India's cumulative grid interactive or grid tied renewable energy capacity (excluding large hydro) has reached 29.9 GW‚ of which 68.9% comes from wind‚ while Solar PV contributed nearly 4.59% of the renewable energy installed capacity in India.
However‚ most of the renewables projects were financially challenging. With the changed dynamics – increased innovation in renewables‚ falling PV prices‚ etc. – renewables are again becoming a serious contender for energy requirements.
During his recent visit to India‚ President Obama and Prime Minister agreed, that India and the United states will work together to support India’s ambitious climate and energey goals by focusing on air quality and increasing the share of renewables in the energy basket.
With these developments‚ there is likely to be a major thrust in the renewables sector in India.
Join us at the Aurum CXO Dialogues webinar to discuss why ‘renewables are back in vogue in India’.
4th Annual Conference on Solar Power in India : The New Shining OpportunityInfraline Energy
This is the first time that bids have been called for projects to be set up in solar parks being developed under the new Solar Parks Policy. Solar parks are providing specialized services to attract investment from private developers. The forthcoming conference on "4th Annual Conference on Solar Power in India: The New Shining Opportunity" to be held on 3rd December 2015 at Hotel Claridges New Delhi which aims to focus on the present scenario with supporting policies and the investment opportunities in Indian Solar Sector. For delegate registration and sponsorship opportunities, kindly drop us a mail on ruchika.thapa@infraline.com; richa.asnani@infraline.com or call us at +91-20-6799128/6799132. Also, you can click on the following link for further details http://www.infraline.com/Events_details.aspx?id=326&tlt=4th-Annual-Conference-on-Solar-Power-in-India-The-New-Shining-Opportunity%22.htm
Wind energy in Tamil Nadu - Business Feasibility Report - PreviewProtekan
The "Wind Energy in Tamil Nadu - Business Feasibility Report" was developed by Protekan, a renewable energy consulting and advisory firm. The report provides in depth analysis of the wind energy market in Tamil Nadu. The primary objective of this report is to serve as a useful guide for companies and investors interested in venturing into the fast evolving wind energy IPP business in Tamil Nadu. This report was last updated in September 2012.
India's National Solar Mission - Phase 1 GuidelinesHeadway Solar
India launched the National Solar Mission (NSM) in 2009, aiming 20GW grid-connected solar capacity by 2022. This document was released by the Ministry of New & Renewable Energy, India, and contains the guidelines for project allotment under Phase 1 of the NSM, through public-private partnership.
This document is not a work of Headway Solar (http://headwaysolar.com/) and it has been released here for the benefit of the general public.
private equity venture capital india food processing IT and ITES Banking and Finance Renewable Energy Pharmaceuticals foreign investment in India Lakshmikumaran & Sridharan
4th Annual Conference on Solar Power in India : The New Shining OpportunityInfraline Energy
This is the first time that bids have been called for projects to be set up in solar parks being developed under the new Solar Parks Policy. Solar parks are providing specialized services to attract investment from private developers. The forthcoming conference on "4th Annual Conference on Solar Power in India: The New Shining Opportunity" to be held on 3rd December 2015 at Hotel Claridges New Delhi which aims to focus on the present scenario with supporting policies and the investment opportunities in Indian Solar Sector. For delegate registration and sponsorship opportunities, kindly drop us a mail on ruchika.thapa@infraline.com; richa.asnani@infraline.com or call us at +91-20-6799128/6799132. Also, you can click on the following link for further details http://www.infraline.com/Events_details.aspx?id=326&tlt=4th-Annual-Conference-on-Solar-Power-in-India-The-New-Shining-Opportunity%22.htm
Wind energy in Tamil Nadu - Business Feasibility Report - PreviewProtekan
The "Wind Energy in Tamil Nadu - Business Feasibility Report" was developed by Protekan, a renewable energy consulting and advisory firm. The report provides in depth analysis of the wind energy market in Tamil Nadu. The primary objective of this report is to serve as a useful guide for companies and investors interested in venturing into the fast evolving wind energy IPP business in Tamil Nadu. This report was last updated in September 2012.
