Daily Archives: June 9, 2011
A recent report titled ‘The Rising Sun’, published by KPMG, indicates that the solar power in India is anticipated to fulfill around 5% to 7% of its power needs by 2021-2022 and will enable the country to cut down its coal imports by more than 30%.
However, the government regulatory structure in the country is yet to acquire a solid shape. The report indicates that governments and utility companies are finding it a challenge to buy expensive solar power at nearly Rs.12 a unit when the normal power is available for Rs.3 or Rs.4.
The report indicates that clean energy producers were earlier encouraged by the 15% clean energy mix spelled out by the National Action Plan on Climate Change (NAPCC), but the ministry had subsequently brought it down to 6% and the current production hovers around 3.5% to 4%. This has created mixed opinions and confusion among solar stake holders. The new proposed plan has set an overall target of achieving 21,700 MW in the ensuing six years, thus making the total share of renewables to 41,400 MW.
The government estimates that the solar power generation will ultimately go up in India due to the anticipated reduction in power production costs. The government expects that solar power will come down to Rs.11.80 per unit in 2013-2014 and ultimately reach a level of Rs.9 per unit in 2016-2017.
The report estimates that the solar power production will cut down carbon dioxide emissions in India by 2.5%, which is only a tenth of the 20%-25% reduction the country has agreed at the international summit on climate change held at Copenhagen. The report indicates that solar power producers in India are concerned about the slow implementation of a scheme that makes it compulsory for utility firms to buy certain amount of renewable power.
PROINSO will conduct the supply throughout this year and, according to company sources, is currently negotiating the provision for other solar energy projects in India in excess of 20 MW power for 2011, for both Indian and European developers with projects in India.
MECASOLAR and PROINSO- companies that form part of Grupo OPDE- plan to open an office in India before the end of the year, and will be travelling there in April on a trade mission with the Spanish Association for the Internationalisation and Innovation of Solar Companies (SECARTYS-SOLARTYS).
This mission will enable both companies, – who participated in the Renewable Energy Technology Congress held in New Delhi -to see first hand the commitment that the Indian Government is making to solar energy, its current plans for the development of solar energy the forthcoming years –National Solar Mission-, and the various plans that some regions are carrying out. During this mission contact was also made with a large number of promoters, EPC companies and customers.
At the end of this year both PROINSO and MECASOLAR will attend INTERSOLAR INDIA to be held from 14 to 16 December. Prior to this, they will be present at INTERSOLAR EUROPE to be held from 8 to 10 June in Munich, where they hope to make contacts with customers in India, taking advantage of the huge attendance at the event.
PROINSO have highlighted the enormous growth potential for the solar energy market in India in the coming years, as forecasts suggest that by 2020, the country will have installed 10,000 MW.
World leader in distribution
PROINSO, which has offices in Spain, Germany, Greece, Italy, United States, Britain, Canada, China and Czech Republic– expects to exceed the figure of 1,000 MW supplied throughout 2011. The company can provide these forecasts as they have closed orders which predict that this figure will be added together to the 812 MW which has already been supplied since 2005.
PROINSO has a strong international focus, as is indicated by its more than 1,555 qualified installers who are part of its Network, in addition to more than 90,000 m2 of logistics warehouses spread out among its delegations.
NEW DELHI — India has made it into the A-list of global investors in renewable energy, a recognition of the country’s proactive government energy program, natural resources and mushrooming swathe of entrepreneurs.
India ranked as the third favored destination with 35% of the respondents saying they would invest in India, behind the U.S., which was targeted by 53% of the respondents, and China (38%), according to a report, called Green Power 2011: The KPMG Reneweable Energy M&A Report,” released Wednesday by KPMG that is based on a survey of 500 executives active in the renewable energy arena globally.
Adeel Halim/Bloomberg NewsDismantled windmills lie on the ground at a wind farm in Kammalapatti in India, April 11.
For instance, India’s wind-energy companies, which are in the midst of a hectic pace of development, have attracted more than $586 million of project financing this quarter. This already is 63% of the $934 million raised in all of 2010.
“The Indian market has become increasingly dynamic in recent years as a result of strong natural resources, greater accommodation to international investment compared with China and a variety of government incentives,” the report said.
While Indian banks continue to be the main source of funding, international lenders are taking note. HSBC and Sumitomo Mitsui Banking Corp. provided $110 million debt project financing in March for a wind farm in the western state of Gujarat.
The pace of growth and investments in India is part of a worldwide trend. Deal activity among renewable energy companies globally surged 70% in 2010, and continues to maintain this hectic clip in the first quarter, according to the report.
In the first quarter, 141 transactions worth $11.2 billion were signed, while last year, an average of 96 deals worth $5.5 billion were announced in each quarter.
“All in all, 2011 looks set to be another buoyant year,” the report said, but added a caveat that the first quarter data doesn’t reflect the impact of the tsunami in Japan in March.
The survey data also revealed that investors preferred to invest locally rather than across borders. But nearly 60% of Asia-Pacific acquirers said they are targeting India or China. India also features as one of the top three destinations for solar energy companies along with the U.S. and Italy.
“With India it is a combination of factors,” said Siobhan Smyth, head of renewables at HSBC, who was interviewed as part of the survey.
“There is a portfolio standard on a state-by-state basis. Developers have the ability to get [public-private agreementss due to utility obligations. Then there are the generation-based incentive and tax-depreciation incentives. You are looking at 15% to 20% returns depending on the state you look at and the type of assets you are buying.”
