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Sustainability Outlook Headlines
IDFC Joins Goldman in Increasing India Wind InvestmentsIDFC Ltd. (IDFC), India’s biggest financier of clean-energy projects, will increase its investment in wind power, joining Goldman Sachs Group Inc. in adding to holdings in the nation. IDFC’s alternative assets arm will invest about 2.5 billion rupees ($44 million) over the next six months in its Green Infra Ltd. unit, Raja Parthasarathy, partner at IDFC Alternatives, said in an interview. That will boost its investment in Green Infra to 12 billion rupees to help the unit fund acquisitions before a planned initial public offering, he said. Goldman Sachs will raise its... Read more.. Date : Jun 7 Source: Bloomberg
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Attero Launches Clean E-India Environment Month E-waste Collection DrivesWhile in 2011 urban infrastructure development was allocated 0.7% of GDP, some studies have shown that this spending needs to be increased to at least 1.1% by 2031-32 .Attero has launched a month long series of E-waste Collection Drives as part of its Environment Month activities, beginning on World Environment Day (June 5, 2013). Organized as part of Attero and the International Finance Corporation’s (IFC) Clean E-India Initiative, the Environment Month events are aimed at keeping electronic waste out of landfills, by spreading awareness about e-waste and promoting safe,... Read more.. Date : Jun 7 Source: India Education Diary
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AP receives bids for 350 MW solar PV power units at Rs 6.49Thirty-four bidders have accepted the Rs 6.49 per unit price offer for solar photovoltaic power project development under the Andhra Pradesh State policy. Of the 1000 MW on offer, the aggregate bids resulted in response for about 350 MW. According to Energy Coordination cell, the response has been positive. The State aimed at attracting companies to set up about 1000 MW capacity through competitive bidding process. Of the total bids, 34 bidders accepted the offer price of Rs 6.49 per unit approved by the Group of Ministers (GoM) for installing 350 MW solar power plants. The... Read more.. Date : Jun 7 Source: Hindu Business Line
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Govt inks $150 mn loan pact with ADB for Uttarakhand hydropowerThe government has signed a $ 150 million loan agreement with the Asian Development Bank (ADB) for hydropower development in Uttarakhand, the multilateral funding agency today said. This is the fourth tranche of the loan under the Uttarakhand Power Sector Investment Programme that will help develop infrastructure for a new 400 kV (kiloVolt) substation at Pipalkoti and a transmission line from Srinagar to Kashipur at 400 kV level in Uttarakhand, ADB said in a release. "The project will help supply up to 2,500 MW (Megawatts) of hydropower from Uttarakhand to Northern India grid... Read more.. Date : Jun 7 Source: Economic Times
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Veolia to Supply Water to 200,000 in India State, Science CenterVeolia Environnement (VIE), the largest water utility in Europe, won contracts to build a distribution network and supply water to about 200,000 people in the south India state of Karnataka, including the Indian Institute of Science in Bangalore. No terms were disclosed for the deals in Ilkal and Bijapur as well as the Bangalore campus that will generate about 8.5 million euros ($11.2 million) in revenue over the multiyear contracts. “The goal is to provide residents and students with quality supply 24/7 as compared with the few hours of access they currently have each week,” Veolia... Read more.. Date : Jun 7 Source: Bloomberg
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India, Germany sign umbrella pact on energy, environmentSeeking to further strengthen bilateral ties, India and Germany on Thursday signed an umbrella agreement on financial and technical cooperation in the field of energy, environment and management of natural resources. "The agreement we have signed today is a record in our commitment. It clearly shows our determination to further strengthen our long-standing partnership with India in the field of development cooperation," German Ambassador Michael Steiner said in a statement here. It said India and Germany had negotiated about 723 million euros worth projects in 2012 as part of... Read more.. Date : Jun 7 Source: Hindustan Times
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Ecolab's Nalco to Buy Stakes in Water Companies in IndiaEcolab Inc. (ECL), the largest provider of chemicals and services for water and wastewater treatment, said its Nalco unit plans to grow through acquisitions in the south Asian nation. Nalco Water India Ltd. may expand by purchasing firms in complimentary fields as it seeks to meet rising industrial and urban demand for treated water in India, Managing Director Mahesh Rao said in an interview. “We’d like to look at potential opportunities,” Rao said by phone from the western Indian city of Pune. “The strategy earlier was not to look at acquisitions but now the time has come to... Read more.. Date : Jun 6 Source: Bloomberg
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Get set for an eco-friendly MetroHyderabad Metro will reduce about 3.5 lakh tonnes of carbon dioxide and other pollutants from the atmosphere in a year as it will contain usage of personal vehicles, reduce consumption of diesel and petrol, etc. A study conducted by the Central Road Research Institute(CRRI) had in fact revealed that the Delhi Metro had reduced three lakh tonnes of vehicular pollutants in 2011 and had even recovered the whole cost of the project in five years in terms of its economic benefits like reduction in fuel consumption, savings in travel time, reduction in pollution levels, etc.), said HMR MD... Read more.. Date : Jun 6 Source: The Hindu
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India Inc goes on green overdriveCorporates decided to go that extra mile to celebrate World Environment Day. Though an initiative of the United Nations Environment Programme, most companies use the day as an annual event to reinforce positive environmental action. The Mahindra Group conducted a free (pollution under control) PUC check-up camp for all personal and commercial Mahindra vehicles. An official said the customer centric initiative is usually organised at Mahindra dealerships’ workshops in June every year. This year, the initiative was conducted in association with the Society for Indian Automobile... Read more.. Date : Jun 6 Source: Hindu Business Line
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US firm to study tidal power generationAfter solar power, the Kerala State Electricity Board (KSEB) is all set to explore the opportunity to reap fortunes from the new 'tidal and flow auger turbine technology', developed by a US-based company, which specializes in developing cutting-edge technologies for power generation from renewable energy sources. Representatives of the company, Natural Power Concepts (NPC), have sought to carrying out a pilot study of the technology in Kerala. Six months ago, they had made a presentation to the KSEB top brass on the technology and its benefits. "The tidal and river flow auger... Read more.. Date : Jun 6 Source: Times of India
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In a first, Surat to run emission trading schemeIndustrial units of textile city Surat will become the first in India to run an emission trading scheme (ECS) locally.
