Wipro Partners with Kongsberg Digital to Deliver AI‑Powered Digital Twin Solutions for Energy & Utilities

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading AI-powered technology services and consulting company, today announced a strategic partnership with Kongsberg Digital, a global leader in advanced engineering and industrial digitalization, to jointly deploy next‑generation AI‑powered Digital Twin solutions for the Energy & Utilities Sector.

The collaboration brings together Wipro’s consulting-led approach and its AI-powered Wipro Intelligence™ solutions – Industrial-AssetsAI and UpstreamAI – with Kongsberg Digital’s Industrial Work Summit rface solution. Together, Wipro and Kongsberg Digital will enable more reliable, efficient, and safer operations across complex asset networks.

“At the core of this collaboration is a shared vision to rethink how industrial intelligence is designed and applied,” said Srikumar Rao, Managing Partner and Global Head of Engineering, Wipro Limited. “By combining our deep domain expertise in Energy & Utilities and the relevant Wipro Intelligence™ solutions with Kongsberg Digital’s digital twin platform, we are bringing AI, engineering, and operational insight together. This will enable enterprises to embed autonomy into their operations, allowing them to anticipate change, navigate complexity, and build resilience at scale.”

Together, Wipro and Kongsberg Digital will provide organizations with a unified environment that brings together physics‑based engineering models, real‑time operations, and enterprise AI. Once deployed, the joint offering will function as a digital twin that reflects real‑time conditions across plants, grids, and distributed assets. By combining simulation, data, AI, and automation in one integrated framework, Wipro and Kongsberg Digital can help organizations simplify digital transformation and strengthen operational resilience.

“Combining Kongsberg Digital’s Industrial Work Surface—which currently operates at some of the energy industry’s most complex assets—with Wipro’s AI-powered platforms and solutions, this partnership will extend our proven digital twin capability at scale, helping customers move from insight to operational impact faster,” said Shane McArdle, CEO of Kongsberg Digital.

As part of the agreement, Wipro and Kongsberg Digital will advance a joint roadmap to scale AI‑powered digital twin capabilities across Energy & Utilities environments, helping asset‑intensive organizations accelerate innovation, strengthen operational resilience, and deliver sustained improvements in performance, safety, and sustainability.

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading AI-powered technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our consulting-led approach and the Wipro Intelligence™ unified suite of AI-powered platforms, solutions and transformative offerings, we help clients realize their boldest ambitions to build intelligent and sustainable businesses. The Wipro Innovation Network–part of the Wipro Intelligence™ suite–underpins our commitment to client-centric co-innovation and co-creation by bringing together capabilities from the innovation labs and partner labs, academia, and global tech communities. With over 240,000 employees and business partners across 65 countries, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com.

Maharashtra Partners with AEEE to Boost Energy Efficiency and Decarbonisation Under Climate Action Plan

The Alliance for an Energy Efficient Economy (AEEE) and the State Climate Action Cell (SCAC), Department of Environment and Climate Change, Government of Maharashtra, announced a Memorandum of Understanding (MoU) today to establish a strategic framework supporting the State Action Plan on Climate Change (SAPCC).

The MoU aims to drive decarbonisation and reduce emission intensity by strengthening energy efficiency and demand-side management across key sectors such as buildings, industries, space cooling, and cold chains. This marks a significant step forward in advancing Maharashtra’s climate action.

This announcement was made at a Regional Dialogue convened by the India Cooling Coalition (ICC), titled “How Maharashtra is Building Next-Gen Cooling Infrastructure and Capacity.” The event brought together public and private sector experts, implementation partners, and members of the media, reaffirming Maharashtra’s leadership in advancing climate-resilient cooling solutions.

Abhijit Ghorpade

Announcing the MoU, Shri Abhijit Ghorpade, Director, State Climate Action Cell, Government of Maharashtra, said, "Maharashtra is committed to acting decisively and urgently on climate change. Our partnership with AEEE, and our growing engagement with the India Cooling Coalition, is a step toward scaling sustainable solutions that are suited to Indian conditions. As the state aspires to become India’s first trillion-dollar economy by 2028–30, we must integrate long-term, low-carbon strategies into our growth model. Through the revised State Action Plan on Climate Change and strengthened climate action at the grassroots, we are setting the direction for a climate-resilient future."

The Coalition also explored the urgent need for climate-aligned cold chain solutions in India’s agriculture and food systems, especially to tackle high post-harvest losses in perishable crops like fruits and vegetables. Maharashtra alone produces over 28.8 million tonnes of horticultural output annually, but loses an estimated 2.1 million tonnes to inadequate storage and handling.

A central theme throughout the dialogue was the critical need for robust and accessible cooling infrastructure, particularly in light of India's significant post-harvest losses, estimated between 6.02% to 15.05% for fruits and 4.87% to 11.61% for vegetables. Discussions highlighted the practical application of various support mechanisms, drawing insights from comprehensive resources like the Micro Cold Storage Schemes: A User-Friendly SOP Guide. Developed by the Alliance for an Energy Efficient Economy (AEEE), this guide compiles the key government schemes supporting micro cold chain infrastructure, bringing together scheme-wise Standard Operating Procedures (SOPs), eligibility criteria, documentation requirements, and step-by-step guidance in one accessible resource. It is designed to benefit smallholder farmers, Farmer Producer Organisations (FPOs), cooperatives, rural entrepreneurs, resource institutions, and financial institutions – helping unlock timely access, increase awareness of available support, and drive broader adoption of climate-smart, energy-efficient cold chain solutions that can transform outcomes for farmers and rural communities.

“Resources like this are crucial to turning policy promises into real progress,” said Khushboo Gupta, Principal Research Associate, AEEE. “By simplifying complex processes, they bridge the gap between intent and implementation – ensuring that support actually reaches those who need it most, especially smallholder farmers and grassroots enterprises.”

The Coalition also addressed critical areas such as passive cooling, thermal comfort in buildings and appliances, and innovating cold chains for a climate-resilient Maharashtra. These discussions showcased Maharashtra's leadership in modernising cold chains for the agri and fisheries sectors, scaling indigenous cooling technologies, and proactively shaping policy for sustainable cooling transitions, including the implementation of urban cool roofs.

This event, held on 7 August – a day observed as MS Swaminathan Day – also underscored India’s commitment to agricultural innovation and food security, building on the legacy of the ‘Father of the Green Revolution’ to drive climate-resilient transformation in the years ahead.

Asia’s 1st Subsea Research Lab Unveiled in India, Built By MIT-World Peace University

• MIT-World Peace University breaks new ground with Asia’s first Subsea Research Lab
• To foster multi-disciplinary talent for the global oil and gas industry

MIT-World Peace University, an esteemed institution of higher education in India with over 40 years of rich legacy has built the first-ever Subsea Research Lab in Asia, called the Centre for Subsea Engineering Research (CSER). This ground-breaking initiative, in partnership with Aker Solutions, showcases a working prototype of deep-water offshore petroleum operations, revolutionizing the way in which future workforce can be trained for the energy sector. The state-of-the-art laboratory is the brainchild of the Department of Petroleum Engineering (PE) at MIT-WPU, a pioneering institution in the field of energy and the second-oldest school engaged in imparting Petroleum Engineering education in India.

The Subsea laboratory has a vast range of applications, including hands-on academic curriculum experiments for petroleum engineering UG and PG students, joint professional training programs with industry experts in subsea and Industrial Safety and Health Engineering (ISHE), subsea engineering awareness programs and tours for college and school students as well as industry professionals. The facility also provides hands-on training using real-time drilling and well control systems for drilling and well control simulation experiments. It is an all-encompassing resource for those seeking to enhance their knowledge and skills in subsea engineering. The lab further intends to collaborate with industry and government, both on the national as well as international front, for initiating joint research projects, which can lead to knowledge generation and enhancing the energy security of our country.

MIT-WPU - Subsea Research Lab

Dr. Samarth Patwardhan serves as a Professor in Petroleum Engineering, as well as the Director of Research and Development at the university, also heads the lab. He commented, "At MIT World Peace University's School of Petroleum Engineering, we strive to empower our students with the knowledge and skills necessary to thrive in the energy industry. With the launch of the Subsea Research Lab, we are taking a significant step towards achieving our goal of providing real-world, cutting-edge training and education to our students. We are confident that this state-of-the-art facility will not only benefit our students, but also the industry as a whole, by producing highly skilled and competent professionals who are ready to tackle the challenges of tomorrow."