India's National Solar Mission - Phase 1 GuidelinesHeadway Solar
India launched the National Solar Mission (NSM) in 2009, aiming 20GW grid-connected solar capacity by 2022. This document was released by the Ministry of New & Renewable Energy, India, and contains the guidelines for project allotment under Phase 1 of the NSM, through public-private partnership.
This document is not a work of Headway Solar (http://headwaysolar.com/) and it has been released here for the benefit of the general public.
private equity venture capital india food processing IT and ITES Banking and Finance Renewable Energy Pharmaceuticals foreign investment in India Lakshmikumaran & Sridharan
We are a group of young, dynamic & aggressive professionals whose main motto is to augment the power production through solar energy.
The techno-commercial background of the key persons helps in giving solutions that involve the use of state of the art technology with a financially viable proposition.
We also have a very nimble and energetic team of people who are always there to assist you and give you the requisite support in implementing the best possible solution for your requirements.
Vibrant Gujarat - Renewable Energy Sector ProfileVibrant Gujarat
• Promoting open and competitive markets for renewable/sustainable energy power projects.
• Supporting companies and other private sector where there is a gap through a single window clearance.
• Helping to generate productive jobs and deliver essential services to the Renewable Energy sector.
• Catalyzing and mobilizing the promotion and popularization of sustainable energy technologies through various outreaches programmed and projects."
3rd Annual Conference on Solar Power in India : Technologies, Challenges & Op...Infraline Energy
InfrlineEnergy is organizing the 3rd Annual Conference on Solar Power in India: Technology, Opportunities & Challenges scheduled on September 26, 2014 at Hotel Crowne Plaza, New Delhi.The focus of the conference would be on the technology aspects, opportunities and Challenges of the industry with the aim to bring all the stakeholders, think tanks, government officials, service providers, regulatory bodies and all the solar organizations on a common platform to brainstorm and delve deeper to institute the most effective way out to accelerate the investments in Solar Power in India.
This is the presentation from the Aurum Webinar held on 21st December on the Indian Defence Offset Program - Challenges and Opportunities. Speakers include Amit Cowshish from Dua Associates, and V Sunder and Vikram Bihani from Aurum Equity Partners LLP.
This is the Statement of Credentials put forward by Aurum Equity Partners LLP. This document was last updated on February 2017. For inquiries, visit http://www.aurumequity.com
We are a group of young, dynamic & aggressive professionals whose main motto is to augment the power production through solar energy.
The techno-commercial background of the key persons helps in giving solutions that involve the use of state of the art technology with a financially viable proposition.
We also have a very nimble and energetic team of people who are always there to assist you and give you the requisite support in implementing the best possible solution for your requirements.
Vibrant Gujarat - Renewable Energy Sector ProfileVibrant Gujarat
• Promoting open and competitive markets for renewable/sustainable energy power projects.
• Supporting companies and other private sector where there is a gap through a single window clearance.
• Helping to generate productive jobs and deliver essential services to the Renewable Energy sector.
• Catalyzing and mobilizing the promotion and popularization of sustainable energy technologies through various outreaches programmed and projects."
3rd Annual Conference on Solar Power in India : Technologies, Challenges & Op...Infraline Energy
InfrlineEnergy is organizing the 3rd Annual Conference on Solar Power in India: Technology, Opportunities & Challenges scheduled on September 26, 2014 at Hotel Crowne Plaza, New Delhi.The focus of the conference would be on the technology aspects, opportunities and Challenges of the industry with the aim to bring all the stakeholders, think tanks, government officials, service providers, regulatory bodies and all the solar organizations on a common platform to brainstorm and delve deeper to institute the most effective way out to accelerate the investments in Solar Power in India.
