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Energy for all is the need of the hour, especially in an emerging <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword> like <keyword id="3658" type="COUNTRY" weightage="100" keywordseo="India">India</keyword> where a big chunk of the population still can’t access <keyword id="1977921" type="UNKNOWN" weightage="100" keywordseo="Modern-energy-sources">modern energy sources</keyword> and the overall growth of the country suffers due to such non-inclusion. The outlook is not exactly bright at this point as India ranks 69th among 124 <keyword id="6407494" type="UNKNOWN" weightage="100" keywordseo="countries">countries</keyword> in the recently released <keyword id="1970968" type="UNKNOWN" weightage="100" keywordseo="global-energy-architecture-performance-index">Global Energy Architecture Performance Index</keyword> (<keyword id="1977925" type="UNKNOWN" weightage="100" keywordseo="EAPI">EAPI</keyword>) Report 2014, prepared by the <keyword id="69007" type="ORGANIZATION" weightage="100" keywordseo="World-Economic-Forum">World Economic Forum</keyword> in collaboration with <keyword id="6370971" type="CITY" weightage="100" keywordseo="Accenture">Accenture</keyword>. 
 India, with an overall score of 0.48, has the second lowest <keyword id="1379968" type="UNKNOWN" weightage="100" keywordseo="energy-performance">energy performance</keyword> in the <keyword id="1977931" type="UNKNOWN" weightage="100" keywordseo="BRICS-cluster">BRICS cluster</keyword> that also includes <keyword id="6355226" type="COUNTRY" weightage="80" keywordseo="Brazil">Brazil</keyword>, <keyword id="6358826" type="COUNTRY" weightage="80" keywordseo="Russia">Russia</keyword>, <keyword id="1334" type="COUNTRY" weightage="100" keywordseo="China">China</keyword> and <keyword id="6355117" type="COUNTRY" weightage="80" keywordseo="South-Africa">South Africa</keyword>. Interestingly, China lies at the bottom among the <keyword id="175259" type="ORGANIZATION" weightage="100" keywordseo="Brics">BRICS</keyword> (85th with a score of 0.45), but other countries in this group are way ahead of India and its neighbour. Ranked 22nd, Brazil tops the BRICS group with a score of 0.64, extracting 50% more <keyword id="35050" type="CITY" weightage="100" keywordseo="gdp">GDP</keyword> per unit of energy use than the average of the other <keyword id="486040" type="UNKNOWN" weightage="100" keywordseo="BRICS-countries">BRICS countries</keyword>. It is followed by the Russian Federation (28th, with a score of 0.62) and South <keyword id="12925" type="ENTERTAINMENT" weightage="80" keywordseo="Africa">Africa</keyword> (54th, with a score of 0.54). 
 The top 10 performers are mostly EU and/or <keyword id="1977933" type="UNKNOWN" weightage="100" keywordseo="OECD-nations">OECD nations</keyword> – <keyword id="6356961" type="COUNTRY" weightage="100" keywordseo="Norway">Norway</keyword>, <keyword id="22501" type="COUNTRY" weightage="100" keywordseo="New-Zealand">New Zealand</keyword>, <keyword id="6354785" type="COUNTRY" weightage="100" keywordseo="France">France</keyword>, <keyword id="23050" type="COUNTRY" weightage="100" keywordseo="Sweden">Sweden</keyword>, <keyword id="103" type="COUNTRY" weightage="100" keywordseo="Switzerland">Switzerland</keyword>, <keyword id="49968" type="COUNTRY" weightage="100" keywordseo="Denmark">Denmark</keyword>, <keyword id="6363645" type="COUNTRY" weightage="100" keywordseo="Spain">Spain</keyword> and <keyword id="106735" type="COUNTRY" weightage="80" keywordseo="latvia">Latvia</keyword> – with the exception of <keyword id="15385" type="COUNTRY" weightage="80" keywordseo="Colombia">Colombia</keyword> (7th) and <keyword id="57870" type="COUNTRY" weightage="80" keywordseo="Costa-Rica">Costa Rica</keyword> (9th). The US came in 37th, followed by <keyword id="6355311" type="COUNTRY" weightage="80" keywordseo="Japan">Japan</keyword>. The regions covered in the report include <keyword id="1977935" type="UNKNOWN" weightage="100" keywordseo="EU28">EU28</keyword>, <keyword id="195393" type="COMPANY" weightage="100" keywordseo="MENA">MENA</keyword>, BRICS, <keyword id="6378080" type="COUNTRY" weightage="60" keywordseo="North-America">North America</keyword>, <keyword id="303353" type="COUNTRY" weightage="100" keywordseo="Sub-Saharan-Africa">Sub-Saharan Africa</keyword> and the <keyword id="5891" type="ORGANIZATION" weightage="100" keywordseo="ASEAN">ASEAN</keyword>. 
 