Parag Paranajape, Manager Systems Engineering, Aker Solutions, further added, “As we witness the steady growth of subsea oil and gas development on a global scale, there is an urgent need for skilled professionals who can meet the demand of this dynamic industry. Our partnership with MIT-WPU is a significant step towards addressing this skill gap and nurturing diverse skill sets across multiple disciplines to support the needs of the global oil and gas industry. By introducing subsea engineering as a subject and supporting the development of subsea knowledge and skills, we are confident that we can make a meaningful contribution to the growth and success of this industry."

Aker Solutions has supported MIT-WPU on this project from concept to completion including the laboratory's design, procurement, fabrication, installations, assembly, and equipment testing. Aker Solutions is also actively involved in the commissioning of the project and its working modules. A combined group of MIT-WPU faculty members, students, and Aker Solutions engineers have conceptualized the laboratory's experiments on well performance and remote operating vehicles.

About MIT-WPU

With a rich legacy of 40 years in fostering world-class academic excellence and over 1,00,000+ alumni across the globe, MIT-WPU is one of the premier institutions of higher learning in India that offers over 150 programmes at undergraduate, postgraduate, diploma and PhD levels. It is also known for its prolific placements and career support provided to the students. Spread over 65 acres, MIT-WPU is equipped with state-of-the-art infrastructure and facilities. Over 8,000 students enrol every year for different courses, across the 11+ Schools & 30+ departments of MIT-WPU.

To know more, visit: https://bit.ly/3XQN2Gn

Battery Storage, Smart Grid, and Efficiency Cos Raise $858 Mn in VC Funding in H1 2020 - Mercom Capital Report

Funding into Battery Storage and Efficiency companies was down in the first half of 2020

Mercom Capital Group, LLC, a global clean energy communications and consulting firm, released its report on funding and mergers and acquisitions (M&A) activity for the global Battery Storage, Smart Grid, and Energy Efficiency sectors for the second quarter (Q2) and first half (1H) of 2020.

Total corporate funding (including venture capital funding, public market, and debt financing) for Battery Storage, Smart Grid, and Efficiency companies in 1H 2020 was down 38% year-over-year (YoY) with $1.5 billion compared to $2.4 billion raised in 1H 2019.

Global VC funding (venture capital, private equity, and corporate venture capital) for Battery Storage, Smart Grid, and Efficiency companies in 1H 2020 was 51% lower with $858 million compared to over $1.8 billion in 1H 2019.

In Q2 2020, VC funding for Battery Storage, Smart Grid, and Efficiency companies increased with $605 million in 26 deals compared to $252 million in 16 deals in Q1 2020. Funding amounts were 61% lower YoY compared to the $1.5 billion raised in 21 deals in Q2 2019. The decrease in funding activity was primarily due to a billion-dollar deal in the Battery Storage sector in Q2 2019.

Battery Storage

VC funding in Battery Storage companies in 1H 2020 was down by 61%, with $536 million in 14 deals compared to $1.4 billion in 17 deals in 1H 2019. The decrease was due to Northvolt's $1 billion funding round in Q2 2019.

The Top 5 VC funding deals in 1H 2020 were the following: QuantumScape raised $200 million, ProLogium Technology raised $100 million, Demand Power Group secured $71 million, Highview Power secured $46 million, and Nanotech Energy raised $28 million. A total of 26 VC investors participated in Battery Storage funding in 1H 2020.

Announced debt and public market financing activity in the first half of 2020 ($180 million in five deals) was 67% lower compared to the first half of 2019 when $547 million was raised in five deals.

There were five announced Battery Storage project funding deals in 1H 2020, bringing in a combined $26 million compared to $499 million in four deals in 1H 2019.

In 1H 2020 there were a total of eight (all undisclosed) Battery Storage M&A transactions compared to six transactions (one disclosed) in 1H 2019.

Smart Grid

VC funding in Smart Grid companies in 1H 2020 was 79% higher with $275 million compared to the $154 million raised in 1H 2019.

In Q2 2020, VC funding for Smart Grid companies more than doubled with $194 million in 14 deals compared to $81 million in seven deals in Q1 2020. Funding amounts were 59% higher YoY compared to $122 million raised in seven deals in Q2 2019.

The Top 5 VC funding deals in 1H 2020 were: SmartRent raised $60 million, SmartWires raised $43 million, FreeWire Technologies received $25 million, Urbint raised $20 million, and Urjanet raised $15 million.

Announced debt and public market financing for Smart Grid companies came to $10 million in three deals in 1H 2020 compared to $1 million in one deal in 1H 2019.

In 1H 2020, there were a total of six Smart Grid M&A transactions (all undisclosed) compared to 18 transactions (one disclosed) in 1H 2019.

Efficiency

VC funding for Energy Efficiency companies in 1H 2020 was 77% lower with $47 million compared to the $207 million raised in 1H 2019.

In Q2 2020, VC funding for Efficiency companies increased with $40 million in four deals compared to $7 million in three deals in Q1 2020. Funding amounts were 63% lower YoY compared to $107 million raised in four deals in Q2 2019.

The Top 5 VC funding deals in 1H 2020 were as follows: Juganu raised $18 million, BrainBox AI raised $12 million, SmartAC.com secured $10 million, Rebound Technologies received $5 million, and HyperBorean received $2 million.

Announced debt and public market financing activity in the first half of 2020 ($500 million in one deal) was 793% higher compared to 1H 2019 when $56 million was raised in two deals.

In 1H 2020 there was one disclosed Efficiency M&A transaction compared to eight transactions (two disclosed) in 1H 2019.

To get a copy of the report, visit: https://mercomcapital.com/product/1h-q2-2020-funding-ma-report-storage-grid-efficiency

Adani Power to Acquire US-based AES Corporation's 49 % Equity Stake in Odisha Power

Adani Power will acquire US-based The AES Corporation's 49 per cent equity stake in Odisha Power Generation Corporation for USD 135 million (around Rs 1,019 crore), the Adani group firm said on Tuesday.

"Adani Power Ltd (APL) has signed a definitive agreement to acquire the 49 per cent stake in Odisha Power Generation Corporation (OPGC) from the affiliates of The AES Corporation (AES), the US-based global energy company," a regulatory filing said.

Adani Power will acquire a total of 89,30,237 equity shares held in OPGC representing 49 per cent of the total issued, paid-up and subscribed equity share capital of OPGC for USD 135 million.

The OPGC operates 1,740 MW thermal power plant at Banharpalli in Jharsuguda district, Odisha.

This plant is the mainstay of the Odisha state for base load power supply and amongst the lowest-cost power generated in the state.

The supercritical capacity of 1,320 MW is a recently commissioned modern plant with low carbon footprint.

The plant has a long-term power purchase agreement (PPA) valid for 25 years with the state owned off taker GRIDCO and sources fuel from a nearby captive mine.

The Government of Odisha holds the balance 51 per cent stake in OPGC.

The acquisition also marks APL's foray into Odisha state, and it demonstrates the Adani Group''s long-term commitment to develop and operate high quality infrastructure in the state, it said.

AES and Adani Group shall continue to partner to facilitate the delivery of renewables and energy storage in India, it added.

The Transaction is subject to customary regulatory approvals including
compliance with applicable requirements in relation to the Government of Odisha and the receipt of regulatory approvals such as Competition Commission of India and Reserve Bank of India, it added.

The turnover of OPGC during 2018-19 was Rs 887.71 crore.

World’s Largest Solar Contract worth $6 Billion Won by Adani Green

In one of world’s largest solar contract from Solar Energy Corporation of India (SECI), Adani Green Energy Limited (AGEL) has won the bid to develop solar photovoltaic (PV) power projects of 8 GW along with setting up a solar cell and module manufacturing capacity of 2 GW.

This contract, the largest in the world in a single bid, will entail a total investment of approximately $6 billion (INR 452 billion).

Notably, AGEL had submitted its bid for 4 GW of solar projects and 1 GW of manufacturing component, followed by Azure and Navyug, which submitted bids for 2 GW of projects each.

AGEL already operates Kamuthi Solar Power Project in the state of Tamil Nadu, which is one of the largest solar photovoltaic plants in the world.

