Monthly Archives: July 2013

Asia’s Largest Renewable Energy Congregation, Renewable Energy India Expo to be held from 12 -14 September, 2013 at India Expo Centre, Greater Noida (NCR)

The 7th edition of the Renewable Energy India (REI) Expo 2013 will be held from 12 – 14 September, 2013 at the India Expo Centre, Greater Noida (NCR). Growing in scale and stature with every successive edition, the forthcoming Expo will not only play host to Asia’s largest congregation of the Renewable Energy industry, but will also welcome a high profile business contingent from Japan. For the first time ever, Japan has associated with REI Expo as “Partner Country” and has formalized Country Pavilion for the cause of promoting renewable energy industry. Distinguished dignitaries from Japan External Trade Organization (JETRO), Ministry of Economy, Trade & Industry (METI) Japan and New Energy and Industrial Technology Development Organization (NEDO) will be present to facilitate Indo-Japan trade ties and elevate Indian economy on the global map.

REI is an Associate Member of the prestigious Global Solar Alliance and offers unparallel global exposure to the participating companies. Additionally, REI Expo is also certified by US Commercial Service, the esteemed trade promotion arm of the U.S. Department of Commerce’s International Trade Administration.

Spread over 25,000 sqm, the 7th REI 2013 Expo will provide an unmatched platform to showcase the best technological advancements and innovations in the renewable energy sector. Concurrent to the Exhibition, the 3–day conference sessions will be the hub for technical discussions and an opportunity to deliberate on challenges impeding growth of the Solar, Wind, Bio, Small Hydro, Geothermal and Energy Efficiency.

India’s renewable market is among the largest and the fastest growing market of the world. With power generation from renewable sources on the rise in India, share of renewable energy in country’s total energy mix increased from 7.8 percent in financial year 2008 to 12.1 percent in financial year 2012. India has been consistently ranked among the top five countries (globally) in terms of its market potential for renewable energy. To drive the Ministry of New & Renewable Energy (MNRE)’s commitment to double the RE capacity to 55 GW by 2017, UBM India will continue to organise world-class REI Expo and bring multi-stakeholders together on a common forum.

As a curtain-raiser, the 7th edition of REI will celebrateThe International Financing Day” on 11 September 2013. The unique forum will host organized networking to connect top funding agencies from around the world with select Indian Project Developers. The opportunity will bring investors face to face with developers to discuss various possibilities of doing business in India.

Promoting a progressive forum, the upcoming REI Expo is estimated to attract more than 550 exhibitors, 12,000 trade visitors and 1000 conference delegates from across the world catering to the solar PV, solar thermal, wind, biomass, geothermal, hydro and energy efficiency industry segments.

Large Country Pavilions from Belgium, Canada, Japan and USA will enrich and expand the format further. The Japan Pavilion will feature world’s premium companies like Sony Corporation, Toshiba, Mitsubishi Heavy industries, Hitachi India, Kawasaki Heavy Industries and many more.

Another enormous boost to the development of the renewable energy industry is the participation of Asian Development Bank (ADB) at 7th REI. Whether it is through investment in infrastructure, funding, or sensitizing nations about the impact of climate change, ADB remains proactive in helping developing countries evolve into sustainable economies. At REI 2013, ADB is hosting multiple Workshops to explore various opportunities of investing into the sector in India. Further to the endeavor of disseminating content–rich information, Workshops will also be hosted by Ministry of Economy, Trade & Industry (METI) Japan and KPMG during the three days of the event.

Some of the leading exhibitors at REI Expo 2013 are Azure Power, Bonfiglioli, Bergen Associates, Dupont, Green Brilliance, Inox Wind, Inspira Martifer, Ikaros Solar, Fronius, GE, Gamesa, Godrej & Boyce, LTi REEnergy GmbH, Mahindra EPC, Mondragon, Moser Baer, Proinso, RRB Energy, SMA, Sterling & Wilson, Su-Kam, Schneider Electric, Sun Edison, Tata Solar, Waaree Energy, etc.

In addition, the Business Matching Programme being hosted at the venue during the 3 days will play a crucial role in connecting the exhibitors to potential buyers by means of pre-scheduling appointments. The Business Matching Sessions intend to provide excellent opportunities to network with industry professionals and establish new collaborations.