Why we need EAPI Before we consider why India is lagging behind the rest, it is important to understand the dimensions of the ‘<keyword id="1977936" type="UNKNOWN" weightage="100" keywordseo="Energy-triangle">energy triangle</keyword>’ and what it takes to achieve top-level energy performance. During the past three years, the World Economic Forum has been working on the <keyword id="1978006" type="UNKNOWN" weightage="100" keywordseo="New-Energy-Architecture">new energy architecture</keyword>, defined as the integrated physical system of <keyword id="689119" type="UNKNOWN" weightage="100" keywordseo="energy-sources">energy sources</keyword>, carriers and demand sectors. The ‘energy triangle’ frames the key objectives of the <keyword id="1977939" type="UNKNOWN" weightage="100" keywordseo="Energy-architecture">energy architecture</keyword> – the ability to provide secure, affordable and <keyword id="1977947" type="UNKNOWN" weightage="100" keywordseo="Environmentally-sustainable-energy-supply">environmentally sustainable energy supply</keyword>. Accordingly, the Global Index has used 18 indicators to assess 6 regions and 124 countries under three baskets – <keyword id="1977948" type="UNKNOWN" weightage="100" keywordseo="Economic-growth-and-development">economic growth and development</keyword>, <keyword id="585025" type="UNKNOWN" weightage="100" keywordseo="environmental-sustainability">environmental sustainability</keyword> and <keyword id="1714410" type="ORGANIZATION" weightage="100" keywordseo="Energy-access">energy access</keyword> &amp; security – while analysing the complex trade-offs and dependencies that affect the efforts of each country under review. 
 “Resource, wealth or <keyword id="352701" type="ORGANIZATION" weightage="100" keywordseo="Economic-Development">economic development</keyword> alone do not guarantee high performance on the Index,” said Roberto Bocca, senior director and head of energy industries at the World Economic Forum. “For an <keyword id="1977954" type="UNKNOWN" weightage="100" keywordseo="Effective-energy-system">effective energy system</keyword>, countries need to focus on all three sides of the energy triangle – environmental sustainability, security of supply and affordability,” he added. Undoubtedly a difficult task, if you look at the toppers or any other country, for that matter. No single country has got a top score of 1/1 for the overall Index (an average of the scores posted under the three heads) and no one has hit a ‘perfect 1’ either, under any of the three baskets. 
 
 
 
Four factors hindering India’s energy performance 
Low access: Let’s look at the grassroots first. Energy access across BRICS is high, with the exception of India and South Africa which continue to face <keyword id="1977958" type="UNKNOWN" weightage="100" keywordseo="Lower-electrification-rates">lower electrification rates</keyword> for rural and low-income groups. In fact, India is the lowest performer within the BRICS cluster (0.54/1), with only 75% accessing modern energy sources. It means around 293 million people go without those, compared to just 4 million in China. 
 However, there are longer-term solutions on the cards. Alongside a number of national and international initiatives, the government is currently running the Restructured Accelerated Power Development and Reform Programme or <keyword id="398803" type="UNKNOWN" weightage="100" keywordseo="R-APDRP">R-APDRP</keyword>, directing around $10 billion over the coming years for <keyword id="1977960" type="UNKNOWN" weightage="100" keywordseo="Grid-modernisation">grid modernisation</keyword>. India has also launched a <keyword id="856064" type="UNKNOWN" weightage="100" keywordseo="Remote-Village-Electrification">Remote Village Electrification</keyword> programme while the <keyword id="386624" type="ORGANIZATION" weightage="100" keywordseo="Ministry-of-New-and-Renewable-Energy">Ministry of New and Renewable Energy</keyword> is targeting the installed capacity from new <keyword id="430844" type="UNKNOWN" weightage="100" keywordseo="renewables">renewables</keyword> to reach 21,700 MW by 2017 (more on India’s <a href="http://www.businessinsider.in/Five-Moves-That-Will-Power-Indias-Green-Shift/articleshow/23463110.cms">green power</a> here). 
 
