Sustainability Outlook Headlines

EBTC floats body to boost EU investment in India

The European Business and Technology Centre (EBTC), co-funded by the European Union (EU) and coordinated by Euro Chambers, has now floated EBTC Investors Circle to increase EU clean tech investments in India.

The move has been prompted by the Centre’s plans to turn India into a renewable energy capital of the world. The sector is looking to attract an investment of $200 billion in renewable energy alone over the next few years.

EBTC Investors Circle is a platform, which connects verified European clean tech organisations to global investors. The pitch document... Read more..

Date : Feb 17

Source: My Digital FC

SBI commits Rs 75,000 crore for financing clean energy generation

Country's largest lender State Bank of India today committed Rs 75,000 crore for generation of 15,000 MW of renewable energy in the next 5 years.

"SBI has committed to provide Rs 75,000 crore over a period of five years for the renewal energy sector," SBI Chairperson Arundhati Bhattacharya said at the first Renewable Energy Global Investors Meet (RE-Invest) here.

"The funding would be for 15,000 MW of renewal power. Of course, the proposals will have to be viable and they also have to be viable as per the norms of the banks," she said.

SBI has a... Read more..

Date : Feb 16

Source: Economic Times

World Bank agrees $8 million aid to India for climate change mitigation

India on Friday signed an agreement with World Bank for an assistance of $8 million to take up various adaptation measures in rural areas to deal with the threat of climate change.

The money will be used to implement special projects to improve adaptive capacity of the rural poor, engaged in farm-based livelihoods, to climate change in Bihar and Madhya Pradesh.

The assistance fund, under Sustainable Livelihoods and Adaptation to Climate Change (SLACC), will be for projects that will help community institutions of the rural poor, particularly women farmers, to... Read more..

Date : Feb 16

Source: Economic Times

Renewable Energy Ministry Wants Innovative Financial Models

The Renewable Energy Ministry has asked Finance Minister Arun Jaitley to come out with "innovative financing models" in the upcoming Budget to help the sector attract overseas funds, while amending the inverted duty structure.

"I hope in this budget some more inverted duties which is flagged off by this ministry will be corrected by the Finance Minister," Power, Coal and Renewable Energy Minister Piyush Goyal told reporters here.

"We are also looking at innovative financing models...to provide adequate funding in the sector and encourage investors all over the... Read more..

Date : Feb 16

Source: NDTV

Government aims to double renewable energy share in overall basket

Eyeing investments of up to USD 200 billion, the government is looking to more than double the share of renewable sources to over 15 per cent in the country's overall energy basket in about a decade, Union Minister Piyush Goyal said today.

At present, renewable energy has a 6 per cent share. "What we inherited is a mere six per cent share of renewable energy in the India energy basket...and we are looking to expand the frontiers of renewable energy in the energy basket of India to over 15 per cent in the next 10 or 12 years," Power, Coal and Renewable Energy Minister Piyush... Read more..

Date : Feb 16

Source: Economic Times

Think of innovative ideas to conserve energy: PM

To bridge the energy deficit, Prime Minister Narendra Modi on Sunday made a strong pitch for making renewable sources like solar and wind power affordable, even as he asserted that this green energy push was not to impress the world.

He also said India is working on building a consortium of 50 countries with abundant solar radiation, to pool research and technological advancements to improve its accessibility to the poor and in the remote areas.

Inaugurating the first Renewable Energy Global Investors Meet (RE-Invest), Modi also talked about "seven horses of... Read more..

Date : Feb 16

Source: Times of India

Renewable Energy Identified as One of Core Sectors for the 'Make In India' Initiative : Shri Amitabh Kant

For a rapidly urbanising India, energy security is a key challenge that needs to be met at the earliest . This was stated by Shri Amitabh Kant, Secretary, Department of Industrial Policy & Promotion (DIPP), at a session of RE-INVEST 2015 titled Make In India Renewable Energy Focus The urgency of the issue is evident from the fact that Indias urban population would increase manifold and there should be an additional incentive for spurring investments into building infrastructure for renewable energy to provide energy security. This should also boost the manufacturing sector as a whole... Read more..

Date : Feb 16

Source: Business Standard

Modi calls for innovative ideas to make clean power cheaper

Calling for innovation and research to make solar and wind power affordable, Prime Minister Narendra Modi said on Sunday that time has come for renewable energy in India.

“From `18-20 a unit few year back, solar power is already competing with conventional coal power and currently costs less than `7 a unit... I am sure that with innovation, we can bring the cost down further,” Modi said.

He said India is working on building a consortium of 50 countries with abundant sunshine, to pool research and technological advancements to improve accessibility to the poor... Read more..