Continuing the strong legacy of presenting concurrent Conference sessions, the 2013 Show will host a highly informative Conference programme addressing the latest industry trends and challenges pertaining to the solar, wind, biomass and geothermal industry segments. The forum is an exclusive learning centre with various new formats, expert panels and facilitated networking sessions engaging the participants for a better experience. It will provide an in-depth insight into the industry and its challenges.

A host of leading international and domestic trade associations and media have extended their support for the success of the event. Leading associations like Indian Biomass Power Association (IBA), Maharashtra Solar Manufacturers Association (MASMA), Solar Power Developers Association, Tamil Nadu Solar Energy Developers Association (TNSEDA) and Solar Thermal Federation of India (STFI) are supporting REI 2013 to further advancement of sustainable environments. Some more honorable organizations supporting REI are C-WET (Centre for Wind Energy Technology), set up by the Ministry of New and Renewable Energy (MNRE), Government of India and Panchabuta focused towards renewable energy and clean tech area.

The entry to the Exhibition is free of charge. Visitors can pre-register online on http://www.ubmindia.in/renewable_energy and avail FREE shuttle service to the venue.

Dubai to convert your garbage bin into power

Your trash is Dubai Municipality’s source for power.

Yes, that’s right. The civic authority has undertaken a project that converts household trash into energy.

A first-of-its-kind in the GCC region, Dubai marked a ‘green’ milestone after the civic body’s Al Qusais landfill successfully converted trash into energy within a year of its launch.

The 1 Megawatt (1,000 Kilowatts) of energy generated in th plant is now used to power the entire site.

Eng. Hussain Nassir Lootah, Director General of Dubai Municipality and Dr Rashid Ahmed Bin Fahad, Minister of Environment and Water, unveiled the project on Monday night.

The initiative underlined the ‘green economy for sustainable development’ vision of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, and Ruler of Dubai.

Modelled on the United Nations Framework Convention on Climate Change (UNFCCC), the Clean Development Mechanism (CDM) project will also reduce greenhouse gas (GHG) emissions equivalent to about 250,000 tonnes of carbon dioxide.

Now, work is in progress to generate 20MW of power from landfill gas by the year 2020.

Speaking to Emirates24|7, Eng. Hussain Nassir Lootah said: “We’ve succeeded in producing 1MW, and now we are working towards increasing that to 20MW. It is a huge challenge but we are hopeful of achieving it.”

Talking about how the energy generated will be put to use, Lootah stated that the next step would involve talks with Dewa (Dubai Electricity and Water Authority) where they will check how it can be integrated to the grid of the city.

“Such initiatives are very important for cities like Dubai. It highlights how we care about the environment, and how we are keen to develop sustainable energy and reduce harmful impact on our environment.”

Talking about the municipality’s commitment towards establishing a sustainable environment in the city, he said: “The project, which is in partnership with the private sector, also complements the Dubai Integrated Energy Strategy 2030 to explore alternative energy sources to reduce the demand on the existing power grid.

“With Dubai’s bid to host the World Expo 2020 going full steam, we are further highlighting our leadership in creating innovative solutions for the future through this project.”

Dr Rashid Ahmed Bin Fahad, Minister of Environment and Water, endorsed Lootah’s vision.

“This project shows that UAE is working within the international arena, under the Kyoto protocol. This will encourage others to come up with green technology.

He emphasized that this is a first in the region where power is generated from the landfill. “We have the waste water plant in Dubai that has been running for more than 25 years. This is a step forward, and shows UAE’s commitment towards generating green energy.”

Eng. Abdul Majeed Saifaie, Director of Waste Management Department at the municipality, spoke at length about the challenges that went into ensuring the project was a success.

“We had to look into the safety features and provide good working environment because the landfill is exposed to gas and is prone to fire. We had to look into various factors – safety, environment and economic, which we have successfully achieved.”

Spread over 3.5 square kilometres, the Al Qusais landfill is one of the largest sites for municipal waste collection in Dubai and receives about 5,000 tons daily.

 

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Bhel cuts power equipment prices to fight slump

Bharat Heavy Electricals Ltd (Bhel), India’s largest maker of power equipment, cut prices by at least 15% in the past year to stem a slide in orders that threatens to send profit lower for a second straight year.