As a part of pilot project by Central Pollution Control Board (CPCB) and union ministry of environment and forests, nearly 500 units located in and around Surat will trade for particulate matter. Those exceeding the limits will be fined but those who perform better will be rewarded, much akin to the way carbon credits are traded.
In order to monitor the particulate matter, Gujarat Pollution Control Board (GPCB) will install... Read more.. Date : Jun 6 Source: Times of India
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Goldman Sachs lifts investment in Indian renewable energyGoldman Sachs’s private equity arm is doubling down on its investment in an Indian wind farm company, putting another $135m into ReNew Wind Power, in a sign of the increasing interest in Asian renewables. The planned investment follows last month’s pledge from Goldman to invest up to $487m in JRE, a solar power generation company in Japan, where guaranteed electricity prices for 20 years is making investment highly attractive. Industry consultants say private equity venture capital interest in renewable energy is picking up this year, particularly in India and Japan, after it... Read more.. Date : Jun 5 Source: Financial Times
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Up in smoke: Carbon credit trade past its sell-by date?Carbon prices in international markets are at their lowest in a decade. Projects, especially in India and China, two major suppliers of carbon credits, are writing off expected revenues. Carbon trade, touted as the emission trading scheme that'd cheaply reduce emissions bringing green technologies within the financial reach of poorer countries, is at a near-collapse.
Worse, the logic of carbon-credit trading — that it's a cheap way emission reduction — is under scrutiny. Many claim it has resulted in private players gaining funds, doing little.... Read more.. Date : Jun 5 Source: Times of India
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Swiss PE fund Capvent picks up 51% stake in Morf IndiaA Switzerland-based PE fund, Capvent has picked up a majority stake (51 per cent) in Morf India, a Chennai-based water engineering company with its operations throughout South India, for an undisclosed sum. Morf India entered into a brand licensing agreement with Electrolux Home Products to manufacture and market the latter’s Kelvinator range of home water and air purifiers in India and Sri Lanka. The products were launched in the south Indian market in November, 2012. “This capital infusement will largely go into expanding this business segment so as to make available the... Read more.. Date : Jun 5 Source: mydigitalfc
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Clean Energy Woes: 21 lakh renewable energy certificates lie unsold with project developersRenewable energy projects — once lucrative enough to attract even alcohol makers and farm traders — are feeling the heat as a key attraction, the market for green certificates issued to developers, has collapsed alarmingly, casting a shadow on India's ambitious plan for solar, wind and small hydro projects. Until a year ago, it seemed a seller's market in state-promoted Renewable Energy Certificates (REC) as power distribution companies in states were asked to buy 5%-10% of their electricity from renewable sources or buy RECs instead. Project developers are granted one certificate... Read more.. Date : Jun 5 Source: Economic Times
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Dikshit inaugurates water re-cycling project in South DelhiChief Minister Sheila Dikshit today inaugurated a project under which waste water generated from kitchens in certain pockets in Vasant Kunj area of South Delhi will be recycled. The kitchen-waste water re-cycling project has been initiated by the Resident Welfare Association of C-9 block and supported by Delhi Parks and Garden Society. "The recycled water will be used for horticulture purpose. It is an effort to keep colony parks green without using ground water," Dikshit said. Appreciating the unique initiative to promote water conservation, the Chief Minister said it... Read more.. Date : Jun 5 Source: Business Standard
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CNPV realises first large scale captive consumption Solar project in IndiaCNPV Solar Power SA, a public limited liability company organized under the laws of the Grand Duchy of Luxembourg and a leading integrated manufacturer of solar photovoltaic products, today with Cheenu Group of Coimbatore, Tamil Nadu, India announced the advancement of the first large scale captive consumption Solar utility project in India as part of their 10MWp strategic agreement. Cheenu Group's continued business expansion was hindered by lack of available power and rising electricity acquisition costs, with dramatic adverse effects on segments of their operations. The initial... Read more.. Date : Jun 5 Source: 4-Traders