“With this win, AGEL will now have 15 GW capacity under operation, construction or under contract thereby accelerating its journey towards becoming the world’s largest renewables company by 2025. This award will take the Company closer to its target of achieving an installed generation capacity of 25 GW of renewable power by 2025 which in turn will see it committing an investment of ₹112,000 crores ($15 billion) in the renewable energy space over the next 5 years,” said a company statement.

According to Mercom India Solar Project Tracker, AGEL has approximately 2.4 GW of large-scale solar projects in operation and over 10 GW under the development pipeline.

India Adds 1.1 GW of Solar in Q1 2020, Reports Mercom India

According to Mercom India Research, cumulative solar installations in India reached ~36.8 GW in March 2020

May 20, 2020 – India added 1,080 megawatts (MW) of solar in the first quarter (Q1) of 2020, a 43% decline quarter-over-quarter (QoQ), compared to 1,897 MW installed in Q4 2019, according to Mercom India Research’s newly released Q1 2020 India Solar Market Update. Solar installations were down by 39% year-over-year (YoY) compared to 1,761 MW added in Q1 2019. Solar capacity additions in India in Q1 2020 were the lowest in a quarter since Q4 2016.

In Q1 2020, large-scale solar projects totaled 886 MW, and rooftop solar installations added up to 194 MW.

“The lockdown in the country disrupted the supply chain, lowered power demand, resulted in currency fluctuations making component costs unpredictable, and has exacerbated the liquidity issues. We are cutting our solar demand forecast by about 40% from our previous estimates based on the COVID effect on the market,” said Raj Prabhu, CEO of Mercom Capital Group.

The report forecasts solar installations of approximately 5 gigawatts (GW) in 2020 as project timelines are extended and moved to 2021. The report goes into a detailed analysis of three different forecast scenarios.



The report identifies the lockdown imposed on the entire country due to the coronavirus pandemic since March 25, 2020, and the supply disruption caused by the shutdown in China as the reasons for solar installation declines in Q1 2020.

The disruption in India’s solar supply chain began with the work stoppage that started in China in February 2020. As a result of the supply shortage, construction activity was affected even before the lockdown was imposed in India.

The report noted that components shipping from China has yet to resume. Logistical issues are preventing goods from reaching project sites. Labor issues are also looming; most of the companies do not have the labor force to begin construction or production right away.

“As the market gets ready to open back up, we can expect to see shortages resulting in an increase in labor and component costs in the near-term. The next couple of months is critical, and any further extensions could mean further reductions in our forecast,” said Prabhu.

According to data from the report, at the end of Q1 2020, cumulative solar installations reached 36.8 GW. Large-scale projects accounted for 32.2 GW, whereas rooftop solar installations accounted for 4.6 GW.

The large-scale solar project development pipeline stands at 36.9 GW, along with 38.8 GW of projects tendered and pending auction at the end of Q1 2020.



Karnataka topped the list of states for cumulative large-scale solar installations accounting for about 23% of the total installed capacity in the country. Rajasthan was ranked second with 15% of installed capacity. Andhra Pradesh, Tamil Nadu, and Telangana rounded out the top 5 states for large-scale solar.

The report found that rooftop installations have been severely affected as businesses have been under lockdown. The commercial and industrial segment, which made up 96% of installations in Q1, was especially hard hit. However, demand has started picking up, and some key Industries like Textiles and Pharmaceuticals are ramping back up, in a positive sign for the industry.

“The next phase, when the country opens back up in stages, is important to monitor. If the outbreak intensifies after re-opening, then all bets are off. But if things go as planned, the solar industry should be up and running fairly quickly,” Prabhu noted.

Per the report, despite a tough quarter, solar installations accounted for an impressive 65% of all power capacity added in Q1 2020. Renewables as a whole, including wind and hydro, made up for a record 95% of capacity additions in the quarter.

Key Highlights from Mercom India Research’s Q1 2020 India Solar Market Update

• In Q1 2020, India added 1,080 MW of solar installations, a decline of 43% compared to 1,897 MW installed in Q4 2019. YoY installations declined by 39% compared to 1,761 MW in Q1 2019


• In Q1 2020, large-scale solar installations added up to 886 MW, while rooftop installations accounted for 194 MW


• 194 MW of rooftop solar projects were installed in Q1 2020, a decline of 36% compared to 304 MW added in Q4 2019. YoY installs fell by 26%, compared to 263 MW installed in Q1 2019


• Cumulative solar installed capacity in India was approximately 36.8 GW at the end of Q1 2020.


• The large-scale solar project pipeline in India stands at 36.9 GW with 38.8 GW tendered and pending auctions at the end of Q1 2020.


• Mercom forecasts installations of approximately 5 GW for CY 2020.


• In Q1 2020, investments in the India solar sector totaled over $970 million (~₹72.9 billion), 40% lower compared to Q4 2019.


• Solar now represents 9.8% of the total power installed capacity in India as of Q1 2020.


• Electricity generated from solar in FY 2019-20 accounted for 3.6% compared to 2.85% in FY 2018-19.

Mercom Communications India, a subsidiary of U.S.-based Mercom Capital Group, is a clean energy research and communications firm in India recognized worldwide for its expertise in Indian cleantech markets. Located in Bangalore, India, Mercom has been providing communications and research services across India for clean energy organizations since early 2009. For more information, visit: http://www.mercomindia.com

About India Solar Market Update - Mercom’s India Solar Quarterly Update is the most in-depth and accurate report available on the state of the Indian Solar Market. The report covers the entire solar market, pricing, policies, and forecast that will help companies navigate the challenges as well as take advantage of opportunities in the market. For more information visit: https://mercomindia.com/research/

India Opens Nuclear Energy Space to Pvt Firm; To Tap Start-up Ecosystem, Setup Incubators

On 17 May, Finance Minister Nirmala Sitharaman today announced reforms that include opening up the nuclear/atomic energy sector to private players but as this space is highly sensitive the government will invite private firms only in the application of atomic energy in the fields of medicine, agriculture and nuclear research.

Government will now invite private firms to participate in the consumer application of atomic energy, including medical isotopes for cancer treatment and irradiation technology for the agriculture sector.

The announcement also mentioned linking India’s start up eco-system to the nuclear sector through Technology Development cum Incubation Centers.

There will also be Research Reactor to be set up in public-private partnership (PPP) mode that would use irradiation technology for food preservation -- to compliment agricultural reforms and assist farmers.

Research reactors are nuclear reactors that serve primarily as a neutron source. They are also called non-power reactors, in contrast to power reactors that are used for electricity production, heat generation, or maritime propulsion. Research reactors are simpler than power reactors and operate at lower temperatures. They need far less fuel, and far less fission products build up as the fuel is used.

Adani Transmission Saw Robust FY'20 with 50% EBITDA Growth and 26% Growth in PAT at Consolidated Level

Owing to AEML’s reduction in consumption in Q4 FY20 and refinance costs and repayments costs (one-time in nature) incurred in Q4FY20, the consolidated EBITDA registered 2% growth and 1% growth in PBT FY20 - Operational: Transmission availability maintained at 99.76% Transmission line of 129 ckt kms got operational Won 6 new transmission projects including Mumbai - HVDC Distribution loss reduced to 7.37% Sold 8,455 million units (up 79 million units YOY) Maintained supply reliability at 99.99% (ASAI) FY20 - Financial: Consolidated Operational Revenue up 57% at Rs. 10,237 Cr Consolidated Operational EBITDA up 50% at Rs. 4,287 Cr Operational EBITDA margins at 91.8% in Transmission and 24.0% in Distribution PBT up by 32% to Rs. 1,107 Cr PAT up by 26% to Rs.707 Cr EPS up 27% at Rs.2.94 Net cash generation of Rs. 1,043 Cr Q4FY20 - Financial: Q4 FY20 Revenue lower by 3% YOY at Rs. 2,220 Cr Operational EBITDA of Rs. 893 Cr, up 2% YOY Consolidated PAT of Rs. 59 crores, down 60% yoy primary decrease due to one-time write off finance sunk cost of Rs. 185 Cr (Non-Cash Item) Return and Ratios: RONW(1) at 14.3% in FY20 vs 12.6% in FY19 Net debt to EBITDA at 4.3x in FY20 vs 4.5x in FY19

Adani Transmission Ltd. (“ATL”), part of the Adani Group, today reported its results for Q4 FY20 and FY20.Financial highlights

• Financial Performance for FY20:
  
  
  
  
  • FY20 operational revenue up 57% YOY at Rs. 10,237 Cr on the back of strong revenue contribution from seven newly operational SPV’s(3) in transmission and AEML full year contribution.
  