This is the presentation from the Aurum Webinar held on 21st December on the Indian Defence Offset Program - Challenges and Opportunities. Speakers include Amit Cowshish from Dua Associates, and V Sunder and Vikram Bihani from Aurum Equity Partners LLP.
This is the Statement of Credentials put forward by Aurum Equity Partners LLP. This document was last updated on February 2017. For inquiries, visit http://www.aurumequity.com
View our June webinar titled "Will Medical Devices be the next growth catalyst in Indian Healthcare?" with speakers - Gautam Dhawan (Partner, Aurum Equity Partners LLP) and Probir Das (Managing Director, Terumo India Pvt. Ltd.).
India's cumulative grid interactive or grid tied renewable energy capacity (excluding large hydro) has reached 29.9 GW‚ of which 68.9% comes from wind‚ while Solar PV contributed nearly 4.59% of the renewable energy installed capacity in India.
However‚ most of the renewables projects were financially challenging. With the changed dynamics – increased innovation in renewables‚ falling PV prices‚ etc. – renewables are again becoming a serious contender for energy requirements.
During his recent visit to India‚ President Obama and Prime Minister agreed, that India and the United states will work together to support India’s ambitious climate and energey goals by focusing on air quality and increasing the share of renewables in the energy basket.
With these developments‚ there is likely to be a major thrust in the renewables sector in India.
Join us at the Aurum CXO Dialogues webinar to discuss why ‘renewables are back in vogue in India’.
Will REITS be a game-changer for the Indian real-estate industry as it is exp...Aurum Equity Partners LLP
REITS have been the key source of capital for real estate in most developed markets, and increasingly so in the last decade. In India, raising capital has been challenging for real estate companies. SEBI has recently promulgated the REIT Regulations and some changes in tax legislation and some more (hopefully in the ensuing fiscal budget), have been carried out.
However, for an industry to change to a new regime, also requires the industry participants to learn the rules of the new game.
What can the industry learn from other sectors? Join the Aurum CXO Dialogues webinar where industry veterans from Aurum Equity, Black Olive Ventures and Dua Associates share their insights and perspectives on how the industry can leverage the opportunities created by REITS.
Social Media has become an integral and powerful tool for online retailers to engage customers. Use of social media properties and tools to interact with‚ incentivize and influence transactions has evolved from one of the activities brands did to a science that deserves focus and attention. Larger brands are carving out specialists teams to improve sales using social media.
Given the cost of customer acquisition, retention becomes a key target for online retailers. Social Media and Social Commerce play a very important role‚ as they help brands build communities which in turn helps them stay connected with their consumers.
At the Aurum CXO Dialogues listen from experts on how your brand can leverage Social Commerce‚ and what insights we can take from some of the early adopters of Social Commerce.
An investment banking firm, with a depth of diverse-sector experience. Established by a team of experienced professionals with backgrounds in investment banking, private equity and general management.
Cumulative experience of more than 125 transactions worth USD 2 billion of transaction value in India.
Focus on M&A, Divestures, Fund Raising and Restructuring
With more than 200 million users‚ India has the third largest number of internet users in the world after China and USA. And yet‚ online retail stands at 8% of organized retail and only 0.5% of overall retail market in India. The e–tailing market is thus poised to grow at a massive 55% p.a. from INR 139 billion in FY13 to INR 504 billion in FY16. A major reason for this rapid growth has been consumer access to products at attractive prices. The e–commerce business model has facilitated cutting out expensive real estate by reaching the consumer directly and thereby being able to offer better prices to consumers.
Growing investor interest in the Indian CRAMS / CDMO industry - Aurum and Dea...Aurum Equity Partners LLP
The fast growing Indian Contract Development and Manufacturing Operations (CDMO or CRAMS as popularly known in India) industry is attracting Investor interest.
The 70 bn USD global CDMO industry is growing at 10%pa‚ driven by increasing generic utilisation‚ and need to enhance R&D productivity and reduce costs. Many Pharmaceutical companies have stated their desire to enhance outsourcing levels as they build drug pipelines and rationalise existing manufacturing/R&D assets.
