Renewable Energy, with mini navratna status, also hopes to come out with an initial public offering later this year for which cabinet approval has been sought. “We plan to sell around 13 crore shares divesting 15% of our stake,” said Popli. The share price and amount to be raised have not yet been decided, but Popli expected shares to sell at a premium of Rs 40-50 a share following the listing. IREDA has also initiated the process of converting from an NBFC to a green bank. “In effect, we are already a green bank, but some more formalities have to be gone through before our name can be changed appropriately,” he said. “We are working on the process.” The falling tariffs of solar and wind power, thanks to the auction process initiated by the government, may please discoms and consumers, but financiers of renewable energy projects such as IREDA may have reasons to worry as their borrowers’ margins get squeezed. “Some people do feel that project viability may be affected by the dropping tariffs,” said Popli. “But I expect developers to take due care and get the right price for their power. My discussions with them suggest they have factored in everything. Besides, the advantage with low tariffs is that electricity boards will be more inclined to sign contracts for renewable energy which gives financiers like us comfort that repayments will be made.” Is it possible to make financing for renewable energy cheaper? “At present, loans are being provided at 10-10.5% by most banks and financial institutions,” said Popli, adding, “We have to come up with innovative solutions if we want to lower them further.” Vin Baker Womens Jersey
Unruly air passengers to face ‘severe consequences’: MoS for Civil Aviation Jayant Sinha
The civil aviation ministry today warned that unruly air passengers will face “severe consequences”, including police action, a day after Air India lifted the flying ban on Shiv Sena MP Ravindra Gaikwad. Gaikwad was barred by Air India and leading private carriers after he assaulted a staffer of the national airline at the Delhi airport last month. Following direction from the ministry, Air India lifted the ban yesterday and private airlines followed suit today. In a series of tweets, Minister of State for Civil Aviation Jayant Sinha said unruly behaviour by air passengers will result in severe consequences. This is the first official response from the ministry after the airlines revoked the ban on Gaikwad — a development that had become a political hot potato after the Shiv Sena, an ally at the Centre, sought lifting of the ban. “Air travellers should note that safety and security for passengers and crew are our paramount priority. Unruly and disruptive behaviour will result in severe consequences. This includes police action for a specific incident as well as being placed on a no-fly list,” he said. Sinha emphasised that the ministry is strengthening rules so that a national no-fly list can be implemented so that such incidents can be prevented and safety improved. About the incident involving the Shiv Sena member, the minister said Gaikwad had apologised and provided an undertaking that such incidents would not reoccur. “Therefore AI (Air India) has been advised to revoke his ban… Police investigations regarding Gaikwad’s conduct during the March 23 incident are under way and the law will take its own course,” Sinha said. Furthermore, in response to certain tweets related to Gaikwad incident, Sinha said police FIRs have been filed and justice will surely be delivered. He noted that case has been registered against Gaikwad, including sections 308 (culpable homicide) and 355 (assault). “A flying ban is meant to prevent future unruly behaviour, not to punish past behaviour. We now have an undertaking for future behaviour,” he added. Brian Flynn Womens Jersey