Power

/Tag: Power

The changing face of Indian real estate

2018-08-20T11:33:10+00:00November 29th, 2017|2018/2017, India Investment Journal November Edition, Other Highlights, Year|

India Inc. property expert analyses the pattern shifts in the Indian real estate sector due to changing laws and market trends. If one were to think that the pain in the Indian real estate industry is a matter that started in 2016 due to demonetisation and was made worse in 2017 due to the implementation of the Goods and Services Tax (GST) and Real Estate Regulation Act, one would like to consider the fundamental changes in the IT, telecom and [...]

Colonial Cousins

2018-08-01T12:50:37+00:00October 27th, 2017|2017/2018, COUNTRY FOCUS/Australia, October 2017, Year|

India and Australia have great historical and cultural linkages but that is yet to translate into bilateral trade and investment. It is an anecdote that Matt Staff, a former senior executive at mining behemoth Rio Tinto’s operations at Pilbara region of Western Australia and now a part time tour guide in Perth is only too happy to narrate to his occasional Indian guests. Staff’s familiarity with the region and his inherent cheerful disposition would mean he would often be called [...]

Growth markets in Indian sight

2018-08-01T13:12:17+00:00August 18th, 2017|2017/2018, August 2017, Middle East, Year|

From textiles to solar energy, Indian firms continue their impact on emerging markets. Raymond sets up in Ethiopia Silver Spark Apparel Ethiopia, a wholly owned subsidiary of Indian textile group Raymond, has started the first phase of production at its greenfield garment facility in Ethiopia. Set up at Hawassa Industrial Park with an investment of around $30 million (Rs 140 crore), the plant can produce 600 suits per day for different brands and will employ 2,500 people. The production will [...]

Energy, opportunity, leadership: Why it’s India’s time to shine

2018-05-30T12:48:29+00:00August 16th, 2017|2017/2018, August 2017, Guest Columns, Year|

A UN climate expert believes India is on the cusp of becoming a global leader in the field of sustainability. There are three things that, for me at least, best characterise modern India. And it is because of these qualities that I’m so convinced that the country is on the cusp of becoming a global leader in climate action and sustainability. Firstly, from independence to today, India has always steered a unique course –confident in its own path. It’s also [...]

India’s mega renewables challenge

2018-05-18T13:03:26+00:00July 21st, 2017|2018/2017, India Investment Journal July Edition, Sector Focus/Renewables, Year|

The Indian government’s resolve is to generate 175 GW of electricity from renewable energy by 2022 and increase the share of renewables in India’s energy mix to 40 per cent by 2030. Of the 175 GW, 100 GW will come from solar, 60 GW from wind, 10 GW from biomass and 5 GW from small hydrop projects. Here is a broad snapshot of the challenge.

Indian mission lights up in energy efficient colours

2018-05-18T13:03:27+00:00July 17th, 2017|2018/2017, Flagship Scheme, India Investment Journal July Edition, Year|

The Indian High Commission in London has been lit up in energy efficient tricolour as part of a pact with India’s Energy Efficiency Services Limited (EESL).

The High Commission, situated in the iconic ‘India House’ building in central London, is the largest Indian diplomatic mission and recently became the first to sign up to an energy efficiency contract with EESL.

Solving India’s electricity deficit

2018-09-04T12:54:02+00:00May 25th, 2017|2018/2017, From the Top, India Investment Journal May Edition, Year|

The easy availability of electricity is a critical enabler of socio-economic growth in India, writes India Inc. CEO Manoj Ladwa.

The basic building block for sustained economic growth is now in place. From a chronically electricity-deficit country, India has, in a space of three short years, turned the power sector around – so much so, that not only does the country now have surplus power, it is also exporting electricity to neighbouring countries such as Bangladesh, Nepal and Myanmar.

When Prime Minister Narendra Modi appointed Piyush Goyal as Minister of State for Power, Coal, Mines & Renewable Energy (Independent Charge) in 2014, India was reeling under a massive deficit of 87 billion Kwhs or 9 per cent of demand. Result: the economy was suffering long, daily power cuts and the use of diesel generators for back-up that sapped productivity and ate into corporate profitability.