Aurum DealCurry CXO Dialogues
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
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NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...
Are renewables back in vogue?
1. Are Renewables back in vogue?
Aurum-DealCurry CXO Dialogues
__________________________________________________________
Webinar on the 7th of May 2015: 3pm – 4pm
2. Aurum Equity Partners LLP
An investment banking firm, with a depth of diverse-sector experience.
3. 3
Sanjay has over 20 years of experience ,with a deep and on the ground understanding and
exposure of handling more than a 100 mid and large sized transactions, across a range of sectors.
Work Experience:
• Ambit Corporate Finance , Co Founder and Managing Director
• Arthur Andersen Global Corporate Finance
• KPMG Corporate Finance
• AF Ferguson and Co.
Qualifications and Memberships
• Chartered Accountant (The Institute of Chartered Accountants of India)
• Advance Management Program (Kellogg Business School)
• Bachelor of Commerce (Honors) - Shri Ram College of Commerce at University of Delhi
• Member of RICS (A global real estate body)
• Investor member - Indian Angel Network
Sanjay Bansal
Founder and Managing Partner - Aurum Equity Partners
Speaker Profiles
4. 4
Sanjay has over 25 years of experience in the energy & electricity sectors of India & Nepal, spread
over multiple engagements for project development, investments & public private participation,
consulting, reforms & restructuring, power market development and other associated segments.
Work Experience:
• Partner, Aurum Equity Partners
• Head Power, Cairn India
• Sr. Vice President, IL&FS
• Head (BD), Crisil Infrastructure Advisory
Qualifications and Memberships
• MBA, Indian Institute of Technology, New Delhi
• PG Diploma, Indian Institute of Foreign Trade, New Delhi
• B.Tech., Indian School of Mines, Dhanbad
• Member, All India Management Association
Sanjay Kumar
Co-founder and CEO – Karaat Infra
Speaker Profiles
5. • This note is presented solely for the internal use of the recipient to whom it is marked by
Aurum and does not carry any right of publication or disclosure to any other party. This note is
incomplete without reference to, and should be viewed solely in conjunction with, the verbal
briefing provided by Aurum.
• In preparing this note Aurum has relied upon and assumed, without independent verification,
the accuracy and completeness of all information available from published and public sources
and the company. Accordingly, neither Aurum nor any of its affiliates, shareholders, directors,
employees, agents or advisors make any representation as to the accuracy, completeness,
reasonableness or sufficiency of any of the information contained in the note, and neither of
them shall be liable for any loss or damage (direct or indirect) suffered as a result of reliance
upon any statements contained in, or any omission from this note and any such liability is
expressly disclaimed.
• Aurum has developed this note on its own behalf and without prejudice. This note should not
be construed as an offer to sell any securities in or assets of any of the companies referred to in
this document, or an invitation to offer.
Disclaimer
5
6. Source: CEA
Indian Power Market
6
State
37%
Private
36%
Central
27%
Coal
60%
Gas
9%
Diesel
1%
Nuclear
2%
Hydro
16%
Renewables
12%
Installed Capacity by Ownership (Jan 15) Installed Capacity by Fuel (Jan 15)
855 877 912 967 1,048
-
200
400
600
800
1,000
1,200
FY11 FY12 FY13 FY14 FY15E
India: Electricity Generation (TWh)
India is the 3rd largest producer of electricity in the
world behind only US and China.