Date : Feb 16

Source: Hindustan Times

Civic body wakes up to e-waste, to place bins in city

The Brihanmumbai Municipal Corporation (BMC) has finally woken up to the problem of disposal of electronic waste or e-waste generated in the city.

Officials said its solid waste management (SWM) department was working on a proposal to place e-waste bins in the city to provide people a safer way to get rid of e-waste, which includes discarded computers, old batteries, mobile phones, etc.

The scheme is part of the BMC’s five-year plan to rejuvenate the deteriorating waste management practices in the city.

According to a study on ‘Electronic Waste... Read more..

Date : Feb 16

Source: Indian Express

Incentive for green buildings in Kolkata

The Housing Infrastructure Development Corporation has decided to grant 10% additional floor area ratio (FAR) over the usual FAR for constructing residential buildings following green norms in Rajarhat, Kolkata.

Hidco chairman-cum-managing director Debashis Sen said that a rule was amended recently, allowing an additional 10% FAR for green buildings. "Now, this new rule comes into effect and it's applicable for residential buildings as well," he said. No additional fees will be charged for using the additional 10% of FAR.

However, fees will be applicable for... Read more..

Date : Feb 16

Source: Times of India

Esri India launches smart planning tools for smart cities

Esri India, a joint venture between NIIT Technologies and Esri Inc., country’s leading Geographic Information System (GIS) Software & Solutions provider, today announced the launch of Geodesign, a key framework for conceptualising and planning for ‘smart cities’ and associated tools.

The pace of urbanization is speeding up in India with an expectation of better facilities and living conditions. In this context the Government of India has embarked on a program to develop 100 Smart Cities. These tools launched by Esri, include GeoPlanner, a specialised application for land... Read more..

Date : Feb 16

Source: Financial Express

Govt begins steps to implement environment panel recommendations

Environment Ministry has initiated steps to implement some of the key recommendations made by a high-level committee constituted by it to review laws related to forests, wildlife, water and air.

Sources said the ministry has decided to carry out the process for selection of a technical consultant, for supporting the ministry in implementation of the "agreed recommendations" by the panel headed by former cabinet secretary T S R Subramanian.

The committee, which reviewed the green laws, has made important observations and 55 recommendations.

... Read more..

Date : Feb 13

Source: Zee News

Solar plan will not skid on oil prices,says Power Minister Piyush Goyal

Lower crude prices usually spell trouble for renewable energy projects as both institutional investors and Big Oil lose economic incentive to go green. But not so for India, says power, coal and renewable energy minister Piyush Goyal as the Narendra Modi government moves to ramp up solar power capacity to 100,000 mw by 2021-22.

"For us, renewable or solar is not only about economics. It's a deep passion and our PM's and nation's commitment -- in that sense, all our commitment -- to leave behind a cleaner world for the next generation. As the PM said when someone asked him... Read more..

Date : Feb 13

Source: Economic Times

Maharashtra Govt to build 11,500MW renewable energy plants

State government has decided to build renewable energy plants having total capacity of 11,500MW. It has set a target of completing the project by 2019. The project is being executed under prime minister's mission to create renewable energy potential of one lakh MW.

Energy minister Chandrashekhar Bawankule told the media that solar energy plants having total capacity of 7,500MW will be built. "Mahagenco will build 2,500MW plants under public private partnership (PPP) model. Government will float open tenders for the remaining 500MW. We will create 2,000MW wind energy potential... Read more..

Date : Feb 13

Source: Times of India

Punjab’s dream of a solar state: 200 MW by March 2015

Welspun Solar Punjab, Azure Urja , Madhav Solar , International Switchgears, Omega Solar Energy and Punj Llyod are among the well known companies that have joined hands with the Punjab Energy Development Agency (PEDA), the state government’s nodal agency for promotion of renewable energy, to realize Punjab’s dream of becoming a solar power state.

By March 2015, Punjab would have commissioned projects worth 200 MW entailing an investment of Rs 2000 crore. Other companies include Essel Renewable energy Limited, Essel Clean Energy Limited,, PL Surya Urja Limited, Abundant... Read more..

Date : Feb 13

Source: Financial Express

Reliance Power to develop 6,000MW of solar projects in Rajasthan

Anil Ambani-controlled Reliance Power Ltd on Thursday announced that it has signed an accord with the government of Rajasthan to develop 6,000 megawatts (MW) of solar power projects in the state over the next 10 years.

Reliance Power is currently developing a 100MW solar power plant in Rajasthan through its wholly owned subsidiary Rajasthan Sun Technique Energy Pvt. Ltd, which was awarded the project in December 2010. The project is situated at Pokhran, in Jaisalmer district.

“The CSP (concentrated solar power) plant is expected to generate about 250 million... Read more..