Increasing <keyword id="1977962" type="UNKNOWN" weightage="100" keywordseo="Reliance-on-energy-imports">reliance on energy imports</keyword>: Large-scale economic expansion across the country has triggered bigger <keyword id="6417014" type="UNKNOWN" weightage="100" keywordseo="energy-consumption">energy consumption</keyword> and a crippling dependence on imports – a major factor behind the ballooning trade and <keyword id="894126" type="UNKNOWN" weightage="100" keywordseo="current-account-deficits">current account deficits</keyword>. India is one of the biggest importers of crude oil and more than half of its $191 billion <keyword id="113688" type="UNKNOWN" weightage="100" keywordseo="trade-deficit">trade deficit</keyword> in FY2013 – $109 billion, to be precise – accounted for oil, with the country importing around 82% of its requirements, mostly from the <keyword id="138623" type="UNKNOWN" weightage="100" keywordseo="Gulf-countries">Gulf countries</keyword>. Overall, 28% of the country’s <keyword id="1977965" type="UNKNOWN" weightage="100" keywordseo="Net-energy-consumption">net energy consumption</keyword> is met through imports and among the BRICS, India has the <keyword id="1977966" type="UNKNOWN" weightage="100" keywordseo="Highest-spend-on-fuel-imports">highest spend on fuel imports</keyword> relative to GDP (10%). 
 It’s a kind of vicious cycle, to say the least, which is negatively impacting the <keyword id="6356076" type="UNKNOWN" weightage="100" keywordseo="indian-economy">Indian economy</keyword>. “The whole mess in the <keyword id="52599" type="TECHNOLOGY" weightage="100" keywordseo="CAD">CAD</keyword> is due to the imports of both coal and oil,” Vivek Pandit, senior director for energy at the Federation of Indian Chambers of Commerce and Industry (<keyword id="6355001" type="CITY" weightage="80" keywordseo="FICCI">FICCI</keyword>) told FT. Worried by the current account deficit, <keyword id="44528" type="ORGANIZATION" weightage="100" keywordseo="FDI">FDI</keyword> and <keyword id="68968" type="UNKNOWN" weightage="100" keywordseo="institutional-investors">institutional investors</keyword> gradually started withdrawing their support since March this year. This fuelled a substantial weakening of the <keyword id="6355302" type="ORGANIZATION" weightage="100" keywordseo="Rupee">Rupee</keyword> and resulted in a drawdown of <keyword id="6368276" type="COMPANY" weightage="80" keywordseo="Foreign-exchange">foreign exchange</keyword> to the tune of $12.8 billion. According to a PwC report, the drawdown could have been avoided, had India produced 17 million tonnes more oil than its current domestic production. 
 Worse still, <keyword id="1977973" type="UNKNOWN" weightage="100" keywordseo="Indias-oil-import-dependency">India’s oil import dependency</keyword> is forecast to grow another 10 percentage points to exceed 90% by 2031. While increasing domestic exploration will help to a certain extent, India must try and curb the <keyword id="1977977" type="UNKNOWN" weightage="100" keywordseo="Oil-bills">oil bills</keyword> further by seeking new suppliers and buying more stake into African and other <keyword id="1977979" type="UNKNOWN" weightage="100" keywordseo="Non-Gulf-oil-and-gas-assets">non-Gulf oil and gas assets</keyword>. 
 This part of the strategy is slowly taking shape as <keyword id="81864" type="CITY" weightage="100" keywordseo="ONGC-Videsh">ONGC Videsh</keyword>, the overseas investment arm of <keyword id="55282" type="ORGANIZATION" weightage="100" keywordseo="India-Government">India government</keyword>’s flagship oil and gas explorer <keyword id="118729" type="COMPANY" weightage="100" keywordseo="Oil-Natural-Gas-Corp">Oil &amp; Natural Gas Corp</keyword>, has been pushing hard to build up a <keyword id="1977984" type="UNKNOWN" weightage="100" keywordseo="Diversified-portfolio-of-foreign-assets">diversified portfolio of foreign assets</keyword> to minimise the country’s dependency on the Middle East. <keyword id="6354737" type="CITY" weightage="100" keywordseo="ONGC">ONGC</keyword> Videsh has recently signed two multi-billion-dollar deals to buy into offshore natural gas assets in <keyword id="6372754" type="COUNTRY" weightage="80" keywordseo="Mozambique">Mozambique</keyword>. It has a significant presence in <keyword id="48890" type="COUNTRY" weightage="80" keywordseo="Latin-America">Latin America</keyword> and is also looking for exploration assets in <keyword id="6356970" type="COUNTRY" weightage="100" keywordseo="Myanmar">Myanmar</keyword>, <keyword id="6354759" type="COUNTRY" weightage="100" keywordseo="Bangladesh">Bangladesh</keyword>, <keyword id="30174" type="COUNTRY" weightage="100" keywordseo="Lebanon">Lebanon</keyword> and <keyword id="6355478" type="COUNTRY" weightage="80" keywordseo="Australia">Australia</keyword>. 
 
Prevalence of <keyword id="1896941" type="UNKNOWN" weightage="100" keywordseo="energy-subsidies">energy subsidies</keyword>: Another factor that is dragging India down by increasing oil demand and widening the budget deficit. Both India and Russia are the lowest performers for the indicator on <keyword id="1977989" type="UNKNOWN" weightage="100" keywordseo="Liquid-fuel-subsidies">liquid fuel subsidies</keyword>. India’s subsidies for diesel put it in the lower quartile globally for this indicator even as the country is trying to improve <keyword id="1977991" type="UNKNOWN" weightage="100" keywordseo="Energy-affordability">energy affordability</keyword> and access for lower-income groups. 
 
Coal-dependence hurts: At present, coal dominates the country’s <keyword id="1798751" type="UNKNOWN" weightage="100" keywordseo="energy-mix">energy mix</keyword> with a robust 53% share in <keyword id="1977995" type="UNKNOWN" weightage="100" keywordseo="Primary-energy-consumption">primary energy consumption</keyword>, affecting India’s score in terms of environmental sustainability. The country has scored 0.41/1, underlining the challenge it faces in diversifying the energy mix beyond <keyword id="181402" type="UNKNOWN" weightage="100" keywordseo="fossil-fuels">fossil fuels</keyword>. Although energy trade can have positive impacts here, it can also pose economic and <keyword id="1977997" type="UNKNOWN" weightage="100" keywordseo="Energy-security-risks">energy security risks</keyword>, especially as we are dependent only on a few trading partners. 
 Interestingly, 41% of the <keyword id="1200645" type="UNKNOWN" weightage="100" keywordseo="energy-supply">energy supply</keyword> in the top 10 countries comes from low-carbon energy sources, compared to a global average of 28%. India, too, is rolling out low-carbon power generation through plans to increase <keyword id="43870" type="UNKNOWN" weightage="100" keywordseo="nuclear-capacity">nuclear capacity</keyword> from the current 4.4 GW to 5.3 GW by 2016. 
 