  
  • Operational EBITDA of Rs. 4,287 Cr, up 50% YOY due to Rs 596 Cr of EBITDA contribution from seven newly operational SPVs and strong contribution from distribution business.
  
  
  • Transmission EBITDA margin at 91.8% due to operational efficiency and higher contribution from newly operational SPV’s. Strong Distribution EBITDA margin at 24.0%.
  
  
  • Consolidated PAT of Rs. 707 crore, up 26% yoy.
  
  
  
  


• Financial Performance for Q4 FY20:
  
  
  
  • Q4 FY20 Revenue lower by 3% YOY at Rs. 2,220 Cr due to lower share of distribution business on account of subdued power demand by industires.
  
  
  • Operational EBITDA of Rs. 893 Cr, up 2% YOY. Transmission Operational EBITDA of Rs. 618 Cr, up 18%.
  
  
  • Consolidated PAT of Rs. 59 crore, down 60% yoy primary decrease due to one-time write off finance sunk cost of Rs. 185 Cr (Non-Cash Item).
  
  
  
  

Transmission and Distribution business segment highlights:





Other Key Highlights:

ATL continues to focus on freeing up its equity, reducing cost of debt and bringing in marquee partners to set global corporate practices. 

• ATL successfully completed its maiden US Private Placement of USD 400 Million in Feb-Mar 2020.


• Completion of Qatar Investment Authority (QIA) investment in AEML.


• AEML completes first ever USD bond issuance by a private integrated utility from India, raising USD 1 Billion in February 2020.

Notes:

RONW = PAT / Average Net Worth (adjusted for perpetual equity instrument)
Adani Electricity Mumbai Ltd. (AEML) is the licensee for an integrated power distribution, transmission and generation business that currently serves more than 3 million consumers across a license area of approximately 400 square kilometers in the city of Mumbai, the world’s seventh largest city by size of population. AEML’s market share of Mumbai is approximately 87% by license area, 67% by consumers served and 55% by electricity supplied.
Seven newly operational SPV’s include CWRTL, RRWTL, STL, ATRL, HPTSL, BPTSL and TPTSL

Speaking on the performance of the company, Mr. Gautam Adani, Chairman, Adani Group, said, “There is abundant potential for significant growth in India’s transmission sector in the coming years. With the government’s core focus towards the objective of 24x7 Power for all, Adani Transmission Limited with its widespread network and continuous growth looks forward to become world-class Electric Utility. Through its integrated ESG philosophy focusing on long-term value creation, ATL is striving towards nation building and fueling sustainability and will continue to explore opportunities for growth.”

Mr. Anil Sardana, MD & CEO, Adani Transmission Ltd, said, “Adani Transmission has evolved over the past few years from a high growth developing company to a mature asset operator with limited greenfield risk. Fueled by Indian economic growth, the growing power demand, coupled with government’s commitment to 24x7 power and promotion of renewable capacity will further drive power industry at large. Towards this effort, ATL’s focus in FY20 has been to expand the grid network and ensure high quality of electricity supply to our consumers. Through leveraging technology, innovation and commitment to transmitting bulk green power, we always make efforts to deliver and fuel country’s power demands. Company has also used its Business Continuity and Disaster Management drills during ongoing pandemic times in order to continue its essential services seamlessly”

About Adani Transmission Ltd.

Adani Transmission (ATL) is the transmission and distribution (T&D) business arm of the Adani Group, one of India's largest business conglomerates. It is the country’s largest private transmission company with a cumulative transmission network of more than 14,739 ckt kms, out of which more than 11,477 ckt kms is operational. This includes around 3,262 ckt kms in various stages of construction. ATL also operates a distribution business serving about 3 million+ customers in Mumbai. With India’s energy requirement set to quadruple in coming years, Adani Transmission is fully geared to create a strong and reliable power transmission network and work actively towards achieving ‘Power for All’ by 2022.

ReNew Power, Tata Power Top India's Solar Sector Market Leaderboard - Report

Mercom Communications India, a subsidiary of global clean energy communications and consulting firm Mercom Capital Group, has released its report, India Solar Market Leaderboard 2020. The report covers market share and shipment rankings across the Indian solar supply chain in 2019.

During the calendar year (CY) 2019, India installed 7.3 GW of solar power across the country, consolidating its position as the third-largest solar market in the world. India also had a robust pipeline of utility-scale projects under development of 23.7 GW at the end of 2019, with another 31.5 GW of tenders pending auction.

“The solar market leaders have changed in almost every category compared with last year. With a tough year ahead, we expect strong, resilient, and innovative companies continue to do well,” said Raj Prabhu, CEO of Mercom Capital Group.



The report reveals that the top ten large-scale project developers account for 68% market share in 2019. ReNew Power was the top utility-scale developer during 2019, while Azure Power owns the largest project pipeline.

There are around 29 large-scale solar developers with a project pipeline of 100 MW or more in India.

Large-scale solar installations in 2019 accounted for 85% with 6.2 GW. Also, solar accounted for 41% of new power capacity additions in 2019 behind coal which accounted for 44%.

Companies offering engineering, procurement, construction (EPC) services saw a lot of projects moved to 2020 due to delays caused by general elections, land, and evacuation issues, among others. Mahindra Susten was the top EPC player for utility-scale solar installations in 2019, followed by L&T.

Tata Power Solar had the largest cumulative rooftop portfolio, followed by CleanMax Solar. At the end of 2019, the top ten rooftop solar installers represented 34% of the total rooftop solar market share. In 2019, the rooftop solar market growth came down by 33% compared to CY 2018.

Huawei led the solar inverter market in India in 2019, followed by Sungrow. Other top string inverter suppliers included Growatt, Solis Inverters, and Delta Power Solutions.

At the end of December 2019, Trina Solar was the leading module supplier to India in terms of cumulative shipments, while Waaree Energies, Adani, and Risen Energy held the top spot in CY 2019. The top ten module suppliers accounted for over 62% of the market in 2019.

Ganges Internationale was the top supplier of solar mounting structures in 2019, followed by Purshotam Profiles and Strolar. Scorpius Trackers was the top supplier of solar trackers in 2019.

Rays Power Experts and CleanMax Solar were the top open access developers as of December 2019.

Ecoppia was the top supplier of solar robotic cleaning systems as of December 2019.

For the detailed and comprehensive report, click here

Battery Storage, Smart Grid, and Efficiency Companies Raise $252 Mn in VC Funding in Q1 2020

Battery Storage companies raise $164 million; Smart Grid companies raise $81 million; Energy Efficiency companies raise $7 million

Mercom Capital Group, llc, a global clean energy communications and consulting firm, released its report on funding and mergers & acquisitions (M&A) activity for the Battery Storage, Smart Grid, and Energy Efficiency sectors for the first quarter (Q1) of 2020.

In Q1 2020, $252 million was raised by Battery Storage, Smart Grid, and Energy Efficiency companies, a 20% increase from the $210 million raised in Q1 2019.

Battery Storage

Total corporate funding (including VC, Debt, and Public Market Financing) in Battery Storage came to $244 million in nine deals compared to $635 million in 10 deals in Q4 2019. Funding was up 88% year-over-year (YoY) compared to $130 million in nine deals in Q1 2019.

Venture capital (VC) funding (including private equity and corporate venture capital) raised by Battery Storage companies in Q1 2020 came to $164 million in six deals compared to $78 million in seven deals in Q1 2019. Quarter-over-quarter funding was also higher compared to $126 million in seven deals in Q4 2019.

The top VC funded Battery Storage companies this quarter were: Demand Power Group, which raised $71 million from Star America; Highview Power raised $46 million from Sumitomo Heavy Industries; Advano raised $19 million from Mitsui Kinzoku SBI Material Innovation Fund, Future Shape, PeopleFund, Thiel Capital, DCVC, Y Combinator; ZincFive raised $13 million from 40 North Ventures, and TWAICE raised $12 million from Creandum.



Fourteen investors participated in Battery Storage funding this quarter.

In Q1 2020, announced debt and public market financing for Battery Storage technologies was 54% higher YoY compared to $52 million in two deals in Q1 2019.

One battery storage project fund of $140 million was also announced in the quarter.

