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New Delhi, Country's largest power producer NTPC proposes to forge a <keyword id="6373972" type="UNKNOWN" weightage="20" keywordseo="Joint-venture">joint venture</keyword> with government's strategic investment fund NIIF to set up an <keyword id="2584560" type="PERSON" weightage="20" keywordseo="Infrastructure-Investment-Trust">infrastructure investment trust</keyword> (InvIT). The proposed InvIT will help NTPC to monetise some of its <keyword id="10461945" type="UNKNOWN" weightage="20" keywordseo="operational-renewable-energy-projects">operational renewable energy projects</keyword>. Funds raised from such exercise would be used by the power producer to invest in <keyword id="10461946" type="UNKNOWN" weightage="20" keywordseo="additional-renewable-capacity">additional renewable capacity</keyword>. As per initial plan, NTPC would put the entire 1 GW of operational renewable assets and the 2 GW of RE projects in the pipeline under the trust. This will help to raise capital for expansion of renewable capacity. The power producer is also looking to expand the scope of its partnership with NIIF to foray in the power distribution business where it is bidding for privatisation of Union Territory discoms. NTPC plans to generate 25% of its power capacity from renewable sources by 2030, which will be equivalent of 32 GW of power capacity and require an investment of ₹1.60 lakh crore. InvIT route would be ideal to unlock the value of existing assets for making future investments in green projects. With a total installed capacity of 62,110 MW, <keyword id="347182" type="COMPANY" weightage="20" keywordseo="NTPC-Group">NTPC Group</keyword> has 70 power stations comprising 24 coal-based units, seven combined cycle gas/liquid fuel stations, one hydro, 13 renewables, along with 25 subsidiary and joint venture entities. SEE ALSO: <a href="https://www.businessinsider.in/business/news/ikea-india-cfo-says-she-still-has-3500-crore-to-be-spent-in-india-the-pandemic-has-changed-targets-but-not-the-investment-plan/articleshow/79790938.cms">INTERVIEW: Ikea CFO says she still has ₹3,500 crore to be spent in India⁠— the pandemic has changed targets but not the investment plan</a> <a href="https://www.businessinsider.in/science/health/news/india-will-produce-300-million-doses-of-the-russian-sputnik-v-covid-19-vaccine-next-year/articleshow/79795341.cms">India will produce 300 million doses of the Russian Sputnik V COVID-19 vaccine next year</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-mrs-bectors-food-specialities-ipo-allotment-status-online/articleshow/79808672.cms">Mrs Bectors Food Specialities IPO allotment: Here’s how to check share allotment status</a>