The Solar Energy Company to adopt parent Company Name
SunTechnics Energy Systems, one of India’s largest companies dedicated to solar energy today announced that it would adopt its parent company name “Conergy” and be recognized going forward as Conergy Energy Systems. SunTechnics began its Indian operations in 2005 and the name change is in line with the company’s strategy to be recognized as “Conergy” worldwide.
Further to this announcement, the Indian entity will now focus largely on small and large scale solar photovoltaic projects. The company operates two core businesses: grid-connect systems (large scale solar parks) and off grid systems (Stand alone SPV Systems). The company’s product portfolio will continue to include Conergy grid-connect components, sourced from its European and North American factories and off-grid systems produced from its Bangalore facility which for the time being will continue to be promoted under the SunTechnics brand.
Conergy’s customers in India include giants in the telecom, oil and gas, government nodal agencies and manufacturing sectors, as well as the state and national government units.
Speaking on the development Mr. Prakash Shetty, CEO and Director of SunTechnics said, “The initiative to adopt our parent company’s name coupled with Conergy’s continued expansion and active participation in this market is a clear indication of Conergy’s long-term commitment to the strategic Indian market. The Indian market is strongly driven by a high need for electricity. Off-grid is one of Conergy’s pillars for success and growth in India, with booming sectors like rural electrification, rooftop systems, BIPV, telecommunications, railways – of which we own a significant market share. The Year 2011 started with a well planned expansion of the company’s SPV module manufacturing capacity from 4 MW to 25 MW which was followed by several significant orders that has helped Conergy develop a formidable business backlog. Our EPC business has developed very encouragingly due to the support from the National Solar Mission and incentives from individual states. India’s National Solar Mission calls for the installation of 20 GW by 2020.”
Strong growth expected
Solar energy has gained considerable importance in Asia over the past year – and the market will continue to grow rapidly. Industry experts at Bank Sarasin Asia estimate that in 2010 solar PV installations grew by 87% percent globally.
In 2010, the most promising market was India, which grew by 166 percent. Bank Sarasin estimates that India recorded 80 MW of newly installed solar capacity last year. Furthermore, they anticipate that the Indian PV market will grow by 76% annually in the period from 2009 to 2015.
About the Conergy Group
Conergy is the only solar company worldwide that delivers synchronised solar systems. The system manufacturer produces all components needed for solar installation under one roof. Furthermore, all necessary services related to the solar plants come from one single source.
The Conergy System Services deliver the “Total Sleep-easy Package” for the Conergy System Technology. From the planning and financing to the engineering, installation and all the way to the monitoring, maintenance, operational and commercial management and insurance, Conergy offers a service package to cover all possible services for one’s own solar plant.
The Conergy System Sales takes Conergy’s premium products and services directly to the customer in nearly 40 different countries. With 24 subsidiaries in 14 countries on four continents, the solar group operates closer to the customer than any other solar company. This way, the solar experts have generated more than half of their sales outside of Germany.
The company today employs more than 1,700 people. Since Conergy was founded, it has produced and sold more than 1.5 GW of clean solar energy. More energy than two average nuclear reactors or coal-fuelled power stations can produce.
The state government of Gujarat will buy power from the plant under a 25-year power purchase agreement, the New Delhi– based company said in an e-mailed statement. The International Finance Corp., the private-sector financing arm of the World Bank, is an investor in the project.
Other investors include the U.S. Overseas Private Investment Corp. and two venture-capital firms — Helion Advisors, based in Gurgaon near New Delhi, and Menlo Park, California-based Foundation Capital, Azure said.
YIE-Meet-Hyderabad, 12th June 201, 2:00 PM -6:00PM
Young Indian Entrepreneurs (YIE) is organizing YIE-meet on 12th June 2011,2:00 PM -6:00PM in Hyderabad. We invite you to the aforesaid event,it’s really a good opportunity to connect with fellow members
.There is NO registration FEE to participate in this meet.
Date & Time: ——————- On 12 June 2011 Sunday. 2:00PM to 6:00PM
Registration (Free): —————————– It’s free to participate.
Follow the link to book your seat now : http://www.yielive.com/1/events/page_reg.aspx Or you can just walk-in.
Agenda: ————– For details follow the link: http://www.yielive.com/1/events/page_agenda.aspx
If you are interested to know about sponsorship details, please write a mail:firstname.lastname@example.org Thank you and best regards vizai G Young Indian Entrepreneurs ( YIE ) http://www.yie.in ************************************************************************************************************** Upcoming Events ************************************************************************************************************** ===============================================
We are planning to conduct YIE-meet-Bhubaneswar in collaboration with KIIT-TBI (www.kiitincubator). We will share the full details soon; meanwhile we would like to know if you are interested to deliver a talk during this YIE-meet-Bhubaneswar. We also provide Air fare and guest house facility for speakers. If you are interested in speaker opportunity,please send a mail to: email@example.com ===============================================
24 – 25 June 2011, 9:00 AM – 6:00 PM at Taj Coromandel, Chennai Owing to the Comprehensive Economic partnership agreement signed between India and South Korean a world of opportunities is headed our way. From JV’s and collaborations to business partnerships and service contracts. IKC is the perfect platform to explore it all. So come on board. Special arrangements for budding Entrepreneur’s and young companies.
Delegate Registration : ———————————- Individual: Rs 4,750/-,
*Exclusive concession for YIE Members: Rs 3,750/-
Corporate: Rs 20,750 (4 Persons) Please send a mail to firstname.lastname@example.org for enquiries.
For more details: http://indokoreaconnect.com