There were four M&A transactions involving Battery Storage companies in Q1 2020 (no transaction amounts disclosed). There were no M&A transactions in Q4 2019. There were four M&A transactions in Q1 2019, of which only one disclosed the transaction amount.

Blackstone Energy Partners acquired NRStor C&I, a subsidiary of NRStor, a developer of battery storage solutions.

There were four announced project M&A transactions in the Battery Storage category in Q1 2020 (all transaction amounts were undisclosed).

Smart Grid

Total corporate funding in Smart Grid came to $86 million in nine deals compared to $32 million in 16 deals in Q1 2019.

VC funding for Smart Grid companies increased in Q1 2020 with $81 million in seven deals compared to $32 million in 15 deals in Q1 2019.

The top 5 VC funded Smart Grid companies included: Smart Wires, which secured $43 million; GridBeyond raised $14 million from Energias De Portugal, Act Venture Capital, Electricity Supply Board, and Total Carbon Neutrality Ventures; Driivz raised $11 million from Gilbarco Veeder-Root and Centrica Innovations; Leap raised $8 million from Union Square Ventures, Silicon Valley Bank, Congruent Ventures, National Grid Partners, Powerhouse Ventures, Elemental Excelerator, and FJ Labs; and BluWave-ai raised $4 million from Sustainable Development Technology Canada and OCE.

Twenty-two investors participated in Smart Grid VC funding rounds this quarter with Grid Optimization company raising the most.

Five million dollars was raised in two debt financing deals in Q1 2020, compared to $28 million in one deal in Q4 2019. In a YoY comparison, $1 million was raised in one debt financing deal in Q1 2019.

Five M&A transactions were announced in Q1 2020 (none disclosed transaction amounts), compared to six undisclosed transactions in Q4 2019. In a YoY comparison, there were 10 M&A transactions (one disclosed) in Q1 2019.

EDF acquired a majority stake in Pod Point, an electric vehicle charge point provider.

Efficiency

Total corporate funding in Energy Efficiency came to $7 million in three deals compared to $345 million in two deals in Q4 2019. In a YoY comparison, $155 million was raised in two deals in Q1 2019.

VC funding raised by Energy Efficiency companies in Q1 2020 came to $7 million in three deals compared to $30 million in one deal in Q4 2019. In a YoY comparison, $100 million was raised in one deal in Q1 2019.

Eight investors participated in VC funding this quarter.

In Q1 2020, there were no debt and public market financing deals. By comparison, in Q4 2019, $315 million was raised in one deal. In Q1 2019, there was also one deal for $55 million.

In Q1 2020, there was one M&A transaction for $1.4 billion, while in Q4 2019, there was no M&A transaction. In Q1 2019, there was one M&A transaction for $310 million in the Energy Efficiency sector.

To get a copy of the report, visit: http://mercomcapital.com/product/q1-2020-funding-ma-report-storage-grid-efficiency

Mercom Capital Group, llc, is a global communications and research and consulting firm focused on cleantech. Mercom delivers market intelligence, and funding and M&A reports covering Battery Storage, Smart Grid and Energy Efficiency, and Solar, and advises companies on new market entry, custom market intelligence, and strategic decision-making. Mercom's communications division helps companies and financial institutions build powerful relationships with media, analysts, local communities, and strategic partners.

Sodium-ion Battery Maker Faradion may have Manufacturing Unit in India

UK-based Sodium-ion battery maker Faradion Ltd has recently announced that it is actively exploring having a manufacturing presence in India for its batteries for diversified applications. Sodium-ion battery (NiB) is a type of rechargeable battery analogous to the lithium-ion battery but using sodium ions (Na+) as the charge carriers.

Founded in 2011, Faradion had recently won its first order from ICM Australia, is seeking to push its Sodium-ion batteries over Lithium-ion batteries citing "exceptional superiority" and play a significant part in revolutionising automobile/mobility, storage and mobile sectors across the world.

"India is one of the largest markets for mobile devices across the world. Recently, the country has also demonstrated significant progress in the adoption of EV (Electric Vehicle) technology, making it a priority market for Faradion," the company said in a statement.

Internal data of Faradion has shown that sodium-ion batteries can be safely charged to 100 % of its rated capacity in just under 20 min. This significantly contrasts with the case of lithium-ion batteries (using conventional graphite anodes), which cannot be charged fast, as fast charging of lithium-ion batteries can often lead to explosions due to ‘lithium plating’ (a condition where the lithium-ions precipitate as lithium metal on the anode during fast charging instead of being safely inserted into the anode). In this manner, lithium plating can cause internal short-circuits in a battery leading to explosions.

Further, as the world seeks out alternatives to China-dependent Lithium-ion batteries, Faradion's Sodium-ion based technology offers a promising solution, it claimed.

"In line with this, Faradion is actively exploring manufacturing presence in India for its Sodium-ion batteries for diversified applications," the company said in a press release.

Faradion CEO James Quinn said Australasia is the next logical region for the company given the market conditions.

"Faradion is accelerating large scale industrialisation of its safe, low cost, Sodium-ion energy storage technology. After Australia, we foresee India as our next priority big market, given the huge growth in mobile devices and a bigger electric mobility market waiting to grow rapidly," he said.

Notably, storing and transporting lithium-ion batteries requires observing increased safety rules and is subject to strict regulations. Lithium batteries warrant extra safety provisions because, unlike other hazardous materials, lithium batteries contain both a chemical and an electrical hazard. To date, the best known way to handle lithium - ion battery cells is to avoid any storage condition at
or close to 0 Volts by ensuring that immediately upon manufacture , the lithium - ion battery is conditioned by a process involving at least two or three charge/discharge cycles , followed by a final charge to at least around 40% stage - of - charge .And here's where Faradion has got an edge as the companyy has patented the concept of transporting sodium-ion cells in the shorted state (at 0 V), effectively eliminating any risks from commercial transport of such cells.

~ With inputs from PTI

Adani Gas Reduces Prices of CNG and Domestic PNG w.e.f. 09th April 2020

Adani Gas Ltd. (AGL), the city gas distribution business of the Adani Group, is pleased to announce the reduction in the prices of Compressed Natural Gas (CNG) and Domestic Piped Natural Gas (PNG) across its various geographical areas with effect from 09th April 2020

The reduction in CNG prices is Rs 3.60 per kg in Mahendragarh geographical area in Haryana. In Faridabad and Khurja areas the reduction is Rs 2.75 Rs per kg, whereas reduction in Ahmedabad/ Vadodara areas in Gujarat is Rs 2.25 per kg. 

The reduction in Domestic PNG prices is Rs 1.0 per SCM across all our Geographical Areas. 

The details regarding the quantum of reduction in the CNG and Domestic PNG prices as well as our revised prices are given in the following table. All prices mentioned are inclusive of taxes. 

In addition to the reduction in the Domestic PNG prices, our consumers shall continue to have better convenience, increased digital payment facilities, safety, reliability of uninterrupted PNG supplies on 24*7 basis.



With the reduction in our already attractive CNG prices, our consumers shall now accrue much higher savings as compared to petrol and diesel (up to 50 % savings over petrol in some Geographical Areas). This will encourage all residents in our geographical areas to convert their vehicles to environmentally friendly CNG and contribute to reducing our carbon footprint. 

We hope that you continue to stay safe and healthy and enjoy contact-less Domestic PNG services of Adani Gas Limited with superior convenience and reliability even in these challenging times. 

About Adani Gas

Adani Gas Ltd is developing and operating City Gas Distribution (CGD) networks to supply Piped Natural Gas (PNG) to industrial, commercial and domestic (residential) customers and Compressed Natural Gas (CNG) to the transport sector. Natural Gas is a convenient, reliable and environment friendly fuel that allows consumers to enjoy a highlevel of safety, convenience and economic efficiency. Headquartered in Ahmedabad, India, the company has already set up city gas distribution networks in Ahmedabad, Vadodara in Gujarat, Faridabad in Haryana and Khurja in Uttar Pradesh.  Additionally, AGL has commenced Commercial Operations in several GA’s allotted under the 9thand 10thROUND of CGD Bidding by the PNGRB namely Porbandar, Kheda, Surendranagar, Barwala, Navsari in Gujarat, Udaipur in Rajasthan, Bhind in Madhya Pradesh, Jhansi in Uttar Pradesh  and Palwal in Haryana.