The country has been augmenting its generation
capacity at a CAGR of 10% (FY10 to FY15)
India’s per capita power sector consumption, around
940 kilo watt-hour (KWh), is among the lowest in the
world. (China 4,000 kWh, developed countries average
~15,000 kWh)
Since 2003, the Government of India (GoI) has allowed
the private industry to generate power
Indian Power Sector by Volume (TWh)
Total: 259 GW Total: 259 GW
7. Source: Ministry of Coal, CEA, US EIA, Hindustan Times, The Hindu, Business Standard, IDFC
The need for renewables in India
7
Prevailing Demand Supply Gap Rising coal imports
Need to curb emissions Falling Thermal PLFs
73 69
103
143
169
200
-
50
100
150
200
250
FY10 FY11 FY12 FY13 FY14 FY15E
India’s coal import bill stood at INR 888 billion in FY1425% of India’s population does not have access to electricity
78%
75% 73%
70%
66%
55%
60%
65%
70%
75%
80%
FY10 FY11 FY12 FY13 FY14
India’s CO2 emissions from the Consumption of Energy
1,449
1,643
1,715 1,753
1,831
500
1,000
1,500
2,000
2008 2009 2010 2011 2012
Million Metric Tons
India is the world’s 3rd largest CO2 emitter PLF for gas based power plants was only 25% for FY14
13%
10% 11%
9%
6%
4%
0%
5%
10%
15%
FY10 FY11 FY12 FY13 FY14 Jul-14
Peak Deficit (%)
8. Source: GWEC, Pure Energies, REN 21
Renewable Power – Global Perspective
8
In 2014, a record number of wind and solar power capacity was installed (95GW)
Global Renewable Power Capacity (GW, Dec 2013)
139
3
318
88
12
0
50
100
150
200
250
300
350
Solar PV Solar CSP Wind Bio-Power Geothermal
Total: 560 GW*
*Does not include heating applications
Leading Countries – Installed Capacity (2014)
Rank Wind (GW) Solar PV (GW)
1 China (114) Germany (35)
2 US (66) China (18)
3 Germany (39) Italy (18)
4 Spain (23) Japan (14)
5 India (22) US (12)
Global Electricity Production (2013)
78%
16%
3%
2%
1% 0%
Fossil Fuels
Hydro Power
Wind
Bio-power
Solar PV
Others
Unsubsidized Levelized Cost of Energy (LCOE, $/MWh)
180
72 37
297
92
66 61
265
86 81
332
132
151
87
0
100
200
300
400
Solar PV
Rooftop
Solar PV
Utility
Scale
Wind Diesel
Generator
Nuclear Coal Gas
Combined
Cycle
US market estimates (Lazard, 2014)
9. Source: UNEP
Global Renewable Energy Investment
9
150
99
8
5
5
3
- 50 100 150 200
Solar
Wind
Biomass
Biofuels
Small Hydro
Geothermal
Global New Investment by Sub-segment 2014
45
73
112
154
182 178
237
279
256
232
270
-
50
100
150
200
250
300
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Global Investments in Renewables
USD bn USD bn
162
190
149 135 139
75 89
107 97
131
-
100
200
2010 2011 2012 2013 2014
Developed Developing
Developed vs Developing Countries 2014
USD bn
China: USD 83 bn
Brazil: USD 7 bn
India: USD 7-8 bn
2014 saw a rebound in investments in renewables Solar and Wind energy captured the bulk of new investment
Developing countries, led by China, have upped investments
PE/VC investment by Sub-segment 2014
Solar
58%
Biofuels
22%
Wind
11%
Biomass
7%
Others
2% Total: USD 2.8 bn
VC/ PE investments in renewables grew by 27% compared to 2013
10. Source: Tata Power, NISE, Edelweiss, MNRE, National Institute of Solar Energy in India
India’s renewable energy potential
10
Average Solar Irradiation (KWh per sq.m.) Wind Energy Potential (GW)
35
14 14 14
25
-
5
10
15
20
25
30
35
40
Gujarat Andhra
Pradesh
Tamil Nadu Karnataka Others
India’s solar power potential is estimated to be over 1,000
GW depending on availability of waste land resources
1,000 GW of solar power capacity can be installed in
India on 16,000 sq.km.