NTPC looks at KV with NIIF for renewable infrastructure investment trust

<ul><li><keyword id="752699" type="PERSON" weightage="60" keywordseo="energy-demand">Energy demand</keyword> could plunge 6% this year, the largest in 70 years in percentage terms and the largest ever in absolute terms, according to a <a href="https://www.iea.org/news/global-energy-demand-to-plunge-this-year-as-a-result-of-the-biggest-shock-since-the-second-world-war">Thursday report from the International Energy Agency.</a></li><li>The IEA's forecast would be more than seven times larger than the impact of the 2008 financial crisis on global <keyword id="6357014" type="ORGANIZATION" weightage="60" keywordseo="energy">energy</keyword> demand.</li><li>"Amid today's unparalleled health and economic crises, the plunge in demand for nearly all major fuels is staggering, especially for <keyword id="6356966" type="UNKNOWN" weightage="60" keywordseo="coal">coal</keyword>, <a href="https://markets.businessinsider.com/commodities/news/oil-price-rises-signs-falling-storage-demand-offset-iea-forecast-2020-4-1029149505">oil and gas,"</a> said Fatih Birol, the IEA executive director. </li><li>"Only <keyword id="430844" type="PERSON" weightage="60" keywordseo="renewables">renewables</keyword> are holding up during the previously unheard-of slump in electricity use," he said. </li><li><a href="https://www.businessinsider.com/">Read more on Business Insider</a>.</li></ul>The coronavirus pandemic is the biggest shock the energy sector has seen since the second world war, and it could have a devastating impact on demand, according to the International Energy Agency. Energy demand could plunge 6% this year, the largest in 70 years in percentage terms and the largest ever in absolute terms, <a href="https://www.iea.org/news/global-energy-demand-to-plunge-this-year-as-a-result-of-the-biggest-shock-since-the-second-world-war">according to a Thursday report from the agency.</a> The IEA's forecast would be more than seven times larger than the impact of the 2008 financial crisis on global energy demand.In absolute terms, the decline is equivalent to losing the entire energy demand of India, the world's third-largest energy consumer."This is a historic shock to the entire energy world. Amid today's unparalleled health and economic crises, the plunge in demand for nearly all major fuels is staggering, especially for coal, <a href="https://markets.businessinsider.com/commodities/news/oil-price-rises-signs-falling-storage-demand-offset-iea-forecast-2020-4-1029149505">oil and gas</a>. Only renewables are holding up during the previously unheard-of slump in electricity use," said Fatih Birol, the IEA executive director."It is still too early to determine the longer-term impacts, but the energy industry that emerges from this crisis will be significantly different from the one that came before," he said. <h3>A historic hit to demand</h3>The IEA's forecast is based on the assumption that the economic recovery from lockdowns to curb the spread of the disease will be slow, even as some states and countries begin to reopen parts of the economy. A swifter recovery could limit the decline in energy demand to 3.8%, while a possible second wave of COVID-19 or a slower rebound could mean a fall of more than 6%. It's expected that almost <a href="https://markets.businessinsider.com/commodities/news/oil-price-falls-iea-projects-record-slump-global-demand-coronavirus-2020-4-1029094158">every part of the energy sector will be hit by the pandemic</a>, according to the report. In the first quarter of 2020, energy demand fell 3.8% on the year, erasing all growth from 2019. Electricity demand is set to fall 5% in 2020, the largest slump since the Great Depression in the 1930s. Coal is expected to decline 8% this year, the most since World War ll. Even natural gas demand is slated to fall 5% in 2020 after a decade of uninterrupted growth. Read more: <a href="https://www.businessinsider.com/tech-stocks-to-buy-semiconductor-picks-alger-ceo-dan-chung-2020-4">An investment chief who oversees $29 billion explains why he's bullish on a niche industry that's 'like the red blood cell of tech' — and shares 2 stocks he's buying</a><h3>Renewables will still see growth</h3>The only energy source that is expected to grow in 2020 is renewables, according to the report. "Demand reductions have lifted the share of renewables in the electricity supply, as their output is largely unaffected by demand," the report said. It's the part of the energy sector that is most resilient to the COVID-19 crisis, according to the report. At the same time, carbon emissions are set to have a record annual decline of almost 8%, according to the IEA. "Resulting from premature deaths and economic trauma around the world, the historic decline in global emissions is absolutely nothing to cheer," Birol said. "And if the aftermath of the 2008 financial crisis is anything to go by, we are likely to soon see a sharp rebound in emissions as economic conditions improve."He continued: "But governments can learn from that experience by putting clean energy technologies – renewables, efficiency, batteries, hydrogen and carbon capture – at the heart of their plans for economic recovery. Investing in those areas can create jobs, make economies more competitive and steer the world towards a more resilient and cleaner energy future."Read the original article on <a href="https://www.businessinsider.com/energy-demand-set-fall-year-worst-post-war-iea-2020-4">Business Insider</a>

Energy demand is set to plummet this year as coronavirus presents the biggest shock since World War ll, IEA says

<keyword id="19970523" type="General" weightage="20" keywordseo="mahindra-group" source="keywords">Mahindra Group</keyword> and global institutional investor <keyword id="20194556" type="General" weightage="20" keywordseo="ontario-teachers" source="keywords">Ontario Teachers</keyword>' Pension Plan Board have co-sponsored an infrastructure investment trust (InvIT) holding assets of 1.54 GW in the <keyword id="34553" type="General" weightage="20" keywordseo="renewable-energy" source="Orion">renewable energy</keyword> space in India. The InvIT, Sustainable Energy Infra Trust (<keyword id="20197897" type="General" weightage="100" keywordseo="SEIT" source="Orion">SEIT</keyword>), is India's largest InvIT in the renewable energy space and has raised primary capital of Rs 1,365 crore as part of the initial offer of units (offer), Mahindra Group said in a statement. Several global and Indian investors, including Asian Infrastructure Investment Bank (AIIB), subscribed to the offer. SEIT made its debut on the National Stock Exchange on Monday. SEIT has been set up to focus on the growth of the renewable energy sector in India at scale. It holds operational renewable power assets seeded by <keyword id="19970521" type="General" weightage="20" keywordseo="mahindra-susten" source="keywords">Mahindra Susten</keyword> with a generation capacity of approximately 1.54 GWp. The capital of Rs 897.8 crore made available to Mahindra Susten by way of an offer for sale of units of SEIT will help Mahindra Susten develop a future pipeline of renewable energy assets. Mahindra Susten and SEIT, as a part of their growth strategy, have entered into a Right Of First Offer (ROFO) arrangement, in compliance with InvIT Regulations, whereby renewable energy assets developed by Mahindra Susten will be offered for sale to SEIT. Both Mahindra Group and Ontario Teachers' had committed to invest up to Rs 3,050 crore and Rs 3,550 crore respectively into Mahindra Susten and SEIT. Anish Shah, Group CEO &amp; MD, Mahindra Group, said, "Mahindra Susten has ambitious plans to achieve 5X growth in the next five years and will contribute to both the Groups' and the nation's green energy goals. "The renewable energy sector will continue to grow and attract investments and we are excited about both Susten's and SEIT's role in developing the right ecosystem." Ontario Teachers' Pension Plan Board (Ontario Teachers') is a global investor with net assets of usd 249.8 billion as at June 30, 2023.