The bottom line “Our analysis concludes that there is no single way forward; each country must work with its own resources and constraints, making difficult choices and trade-offs,” said Arthur Hanna, Managing Director, Energy Industry, Accenture, and a Member of the World Economic Forum’s Global Agenda Council on New Energy Architecture. “The Index helps nations take stock of their energy transition challenges and address key barriers to success, such as market distorting subsidies, continued uncertainty around energy policy and funding for research and development of <keyword id="1978009" type="UNKNOWN" weightage="100" keywordseo="New-energy-sources">new energy sources</keyword> and technologies.” 
 
Keeping that in mind, can India cope with the transition and morph its energy policies accordingly? 
 
Top Image: Wikipedia 
Data chart: World Economic Forum

Energy
Performance: Is India
Losing Out On Power Play?

Bengaluru- and California-based tech firm <keyword id="3125256" type="General" weightage="20" keywordseo="bidgely" source="Orion">Bidgely</keyword> on Thursday said it has raised $26 million (about ₹190.8 crore) in funding led by Moore Strategic Ventures. The round also saw participation from Accurant International as well as existing investors like Future Energy Ventures, Georgian and Constellation Technology Ventures, a statement said. The SaaS (Software-as-a-service) startup had raised ₹15 crore from IvyCap Ventures in March this year. The US-headquartered company has raised a total of $77 million in funding to date. The company offers artificial intelligence (AI)-based solutions to electricity distribution companies to enable them to serve their customers better as well as modernise their grid operations. "As India's extensive smart meter penetration continues, this new investment enables Bidgely to provide tailored solutions that support the country's biggest utility needs: electricity theft prevention, grid stability and electric vehicle (EV) accommodation," the statement said. Working with a leading private Indian electricity distribution company (Discom), Bidgely has demonstrated the acute ability to detect non-technical losses through disaggregated smart meter data, it added. It, however, did not disclose the name of the customer. Bidgely is targeting multiple use cases, including AI-based short-term load forecasting, analytics-based customer indexing and asset predictive maintenance to solve multiple challenges for Discoms, the statement said. "Bidgely's Silicon Valley roots and strong engineering arm in India play not only to our strength of providing AI technology to established markets like North America and Europe but also to our ability to address key issues in emerging markets," Bidgely CEO Abhay Gupta said. He added that India's energy landscape, specifically, is evolving rapidly, and the company's work around theft detection and grid stabilisation goes to the heart of problems that cost the utility industry billions of dollars a year. Bidgely pioneered load disaggregation, holds 17 patents for its technology and partners with nearly 40 global utilities and energy retailers to glean valuable customer energy insights, using data from smart meters already installed in the home. It processes more than two billion energy data points a day. SEE ALSO <a href="https://www.businessinsider.in/business/telecom/news/airtel-vodafone-idea-and-jio-welcome-telecom-relief-package-but-analysts-are-divided-on-whether-it-is-enough/articleshow/86252002.cms">Airtel, Vodafone Idea and Jio welcome telecom relief package, but analysts are divided on whether it is enough</a> <a href="https://www.businessinsider.in/stock-market/news/telecom-auto-tata-group-and-other-top-stocks-to-watch-out-for-on-september-16/articleshow/86250470.cms">Airtel, Vodafone Idea, Tata group and other top stocks to watch out for on September 16</a> <a href="https://www.businessinsider.in/business/telecom/news/telecom-relief-package-airtel-vodafone-idea-get-four-year-moratorium-on-agr-dues/articleshow/86227218.cms">Indian government dials M for moratorium – Airtel, Vodafone Idea get a four-year relief on AGR dues</a>

Investors' interest in Indian SaaS continues as Bidgely bags $26 million from US-based firms

New Delhi, Jan 22 () Sterlite Power on Wednesday said it has inked an exclusive agreement with the US-based Smart Wires to bring SmartValve to Indian market which will enable resourceful grid management.
 This cutting-edge technology is an intelligent 'valve' that will allow utilities to optimally utilise its existing transmission capacity and enhance grid flexibility, a company statement said.
 Commenting on the technology agreement, Sterlite Power Managing Director Pratik Agarwal said, "An environmentally sustainable electricity system is the anchor for a modern society. We are growing at an incredible pace and need to look for innovative solutions for rising grid outages due to climate change, lack of land to build new lines and integration of renewable energy." 
 "Modernising the grid to make it 'smarter' through the use of cutting edge technology is going to disrupt the landscape and technology is going to be the game changer in this field," he added.
 Power networks in India have been facing major transmission congestion challenges due to exponential growth in demand for power and rapid urbanisation, the statement said.
 Congestion is often seen in sub-transmission lines where it is a challenge to connect renewable power. In this context, alleviating congestion and enhancing grid flexibility becomes critical, it said. 
 SmartValve increases power transfer capability by making better use of existing network. As generation and demand changes, circuits can become unequally loaded. Some lines reach their maximum capacity while others are well below their limits.
 SmartValve technology can unlock this system capacity by more evenly balancing power flows and therefore provides a quicker-to-install and lower-impact alternative to building new lines, it added.
 It is quick to install and easy to scale or redeploy, providing valuable flexibility given today's rapidly changing electric system.
 Manish Agarwal, CEO, Solutions, Sterlite Power, said, "This technology will enable better power flow, grid stability and enhanced power transfer capacity in existing infrastructure without the need for investment in new lines."
 Smart Wires CEO Gregg Rotenberg said, "Given the pace and scale of renewable energy growth in India, our solutions can provide immense value to the market."
 Smart Wires is a leading player in modular power flow control. It has successfully deployed this state-of-the-art technology globally across the US, Europe and Australia, the statement said.
 Based in California, with offices in Ireland and Australia and a global workforce, Smart Wires works with utilities around the world to address the unique challenges they face. KKS RVK

