The Indian renewable energy industry is on the cusp of a major transition. The new government, under Prime Minister Narendra Modi, has charted a vision for clean and affordable energy with emphasis on renewables. Thus, renewables will play a significant role in achieving the energy security objective, promising to offer 24x7 energy access to all by 2019. The foundation for this role will be laid in 2015.
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Prime Minister Narendra Modi has ramped up his target for solar energy as he bets on renewables to help meet rising power demand and overcome the frequent outages that plague Asia's third largest economy, a senior official told Reuters. India gets twice as much sunshine as many European countries that use solar power. But the clean energy source contributes less than 1 per cent to India's energy mix, while its dependence on erratic coal supplies causes chronic power cuts that idle industry and hurt growth. Modi now wants companies from China, Japan, Germany and the United States to lead investments of $100 billion over seven years to boost India's solar energy capacity by 33 times to 100,000 megawatts (MW), said Upendra Tripathy, the top official in the Ministry of New and Renewable Energy. That would raise solar's share of India's total energy mix to more than 10 per cent. In Germany, a leader in renewable energy, solar accounted for about 6 per cent of total power generated in 2014. India had earlier set an investment target of $100 billion for the next five years for all types of renewable energy, with wind taking up two-thirds of the total. In an interview, Tripathy said Modi's new solar target was ambitious, "but if you do not have a higher goal, you will not achieve anything". Canadian Solar and China's JA solar told Reuters they are looking at making cells or modules - used in solar panels - in India. JinkoSolar Holdings said recent announcements have also raised their interest. US based First Solar and SunEdison Inc have sizeable businesses in India, and together with local firms will invest $6 billion in India for the fiscal year to March 31. Tripathy expects new and existing companies to invest about $14 billion annually starting next fiscal year through to 2022. Among First Solar's top projects are two plants with Kiran Energy Solar Power and Mahindra Solar One totalling 50 MW in Rajasthan. SunEdison is working on a 39 MW project in India and hopes to participate in the solar expansion plan, said regional managing director Pashupathy Gopalan. Cost ChallengeSolar energy in India costs up to 50 per cent more than power from sources like coal. But the government expects the rising efficiency and falling cost of solar panels, cheaper capital and increasing thermal tariffs to close the gap within three years. Modi promised on high-profile visits to Japan and the United States last year to help solar companies overcome barriers to entering the Indian market. "Their basic problems are who is the buyer, where is the land and can India have a regime where they can raise low-cost capital?" Tripathy said. "These three issues have to be addressed and we are addressing them." To create sufficient demand, power distributors will have to raise renewable energy purchases to 8 per cent from 3 per cent by 2020. There is also a plan to require new thermal plants to have a 10 per cent renewable mix, which they can generate or buy from solar companies as credit. India recently signed a $1 billion agreement with the Export-Import Bank of the United States for companies willing to ship equipment from that country. India is also thinking of solar bonds and helping foreign firms raise rupee bonds to cut costs. Foreign companies say they are enthused by Modi's personal interest, but red tape is still an issue. "The policy framework needs to be improved vastly. Documentation is cumbersome. Land acquisition is time-consuming. Securing debt funding in India and financial closures is a tough task," said Canadian Solar's Vinay Shetty, country manager for the Indian sub-continent.
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Suzlon Group, the largest wind turbine manufacturer, surpassed the capacity of Asia’s largest wind farm at Kutch, Gujarat to 1100 MW. With this expansion, Suzlon now generates 1800 MW in Gujarat thus accounting for 20 per cent of Suzlon’s total pan-India capacity of over 8250 MW.Company unveiled S97 120m – World’s tallest hybrid tower to harness the wind energy across low wind sites. It is installed at Jamanwada, Kutch in Gujarat and has successfully generated 1500+ kWh in its pilot stage of three months.Tulsi Tanti, CMD, Suzlon Energy, said, “The S97 120 m hybrid tower, a potential game changer, is the result of our continued focus to invest in next generation technologies that will provide energy efficient solutions thus ensuring higher yields to our customers. As the world is waking up and implementing measures to combat climate change, the contribution of wind energy in the energy architecture mix across the world has increased manifold. Governments are now pivoting their attention on renewables to provide the much needed energy security for their respective countries.”The S97 120M hub height hybrid tower is part of Suzlon’s S9X turbine suite.Edelweiss To Provide Smart Investment Options Through ETFs Edelweiss Asset Management, a subsidiary of Edelweiss Financial Services Ltd - announced that it has licensed the MSCI India Index as the basis for a forthcoming ETF from MSCI, the largest index provider in the world. This will be the first ETF based on an MSCI index in India and has been done keeping in view the increasing demand for low cost investment solutions amongst investors.Vikaas M Sachdeva, CEO, Edelweiss Asset Management Ltd said, "ETFs have been around for a long time and also they have a worldwide inflection point of 10-11 years. We have a very strong in-house manufacturing and distribution capabilities and it is only appropriate from our side that we provide Indian investors options to invest in domestic as well as global indices. Hence the main aim is to expand the Asset Management market."Edelweiss Mutual Fund through its offerings