1) REC markets maintained strong volumes and prices in December, with the clearing price reaching Rs. 2,950 per REC, a historical high. Trade volumes on IEX reached a record high as well.
2) Over 1,870 MW of renewable energy capacity has been registered for the year to date, with over 2,107 MW being accredited. Uttar Pradesh leads in total registered and accredited capacity.
3) The UNFCCC COP17 in Durban concluded with agreements to extend the Kyoto Protocol and work on a new global climate agreement, but carbon market prices remain uncertain due to political and economic factors.
Mr V Vaideswaran, Deputy General Manager, National Housing Bank gave presentation on refinancing schemes for green affordable housing projects at 15th CII-IGBC's Green Building Congress 2017 event at Jaipur
According to the Central Electricity Authority (CEA), the average per capita electricity consumption in India is about 704 kWh as compared to global world wide per capita consumption of 2,752 kWh. The Government of India is keen to increase per capita consumption of energy to raise living standards in the country. An average Indian consumes 0.53 tonnesof oil equivalent (TOE) of energy compared to the global average of 1.82 TOE.Higher economic growth is driving income growth, which in turn is driving up industrial investment and fuel consumption. In general, demand exceeds supply and there is a broad-based energy shortage, which is either met by imports or remains unmet.
Modern Energy Transport - Country Analysis IndiaAdityaDesai77
Analysis of Grid Infrastructure & Renewable Energy Potential.
Current Developments and the trends for the magnanimous growth of Electricity Demand for 1.3 Billion people.
Foreign policy has topped the agenda of the Narendra Modi government in its first few months. Soon after taking charge, Prime Minister Modi completed a strategic engagement with the world’s three largest economies – Japan, China and the US – which together account for approximately 40% of the global GDP. This was part of a larger international reach-out that included neighbouring countries.
The government’s foreign policy accentuates three elements: economic engagement, security cooperation and energy security. The latest edition of MSLGROUP in India’s ‘Public Affairs Round-up’ (PAR) newsletter analyses the significant progress of the policy.
A rejuvenation of the economy cannot be achieved without reforms that are in keeping with the business environment and needs. These include achieving a critical balance between ecological conservation and industrial expansion, as well as more efficient public sector governance. This edition of PAR includes an infographic on the key reforms required.
For all of the above, a digital ecosystem could prove to be the game-changer. India has flagged off the Rs 1,13,000 crore ‘e-Kranti’, or ‘Digital India’, initiative – the world’s most ambitious broadband project. MSLGROUP in India puts the initiative under the microscope.
We hope you enjoy reading it. For more information or feedback connect with our India team @MSLGROUP_India or reach out to us on Twitter @msl_group.
Mr V Vaideswaran, Deputy General Manager, National Housing Bank gave presentation on refinancing schemes for green affordable housing projects at 15th CII-IGBC's Green Building Congress 2017 event at Jaipur
According to the Central Electricity Authority (CEA), the average per capita electricity consumption in India is about 704 kWh as compared to global world wide per capita consumption of 2,752 kWh. The Government of India is keen to increase per capita consumption of energy to raise living standards in the country. An average Indian consumes 0.53 tonnesof oil equivalent (TOE) of energy compared to the global average of 1.82 TOE.Higher economic growth is driving income growth, which in turn is driving up industrial investment and fuel consumption. In general, demand exceeds supply and there is a broad-based energy shortage, which is either met by imports or remains unmet.
Modern Energy Transport - Country Analysis IndiaAdityaDesai77
Analysis of Grid Infrastructure & Renewable Energy Potential.
Current Developments and the trends for the magnanimous growth of Electricity Demand for 1.3 Billion people.
Foreign policy has topped the agenda of the Narendra Modi government in its first few months. Soon after taking charge, Prime Minister Modi completed a strategic engagement with the world’s three largest economies – Japan, China and the US – which together account for approximately 40% of the global GDP. This was part of a larger international reach-out that included neighbouring countries.
The government’s foreign policy accentuates three elements: economic engagement, security cooperation and energy security. The latest edition of MSLGROUP in India’s ‘Public Affairs Round-up’ (PAR) newsletter analyses the significant progress of the policy.
A rejuvenation of the economy cannot be achieved without reforms that are in keeping with the business environment and needs. These include achieving a critical balance between ecological conservation and industrial expansion, as well as more efficient public sector governance. This edition of PAR includes an infographic on the key reforms required.