In addition, our joint venture company IOAGPL has already commenced its Commercial operations in the cities of Prayagraj, Chandigarh, Ernakulam, Panipat, Daman, Dharwad, Udhamsingh Nagar and Bulandsahar.

Adani Green Energy Limited (AGEL) consummates 2.148 GW JV with TOTAL, Receives INR 3,707 Cr

• AGEL receives INR 3,707 Cr for formation of the JV with TOTAL


• AGEL and TOTAL to own 50% each in the JV.


• Demonstrates AGEL and TOTAL’s commitment to contribute to India’s sustainable development goals.


• The closing of the transaction in the current environment reinforces the strength of the relationship between the partners and underscores the robust joint climate commitment of both partners

TOTAL S.A. (TOTAL), through its step-down subsidiary has today invested approx. INR 3,707 Cr for 50% partnership with AGEL in a Joint Venture (JV). The JV houses 2.148 GW operating solar projects operating across 11 states in India. The portfolio includes the Restricted Group 1 & 2 projects, which had recently raised USD 862.5mm from the international bond markets. Restricted Group 2 was the first Investment Grade rated issuance (rated BBB-/Baa3/BBB-) by a renewable business in India and was widely recognized by global capital markets and international publications.

The transaction underlines the partners’ commitment to contribute to addressing India’s sustainable development goals. Through the establishment of the joint venture, both partners aim to adhere to highest standards of governance and strengthen the foundation of the partnership between the two groups. The closing of the transaction in the current environment reinforces the strength of the relationship between the partners and further underscores the robust climate commitment of both partners.

In line with the Adani Group ESG philosophy, AGEL has a strong ESG framework focusing on Climate Awareness, Climate Readiness and Climate Alignment. Consistent with India’s commitment to renewable energy, sustainable development and UNFCC.

goals, AGEL is on track to achieve 25 GW by 2025. With this, AGEL also targets to become the largest solar player in the world by 2025 and the largest renewable player in the world by 2030.To support this vision, the Group has committed to invest over 70 per cent of its budgeted capex into clean energy and energy-efficient systems. This demonstrates Adani Group’s commitment to reversing the climate change.

About Adani Green Energy Limited

Adani Green Energy Limited, part of the diversified Adani Group, is one of the largest renewable companies in India, with a current project portfolio of6GW including under construction capacity. Additionally, AGEL participated, as successful bidder in SECI’s tender of manufacturing linked development project for a capacity of 8 GW and is awaiting its award.

India’s Open Access Solar Market Waiting to be Unleashed

The total installed solar capacity in the open access market has reached 3.6 GW as of December 2019 and the pipeline of projects under development and in pre-construction phase is estimated to be approximately 1.5 GW, according to the newly released report, The Open Access Solar Market in India – Key States, by Mercom India Research.

The open access solar market in India has been offering parallel opportunities for stakeholders, including large corporates, solar project developers, investors, and power distribution companies to participate in the solar growth story and meet renewable power obligations.

Based on cumulative installations as of December 31, 2019, Karnataka was the largest market for open access, followed by Andhra Pradesh, Maharashtra, Uttar Pradesh, Telangana, and Haryana.

According to the report, Karnataka was a very attractive state for open access projects through 2018, but now the state is more restrictive.

Uttar Pradesh, Haryana, Tamil Nadu, Maharashtra, and Andhra Pradesh have favorable policies for captive and group captive projects. The average open access tariff in these states range from ₹3.50-5.00 ($0.047- 0.068)/kWh with a yearly escalation of 1-2% depending on contract terms.

However, just because a state’s policy looks attractive on paper, it does not necessarily translate to success on the ground. According to the report findings, approvals are tough to get and government agencies are making it hard to get open access projects implemented.

For larger power consumers of over 1 MW, open access solar provides an attractive option of selecting their power suppliers, accessing quality power, reducing power costs, and going green.

The open access market in India is primarily made up of third-party sales and captive power generation. But due to a slew of charges and regulations, third-party sale projects have come to a standstill. The other option is captive power generation, where a single entity sources the power. The same captive power sourced by a group of companies is known as group captive projects.

Power purchase agreements (PPA) under the group captive model are largely for 15-20 year terms. Long-term open access PPAs are preferred by developers, while a lot of consumers favor short-term contracts. Short-term PPAs witnessed an increase over the past decade of 6% to 12% from financial year (FY) 2009 to FY 2019. Short-term contracts range from one month to one year.

Transmission and wheeling charges and additional cross-subsidy charges payable by open access consumers in top states hover around ₹2.32-3.79 ($0.031- 0.051)/kWh. These charges are in addition to the open access tariffs in the states.

There are plenty of multinational companies that are choosing group captive solar to go green but have strict norms to ensure the counterparty or the open access developer is financially sound and will stay invested for the long-term. This has brought in demand for serious players to develop projects to sell power to these companies.

Open access makes sense for an industry with high, round the clock power demand as their consumption can be off-set by cheaper renewable power. Industries like steel manufacturing, mining, refineries, cement manufacturing, chemical manufacturing, which operate round the clock, have a huge requirement of power, so they always opt for cheaper power irrespective of the sources.

“A sizeable investment can be unlocked from large corporates and multinationals who are ready and willing to invest in open access projects to meet their renewable obligations. Instead of encouraging and working towards the country’s goal of 100 GW of solar by 2022, states have erected hurdles at every step,” commented Raj Prabhu, CEO of Mercom Capital Group. “A serious push from the center to get states to reduce regulatory hurdles is needed for the open access market to take off again."

Rays Power Experts, CleanMax Solar, and Amplus were the top open access developers as of 1H 2019. ReNew Power and Avaada Energy are other developers in the top five position according to Mercom’s India Solar Market Leaderboard 1H 2019.

Mercom’s “The Open Access Solar Market in India – Key States” report is 56 pages and covers vital information and data on the market. For the complete report, visit: https://mercomindia.com/product/open-access-solar-market-india-key-states

US can Supply Energy to India as Much as it Wants - White House official

The US can supply energy to India as much as it wants as there is a much greater potential between the two countries in the key sector, a top White House official has said ahead of President Donald Trump's maiden visit to the country.

Talks are going on between India and the US on a trade deal, Larry Kudlow, economic advisor to President Donald Trump, told reporters at the White House on Thursday when asked about the progress on a trade deal ahead of the presidential visit.

Trump will pay a state visit to India on February 24 and 25 at the invitation of Prime Minister Narendra Modi, who on Wednesday said the US President's visit will be a "very special one" and it will go a long way in further cementing India-USA friendship.

Ahead of his visit, the two countries are eyeing to finalise a raft of mega defence deals including procurement of a batch of military helicopters by Indian Navy from American defence major Lockheed Martin at a cost of USD 2.6 billion.

Responding to a question on the increase in export of energy to India, Kudlow said there is a much greater potential.

"Could be, hope so. Let's remove all the barriers. They (Indians) need energy. We have the energy.

"When we had our bilateral meetings with the Prime Minister Modi, I said, you give me a number (to export energy from the US to India) and I'll meet it," Kudlow said.

In the last few years, America's export of energy to India increased from zero to USD 8 billion last year and this year it is expected to increase to USD 10 billion.

"Our energy trade touched close to USD 8 billion last year. Mind you, this was zero, a few years ago," India's new ambassador to the US Taranjit Singh Sandhu said in his remarks at a reception hosted in his honour by the US India Business Council.

"In fact in 2013, I testified before the House Energy Committee advocating US energy exports to India. In 2017, our leadership decided to elevate our energy partnership to a strategic energy partnership," Sandhu said.

According to the US State Department, US energy exports are an important area of growth in the trade relationship. In 2018, India purchased 48.2 million barrels of US crude oil, a significant increase from 9.6 million in 2017.

India and the US have established a Strategic Energy Partnership (SEP) replacing the erstwhile Energy Dialogue. This was done during the last meeting held in New Delhi on April 17, 2018 between Minister of Petroleum and Natural Gas Dharmendra Pradhan and US Secretary for Energy Rick Perry.

The SEP has four primary pillars of cooperation -- Oil and Gas; Power and Energy Efficiency; Renewable Energy and Sustainable Growth; and Coal.

As a first step, they also announced the establishment of US-India Natural Gas Task Force to support India's vision for natural gas. The two sides also reaffirmed their strong commitment to early and full implementation of the civil nuclear energy partnership, including the Westinghouse civil nuclear project in Kovvada.