“Electricity producers are scaling back investment because of a shortage of fuel, hurting manufacturers of equipment such as boilers, turbines and generators,” said P.K. Bajpai, finance director at the state-owned company. “Pending projects aren’t yielding orders as Asia’s third-largest economy expands at the slowest pace in a decade, according to Bajpai.”
“We are trying to bid as aggressively as possible, but there’s overcapacity in the market,” Bajpai said in an interview. “We’ve corrected our prices in line with the market. We can only wait for things to improve as they will take time to get sorted.”
Shares of the New Delhi-based company have tumbled 33% this year, the fifth-worst performer on the benchmark 30-stock BSE Sensex, after net income fell for the first time in 12 years. The South Asian nation plans to add 118 gigawatts of generation projects in the five years through March 2017 after falling 31% short of its capacity addition target of 80 gigawatts in the previous period.
Profit drop
Bhel, scheduled to report on 3 August its performance for the quarter ended 30 June, may say net income declined 14% from a year earlier to Rs.793 crore, according to the median of 38 analysts’ estimates compiled by Bloomberg.
Of the 58 analysts who track the stock, 32 recommend selling it, while eight favour buying it, according to data compiled by Bloomberg. Shares of Bhel dropped 2.8% to Rs.152.55 on Tuesday in Mumbai, 74% down from a peak of Rs.586 reached in November 2007.
A shortage of coal and natural gas, fuels used to generate power, and the inability of indebted state distribution utilities to pay have reduced generation projects. Plans by power producers to invest as much as $43 billion have been shelved as the $1.8 trillion economy expanded 5% last year, the least since 2003.
Environmental concerns and delays in land acquisition are also stalling investments.
Stalled projects
Tata Power Co. Ltd, India’s second-largest and third-most indebted generator, is struggling to turn around the nation’s biggest power plant by allowing it to seek higher tariffs and find cheaper fuels as it negotiates with lenders to waive penalties for failing to meet some loan conditions.
“Producers, including Reliance Power Ltd, Adani Power Ltd and state-run NTPC Ltd have together shelved more than 50 gigawatts of projects, citing fuel shortages. Projects with a generation capacity of 7 gigawatts were stranded without coal,” B.K. Chaturvedi, member-energy at the Planning Commission said in February.
Bhel’s sales in the 12 months ended 31 March grew less than 1% to Rs.47,620 crore, slowing from an average 25% in the previous four years, while net income declined 6% to Rs.6,610 crore.
“At the moment, nothing seems to be going in favour of the company,” said Anubhav Gupta, an analyst at Kim Eng Securities Pvt. in Mumbai. “For Bhel’s fortunes to revive, the government has to take some special measures for the power sector.”
Cutting costs
“Bharat Heavy’s profit is set to drop in the current fiscal year and next,” said Gupta and Chirag Muchhala, an analyst at Nirmal Bang Equities Pvt. in Mumbai. “Average annual orders won by the equipment maker more than halved in the two years through March 2013 from an average Rs.59,700 crore over the previous three years.”
“Demand for the machinery may increase during the nation’s 13th Five-Year Plan that starts April 2017, when the government prepares an expenditure outlay, benefiting Bhel,” Satish Kumar and Jay Kakkad, analysts at Standard Chartered Securities India Ltd, wrote in a 18 July report.
“The company also expects to cut costs by manufacturing some components locally and as 12,000 workers retire in the next five years,” they wrote.
Besides an economic slowdown and fuel-supply bottlenecks, local competitors and cheaper imports from China have also hurt Bhel. The company’s share of orders have fallen to 41% in the current five-year plan from 49% in the prior period, Bhel said in a presentation in November.
 
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Need to make power a national sector: Expert

India should make power a national sector and and de-link it from politics to meet the country’s growing electricity demand, an expert said Tuesday.

“Declaring the power sector as a national sector would create the right environment for investments, both public and private,” Harry Dhaul, director general of the Independent Power Producers Association of India (IPPAI), told IANS.

The power industry expert said that ironing out uncertainties in both policy and regulation matters as well as “de-linking politics from the power sector” and encouraging sustainable agriculture with lesser quantum of electricity and water input would help India on power front.

He added that India will have to juggle between nuclear, hydro, thermal, renewable as well as conventional power resources to meet its electricity needs in the next 20 years.

“If the government of India creates the right environment, the installed capacity of the Indian power sector will be around 750,000 MW and the load despatch ability will also be much higher. This will have to have a mix of nuclear, renewable, hydro, and thermal,” Dhaul said.

He is here to participate at the 14th edition of Regulators and Policymakers Retreat 2013 to be held from Aug 1-4. Themed as ‘Democracy versus Development’, the event will see decision-makers, regulators and industry experts deliberating on various developmental issues.