Date : Feb 13

Source: Live Mint

IPCC scientists call for focus on regional climate risks

From heatwaves and wildfires in Australia to flooding in India, climate change affects different parts of the world in different ways. In the last round of reports from the UN’s climate science body, physical scientists produced an atlas of regional temperature and rainfall projections.

But this has been underused in efforts to prepare for the impacts and threats of climate change around the globe, the top authors say. Ahead of a key meeting on the future of the Intergovernmental Panel on Climate Change (IPCC) in Nairobi this month, they are pushing for a heightened focus on... Read more..

Date : Feb 13

Source: RTCC

CLP India awards 100-mw wind power project in MP to Gamesa

CLP India, the Indian subsidiary of Hongkong-based power company CLP, today said it has awarded a 100MW wind power project in Madhya Pradesh to wind energy firm Gamesa.

The project is a turnkey project to construct 100MW wind farm in Chandigarh, Madhya Pradesh, CLP India said in a statement.

The Chandgarh project is due for commissioning in December 2015, it added.

The new wind project will increase CLP India's wind power portfolio close to 1100MW across six states - Rajasthan, Gujarat, Maharashtra, Tamil Nadu, Karnataka and Madhya Pradesh. ... Read more..

Date : Feb 13

Source: Economic Times

AP moots 50% hike in green energy generation

In a bid to boost generation of eco-friendly (NCE) power in Andhra Pradesh, the Naidu government has mooted ramping up the installed capacity of non-conventional energy generation sources to 1635MW during fiscal 2015-16 from 1085MW in the current fiscal, a jump of 550MW. The proposals have been submitted by the AP-based power utilities to the AP State Electricity Regulation Commission (APERC).

Once approved by APERC, the two AP discoms - Visakhapatnam-based Eastern Power Distribution Company of AP Ltd (APEPDCL) and Tirupati-based Southern Power Distribution Company of AP Ltd... Read more..

Date : Feb 13

Source: Times of India

US faces worst droughts in 1,000 years, predict scientists

The US south-west and the Great Plains will face decade-long droughts far worse than any experienced over the last 1,000 years because of climate change, researchers said on Thursday.

The coming drought age – caused by higher temperatures under climate change – will make it nearly impossible to carry on with current life-as-normal conditions across a vast swathe of the country.

The droughts will be far worse than the one in California – or those seen in ancient times, such as the calamity that led to the decline of the Anasazi civilizations in the 13th century,... Read more..

Date : Feb 13

Source: The Guardian

Orient Green gains on synchronizing 20 MW cogeneration plant at Kolhapur

Orient Green Power Company is currently trading at Rs. 15.30, up by 0.20 points or 1.32 % from its previous closing of Rs. 15.10 on the BSE.

The scrip opened at Rs. 15.50 and has touched a high and low of Rs. 15.50 and Rs. 15.05 respectively. So far 45845 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 20.10 on 20-Jan-2015 and a 52 week low of Rs. 8.54 on 26-Mar-2014.

Last one week high and low of the scrip stood at Rs. 18.00 and Rs. 14.15 respectively. The current market cap of the... Read more..

Date : Feb 13

Source: Live Mint

Panchayats to have stake in solar power projects

Amid the political debate over dilution of the law on acquiring land for industrial units or other projects, the renewable energy ministry has "cracked the code" for overcoming any opposition from the local population to setting up of big solar power projects.

The ministry is working on a policy to make village panchayats stakeholders in its plan to ramp up solar power capacity to 1,00,000 mw by 2021-22 as land acquisition has emerged as the bane of industrial growth.

"We are looking at land that is outside the purview of farming or urban usage. We are looking... Read more..

Date : Feb 12

Source: Times of India

Actis commits $230million to build Indian renewable energy platform

Actis, the global pan emerging market private equity firm, is committing $230 million to create an Indian renewable energy platform, Ostro Energy.

Ranjit Gupta has been hired as CEO of the platform. With a strong background in the Indian energy sector, Gupta is building a strong team to lead the business. Ostro Energy’s first project is Tejuva, a 50.4MW wind project, already under construction in the Jaisalmer district of Rajasthan. On completion, the platform aims to provide 800MW of capacity across several Indian states by 2019. Ostro Energy is the fifth such energy... Read more..

Date : Feb 12

Source: India Infoline

Renewable energy sector to attract $200 billion: Piyush Goyal

India's renewable energy sector is looking at attracting $ 200 billion in investments as several domestic and international firms queue up to tap the potential of green power, the government said today.

"In terms of companies which are participating, several have committed to invest in renewable energy and those commitments total to numbers which even are more than the entire mission we have set up," Power, Coal and Renewable Energy Minister Piyush Goyal told reporters here.

"We are looking at nearly twice the amount of interest than what our target is, more... Read more..

Date : Feb 12

Source: Economic Times