Sterlite Power inks pact with US-based Smart Wires to bring SmartValve to Indian utilities

New Delhi, The <keyword id="50190" type="COMPANY" weightage="20" keywordseo="Asian-Development-Bank">Asian Development Bank</keyword> (ADB) and the Central government have signed a $100 million <keyword id="6360217" type="UNKNOWN" weightage="20" keywordseo="loan">loan</keyword> to modernise and upgrade the power distribution system to enhance the quality and reliability of electricity supply in Bengaluru. The signatories to the Bengaluru Smart Energy Efficient Power Distribution Project are C. S. Mohapatra, Additional Secretary, <keyword id="144110" type="COMPANY" weightage="20" keywordseo="Department-of-Economic-Affairs">Department of Economic Affairs</keyword> in the <keyword id="156153" type="COMPANY" weightage="20" keywordseo="Ministry-of-Finance">Ministry of Finance</keyword>, who signed on behalf of the <keyword id="6377129" type="COMPANY" weightage="20" keywordseo="government-of-india">Government of India</keyword>, and Hoe Yun Jeong, Official in charge of ADB's India Resident Mission, who signed on behalf of ADB. Beside, the $100 million sovereign loan, ADB would provide a $90 million without sovereign guarantee loan for the project to <keyword id="1551130" type="COMPANY" weightage="20" keywordseo="Bangalore-Electricity-Supply-Company-Limited">Bangalore Electricity Supply Company Limited</keyword> (BESCOM), one of five state-owned distribution utilities in Karnataka. After signing the loan agreement, C. S. Mohapatra said conversion of <keyword id="10541132" type="UNKNOWN" weightage="20" keywordseo="overhead-distribution-lines">overhead distribution lines</keyword> into underground cables would help build an energy-efficient distribution network, reduce technical and commercial losses and minimise electricity outage resulting from natural hazards such as cyclones and external disturbances to overhead lines. ADB's Hoe Yun Jeong said the project demonstrates an innovative financing arrangement, the first of its kind for ADB, by combining sovereign and non-sovereign loans for a state government-owned enterprise. This is intended to significantly reduce the sovereign exposure and help BESCOM move towards a market-based approach for raising funds for capital expenditure. In parallel to underground distribution cables, more than 2,800 km of fibre optical cables would be installed to strengthen the communication network. Moving about 7,200 km of distribution lines underground would help reduce technical and commercial losses by nearly 30 per cent. The fibre optical cables would be used for smart metering systems, distribution automation system (DAS) in the distribution grid, and other communication networks. The project would install 1,700 automated ring main units adapted with a DAS to monitor and control the distribution line switchgears from the control centre. SEE ALSO: <a href="https://www.businessinsider.in/international/news/questions-arise-about-jack-ma-whereabouts-as-alibaba-faces-scrutiny-from-the-chinese-government/articleshow/80090457.cms">Where is Jack Ma? Questions arise about the billionaire’s whereabouts as Alibaba faces scrutiny from the Chinese government</a> <a href="https://www.businessinsider.in/stock-market/news/big-money-chasing-bitcoin-takes-the-cryptocurrency-to-a-new-record-high-of-34000/articleshow/80090730.cms">Big money chasing Bitcoin takes the cryptocurrency to a new record high of $34,000</a> <a href="https://www.businessinsider.in/india/news/pongal-plus-election-dole-cash-rice-sugar-cashews-and-clothes-for-210-million-people-in-tamil-nadu/articleshow/80091546.cms">Pongal plus election dole: Cash, rice, sugar, cashews and clothes for 210 million people in Tamil Nadu</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-stock-surge-the-early-trading-hours-today-after-the-company-reported-a-21-increase-in-total-vehicle-sales/articleshow/80092876.cms">Tata Motors’ rallies over 3% as it outshines Mahindra and Maruti in December sales</a>

ADB signs $100 million loan with government to boost power distribution system in Bengaluru