focuses on providing better risk-adjusted returns which has made it a pioneer in providing low volatility investment solutions. The Fund House has a diverse product portfolio straddling the risk spectrum with an offering for just about every investor.Vasco Launches Bluetooth-enabled Digipass Authenticators Vasco Data Security International, a global leader in authentication, electronic signatures, and identity management, announced two new DIGIPASS Authenticators DIGIPASS 875 and DIGIPASS GO215 with Bluetooth capabilities. Both devices provide enhanced security for the growing number of mobile devices such as smart phones and tablets.Vasco Digipass 875 is suited for environments with high security and convenience requirements such as internet banking and e-commerce. It offers WYSIWYS (What You See Is What You Sign) functionality that allows the user to see the transaction amount and account number before they electronically sign a transaction. This protects against Man-in-the-Middle attacks, a common attack method used by hackers. DIGIPASS 875 supports mobile devices across multiple platforms including iOS, Android, and Windows Phone, and it can be used with multiple card formats.Digipass GO215 can communicate with any Bluetooth Smart Ready mobile device. It provides a positive and frictionless user experience and enables a higher level of security for mobile banking. The DIGIPASS GO215 instantly creates a virtual secure channel between the host server and the mobile device to secure communication between these two. A single push of a button generates a One Time Password to secure access and transactions. In its connected mode, the GO215 offers electronic signing for additional transaction security.Perpetuuiti Expands Business To North AmericaPerpetuuiti Technosoft (PTE), a leading global Information Technology products company, announced its partnership with Cyber Innovation Labs (CIL), a premier provider of enterprise-class managed Infrastructure-as-a-Service solutions and professional services, in North America. CIL will deliver Perpetuuiti’s extensive business resiliency and service availability suite to the North American market.According to an IT complexity expert and Object Watch founder, Roger Sessions, organizations in the United States lose $1.2 trillion from IT failures every year. The biggest pain points for the North American market are silent IT disasters which have drastic consequences on businesses. Perpetuuiti’s comprehensive end-to-end business continuity and disaster recovery planning includes in-depth plans and action points for silent disasters, thereby ensuring that businesses are protected from unexpected and expected risks.Perpetuuiti’s Business Impact Analysis (BIA) of all probable risks allows enterprises to plan for even the most unexpected disasters and therefore ensure minimum impact on systems, data and processes. Perpetuuiti’s solutions ensure business continuity and resiliency by providing real-time visibility into cascading effects and business impact of silent disasters.Affle Appoints Amit Sharma As MDAffle, a leading Mobile Apps & Ads as a service (MAAS) company, announced the appointment of Amit Sharma as the Managing Director of Affle Appstudioz, it’s mobile apps and analytics platform business. Amit is one of the founding team members of Affle’s India business and has in the last 8 years played multiple roles in the company. In his most recent role he led International Sales & Delivery team and was instrumental in building Affle’s business and partnerships in new markets globally. In his prior roles in the company he had led the Mobile Apps and Operation Services Group, which successfully deployed Affle's apps and platforms with multiple carriers, publishers and other partners. Prior to working with Affle, Amit worked with one of India's leading media houses - The Indian Express Group where he was part of the IT, managed infrastructure, communication & security teams. Also as part of the announcement it is confirmed that Saurabh Singh and Snigdha Singh, the ex-promoters of AppStudioz are no longer associated with Affle Appstudioz Pte Ltd and Appstudioz Technologies Private Limited.Dell Bolsters Digital Services And Analytics Software Solutions To Help Enterprises At Dell World, Dell introduced a series of solutions that help enterprises take advantage of analytics to enable improved customer relationships and transform data into actionable business insights. Dell Services introduced comprehensive, digital business services that help customers redesign business processes to improve operational efficiency and engagement at every point in the customer experience through digital technologies. In addition, Dell Software announced the start of a collaborative effort with Microsoft aimed at delivering predictive analytics in a hybrid cloud setting. Dell Software is also upgrading its Statistica (formerly StatSoft) advanced analytics platform with enhanced big data capabilities through integration with Kitenga.Dell Services is focused on helping its customers in three primary areas: modernization, transformation and digital services. Today, the business unit has unveiled a new, dedicated service line called Dell Digital Business Services (DBS), which includes Digital Transformation Consulting and Digital Technology Services, to help customers better understand their end users’ preferences and transform business processes using digital technologies.Digital Business Services leads with consulting to help companies assess their needs and create a plan to leverage digital technologies including analytics, mobile, social media and cloud, along with other emerging trends, such as the Internet of Things. DBS pulls in best practices from Dell’s analytics solutions, experience as a social media pioneer, acquisitions across cloud and business intelligence, deep partnerships and expertise in digital technologies, and IP from across Dell’s end-to-end portfolio. With this comprehensive solution, Dell Services is uniquely able to help customers adapt their business processes and operating models to a take a digital-first approach.
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