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Tata Power celebrates World Environment Day 2013Tata Power, India’s largest integrated power utility believes in the importance of environmental conservation and is well known for organizing various activities supporting this cause. In another such initiative, Tata Power organized a string of activities to commemorate World Environment Day which is celebrated on June 5th, 2013. Tata Power’s nationwide energy conservation movement Club Enerji led by school children organized a unique visit to Tata Power’s Hydro Power Plant in Khopoli. The visit focused on the importance of water as a natural resource and underlined the fact that... Read more.. Date : Jun 5 Source: Sustainability Outlook
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Suzlon Unit Wins 26-Megawatt Wind Turbine Order in FranceREpower Systems SE, the German unit of India’s Suzlon Energy Ltd. (SUEL), won an order to supply 26 megawatts of turbines for two wind farms in France. REpower has signed a contract with ABO Wind AG (AB9) to install the machines by early 2014 and to maintain them for 15 years, Pune, India-based Suzlon, said in an e-mailed statement today. Date : Jun 4 Source: Bloomberg
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DPSC Says Wind Policy Uncertainty May Delay ExpansionDPSC Ltd. (DPSC), a Kolkata-based power producer that has gained 14 percent this year, may delay a plan to double wind power capacity because of uncertainty over when India will reinstate a subsidy for the industry. The company, a unit of India Power Corporation Ltd., planned to add 100 megawatts of wind farms in the states of Andhra Pradesh, Maharashtra and Rajasthan. “The policy certainty is definitely affecting expansion plans,” Rakesh Bhatia, DPSC’s head of renewable energy, said in a phone interview. “We wanted to start earlier.” Installations in India, the world’... Read more.. Date : Jun 4 Source: Bloomberg
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Airlines Seek Carbon Market to Curb Post-2020 PollutionAirlines backed a call for an emissions market to offset growth in their greenhouse gases after 2020, a step that could spur international talks on tackling pollution from the industry. International Air Transport Association members adopted today at their annual general meeting in Cape Town a resolution in favor of a market-based mechanism to help address airlines’ emissions. IATA produced the proposal before a September gathering of the United Nations’ aviation panel that will consider the industry’s tools to fight climate change. 18:14 June 3 (Bloomberg) --... Read more.. Date : Jun 4 Source: Bloomberg
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Pollution level near Okhla waste-to-energy plant 25 times above limitThe process of burning solid waste to convert it to energy at a recycling plant in South Delhi has made the air near the unit 25 times more polluted than the permissible limit, a surprise check of the Okhla waste-to-energy plant has revealed.
The National Green Tribunal (NGT) asked Central Pollution Control Board (CPCB) to conduct a check. The board submitted the findings of the expert committee to the tribunal last week.
According to the report, the levels of dioxin, furan and particulate matter around the Okhla plant is far beyond limits... Read more.. Date : Jun 4 Source: Indian Express
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AP, Orissa join hands to build hydel projectAndhra Pradesh and Orissa, which are not seeing eye to eye over Polavaram project have arrived at an understanding, however, to construct a 60 MW capacity hydro-electric project jointly at a cost of Rs.300 crore across the Sileru river at Chitrakonda, some 20 km above Upper Sileru hydel power station. The understanding provides for the two States to equally share the cost of the project and also the power generated from it. G. Adiseshu, Director (hydel), AP Genco, told The Hindu that the draft agreement would be prepared soon for approval by both the States before commencement of... Read more.. Date : Jun 4 Source: The Hindu
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Tata Power's Karnataka wind project under UN clean energy programmeTata PowerBSE 0.51 % today said its 50.4 MW wind energy project in Karnataka has been registered under the United Nation's clean development mechanism programme. "The Gadag plant helps in reducing an annual average of 99,100 tons of carbon-dioxide equivalent, by producing 107,064 MWh per year (average) equivalent amount of clean energy," the company said in a statement. An instrument established under the Kyoto Protocol for achieving sustainable development, Clean Development Mechanism (CDM) would enable developing countries to attract investments in clean energy... Read more.. Date : Jun 4 Source: Economic Times
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Tata Chemicals celebrates World Environment Day on 5th JuneWorld Environment Day – an initiative of United Nations Environment Programme (UNEP) on 5th June - is an annual event that is aimed at being the biggest and most widely celebrated global day for positive environmental action. The official theme for the World Environment Day on June 5, 2013 is Think.Eat.Save, which concerns issues such as food waste, and sustainable consumption and production besides environment sustenance and growth. In order to commemorate the World Environment Day, Tata Chemicals which has a strong foundation of sustainability embedded across the organization, has... Read more.. Date : Jun 3 Source: Sustainability Outlook
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