For all of the above, a digital ecosystem could prove to be the game-changer. India has flagged off the Rs 1,13,000 crore ‘e-Kranti’, or ‘Digital India’, initiative – the world’s most ambitious broadband project. MSLGROUP in India puts the initiative under the microscope.
We hope you enjoy reading it. For more information or feedback connect with our India team @MSLGROUP_India or reach out to us on Twitter @msl_group.
PES Wind Magazine - Ingeteam Wind Energy on India's clean energy industryIngeteam Wind Energy
In February 2015, the Indian government announced its plans to almost quadruple its renewable power capacity to 175 GW by 2022 as part of the plan to supply electricity to every household in the country. This includes 60 GW from wind energy. Further, India made a commitment at COP21 to raise the share of non-fossil-fuel power capacity in the country’s power mix to 40% by 2030.
Consequently, these plans and targets make the Indian market a unique fast moving and growing market where competitive companies can have great business opportunities. But, they also come with a complex and unstable legal framework where manufacturers find many obstacles on the way.
India’s dependence on coal for energy production is worrying. There is an urgent need to diversify energy sources; it could mean the difference between a robust economy and ones that struggles.
MSLGROUP in India’s latest public affairs newsletter analyses the government’s efforts to establish a renewable energy paradigm.
With solar power prices falling, it is clearly the focus of the push. Wind is another priority area. Ambitious targets have been set but the plan has its flaws. Critics point out that innovative funding models are required, so are tax incentives.
‘Public Affairs Round-up’ also puts under the microscope two landmark legislations – the controversial Land Acquisition Bill and the Insurance Bill. Both have been the subject of intense debate. While industry has lauded both of them, critics say the bills would have an adverse social and economic impact.
Similarly, the Goods and Services Tax (GST) finds itself at the centre of a political storm. A consensus among the states on it was elusive even as the government committed to implementing it next year.
What will they mean for India and will they help achieve the economic resurrection the country needs?
We hope you enjoy reading it. For more information or feedback connect with our India team @MSLGROUP_India or reach out to us on Twitter @msl_group.
How JICA mobilizes private sector finance and investments for affordable and ...OECD Environment
BIAC-OECD Virtual Roundtable on mobilising private sector finance and investments for affordable and clean energy in developing countries, 26 October 2021
PES Wind Magazine - Ingeteam Wind Energy on India's clean energy industryIngeteam Wind Energy
In February 2015, the Indian government announced its plans to almost quadruple its renewable power capacity to 175 GW by 2022 as part of the plan to supply electricity to every household in the country. This includes 60 GW from wind energy. Further, India made a commitment at COP21 to raise the share of non-fossil-fuel power capacity in the country’s power mix to 40% by 2030.
Consequently, these plans and targets make the Indian market a unique fast moving and growing market where competitive companies can have great business opportunities. But, they also come with a complex and unstable legal framework where manufacturers find many obstacles on the way.
India’s dependence on coal for energy production is worrying. There is an urgent need to diversify energy sources; it could mean the difference between a robust economy and ones that struggles.
MSLGROUP in India’s latest public affairs newsletter analyses the government’s efforts to establish a renewable energy paradigm.
With solar power prices falling, it is clearly the focus of the push. Wind is another priority area. Ambitious targets have been set but the plan has its flaws. Critics point out that innovative funding models are required, so are tax incentives.
‘Public Affairs Round-up’ also puts under the microscope two landmark legislations – the controversial Land Acquisition Bill and the Insurance Bill. Both have been the subject of intense debate. While industry has lauded both of them, critics say the bills would have an adverse social and economic impact.
Similarly, the Goods and Services Tax (GST) finds itself at the centre of a political storm. A consensus among the states on it was elusive even as the government committed to implementing it next year.
What will they mean for India and will they help achieve the economic resurrection the country needs?
We hope you enjoy reading it. For more information or feedback connect with our India team @MSLGROUP_India or reach out to us on Twitter @msl_group.