There was little light visible at the end of the tunnel as India’s state-owned power distribution companies, or discoms as they are called, were also bleeding. With cumulative debts of more than $50 billion, they were having to borrow money just to keep their operations running, thus, pushing them further into debt.

This turnaround has made it possible for the Indian government to announce that it would be in a position to fulfil its election promise of providing power for all by next year – a full year ahead of schedule.

This is an incredible achievement. The easy availability of electricity is a critical enabler of socio-economic growth. Being the basic building block of prosperity, power is also the key enabler of several flagship schemes announced by the Prime Minister. There can be no Make in India, Digital India, Start-up India, Skill India or even Swacch Bharat without the provision of adequate electricity.

Prime Minister Narendra Modi’s dream of an educated and empowered nation would also have come to nothing without adequate electricity. Power, as we all know, is sine qua non for children to study, do their homework and prepare for examinations.

The rejuvenation of the power sector will have an impact far beyond the remit of the ministry itself as will help change the lives of millions that currently live, or till recently lived, in darkness.

Power, arguably, is the most critical component of the Prime Minister’s promise of providing jobs for the 10-12 million youth who join the Indian workforce every year. Key to accomplishing this goal is the aim of increasing the share of manufacturing from 18 per cent of GDP at present to 25 per cent of GDP by 2025.

Among several constraints that are holding up the growth of the manufacturing sector was the lack of adequate power to run the machines in thousands of small and medium enterprises that form the backbone of any economy and are the main incubator of the millions of low skilled jobs that really bring prosperity to people at the bottom of the pyramid. I have purposely left out large and heavy industries because they can afford to set up captive power plants or make provisions for back-up power from diesel generators.

But Minister Goyal himself will admit that his job is only half done. Almost a quarter billion Indians still do not have access to electricity in their homes. Turning this situation around and providing power to fuel the expected manufacturing boom in the coming years will consume the current surplus and call for additional sources of electricity.

This is where the Prime Minister’s ambitious target of achieving 175 GW of renewable energy capacity by 2022 will come into play. Achieving this target will not only to enable India to meet its emission goals under the Paris climate accord but also to meet the additional demand that improving economic growth and rising numbers of power consumers will generate.

There will be challenges, for sure. Financing large projects in India remains an issue as the banking sector, which is in the throes of a bad loan crisis, is unable to provide large volumes of credit. Then, the issue of balancing the infirm power that wind and solar plants generate – the potential this has to destabilise the grid – has not yet been resolved.

But neither of these problems is insurmountable and there is every reason to be optimistic that solutions will be found.

This edition of ‘India Investment Journal’ tracks Minister Goyal’s mega power challenge as he travels around the world to scout for investments, besides the usual cross-sector coverage.

Manoj Ladwa is the founder of India Inc. and chief executive of MLS Chase Group @manojladwa

India’s global quest for energy security

2018-09-05T07:18:43+00:00December 9th, 2016|2016, Sector Focus, Year, Yearend 2016|

As India looks set to increase its GDP fivefold, to about $10 trillion, by 2040, it is axiomatic that the country’s energy demand will rise in tandem.

India recently took a small first step towards ensuring its energy security by commissioning three underground storage units of the Strategic Petroleum Reserve Project with a combined capacity of 5.33 million metric tonnes of crude.

India’s solar power sector to shine brighter

2018-05-18T13:04:40+00:00November 18th, 2016|2016, Flagship Schemes, India Investment Journal November Edition, Year|

As the world, especially emerging economies, grapple with the challenges posed by climate change, it is essential to come up with innovative solutions to address energy shortages that can significantly benefit people with no or limited access to energy. An International Finance Corporation (IFC) expert analysis where India fits in.

Why foreign investors are bullish on Solar India

2018-08-20T07:06:43+00:00July 8th, 2016|2016, India Investment Journal June/July Edition, Solar India, Year|

India has laid down a very aggressive road map for solar power in the country, with an overall target being 100GW by 2022 – nearly five times from current levels. Co-founder of Rays Power, a pioneer in the field of solar power generation in the country, gives his view on achieving this goal.