This would require 0.5% of India’s total landmass (3.5%
of total available wasteland)
1,000 GW of solar power could generate ca. 1,500
TWh, 1.5 times India’s current annual power demand
India’s wind power potential is estimated to be over
100 GW at 80 m hub height (MNRE)
Wind potential has been estimated by MNRE at
sites having wind power density greater than 200
W/sq. m at 80 m hub-height with 2% land
availability @ 9 MW/sq. km.
U.S.-based Lawrence Berkeley National Laboratory
in a 2012 study, estimated India’s wind power
potential to be much higher (over 2,000 GW)
5.1
4.8 4.7
4.2
3.8
3.6 3.6
2.9
-
1.0
2.0
3.0
4.0
5.0
6.0
India Spain USA Australia Italy Japan China Germany
All India: 103 GW (at 80 m hub height)
11. Source: CEA, Bloomberg, Credit Suisse, Edelweiss
India – Renewables Overview
11
9.3
13.1
7.8
7.0
7.9
10.0
-
2.0
4.0
6.0
8.0
10.0
12.0
14.0
2010 2011 2012 2013 2014 2015E
Clean Energy Investment in India (USD bn)India Renewables Capacity (Non Hydro)
Wind,
21,136 , 76%
Biomass
Power,
4,014 ,
14%
Waste to
Energy, 107
, 0%
Solar, 2,632
, 10%
Total: 27,888 MW (Jan 2015)
Wind and Solar Capacity Addition
3,197
1,700
2,079
1,513
906 742
963
736
-
1,000
2,000
3,000
4,000
FY12 FY13 FY14 11MFY15
Wind (MW) Solar (MW)
Wind/solar capacity additions averaged 3GW p.a. since FY12
Cost of Electricity by Fuel Type
Fuel Source
Capex
(INR mn/ MW)
Cost of Generation
(INR/ KWh)
Solar PV 69 9.4
Solar Thermal 120 14.7
Wind 60 6.2
Biomass 60 -80 4.5
Small Hydro 55-60 7.8
Coal 60-65 3.9
Gas 45-50 3.5
Renewable investments to witness a strong rebound in 2015India’s renewable mix is heavily biased towards wind power
New Technology is helping reduce Capex/MW for renewables
12. Source: NITI Aayog, Edelweiss
Key Support Mechanisms
12
AD refers to a tax-based incentive mechanism in which RE projects can take larger than normal
depreciation benefits on their tax returns in the initial years of investment
Accelerated Depreciation
(AD)
GBI provides wind electricity producers an incentive of Rs 0.5 per kWh fed into the grid for a period
of not less than four years and a maximum period of ten years with a cap of Rs 100 Lakhs per MW
Generation Based
Incentives (GBI)
Under the VGF mechanism, the tariff to be paid to the solar PV developer is fixed at Rs 5.45 per
kWh. The developer will be provided a VGF based on its bid. The upper limit for VGF is 30 percent of
the project cost or Rs 2.5 crores/MW, whichever is lower.
Viability Gap Funding (VGF)
An RPO is a requirement for an electricity purchaser (e.g., a Discom or an open access [OA]
consumer) to procure a certain percentage of electricity from renewable sources.. Currently, RPO
levels are set by each State Electricity Regulatory Commission (SERC) independently
Renewable Purchase
Obligation (RPO)
REC is a tradable certificate of proof that 1MWh of electricity has been injected into the grid
The REC program aims to provide market based incentives for RE developers and distribute the
marginal cost of RE deployment nationwide.
Renewable Energy
Certificates (REC)
Feed-in tariffs (FITs) are preferential tariffs for procuring RE by Discoms that are established by a
SERC through its usual regulatory process.
Feed-in Tariffs (FIT)
13. 13
Recent Policy Action
Revised Targets: The government has announced new targets for installed renewable energy
capacity of 175 GW by 2022. 100 GW of this would come from solar power, 60 GW from wind
energy, 10 GW from small hydro power, and 5 GW from biomass-based power projects.
Green Corridors: The Government is also working on setting up ‘green corridors’, which will ensure
evacuation of power from key centers of generation.