As India prepares to receive Trump and First Lady Melania Trump, US defence major Boeing indicated that it was considering to offer its F-15EX Eagle fighter jets to Indian Air Force.

The company has already sought a licence from the US authorities for its possible export to India, eyeing a USD 18 billion contract by the IAF to procure 114 fighter jets.

Government and industry sources said the two sides are likely to finalise the USD 2.6 billion deal under which the US will supply 24 multi-role MH-60R Seahawk maritime helicopters to India. PTI LKJ

Renewable Energy Sources to Contribute 21% of Electricity Demand in India in 2021-22: Minister

Renewable energy sources are expected to account for around 21 per cent of electricity demand in 2021-22, Power Minister R K Singh said on Thursday.

"As per Central Electricity Authority's National Electricity Plan, contribution of renewable energy sources is estimated to be around 21 per cent of the total electricity demand of the country in the year 2021-22 and 24 per cent by 2026-27," Singh was quoted as saying in a statement issued by the power ministry

The major steps being taken by the government to meet the targets of renewable energy in the country include permitting Foreign Direct Investment (FDI) up to 100 per cent under the automatic route, strengthening of Power Purchase Agreements(PPAs) and mandating requirement of Letter of Credit(LC) as payment security mechanism by distribution licensees for ensuring timely payments to renewable energy generators.

As part of Intended Nationally Determined Contributions under the Paris Accord on Climate Change, India has made a pledge that by 2030, 40 per cent of its installed power generation capacity shall be from non-fossil fuel sources and will reduce its carbon emission intensity of GDP by 33-35 per cent considering 2005 level.

The government has set a target to install 175 GW of renewable energy capacity in the country by the year 2022. This includes 100 GW from solar, 60 GW from wind, 10 GW from biomass and 5 GW from small hydro power.

6 Mn Tonnes of Agro Residue worth Rs 4,200 Cr to be Used by NTPC for Power Plants

State-owned power giant NTPC has decided to procure and use six million tonnes of agro residue-based pellets to co-fire its power plants along with coal in 2020, in its endeavour towards more sustainable power generation.

Currently, NTPC is using agro residue-based pellets at its Dadri thermal power plant. In 2020, the company would use these pellets, made out of stubble and husk, in its 21 thermal coal-fired power plants across the country.

The company has 24 coal-fired thermal power plants. In addition to this, the firm has nine more coal-fired power plants under joint ventures or of subsidiaries.

A company official said, "The tendering process for procurement of pellets at 20 more thermal power plants (in addition to Dadri plant) is on. The company envisaged consumption of six million tonnes of pellets in 2020 in power plants. A tonne of pellets costs around Rs 7,000."

The procurement cost of 6 million tonnes of the pellets works out to be around Rs 4,200 crore.

The purpose behind usage of agro-based pellets is twofold — one it turns off stubble burning in farms and brings down pollution and two, it reduces coal usage in power production.

In the past fortnight, the NTPC Dadri power plant has been co-firing close to 70-80 tonnes of agro-residue fuel along with coal. The power plant till date has received almost 2,400 tonnes of non-torrefied biomass pellets from the large number of suppliers from Haryana, Punjab, Madhya Pradesh and Rajasthan.

Also, to give respite to the nation from the heavy smoke emanating from farms, NTPC had also started usage of fire pellets made out of agro-residue in October 2018.

The NTPC Dadri unit became the first plant in the country to commercialise biomass co-firing with up to 10 per cent of agro-residue-based biofuel, co-firing along with coal. PTI KKS

Everything You Need to Know about Solar Panels, Net Metering and Subsidy

Solar energy is rapidly gaining footprint worldwide. India is no different and is accelerating towards the adoption of this renewable energy rather quickly. The availability of technology and resources is enabling the feasibility of solar implementation in India. The role of government through the formation of specialised bodies such as MNRE (Ministry of New and Renewable Energy) and SECI (Solar Energy Corporation of India) has also helped the case of solar power in India. From net metering to subsidy – solar power is proving to be a win-win situation for everyone in the ecosystem. 

The push towards solar power is mostly because of its unprecedented advantages. However, today’s market is full of options – from different solar panels to entire solar systems altogether. Choosing the right solar power system, including the right solar panels is crucial for maximum efficiency; hence, choose reputed brands like Luminous offering end-to-end rooftop solar power system solutions that are suited for all residential needs. 

If you’re looking for a rooftop solar system, it’s essential to understand about solar panels and other technicalities associated with a solar system.

Solar Panels

We are all aware that the sun is the only source of solar energy. Solar panels also called photovoltaic panels (PV panels) are devices comprised of photovoltaic cells (PV cells) that convert sunlight into electricity. 

Solar cells or PV cells are made from silicon, a semiconducting material that converts light into electricity.

There are two types of solar panels – Monocrystalline and Polycrystalline. The two options vary in their performance, appearance, costs, how they are made and the purpose of installation. 

Monocrystalline Solar Panels

Monocrystalline solar panels are made from a single continuous crystal structure and can be identified by its solar cells, all appearing as a single flat colour (typically black). They have a smooth texture, and the thickness of the slice is visible. These panels are slightly expensive to produce. 

Polycrystalline Solar Panels

Polycrystalline solar panels contain many crystals as opposed to a single crystal in monocrystalline solar panels. Manufacturers melt many fragments of silicon together to form polycrystalline solar panels. These panels have a blue hue and are easily distinguished from monocrystalline solar panels. Polycrystalline panels are less expensive and ideal for Indian conditions. 

	Monocrystalline Solar Panels	Polycrystalline Solar Panels
Cost	More expensive	Less expensive
Performance	Good under low irradiation conditions	High while increasing the operating temperature
Efficiency	More efficient	Less efficient
Aesthetics	Black hue	Blue hue
Longevity	25 years	25 years

The choice of solar panels will depend on the use case and the area available for solar installation. 

[caption id="attachment_138920" align="aligncenter" width="1000"] Monocrystalline Solar Panel and Polycrystalline Solar Panel[/caption]

Monocrystalline Solar Panel and Polycrystalline Solar Panel

Now that you know the difference between the two, let’s understand the types of solar systems and the one apt for your requirement before we move to net metering and subsidy.

Solar Power Systems

For residential purposes, solar power systems are typically installed on rooftops. These power systems are of two types:

•  On-Grid System 

On-grid systems work together with the grid, i.e. the mains electric supply. The homeowner consumes electricity generated by the rooftop solar system, and any power that is left is supplied back to the grid.

[caption id="attachment_138919" align="aligncenter" width="1024"] On-Grid Solar System[/caption]

On-Grid Solar System

Now, this is where net metering comes in the equation. All the electricity that is fed back to the grid and consumed by the owner is calculated by a net meter. The difference is then reflected in the electricity bill. 

Net Metering

Net metering is a billing mechanism that credits solar energy system owners for the electricity they fed in the grid. The difference between the electricity generated by the consumer from a rooftop solar solution and the import of power from distribution companies (DISCOM) is billed to the customer. 

For instance, if you have an on-grid solar power installed on your rooftop, the system is likely to generate more energy than your consumption. So, with a net-meter, the electricity that is consumed and fed into the grid is calculated. The net energy usage is then billed to you. 

• Net metering allows solar energy users to control their electricity bills 


• Net metering protects the electric grid and creates a smoother demand curve for electricity that allows electric companies to manage peak loads efficiently

Here’s a state-wise net metering policy in India.

• Off-Grid System

Off-grid solar systems have a battery connected to them that stores the electricity generated by solar panels. These solar systems are typically used in areas with high power cuts or places that have no grid. 

Subsidy

The Government of India has launched a subsidy scheme for rooftop solar solutions to support the upfront cost of solar installation. Both the central government and State Nodal Agencies offer subsidy schemes. 

According to MNRE, the government pays 30% of the benchmarked installation cost for solar systems. The states in the North MNRE PV Rooftop Cell category (Himachal Pradesh, Uttarakhand, Sikkim, Lakshadweep and Jammu & Kashmir) get up to 70% of installation costs. 

Some other perks offered are: 

• 
  
  
  
  • Homeowners opting rooftop solar systems can avail priority sector loans of up to 10 lakhs from nationalised banks. The loan taken for a rooftop solar system will fall under the category of home loan or home improvement loan. 
  
  
  • Homeowners are also eligible for generation-based incentives that will pay them Rs 2 per unit of electricity generated.
  