New Delhi, Jun 1 () Tata Power on Monday said it has completed the acquisition of 51 per cent stake in TP Central Odisha Distribution Ltd (TPCODL) for Rs 178.5 crore. TPCODL carries out the business of Central Electricity Supply Utility of Odisha (CESU). The acquisition paves the way for taking over the power supply business of five cities in Odisha by Tata Power. "Tata Power has today acquired 51 per cent equity stake in TPCODL at a consideration of Rs 178.5 crore," a Tata Power statement said. According to the statement, GRIDCO will hold the rest 49 per cent stake in TPCODL. TPCODL was incorporated on April 6, 2020 as a wholly-owned subsidiary of GRIDCO to carry out the business of CESU. Tata Power said it has taken over the management of CESU, after receiving the Letter of Intent from the Odisha Electricity Regulatory Commission (OERC) for the distribution and retail supply of electricity in Odisha's five circles consisting of Bhubaneswar, Cuttack, Puri, Paradeep and Dhenkanal. As per an order issued by OERC on May 28, 2020, Tata Power will hold 51 per cent equity with management control and state-owned GRIDCO will have the remaining 49 per cent equity stake in the company. Tata Power has committed to improving and modernising the distribution system in the five circles. The priority of the company is to improve reliability, reduce AT&amp;C losses and offer excellent customer service. As per the agreement, the company will retain all the existing employees of CESU and will govern them by their existing policy structure. Tata Power will provide better opportunities and facilities to the employees to update their knowledge and skills along with an exposure to best practices and cutting edge technologies as part of the changed management in CESU. "Our tie-up with CESU is a huge development for Tata Power. We are committed to provide reliable, affordable and quality power supply along with superior customer service, backed by innovative technology. The success of our Delhi, Mumbai and Ajmer distribution businesses are testament to this fact," Tata Power CEO &amp; MD Praveer Sinha said. Sanjay Banga, President - T &amp;D, Tata Power said the company endeavours to bring about a positive transformation in Odisha by deploying smart grid technologies to supply reliable and quality power. "Our customer-centric approach aims to enhance all aspects of customer services with smooth and efficient power distribution operations," he added. KKS KKS ANU ANU

Tata Power completes 51 pc stake buy in Odisha's TPCODL for Rs 179 cr

<ul><li>The earth's <keyword id="6375923" type="UNKNOWN" weightage="20" keywordseo="climate">climate</keyword> has started changing drastically, primarily because of human activity. </li><li><keyword id="6361649" type="UNKNOWN" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword>, an American financial services major, listed down nine case studies which teach the world how it could be done. </li></ul>The earth's climate has started changing drastically, primarily because of human activity. The latest example is the Amazon forest fire that ate up 222% of its plantation in August alone, and the damage is still going on. And it is upto humans to right the wrongs. Goldman Sachs, an American financial services major, listed down nine case studies which teach the world how it could be done. Lesson 1: Climate-proofing the future <div type="image" title="architecture-2594080__340" tempid="60522" msid="71094411" hostid="261"></div>

 Cities and urban areas account for 55% of the world's population. A possible approach can be creating green spaces and infrastructure -- just like Copenhagen adapted in their municipality planning. Such green spaces help minimise floods and damage. Lesson 2: Forest and wetlands around the city <div type="image" title="photo-1562442265-a67dfaa0d4a6." msid="71094506" hostid="261"></div>

 Beijing, which was once among the world's most polluted cities, is all set to drop out of the list of top 100 polluted cities also. All this because of sustainable urban planning. In 2017, China introduced a major development plan that included a park system. The idea was to bring “forest around the city, wetland into the city", according to Goldman Sach's case study. Lesson 3: Making room for rivers <div type="image" title="coastal-3595700__340" msid="71094507" hostid="261"></div>

 Rapid urbanisation is eating up natural rivers surrounding cities. In 2007, the Netherlands came up with a plan to make "Room for the river." The project worth $2.6 billion included changing agricultural land into floodplains. Lesson 4: Better drains and minimum solid waste <div type="image" title="photo-1516992654410-9309d4587e94." msid="71094508" hostid="261"></div>

 Manila faced erratic flood and heavy rainfall for years which lead to the evacuation of thousands of people. The Philippines government took a step to strengthen its flood management system by modernising drainage and minimizing solid waste. The government wanted to benefit as many as 1.7 million people across 56 flood-prone areas. Lesson 5: Investing in modern grid technology <div type="image" title="power-1549122__340" tempid="60589" msid="71094562" hostid="261"></div>

 Extreme weather and severe storm can lead to power outages. Between 2003 and 2012, the US Department of Energy estimate 680 power outages because of weather, affecting 50,000 customers. The US government then infused $4.5 billion in modern grid technology as a measure to generate energy. Lesson 6: Building floodwalls and armored levee <div type="image" title="high-water-141525__340" tempid="60609" msid="71094563" hostid="261"></div>

 The New York City suffered a $70 billion damage because of Hurricane Sandy in 2012 that led the government to develop more and more projects that defended the city. Lesson 7: Municipal bonds to fund green infra <div type="image" title="architecture-2562782_960_720" msid="71094606" hostid="261"></div>

 Municipal bonds are loans from investors to the government. Many municipalities in the US issued bonds to develop major infrastructure. Amongst them is Miami's Miami Forever Bond programme that aims to create climate-related infrastructure worth $200 million. Another example is the $25 million “environmental impact bond” issued by Washington in 2016 to finance green infrastructure. Lesson 8: Elevated roads that can connect cities <div type="image" title="photo-1465926133144-dfb0c3b0b4dd." msid="71094607" hostid="261"></div>

 Existing transportation are affected the most because of storms and floods, creating the need for new toll roads. Goldman Sach suggests creating roads with higher elevation that can connect two cities and covers several hundred miles of land. Lesson 9: Cities that can survive rising sea levels <div type="image" title="photo-1561702469-c4239ced3f47." msid="71094608" hostid="261"></div>