Budget 2015: USD 400 million allotted for renewable energy expansion
The government has doubled the tax on every metric ton of coal imported or produced in the
country. The revenue collected from this tax goes to the National Clean Energy Fund (NCEF)
Amendments proposed to Electricity Act including open access reforms and enhancement of
Renewable Purchase Obligations
14. 14
Investment Announcements
NTPC has agreed to set up 10,000 MW of renewable energy in the next five years.
Reliance Power has also announced plans to set up a 6,000 MW solar park in Rajasthan over the next 10 years.
Hinduja Group announced plans to generate 1,000 MW of power through solar projects
SunEdison and Adani Group announced plans to invest up to USD 4 billion in an Indian solar power factory joint
venture
Japanese Softbank is evaluating plans to develop as much as 10 GW of solar in India
State Bank of India (SBI) has committed to lend INR 75,000 crore towards 15,000 MW of projects
ReNew Power Ventures plans to set up 11,500MW of renewable energy in the next five years
Suzlon and Gamesa have committed to manufacture equipment to help generate 11,000 mw and 7,500 mw of power
respectively
At a renewable energy event, 'RE-Invest 2015‘ (February 2015), the government claimed it has
received 266,000 MW worth of green energy commitments from banks and other private firms
15. 15
Financing Renewable Energy
Source: MNRE, USAID
EquityDebt
Domestic
Debt
Government Banks
Private Banks
Government supported NBFCs
Private NBFCs
Foreign
Debt
External Commercial Borrowing
International Development Banks
EXIM Banks
Other
Debt
Supplier Credit
Bridge Finance
Takeout Finance
Infrastructure Debt Funds
Lease Financing
Promoter’s
Equity
Corporate Entities
Independent Power
Producers
Private
Equity
Global/ Indian PE Funds
Venture Capital Funds
Infrastructure Funds
Multilateral
Agencies
International Finance
Corporation
Asian Development Bank
Other
Equity
Investors
Sovereign Wealth Funds
Pension Funds
16. 16
Policy and Infrastructure Challenges
Pricing of FITs: If the FiT is too high, it leads to unwarranted profits for developers, while if set too low, the FiT
can lead to very low financial returns leading to low investments in the sector.
RPO Mechanism Constraints: Poor enforcement of RPO obligations, uneven cash-flows for generators, irrational
floor prices for solar RECs, lack of price certainty post 2017.
Accelerated Depreciation Constraints: AD can only be utilized by profit-making entities with appreciable tax
liabilities and cannot be transferred, it effectively excludes most IPPs and investors who plan on using a SPV
route for project development
Inadequate Infrastructure: Inadequate transmission infrastructure and associated inefficiencies and losses
Key Challenges for Renewables in India
Market Based Challenges
Off-take uncertainty: The creditworthiness of the off-takers (e.g. state distribution companies) has led to
uncertainty regarding cash flows and pushed away investors.
Limited financing options: Banks and financial institutions are more cautious lending to RE projects. Participation
of equity investors has been muted.
Lack of exit options for investors: Private equity investments in the Indian RE space are more than five years old
as investors have not been able to find exits.