“We will find solutions to various issues bedevilling the power sector. These solutions include new concepts such as general network access in transmission, creation of the national power beltway and energy storage,” Dhaul said.

He added that the conference would also explore the roadway to reforms in the power sector and “encourage the private sector to invest and participate in building India’s power infrastructure”.

He also said that as long as India depends on oil imports to produce power, it would always be at the receiving end of the dollar-rupee ratio.

The Indian power sector’s installed capacity, Dhaul said, is in the range of 300 Giga Watts (GW), but the maximum despatch achieved is 130 GW only. The demand for power will grow “exponentially”, he said.

On whether nuclear power would help India in meeting its future power demand, Dhaul said: “Potentially, yes. Nuclear power is stable, clean, and cheap. It does not have the vagaries of the oil and gas market”.

 

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CEA : Electricity Generation report for the month of June’13

                                                                                                                                    HIGHLIGHTS


All INDIA GENERATION
All India Generation for the month was 76 BU compared to 77 BU last year giving a negative growth of 1.25% and it is 95% of the target. During the period April 2013 to June,
2013, All India Generation was 238 BU compared to 231 BU over the last year giving a growth of 2.84% and it is 101.46% of the target.

THERMAL GENERATION
Thermal Generation for the month was 61 BU compared to 62 BU last year giving a negative growth of 2.40% and it is 92.53% of the target. During the period April 2013 to
June, 2013, Thermal Generation was 198 BU compared to 193 BU over the last year giving a growth of 2.88% and it is 99.22% of the target.

NUCLEAR
Nuclear Generation for the month was 2.82 BU compared to 2.75 BU last year giving a growth of 2.84% and it is 112.37% of the target. During the period April, 2013 to
June, 2013, Nuclear Generation was 112.37 BU compared to 8.41 BU over the last year giving a negative growth of 9.00% and it is 97.14% of the target.

HYDRO
Hydro Generation for the month was 12 BU compared to 11.38 BU last year giving a growth of 5.44% and it is 106.65% of the target. During the period April, 2013 to June,
2013, Hydro Generation was 31.28 BU compared to 29.50 BU over the last year giving a growth of 6.04% and it is 101.81 %of the target.

BHUTAN IMPORT
Bhutan Import for the month was 0.33 BU compared to 0.49 BU last year giving a negative growth of 33.44% and it is 61.18% of the target. During the period April, 2013 to
June, 2013, Bhutan Import was 0.49 BU compared to 0.49 BU over the last year giving a growth of 0.43% and it is 91.95% of the target.

PLANT LOAD FACTOR (PLF)
The Plant Load Factor (PLF) for the month in regard to Thermal is 64.63 and for Nuclear Station it is 82.05 and for Gas 22.51 and for the period from April, 2013 to June,
2013 the PLF is 68.75,73.33,29.38 for Thermal, Nuclear and Gas respectively.

The Complete report

A year after grid collapse, power systems remain vulnerable

On July 30 last year, India woke up to its hour of shame, and darkness. An early morning grid collapse led to the worst global power failure, demolishing the myth of India’s superiority in operating power grid systems. A year later, while the government has corrected some of the issues responsible for the mishap, most of the work is yet to be done.

The grid failure last year had plunged 20 states into darkness; it was followed by a bigger grid collapse the following day. The collapse was caused by a combination of factors, including multiple outages that made the system weak, overdrawal by northern states, absence of power islands to insulate essential services and regions from the impact, backfiring of protection systems and the absence of regional inter-connecting links. In a hurried press conference on July 30, then power minister M Veerappa Moily had promised wide-ranging reforms, including tightening of the grid frequency band, ensuring states didn’t overdraw, auditing protection systems to improve grid health and setting up power islands.

An analysis of the key parameters of grid security through the past year shows the northern grid’s daily power frequency remained in the red zone (outside the permissible range of 49.5-50.2 Hertz) for most of the period. And, outages of transmission elements are as prevalent as they were a year ago. According to Northern Region Load Dispatch Centre (NRLDC) data, as many as 45 elements were under forced and planned outages on June 18 this year. On August 18, 2012, 45 elements were out; the number of lines under outage rose to 110 on January 18.

Also, northern states continue to overdraw, though the quantum of overdrawal has declined. Uttar Pradesh overdrew 90 Mw in April and 102 Mw in May, according to Central Electricity Regulatory Commission (CERC) data. Haryana overdrew 81 Mw and 69 Mw in April and May, respectively. Immediately before last year’s grid collapse, Uttar Pradesh was overdrawing 723 Mw, while Haryana drew 557 Mw more than the scheduled power.

