As predicted—action in Renewables now shifts to battery storage. Elon Musk built a 100 MW storage facility in Australia. Now Hyundai plans to build 150 MW storage park—again in Australia. Future bids are certain to come bundled with associated storage. Game changes fast!
Energy storage parks taking off
Hyundai Electric has built a 150 MW storage system in a $45 million contract for Korea Zinc in South Korea. A $160 million generation-cum-storage park is being set up in the US.
Whilst the Power sector continues to struggle with stressed assets and NPAs, one has to admit that Minister Gadkari, in his own vigorous way, has managed to substantively reduce the same in the roads sector. FE reports that `3 lac crs salvaged
NHAI & markets to the rescue
Eight mid-sized projects stalled for the last 3-4 years received financing from NHAI just very recently. Many companies with roads contracts have tapped into equity markets as well.
Shift from coal & gas to renewables has clearly jolted the structure of the power equipment market & the careers of traditional power sector professionals. Highlighting this painful transition is GE now, with the cut of 12,000 jobs from its once-invincible power vertical
Power’s renewable pangs
Almost two-thirds of the $11.3 trillion investment expected to be made in power till 2040 will be in renewable energy, which will be generating more power than coal by then.
Reverse auctions are throwing up a tough economic and public policy conundrum. They are the best for discovering the lowest possible price—and ultimately good for the consumer. But in the process, aggressive bids are destroying sector viability. Is there a middle ground?
Reverse bidding will affect renewable sector
Apart from states reneging on PPAs signed when costs were higher, the aggressive bidding is resulting in renewable developers squeezing OEMs or looking at cheap imports.
Bharat Jodo: From Kashmir to Nagaland, new railway lines are knitting India closer. Now PMO has set 2020 deadline for completing the 83 km link between Dhansiri in Assam to Zubza (near Kohima) in Nagaland. Aim is to link all NE state capitals by rail
NE railway line back on track
The project was languishing since its announcement in 2006, while cost estimates rose from `850 crore to `3,000 crore.
Great idea of a Waste Exchange: GMEXTech of London & Clean Ganga Mission enter into agreement to set up spot market for trading waste. All waste can be brought to collection centres and get paid for on spot. Will enable predictability for downstream waste-using industries
Waste spot exchange to help clean Ganga
The exchange—pilot in select districts abutting the river in northern states—will have to deal with the fact that waste buyers and collectors are largely in the unorganised sector.
Bharat Net progress: For such a mammoth & ambitious program, isn’t doing all that badly. Aims to deliver high-speed broadband to all 2,50,000 village panchayats for use by residents. Was launched in Oct 11. New deadline for completion is March 19. Huge amount of cabling!
BharatNet doing OK
Work on first phase, for which the deadline was March 2017, is still on. Optical fibre laid in nearly 1 lakh gram panchayats as per target, but net connection provided to only 22,000 due to equipment procurement issues.
If the speed of execution of the Agra- Lucknow Expressway was any indication, then NCR may get its new 2nd Airport before Mumbai. UP Govt gives approval for acquisition of 3000 hectares of land at Jewar near NOIDA; and gets set to have project devpt processes going
New airport in NCR set to take off
The airport will be developed in four phases. The first will require 1,206 hectares of land at an estimated `3,000 crore.