 Using the "landlord" model, a municipality can develop the port through public-private partnership and make the city more resilient to rising sea levels, said the report. See also: <div type="Article" hostid="261" msid="71044026" title="Amazon forest has lost 222% of its vegetation in a year" mstype="2" mssubtype="0"></div>

Goldman Sachs tells us nine lessons that the world can learn about climate change

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0FCIJO6B8EJ&amp;SMLS=1&amp;RW=1440&amp;RH=716#/SearchResult&amp;VBID=2C0FCIJO6BXYJ&amp;SMLS=1&amp;RW=1440&amp;RH=716&amp;POPUPPN=7&amp;POPUPIID=2C0FQE374Q294">REUTERS/Peter Nicholls</a>Delivery vans are lined up prior to dispatch at the Ocado CFC (Customer Fulfilment Centre) in Andover, Britain May 1, 2018. Picture taken May 1, 2018.</div></div></div><ul><li>Kroger signs exclusive US deal with warehouse technology company Ocado.</li><li>Kroger is also buying a 5% stake in Ocado for £183 million.</li><li>Kroger is hoping to build three next-generation warehouses with Ocado this year and aiming for 20 new warehouses over the next three years.</li><li>Ocado CEO calls the partnership "transformational," although the exact financial impact isn't clear.</li><li><a href="http://markets.businessinsider.com/stocks/ocado_group-stock">Ocado shares jumped nearly 50% on the deal.</a></li></ul> LONDON - US grocery giant Kroger has signed an exclusive deal with Ocado, the British online grocer that makes tech savvy supply chain and fulfilment technology.Ocado <a href="https://www.investegate.co.uk/ocado-group-plc--ocdo-/rns/statement-regarding-new-international-partnership/201805170700073530O/">said in a statement on Thursday</a> that it has signed a deal allowing Kroger to use its technology exclusively in the US. Kroger will pay undisclosed monthly exclusivity and consultancy fees, which will offset the total cost of the deal that has yet to be agreed. Kroger is buying a 5% stake in Ocado for £183 million under the terms of the deal.UK-headquartered Ocado was founded by former Goldman Sachs employees in 2000 as an online-only supermarket, but has in recent years sought to position itself as a technology provider to other supermarkets. The company's proprietary warehouse technology <a href="http://www.businessinsider.com/robotic-grocery-store-ocado-2017-3">uses robotics and automation to drive high levels of efficiency when packing and shipping orders.</a>Kroger will use Ocado's "Smart Platform" technology to develop three new automated warehouses across the United States this year that will use robots to fulfil orders. The pair is targeting 20 new warehouses across the US over the next 3 years.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0FCIJO6STN3&amp;SMLS=1&amp;RW=1440&amp;RH=716#/SearchResult&amp;VBID=2C0FCIJO6STN3&amp;SMLS=1&amp;RW=1440&amp;RH=716&amp;POPUPPN=8&amp;POPUPIID=2C0FQE374QC38">REUTERS/Peter Nicholls</a>"Bots" are seen on the grid of the "smart platform" at the Ocado CFC (Customer Fulfilment Centre) in Andover, Britain May 1, 2018. Picture taken May 1, 2018.</div></div></div>Ocado CEO Tim Steiner said in a statement: "The opportunity to partner with Kroger to transform the way in which US customers buy groceries represents a huge opportunity to redefine the grocery experience of Kroger's customers and create value for the stakeholders of both Kroger and Ocado."As we work through the terms of the services agreement with Kroger in the coming months, we will be preparing the business for a transformative relationship which will reshape the food retailing industry in the US in the years to come."<a href="http://markets.businessinsider.com/stocks/ocado_group-stock">Ocado shares</a>, which are listed on the FTSE 250 index in London, jumped by almost 50% on news of the deal:<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://markets.businessinsider.com/stocks/ocado_group-stock">Markets Insider</a></div></div></div>Kroger CEO and chairman Rodney McMullen said: "Our partnership with Ocado will speed up our efforts to redefine the food and grocery customer experience - creating value for customers and shareholders alike."Kroger is the second largest grocery business in the US, with 2,800 stores and sales of $122 billion last year. Competition from Amazon and <a href="http://www.businessinsider.com/aldi-and-lidl-beat-kroger-walmart-low-prices-2017-9">discounters such as Lidl</a> saw its share price fall by over 40% last year to a four-year low and Kroger announced a <a href="http://www.businessinsider.com/kroger-announces-new-e-commerce-omnichannel-initiative-2017-10">$9 billion strategy called "Restock Kroger" last year aimed at modernising the company with technology.</a>Brittain Ladd, a former Amazon executive and supply chain expert, was hired by Kroger last year to evaluate the grocer's digital and supply chain strategies.Ladd told Business Insider this week: "In the United States, the vast majority of grocery retailers all leverage traditional distribution centres and fulfilment centres for grocery and Kroger grew by acquisition. Kroger has 42 distribution centres but they're older, they don't have an optimised supply chain."So my recommendation to them was to meet with Ocado, meet with TakeOff Technologies and then conduct a network optimisation study in the United States to determine what's the best way to leverage either Ocado's technology, TakeOff Technologies systems or both."TakeOff Technologies is another online grocery business based in the US.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Hollis Johnson</div></div></div>Ladd said implementing Ocado's technology would be "a way to greatly reduce their supply chain costs" and would "allow Kroger to probably close nearly half of their older distribution centres.""They are just years ahead of everybody else," Ladd said of Ocado. "I don't think people realise how advanced Ocado is when compared to distribution methods used in the United States."Ladd said he also advised Kroger to evaluate acquiring Ocado for around $2 billion, although Thursday's deal suggests Kroger is not pursuing this advice.The Kroger deal is the latest in a string of international tie-ups for Ocado in recent months. Ocado announced a partnership with Swedish retailer ICA at the start of the month and a deal with Canada's Soebys in January. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/nobel-prize-winning-economist-oliver-hart-what-milton-friedman-got-wrong-2018-5">A Nobel Prize-winning economist explains what Milton Friedman got wrong</a></h3> <div> </div> </div>