How JICA mobilizes private sector finance and investments for affordable and ...OECD Environment
BIAC-OECD Virtual Roundtable on mobilising private sector finance and investments for affordable and clean energy in developing countries, 26 October 2021
In this issues of General Carbon Newsletter:
-REC & CDM for Renewables
-Status of REDD
-Emerging Emission Trading Schemes
-And many more news, updates & highlights of carbon market
Short Listed Paper in the Category of World Bank Conference on Making Growth ...UPES Dehradun
The World Bank through its Competitive Industries (CI) Global Practice had organized a high-level conference on
"Making Growth Happen: Implementing Policies for Competitive Industries” for which it invited submissions that would set the grounds for policy discussions on the topic of the implementation of structural transformation.
The following paper was selected in the Short Listed Papers Category on “Making Growth Happen: Implementing Policies for Competitive Industries” by the World Bank, held on 16th -17th October, 2013 in Washington DC, USA.
ERG - italian investment conference 24-05-17ERG S.p.A.
This document contains certain forward-looking information that is subject
to a number of factors that may influence the accuracy of the statements
and the projections upon which the statements are based.
There can be non assurance that the projections or forecasts will ultimately
prove to be accurate; accordingly, the Company makes no representation or
warranty as to the accuracy of such information or the likelihood that the
Company will perform as projected.
This report on “Energy Efficiency in India: PAT Scheme - Success and Failures”, prepared by Tata Strategic Management Group, has a holistic view on the current state of energy efficiency and energy management in India. The focus of this report is on identifying key challenges faced by designated consumers in implementation of PAT Cycle I and how a collaborative effort in the right direction could ensure fast adoption of EE and robust energy management in India. It would gear India towards reducing energy intensity of the future growth, one of the prime objectives under NAPCC
Presented by Mr G. Pandian, Energy Economist, Bureau of Energy Efficiency (BEE), India at the IEA DSM Programme workshop in New Delhi, India on 2 April 2008.
Towards more integrated Baltic Sea region power market
Presentation by Simon-Erik Ollus, Vice President, Trading and Asset Optimisation, Fortum
In Fingrid Current 10.3.2020
New Investment in Renewables is just $2Bn short of overtaking Investments in Fossil Energy Sources. Read about trends in Renewable Energy Investments in First Issue of Better Energy Market Monitor
1. December 2011, Volume I, Issue V agneya
Markets stay strong – stage set for Last Quarter
RECs maintain strong showing at IEX
REC Trade Volume Clearing Price
Buy Bids Sell Bids
December 2011 Traded Rs. per REC
IEX 264,093 166,000 105,942 2,950
Non-Solar
PXIL 21,179 14,336 5,679 2,950
IEX 495 - - -
Solar
PXIL 5 - - -
Trade value highest this year; PXIL catches up on price
The REC market maintained its strong footing in the ninth REC trading session on Wednesday 28th December.
Final price realization of Rs. 2,950 was again the highest till date in the current FY. Major part of the trade
continues to be conducted on the IEX, where volumes too rose to a historical high, accompanying the increase
in price. Price rose to Rs. 2,950 at PXIL also although with muted trading volumes.
*Buy bids, Sell bids and Trade numbers in thousands; Source of data – IEX, PXIL
th
28 December, 2011 Page 1 of 4
2. December 2011, Volume I, Issue V agneya
Total trade value at the IEX rose 12% to more than Rs. 31 crores compared to Rs. 28 crores last month. Trade
at PXIL fell by a third to just Rs. 1.7 crores in the month. 400 MW of capacity was registered in December – the
highest till date in any month. At 424 MW, capacity accredited was also the highest in recent months.
YTD – Year to Date (April to Dec 2011); Source of data – REC Registry of India
The capacity registered year to date has now touched 1,870 MW while the capacity accredited now stands at
2,107 MW. Overall, registration at NLDC has therefore kept up with state level accreditation.
YTD – Year to Date (April to Dec 2011); Source of data – REC Registry of India
Uttar Pradesh is now the leading state in terms of projects registered and/or accredited with a total of 643 MW
registered and 658 MW accredited, YTD. Along with UP, Maharashtra, Tamil Nadu and Gujarat account for
90% of the total capacity registered/accredited till date. Kerala also made its debut with 21 MW of small hydro
th
28 December, 2011 Page 2 of 4
3. December 2011, Volume I, Issue V agneya
capacity accredited in December. In a further boost to the REC mechanism, Andhra Pradesh ERC has now
come out with draft regulations on the REC mechanism. A public hearing on this subject is proposed to be
held in January 2012. This opens up the route for REC projects to get accredited in AP. Among Renewable
Energy types, Wind continues to lead in the trading market with 45% of share in registration as well as
accreditation.