Experts say complete grid security isn’t possible without functioning power islands. “Proposals of islanding schemes have been received from Uttar Pradesh, Punjab, Haryana and Jammu & Kashmir. Other states are being followed up,” the power ministry said in an e-mail response to a detailed questionnaire by Business Standard. The scheme works by cutting a region’s connection with the national grid in the event of a fault and subsequently, supporting its demand from generators within the island. No new power islands have come up since July last year.

“The problem is installing systems that are part of an islanding scheme requires investment by distribution companies. Given their ill health, it is a problem,” said a source close to the development. The power ministry said it had submitted a project report for a “country-wide secure grid scheme” at a cost of about Rs 5,500 crore for funding secure grid operations through the Power System Development Fund. The ministry claims it has sensitised states and audited protection systems.

The nerve centre of last year’s grid disturbance was a 400-Kv double-circuit transmission line between Agra and Gwalior, one of the half dozen AC links connecting the northern and western regions. A part of the line was under planned outage; the other half tripped, as demand from northern states shot up due to the failure of the southwest monsoon and surplus in the western region. Outage of this line led to cascade tripping the other links, disrupting the entire AC link and completely separating the northern region from the North-East-West grid.

A senior NRLDC official said the Agra-Gwalior line had been strengthened and upgraded to 765 Kv in May. “Further inter-connection link (765 Kv Satna-Gwalior and Gwalior-Jaipur) is under construction,” the ministry said. This is expected to further strengthen the transmission system connecting the two regions. The ministry also said it had filed a petition with CERC for tightening the frequency band to 49.9-50.1 Hertz. This would deter states from taking fault alarms casually. Also, the unscheduled interchange norms are being reviewed by the regulator.

However, a major problem, that of insulating state utilities from political interference, remains. During a hearing on the grid failure in CERC earlier this month, Avneesh Awasthi, who was the Managing Director of UP Power Transmission Corp when the collapse occurred, told a CERC panel he had to exempt certain areas in the state in July 2012 from emergency rostering (series of scheduled load-shedding to save the grid and manage high demand), owing to the election schedule. The state’s election commission had notified the election schedule of the Municipal Corporation, Nagar Palika and Nagar panchayat from May 25 to July 7.

 

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Railways to set up captive nuclear power plants

With the aim of reducing its power bill, railways is actively considering setting up captive nuclear power plants to meet the rising demand of energy for train operation.

“Talks are going on with Nuclear Power Corporation (NPC) for setting up captive nuclear plants to cater to the growing demand of power for running increased number of trains,” said a senior Railway Ministry official in the electrical department.

There are about 42,00 electrical locomotives operational and out of the total 65,000 km long rail route, 23,541 km has been electrified.

The cash-strapped railways spent Rs 8,000 crore on electricity bill in last fiscal while its diesel bill was around Rs 15,000 crore.

An MoU will be signed with the NPC for setting up plants after the finalisation of talks, said the official.

Asked about the state where the plants could be set up, the official said “it has not been decided yet but it can be considered in states like Haryana, Uttar Pradesh and Tamil Nadu.”

The national transporter is expected to benefit from the captive power plants as the consumption rate is likely to go down from Rs 5.4 a unit of electricity to less than Rs 4.

 

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Madhya Pradesh wipes out power deficit in 3 years, enjoys 24-hour power supply

It took 5,000 young professionals, guidance fromPricewaterhouseCoopers and dogged determination from officials to inject a performance-driven culture in an orthodoxset up, but in barely three years, Madhya Pradesh has wiped out huge electricity shortages and losses in a rare success story in the distribution sector.

After a series of reforms, tariff hikes, involvement of private firms in supplying electricity to some cities and customer-friendly initiatives, Madhya Pradesh now enjoys 24-hour power supply.

Latest data available with the Central Electricity Authority shows that the state does not have power deficit. Distribution losses, which have crippled many state utilities, have fallen from 37% to 27%, narrowing the gap between revenue and cost to 60 paise per unit from 1. The gap is expected to fall to 43 paise this fiscal. Losses in the transmission segment are at 3.5%, which is one of the lowest in the country.

To bring fresh air in the system, the state hired and trained 5,000 young professionals, including 1,500 engineers in the past three years. It also framed new service rules to ensure a performance-driven culture.

Madhya Pradesh principal energy secretary Mohammed Suleman said the government began with identifying the problem areas, including assessing the actual demand for electricity of the state.