Mahindra Group, Ontario Teachers' co-sponsor InvIT in renewable energy space

Innovation in Renewable Energy

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“Our nation doesn’t have the luxury of time; our people cannot wait any longer. We have to deliver extraordinary results; we have to meet the aspirations of the people of India fast….” – These words came from <keyword id="6355222" type="PERSON" weightage="20" keywordseo="Piyush-Goyal">Piyush Goyal</keyword>, the Minister of State (IC) for Power, Coal and New &amp; <keyword id="34553" type="ORGANIZATION" weightage="20" keywordseo="renewable-energy">Renewable Energy</keyword>, while he was launching Energyinfrapost.com, an energy &amp; infrastructure sector web portal at a media event recently. 
 
The power minister said he aspires to take power to every home. 
 
“We have to ensure that a child in rural remote village gets not only 24 hour power, but power that his family can afford in these trying times, which encourages and prepares him to compete with the rest of the world,"he said adding that in some sense, energy gives everyone the power to get digitally connected to the world and to enjoy fruits of new technologies. 
 
Goyal also spoke on the feasibility of achieving ‘One Nation One Grid One Price’. He said that to realize this, there are three key elements - UDAY enabling Discoms to increase volume of power purchase, planning sufficient Renewable Energy generating capacity in all regions and reducing coal imports by increasing coal production in the country. “To strengthen the interstate transmission lines, the government has initiated an ambitious programme,” he added. 
 
Talking about the present day journalism scenario, he said “I genuinely believe days and time calls for new breed of journalism and excellence in journalism which certainly is very hard hitting to stop wrong from happen but which also encourages to work.”

"Our nation doesn't have luxury of time, we have to take power to each and every house: Piyush Goyal

5 multibagger stocks that are into clean and renewable energy supporting the climate change wave

India has ranked fourth among 55 developing countries in <keyword id="154273" type="ORGANIZATION" weightage="100" keywordseo="clean-energy">clean energy</keyword> investment, as per a new study released by Inter-American Development Bank. India’s neighbour China is ranked first. India scored of 1.85 points against China’s 2.23. 
 The study called ‘<keyword id="2575855" type="UNKNOWN" weightage="60" keywordseo="Climatescope">Climatescope</keyword> 2014’ suggests that renewable technologies are as cost-effective in developing countries as they are in the developed ones. The study observed that steady increase in power demand and good renewable sources of energy make India a growth market for clean energy. Wind is the largest <keyword id="34553" type="ORGANIZATION" weightage="100" keywordseo="renewable-energy">renewable energy</keyword> sector in the country. 
 
China bagged the first position as the largest manufacturer of wind and solar equipment in the world. 
 
“Climatescope is a critical resource for the Power Africa initiative and our partners, providing an in-depth and objective evaluation of low-carbon energy opportunities in emerging markets, including Africa,” said Dr Rajiv Shah of the US Agency for International Development Administrator. 
 
For Climatescope 2014 study, as many as 55 developing countries were evaluated based on various factors like clean energy investment policy, its market conditions, the structure of its power sector, the number and makeup of local companies operating in clean energy, and efforts toward reduction of greenhouse gas emissions.