YTD – Year to Date (April to Dec 2011); Source of data – REC Registry of India
December opened with inventory of more than 130 thousand RECs. Issuance slowed down while redemption
maintained pace. As a result December ended with a net drop of roughly 25 thousand in REC inventory. Total
issuances crossed the 500k mark this month. Of these, 80% have been redeemed by December compared to
71% up till the end of last month.
Durban – Climate, Economy and Politics
The 17th Conference of Parties (COP) of the UNFCCC was convened in December 2011 to discuss the future
of the Kyoto Protocol after 2012. Expectations of a positive outcome were low in the run-up to it. One of the
major reasons was the differences between developed nations and emerging economies. The current
inventory of carbon in the atmosphere is a result of cumulative emissions over the last century, to which
developed nations have been the main contributors. On the other hand, emerging economies like India and
China are the largest emitters by absolute volume but low on per capita emissions. They would like to reserve
their right to address the needs of their growing economies and hence want preferential treatment under the
protocol i.e. commitments that are less stringent than those for developed nations. The challenge thus, was to
come up with an agreement that addresses climate change considering disparate interests of all parties.
Continued Uncertainty
The COP ended with Canada withdrawing from the protocol, joining Japan and Russia in deciding not to take
any further commitments. On the positive side, the agreed outcome was launched as the “Durban Platform for
Enhanced Action”. The EU already has its own internal target of lowering greenhouse gases by 20% below
th
28 December, 2011 Page 3 of 4
4. December 2011, Volume I, Issue V agneya
1990 levels by 2020. Now, the USA, India and China have also agreed to work on targets. Work will start next
year on a new legally binding treaty to cut GHG. This will be decided by 2015 and come into force by 2020.
The deal extends Kyoto until the end of 2017, ensuring there is no gap between commitment periods.
For carbon markets, this means continued uncertainty (after the COP, EU emission permits for December rose
to €8.32, before falling back below €8). This is discouraging news for investors looking forward to assistance
from CDM – while the mechanism holds, prices are expected to stay low. The situation is further exacerbated
by a weak European economy.
Implications for India
Given its need for large doses of infrastructure and energy, making commitments will be tough for India. In the
short run, India could try scaling up coal based power generation capacity rapidly before the 2020 baseline is
set. In the long term however, a sustained push will be required by the Government to arrive at a solution that
is acceptable to all stakeholders.
While Renewable Energy still needs support, it is only a part of the solution – it cannot replace conventional
fuels beyond a point. A combination of measures – many of which have already been kick started under the
NAPCC – will need to be implemented well. These include technology tie-ups with industry to introduce energy
efficient equipment and supply chains, tough decisions on pricing of electricity to farms and ensuring smooth
running of markets for ESCerts and RECs.
2012 promises to be a more challenging year for the Government of India – the Durban COP has sharply
highlighted the need for it to make tough decisions quickly. All the more so with the current political impasse
and an eye on the up-coming Lok Sabha elections in 2014.
agneya
At agneya, we work with Renewable Energy Generators to manage their REC accreditation, registration,
issuances and trading. We also work with companies covered by the Renewable Purchase Obligation (RPO) on
optimum ways to fulfill these obligations. agneya also provides services in the following areas –
Renewable Energy Project Management – advising clients on the best possible portfolio of renewable energy
(wind, solar, bio) across tariff regimes, technology options, electricity sales structuring and availing incentives
like REC and GBI.
Electricity Market Regulations – advising clients on regulatory aspects of electricity market, options for
realizing the maximum value from their energy assets and minimizing costs related to regulatory compliance.
Carbon & Energy – measuring carbon footprint, energy audits and current/future energy profiling to assess
risks and opportunities related to energy security and climate change.
Sustainability – building robust long term foundations for business i.e. managing economic, environmental and
social aspects of business. These include water management, sustainability management and reporting.
For further information on Renewable Energy Certificates or other services, please contact us at –
E-mail – rahul@agneya.in | Phone – +91-20-41315625, +91-88 06 07 07 83 | Website – www.agneya.in
th
28 December, 2011 Page 4 of 4