17. 17
Uncertain cash
flow for RE
developers
Slowdown in
investment into
RE projects
Renewables do
not replace
coal
Rising, volatile
Coal costs
High burden of
energy subsidy
(e.g. agriculture)
Poor financial
health of
DISCOMs
Failure to
honor RPOs
Vicious Circle for Renewables in India
Finance Cost burden on RE Projects
100%
75% 75%
98%
126%
-25% +23%
+28%
0%
20%
40%
60%
80%
100%
120%
140%
US LCOE India
Lower
Capex
Costs
India
Lower
Ouput
Efficiency
India -
Higher
Finance
Costs
India
LCOE
100%
71%
66% 66%
88%
-29%
-5%
+22%
0%
20%
40%
60%
80%
100%
120%
US LCOE India
Lower
Capex
Costs
India
Lower
Ouput
Efficiency
India -
Higher
Finance
Costs
India
LCOE
Solar PV
Onshore Wind
Source: Edelweiss, CPI ISB Report
18. 18
Recent M&A Activity
Date Sub Sector Acquirer Target Value (USD mn)
Apr 15 Solar Power
Generation
Surana Telecom and
Power
Arhyama Energy NA
Feb 15 Wind Power Dilip Sanghvi
(Sun Pharma)
Suzlon Energy 293
Feb 15 Renewable
Energy
Semborp Utilities Green Infra 171
Sep 14
Wind Power
Generation
Ghatge Patil Group
Bharati Shipyard - wind
power business
9
Jun 14
Solar Power
Generation
Concept Solutions &
Innovation (Cyprus)
CaptureSolar Energy 125
Jun 14
Solar Power
Generation
ADB
Welspun Renewables
Energy
52
Apr 14
Wind Power
Generation
Suzlon Energy
Edison Mission - Big Sky
Farm
NA
Apr 14
Solar Power
Generation
GE Energy
Welspun Solar Madhya
Pradesh
24
Source: Databoard
19. 19
Recent PE/VC Activity (1/2)
Date Sub Sector Investor Target Value (USD mn)
Feb 15
Solar Power
Generation
Blackstone, Gujarat
Venture Finance Ltd
Rays Power Experts
Private Limited
65
Feb 15 Solar – Offgrid Fidelity Growth Greenlight Planet 10
Dec 14
Biomass/ Waste
Generation
Intellecap Impact
Investment Network (I3N)
and existing investors
Banyan Green Fuels
Private Limited
0.2
Nov 14 Cleantech Villgro Innovations
Sustainearth Energy
Solutions Private Limited
NA
Oct 14
Renewable Power
Generation
EIG Global Energy
Partners
Greenko Energies
Private Limited
125
Oct 14
Solar Power
Generation
Core Infrastructure India
Fund Pte Ltd.
(CIIF),GEEREF
SolarArise India Projects
Pvt. Ltd
33
Aug 14
Solar Power
Generation
Opes Impact Fund
Rainta Capital
Sumantra Roy
Boond Engineering and
Development Private
Limited
NA
Source: Databoard
20. 20
Recent PE/VC Activity (2/2)
Source: Databoard
Date Sub Sector Investor Target Value (USD mn)
Jul 14
Wind Power
Generation
GE Energy Financial
Services
Atria Power Corporation
Limited
15
Jul 14
Solar Power
Generation
Chennai Angels
Fourth Partner Energy
Private Limited
NA
Jul 14
Wind Power
Generation
Goldman Sachs, ADB and
South Asia Clean Energy
Fund
ReNew Power Ventures
Private Limited
140
Jun 14
Solar irrigation
solutions
Intellecap Impact
Investment Network (I3N)
A K Surya Power Magic
Private Limited
0.5
Apr 14
Renewable
Power
Generation
Lightbox Ventures Kotak Urja Private Limited NA
Feb 14
Solar lighting
and power
products
DFJ, Omidyar Network,
Nexus India Capital, Gray
Ghost Ventures, Acumen
Fund and Garage
Technology Ventures
D.light Energy Private
Limited
11
21. Renewables Outlook
21
Vast RE potential
Ever increasing energy demand
Increasing affordability of RE
Visible recent policy initiatives
Aggressive RE targets set for 2022
Increased foreign investor interest in Indian RE
Policy implementation uncertainty
Inadequate transmission and evacuation
infrastructure
High debt finance cost
Limited participation from equity investors due
to exit challenges
Opportunity for small investments through off-
grid projects
Poor financial health of DISCOMs
The drivers for renewable energy in India outnumber the hurdles. If challenges related to policy
implementation and financing can be resolved, the next decade could see unprecedented
investment activity in Indian renewable energy sector
22. Contact us at
Corporate Office
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Sector 54, Gurgaon – 122002
India.
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22