India Named As One Of The Best Countries For Clean Energy Investment; Ranks Fourth Among 55 Developing Countries

<div class="KonaFilter image-container float_right"><div class="image on-image">James Dyson/Renewable Wave Power</div></div>A group of design engineers from Scotland have found a way to efficiently <a href="http://www.jamesdysonaward.org/Projects/Project.aspx?ID=3681&amp;RegionId=19&amp;Winindex=5">harness the raw power of ocean waves</a> and convert that power into usable <keyword id="6357014" type="ENTERTAINMENT" weightage="60" keywordseo="energy">energy</keyword>.
The design is one of the top 15 finalists for this year's <a href="http://www.jamesdysonaward.org/" target="_blank">James Dyson award</a>.
This design is an improvement over other wave energy converters because it operates using hydraulics to maximize the amount of energy it harnesses from waves.
The device - called the renewable wave power (RWP) - is essentially a chain of partially submerged buoys that absorb the force of waves, then converts the waves into energy. The growing need for sustainable energy sources is the inspiration behind this design entry.
The design has undergone several tests in Lancaster University's wave tank. The unique hydraulic system allows the RWP to respond to changing <keyword id="53745" type="ENTERTAINMENT" weightage="60" keywordseo="Ocean">ocean</keyword> conditions. As the waves flow in, they move the buoys, which creates pressure as they bounce up and down. The pressure is stored in hydraulic cylinders, which can then be depressurized to create electricity. 
<div class="KonaFilter image-container float_left"><div class="image on-image"><a href="http://www.youtube.com/watch?v=07ViATIJUxs">YouTube/Samuel Etherington</a></div></div>RWP is specifically designed to operate on the west coast of Scotland where, according to the designers, the rough Atlantic ocean has the potential to produce up to 70 Kilowatt-hours of energy per meter of coastline.
The energy readouts produced by RWP look promising, but it needs to be tested in the ocean to verify the results. 
The James Dyson award is a competition between up-and-coming design engineers all around the world. The award includes an international winner, and a national winner from each country represented.

This Device Converts Ocean Waves Into Power

<div class="image-container float_right"><div class="image"><a href="http://earthobservatory.nasa.gov/IOTD/view.php?id=79800">via NASA</a></div></div>
The push for <keyword id="60895" type="UNKNOWN" weightage="60" keywordseo="Green-energy">green energy</keyword> in the United States may be hindered by the limitations of our outdated power grids, which are unsuited for unpredictable <keyword id="6357014" type="ENTERTAINMENT" weightage="60" keywordseo="energy">energy</keyword> sources like sunlight and wind, according to <a href="http://www.latimes.com/nation/la-na-grid-renewables-20131203,0,6231790,full.story#axzz2mQhFfy6T" target="_blank">Los Angles Times' Evan Halper</a>.
<a href="http://www.latimes.com/nation/la-na-grid-renewables-20131203,0,6231790,full.story#axzz2mQhFfy6T" target="_blank"></a>The current grid system is designed to "keep the supply of power steady and predictable," Halper writes. But energy from renewable sources isn't steady and can't be controlled - a windy day could overload the system, while sudden cloud cover above a solar field would make it hard to keep the lights on.
<a href="http://www.latimes.com/nation/la-na-grid-renewables-20131203,0,6231790,full.story#axzz2mQhFfy6T" target="_blank">From the Los Angeles Times</a>:
"The grid was not built for renewables," said Trieu Mai, senior analyst at the National <keyword id="34553" type="ORGANIZATION" weightage="60" keywordseo="renewable-energy">Renewable Energy</keyword> Laboratory.
The frailty imperils lofty goals for greenhouse gas reductions. Concerned state and federal officials are spending billions of dollars in ratepayer and taxpayer money in an effort to hasten the technological breakthroughs needed for the grid to keep up with the demands of clean energy.
Unlike traditional sources of electricity, like oil or coal, green energy is praised because there's no fear of it running out, and it's carbon-neutral, so it doesn't contribute to climate change.
But without the <a href="http://www.businessinsider.com/renewable-energy-storage-problem-2013-11">ability to store energy</a> from wind turbines or solar fields - an extremely costly endeavor - renewable sources will continue to cause issues for the current system:
Already, power grid operators in some states have had to dump energy produced by wind turbines on blustery days because regional power systems had no room for it. Officials at the California Independent System Operator, which manages the grid in California, say renewable energy producers are making the juggling act increasingly complex.
"We are getting to the point where we will have to pay people not to produce power," said Long Beach Mayor Bob Foster, a system operator board member.
This isn't a reason not to invest in green energy, since our <a href="http://articles.washingtonpost.com/2012-08-01/local/35493997_1_power-grid-power-plants-new-nuclear-plants" target="_blank">aging and over-stretched power grid</a> is already in need of an expensive upgrade.
"Experts fear failures that caused blackouts in New York, Boston and San Diego may become more common as the voracious demand for power continues to grow," <a href="http://articles.washingtonpost.com/2012-08-01/local/35493997_1_power-grid-power-plants-new-nuclear-plants" target="_blank">The Washington Post wrote last August</a>. "They say it will take a multibillion-dollar investment to avoid them."
Some states, like California, have plans to redesign large networks of electrical lines so they are more compatible with solar- and wind-powered plants, according to the Times, but this won't happen overnight.
In the meantime, renewable energy has become backburner initiative for suppliers that are simply focused on preventing a grid collapse.