States accept the demand projections given by the Central Electricity Authority and Planning Commission. The state’s assessment showed the demand to be far higher than the earlier projections for the state.

The state hired PricewaterhouseCoopers (PwC) for providing all-round consultancy to the government and the generation, distribution and transmission companies. “PwC undertook a six-month long detailed modeling of districts for assessing the demand. We have a fair idea of power demand in relation to GDP till 2020 and we have accordingly planned for the availability,” Suleman said.

PwC executive director (infrastructure) Kameswara Rao said the state needed a strong leadership, a clear action plan and the discipline to implement it. The consultancy firm helped the government in designing, implementing and monitoring the broad-based reform implementation work in various key functional areas like finance, technology and regulatory framework.

Madhya Pradesh invested about 9,700 crore in expanding and upgrading electricity distribution network by piggybacking on the Centre’s flagship schemes. It also laid separate electricity feeder lines to rural houses. These steps helped it to increase the consumer base to 110 lakh in 2013 from 65 lakh in 2004.

The state pushed for electricity generation improvement, leading to a 126% increase in availability of long-term contracted power. At present, about 5,000 MW of new capacity is under development with which Madhya Pradesh will be power surplus by 2018 and its power procurement costs will be among the cheapest.

 

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The Solid Fuels Summit India 2013 on October 7-8, 2013 is approaching

Solid Fuel Summit India 2013 ? Oct 7-8 ? Mumbai

Premier thought-leaders to present at the Solid Fuels Summit India 2013 at Hilton Mumbai International Airport Hotel

Register now!

The Solid Fuels Summit India 2013 on October 7-8, 2013 is approaching and we want to provide you with the latest program so you are able to register for this “must attend” event. The executive oriented Summit will bring a special focus on relevant issues for business, trading and engineering industry professionals to jointly address opportunities and challenges facing stakeholders in the fuel grade petcoke, thermal coal, fly ash and alternative fuels sectors in India and beyond.

The Summit will feature presentations and participation from domestic and international leaders in the sector, including Reliance Industries, UltraTech Cement, Tata Power, CW Group, Salva Report, Essar Oil, Mjunction Services, JK Organization, and Jenissi among many others.

Speakers that will present at the conference include:

Nitin M. Ambhaikar, Vice President, Reliance Industries Ltd.

Onkar Kapoor, Head Power Business, JK Organization

Mayank Garg, Group Head Strategy & Corporate Planning, TATA Power

Dipesh Dipu, Energy & Resources Expert, Partner, Jenissi Management Consultants

Shyamji Agrawal, Assistant Vice President (Central Procurement Cell), UltraTech Cement

Rakesh Dubey, Chief Editor, Coal Insights/Steel Insights; Producer - ICMW/ISMW; Mjunction

Jitendra RoyChoudhury, General Manager – Analytics, Salva Report

Vishal Vikram, Consultant, Imaritime

Laura Goldner, Senior Analyst – Energy, CW Group

This conference will gather industry experts and market participants to discuss the major topics related to solid fuels, including:

  • Assessing India’s solid fuel needs: coal &petcoke
  • Solid fuel opportunities beyond today – trinity of sectors
  • Mining technology & maximizing productivity for coal
  • Reducing costs through better technology
  • Petcoke – a threat to Indian coal?
  • Fuel waste – trash or treasure?
  • The international trade & bulk handling perspective

 

Register now! We look forward to seeing you in Mumbai!

For further inquiries, please contact sales@gmiforum.com.

We look forward to seeing you in Mumbai!

 

 

Wind Sector venture capital funding at $210 m in Q2 2013

Venture capital funding for wind power picked up significantly during second quarter of 2013 amounting to $210 million with the help of some large deals going to project developers in India compared to just $16 million last quarter. ReNew Power, an Indian wind project developer attracted $135 million from Goldman Sachs, which raised its total investment in the company to $385 million so far. NSL Renewable Power, also a project developer from India, received $60 million in funding from multiple investors. In two smaller funding deals, IDEOL, a designer and installer of foundations for offshore wind projects, raised $9.1 million, and $6.2 million was received by ROMO Wind, a wind technology company focused on improving wind turbine rotor function. Announced large-scale project funding in Q2 2013 totaled $3.2 billion in 24 deals compared to $6.2 billion in 29 deals in Q1 2013. There were a total of 42 investors that participated in project funding deals this quarter.

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