Kroger signed a 'transformational' deal with UK online grocer Ocado - and Ocado's shares are sky rocketing

<keyword id="71" type="POSITION" weightage="80" keywordseo="Prime-Minister">Prime Minister</keyword> <keyword id="6354477" type="PERSON" weightage="80" keywordseo="Narendra-Modi">Narendra Modi</keyword> on Monday said that his visit of <keyword id="87" type="COUNTRY" weightage="80" keywordseo="Germany">Germany</keyword> is aimed at realising the 'immense' potential that exists between New Delhi and <keyword id="3731" type="COMPANY" weightage="80" keywordseo="berlin">Berlin</keyword>, inviting companies of the European nation to <keyword id="47916" type="UNKNOWN" weightage="80" keywordseo="invest">invest</keyword> and manufacture in India.
 "My visit to Germany and India's participation at the <keyword id="194013" type="COMPANY" weightage="80" keywordseo="Hannover">Hannover</keyword> Messe as a partner country is aimed at realising the immense possibilities that exist between us. In my discussions with <keyword id="92" type="POSITION" weightage="80" keywordseo="Chancellor">Chancellor</keyword> <keyword id="6419185" type="COMPANY" weightage="80" keywordseo="Merkel">Merkel</keyword> and with captains of German industry, I intend to share our sense of optimism and confidence in our future plans. I will also listen carefully to learn what more we can do to address concerns of German entrepreneurs with regard to investment and manufacturing in India," the Prime Minister wrote in an op-ed for a German newspaper, Frankfurter Allgemeine Zeitung.

	Terming Germany as India's 'preferred partner' in skill development, Prime Minister Modi elaborated on the sectors in which the two nations can collaborate.

	"We see Germany as our preferred partner in developing skills of young Indians. We also want to learn from Germany's path-breaking experiences in renewable energy. We wish to replicate your success in solar roof-top projects and off-grid solar and wind power solutions, as well as your expertise in grid integration and management. Our smart city project can utilize your technologies to achieve water, waste and urban development objectives. We admire Germany's achievements in the application of technology solutions to meet environmental challenges," the Prime Minister wrote.

	"You are also our natural ally in my government's 'Clean India' initiative. We also want to benefit from Germany's experience in cleaning the River Ganga. We invite your transport companies, including your railways, to assist us in the modernisation of our transport networks. Your logistics and infrastructure companies can contribute to ongoing development of industrial corridors in India," he added.
 Quoting <keyword id="6355532" type="PERSON" weightage="80" keywordseo="Mahatma-Gandhi">Mahatma Gandhi</keyword>, Prime Minister Modi referred to poverty as 'the worst form of violence', adding that man's progress in the 21st century will depend upon 'cooperation and collaboration'.

	"I visualize India as a key engine of global growth. Our democratic principles and practices are guarantors of stability. We have a free media and an independent judiciary that allows all opinions to be aired without fear. We believe in 'rahein saath badhe saath' (stay together-grow together). There is no other way forward," he wrote.
 "Mankind's progress in this century depends on cooperation and collaboration. Conflict is unthinkable. So is poverty which <keyword id="6356181" type="PERSON" weightage="80" keywordseo="Gandhi">Gandhi</keyword> called the worst form of violence. If we can take all Indians together into a better socio-economic future, I believe that the world we share will be a <keyword id="808955" type="COMPANY" weightage="80" keywordseo="better-place">better place</keyword> for all," he added.

	Prime Minister Modi, currently in Germany for the second leg of his three-nation tour, inaugurated the Hannover Messe on Sunday and vowed to remove unnecessary regulations and procedures to simplify the process of foreign investment in India, as well as to make it easier for other countries to initiate business deals.
 He also attended a round table conference with German <keyword id="5645" type="POSITION" weightage="80" keywordseo="CEO">CEO</keyword>s, with Voith CEO Dr.Hubert Lienhard and <keyword id="211583" type="COMPANY" weightage="80" keywordseo="Bombardier-Transportation">Bombardier Transportation</keyword> CEO <keyword id="991297" type="PERSON" weightage="80" keywordseo="Lutz-Bertling">Lutz Bertling</keyword> among those present at the meeting.
 The Prime Minister arrived in Hannover after concluding a successful visit to <keyword id="6354785" type="COUNTRY" weightage="80" keywordseo="France">France</keyword>. He will depart for the final leg of his three-nation, nine-day tour on April 14, flying to Ottawa. (ANI)

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