Green Energy Could Crash The U.S. Power Grid 

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<div class="image-container"><div class="image">Christine Armario/AP</div></div>
It's very easy to hype <keyword id="45681" type="UNKNOWN" weightage="60" keywordseo="Solar">solar</keyword>, which we've been doing for much of the year.
Capacity is irrefutably <a href="http://www.businessinsider.com/q2-solar-report-shows-boom-continues-2013-9">going up</a>, and prices are <a href="http://www.businessinsider.com/citi-the-solar-age-is-dawning-2013-5">collapsing</a>.
However, the absolute capacity figures remain relatively low compared with conventional generation. And in most cases, even large-scale solar is still not cost competitive with traditional sources of electricity.
There's basically one thing holding solar back: <keyword id="6388684" type="UNKNOWN" weightage="60" keywordseo="Storage">storage</keyword>.
Here's the problem: to run a commercially viable power plant, you need a continuous source of fuel. For run-of-the-mill power plants, this is basically not a problem: you just keep ordering up more coal, or natural gas, or uranium isotopes. 
But in a cruel paradox of nature, you actually can't control the supply of solar - or wind, for that matter - despite their infinite abundance: sometimes it's cloudy, or the wind is not blowing, or it's night time.
And electric grids cannot function unless they are able to balance supply and demand. An imbalance results in voltage fluctuations, or worse. 
Germany is already running into problems with this, as its solar capacity has skyrocketed. Soon, solar will be capable of meeting most of the country's electricity demand between 12 and 2 pm. As Citi's Jason Channell writes, "any further installations beyond this point could push structural solar power supply above demand and cause permanent mid-day grid instability."
Here's what he's talking about ("double penetration" refers to Germany having doubled its solar capacity): without batteries, that bulge is literally disruptive because it eats into conventional baseload generation, the backbone of current supply needs. 
<div class="image-container display-table click-to-enlarge"><div><div class="image"><a title_source="Citi" title_caption="" class="zoomin" href="http://static4.businessinsider.com/image/528a28caeab8eaec781ab8c3-960/citi solar 2-1.png"></a>Citi</div></div></div>
There are two ways to address this problem. One way is to address the electricity grid itself. That is indeed happening - whenever you hear about "smart grids," it refers to folks trying to find better ways of eliminating gaps in electricity supply and demand. 
The other avenue is batteries. With storage, "any excess generation above the natural run rate of conventional baseload is [captured] (Figure 20) and spread across the day (Figure 21)," Channel says. Check it out:
<div class="image-container click-to-enlarge"><div class="image"><a title_source="Citi" title_caption="" class="zoomin" href="http://static2.businessinsider.com/image/528a2cefeab8ea31041ab8bd-960/solar%20storage.png"></a>Citi</div></div>
So why don't we have large-scale batteries yet? Mainly, solar hasn't been widespread enough to justify what remain very expensive technologies. That's obviously on the verge of changing, but the most promising type of large-scale renewable storage system, lithium-ion battery packs, still costs $1000 per kilowatt hour, according to Channell. The average fridge uses about 5 kilowatt hours a day.
However, thanks to investment from the electric vehicle industry, lithium ion costs continuously come down. <a href="https://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=newssearch&amp;cd=2&amp;cad=rja&amp;ved=0CC8QqQIoADAB&amp;url=http%3A%2F%2Fwww.businessinsider.com%2Fkonterra-solar-2013-11&amp;ei=6TGKUoiTAfSg4AOCzYCYDA&amp;usg=AFQjCNGTqS-UhHEMv7fkn9_p4TooUmBJvA&amp;sig2=3y35KQ5_IbyEdv-KEXSZ3A">We also just told you about</a> a pilot project in Maryland that uses lithium ion batteries to modulate the solar generation from panels installed on a nondescript office building's rooftop.
Lots of businesses are working on this problem, and other potential solutions include liquid metal batteries, which use relatively cheap components and manufacturing processes; and compressed air storage, where kinetic <keyword id="6357014" type="ENTERTAINMENT" weightage="60" keywordseo="energy">energy</keyword> gets turned into pressurized air that's pushed underground. 
We're still in the earliest stages of widespread storage deployment, and we'll likely to see some kind of convergence between smart grid and battery solutions as more renewable capacity emerges.
That latter bit is not in doubt.

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NTPC looks at KV with NIIF for renewable infrastructure investment trust

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