  
  • Homeowners with rooftop solar panels can sell the excess of power, and they would receive a regulated cost per unit as set by the government.
  
  
  
  

Specifications to Avail Subsidy for Rooftop Solar System:

• A requirement of 100 square feet of space for the installation of the rooftop solar system


• To avail incentive, the customer should generate 1100 kWh to 1500 kWh per year

Solar power has two significant benefits – first, it’s cost-effective, thus promotes savings; second, it’s sustainable, which means it tackles the impending climate change. The push towards solar in India is massive, and as of July 2019, India’s solar installed capacity has reached 30GW, a substantial jump from the initial target of 20 GW in less than four years. 

If you’re considering going solar, make sure to choose solar panels and solar systems from reputed brands like Luminous. They offer maximum efficiency, different batteries, pure sine wave output and a 25-year warranty!

Energy leaders came together to celebrate India Energy Storage Week on 3rd World Energy Storage Day

100+ participants from 50+ industries and 10 National Research labs contributed to IESA Energy Storage & EV R&D forum

• MoU was signed between Meity Startup Hub (MSH) and India Energy Storage Alliance (IESA) to support the energy storage & EV startup ecosystem


• 80+ Investors attended the IESA Investor Forum and Start up pitch session featuring seven handpicked startups


• IESA launched a virtual accelerator program for startups focusing on energy storage and EV sector


• 30+ participants from companies interested in diversifying in energy storage & EV sector attended the 3rd IESA- IEEMA Masterclass on advanced battery manufacturing technology

More than 200 industry leaders gathered at India Energy Storage Alliance’s (IESA) India Energy Storage Week (IESW) to celebrate 3rd World Energy Storage Day in Delhi and Mumbai respectively. From 23rd September to 27th September the week-long activity saw representatives working on Technology, R&D, Policy and Investment collaborated and shared their thoughts on the future of storage.

Supported by Department of Science & Technology (DST), on 23rd September, India Energy Storage - EV Technology and R&D Forum took place in Delhi. Shri Gopalakrishnan S., Joint Secretary, Ministry of Electronics and Information Technology (MeitY) inaugurated the session and briefed on How MeitY is promoting all startups in India including energy storage. An MoU was signed between Meity Startup Hub (MSH) and IESA to support the startup ecosystem of the country. Shri Sanjay Bajpai, Head- Technology Missions Division, DST who chaired the session on ‘Vision setting for Indian R&D Ecosystem’ stressed upon the Mission Innovation program and its challenges in climate change. Dr. H Purshottam, CMD, National Research Development Corporation said that there's no lack of funds by the Government to support the startups and this is the best time for the innovation and R&D. Shri Sajid Mubashir, Scientist G, Department of Science & Technology (DST); Shri Arvind Kumar, Group Coordinator & Scientist 'G', R&D in Electronics, MeitY; Dr Tata Narasinga Rao, Scientist G & Associate Director, International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI); Mr. Alan Greenshields, Chairman, Innolith AG and others were some of the eminent speakers in the forum.

The inaugural session at 3rd India Energy Storage & EV Policy Forum, 24th September, Delhi focused on ways to make India a global hub for manufacturing of advanced energy storage and EV systems. An insightful presentation was made by Mr. Aman Hans, Public Private Partnership Specialist, NITI Aayog This was followed by panel discussion with Mr. Pankaj Batra, Chairman, ETD-52 Committee, BIS, Past Chairman, CEA; Dr. Rahul Walawalkar, President, India Energy Storage Alliance; Mr. Alan Greenshield, Chairman, Innolith; and Mr. Garett Fitzgerald, Manager (India), Rocky Mountain Institute (RMI). Mr. Pankaj Batra chaired the session on Energy Storage System for Stationary Applications for Grid Balancing, RE support and Energy Access. Mr. Saurabh Kumar, MD, Energy Efficiency Services Limited

(EESL )spoke on EV adoption in India, form factors across 2 wheelers, 3 wheelers and four wheelers, On Battery swapping and EV charging as part of the IGBC code. The forum brought together senior dignitaries and stakeholders from public and private utilities in the energy domain. The Utility Roundtable focused on energy storage requirements for utilities to manage high integration of renewables & peak management, ancillary services, grid stability, the impact of EVs on utility & the role of utilities in Charging Infra creation. What was also discussed was that charging of electric vehicles should be during the non-peak periods, which can be done through differential Time-of-day tariffs. The pain points from the DISCOMs point of view, as a result of most of the burden of intermittency being borne by DISCOMs, was also elaborately explained by B.B. Mehta, Chief Engineer, State Load Despatch Centre, GETCO.

IESA organized India’s first Investment forum focused on Energy Storage and Electric Vehicle ecosystem in partnership with Haitong Securities on September 25th, 2019 at Taj Santacruz, Mumbai. The event was a grand success with almost 50 investors (including institutional investors, family offices and angel investors) attending the event and gaining a better understanding of this fast- evolving ecosystem through interactions with industry leaders operating in this space. The event covered a wide range of topics from government initiatives as highlighted by Mr. Aman Hans, Public Private Partnership Specialist, Consultant, NITI Aayog, Government of India to business outlook as shared by Mr. Anil Gupta, Director, Okaya Power; Mr. Rakesh Malhotra, Founder, SAR group and Mr. Deepak Thakur , CEO, Energy Storage & Hybrid Solutions, Sterling and Wilson. The global perspective of energy storage applications was shared by Mr. Alan Greenshields, Chairman, Innolith and Mr. Jitendra Kulkarni, Vice President - Innovations at SoftBank Energy. In the electric mobility segment, leading players like Exicom and Toyota shared their viewpoints about the industry trajectory and what investors can expect from their investments in this space in the future. Startups such as VFLow Tech Pte Ltd, Statcon Enegiaa Pvt. Ltd, Supriya Charging infra LLP (Chhabi), Estimo Solutions Pvt Ltd, Raptee Motors Pvt Ltd, Cellerite Systems Pvt. Ltd and RangDe presented their pitch to scale their operations. These covered a wide range of applications from battery manufacturing, power electronics, EV infra analytics, electric two-wheeler OEM and charging infrastructure OEM. IESA launched a virtual accelerator program for startups focusing on energy storage and EV sector which will help the selected startups in reaching their goals.

The weeklong activities concluded with 2 days Masterclass on Advanced Storage Technology and Manufacturing Process on 26th and 27th September, Mumbai in association with Indian Electrical & Electronics Manufacturers’ Association (IEEMA). This saw more than 30+ participants in the masterclass. The discussion focused on advanced storage technology like lithium Sulphur, batteries for EV applications, manufacturing of components associated with EV and EV market overview and policy aspects from India. A lot of question was raised towards the availability of raw material reserve in India to which the speakers settled that India has enough reserve if other components of battery material can be considered (like Separator, Aluminum foil, Copper foil, etc.) Another important discussion was on should India simultaneously focus on commercialization of lab scale product. The Master class ended with a detailed manufacturing process and testing of batteries session.

Dr. Rahul Walawalkar, President, India Energy Storage Alliance (IESA) says, “We’re overwhelmed by the response received from the industry during India Energy Storage Week (IESW). I would like to thank the Policy makers, Regulators, Think Tank, National labs, Leadership Council, Members and our Partners for their active contribution. The goal of IESW was to build awareness and realize the importance of energy storage in application areas including EV, renewables, and carbon emission reduction. We look forward to many more celebration on World Energy Storage Day next year worldwide.” 

The five-day long celebration of IESW and the discussions held in the same indicates the importance of storage and the critical role the technology will play in the achievement of India’s energy security. All the discussions held in the sessions stressed about indigenous manufacturing, setting up of appropriate standards, procedures and laying out of proper policies and regulatory frameworks to make storage deployment sustainable over the long run.

About India Energy Storage Alliance (IESA): 

The India Energy Storage Alliance (IESA) was launched in 2012 to assess the market potential of Energy Storage Technologies in India, through an active dialogue and subsequent analysis among the various stakeholders to make the Indian industry and power sector aware of the tremendous need for Energy Storage in the very near future. IESA aims to make India a Global Hub for research and manufacturing of advanced energy storage technologies by 2020. During past years, IESA membership has grown from 5 to 90+ and covers verticals from Energy Storage Manufacturers, Research institutes & universities, Renewable Energy companies and Power electronics companies.

India Energy Storage Alliance (IESA) website: http://indiaesa.info/about-iesa