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I am happy to be here today on the occasion of the golden jubilee week of Auroville. Sri Aurobindo’s vision of India’s spiritual leadership continues to inspire us, even today.

Indeed, Auroville is a manifestation of that vision.Over the last five decades, it has emerged as a hub of social, cultural, educational, economic and spiritual innovation.

Friends,

It is important today to remember the vast extent of action and thought of Shri Aurobindo.

A man of action, a philosopher, a poet, there were so many facets to his character. And each of them was dedicated to the good of the nation and humanity.

In the words of RabindraNath Tagore:

Rabindranath, O Aurobindo, bows to thee!

O friend, my country's friend, O voice incarnate , free,

Of India's soul!

 

Friends,

 

As The Mother had observed, Auroville was to be a universal town. The purpose of Auroville is to realise human unity.

The large gathering here today, is a reflection of that idea. For ages, India has been a spiritual destination for the world. The great universities of Nalanda and Taxila hosted students from all over the world.  Many of the world's great religions were born here. They motivate people from all walks of life,) to take to a spiritual path in their day to day dealings.

Recently, the United Nations has declared June 21 as International Day of Yoga, recognizing a great Indian tradition. Auroville has brought together men and women, young and old, cutting across boundaries  and identities.

I understand that Auroville’s Charter was hand-written in French by the Divine Mother herself. According to the Charter, the Mother set five high principles for Auroville.

The first high principle of Auroville is that it belongs to all humanity. This is a reflection of our ancient credo of VasudhaivaKutumbakam -- the world is one family.

I am told, that the inauguration ceremony of Auroville in 1968 was attended by delegates of 124 nations. I learn that today, it has over two thousand, four hundred residents from forty-nine countries.

This leads us to the second high principle of Auroville. Anyone who is willingly in service of the Divine Consciousness is entitled to live in Auroville.

Maharishi Aurobindo’s philosophy of Consciousness integrates not just humans, but the entire universe.This matches with the ancient saying in the Ishavasya Upanishad.This has been translated by Mahatma Gandhi to mean “everything down to the tiniest atom is divine”.

The third founding principle of Auroville is that it will emerge as the bridge between the past and the future. If one looks at where the world and India were in 1968 when Auroville was founded, the world was living in compartments and in a state of cold war. The idea of Auroville saw the world getting integrated by trade, travel and communication.

Auroville was conceived with the vision of enveloping the whole of humanity in one small area. This would show that the future would see an integrated world. The fourth founding principle of Auroville is that it will connect the spiritual and material approaches of the contemporary world. As the world progresses materially through science and technology, it will increasingly long for and need spiritual orientation for social order and stability.

At Auroville, the material and the spiritual, co-exist in harmony.

The fifth basic principle of Auroville is that it will be a place of un-ending learning and constant progress, so that it never stagnates.

The progress of humanity calls for continuous thinking and re-thinking, so that the human mind does not become frozen into one idea.

The very fact that Auroville has brought together such huge diversity of people and ideas makes dialogue and debate natural.

Indian society is fundamentally diverse. It has fostered dialogue and a philosophic tradition. Auroville show-cases this ancient Indian tradition to the world by bringing together global diversity.

India has always allowed mutual respect and co-existence of different religions and cultures. India is home to the age old tradition of Gurukul, where learning is not confined to classrooms; where life is a living laboratory. Auroville too has developed as a place of un-ending and life-long education.

In ancient times, our sages and ‘Rishis’ would perform ‘yagya’ to begin great endeavours. Occasionally, those yagyas would shape the course of history.

One such ‘Yagna’ for unity was performed here exactly 50 years ago. Men and Women brought soils from all parts of the world. In the mixing of the soils, began the journey of one-ness.

The world has received positive vibrations from Auroville, in many forms, over the years.

Be it un-ending education, environment regeneration, renewable energy, organic agriculture, appropriate building technologies, water management, or waste management. Auroville has been a pioneer.

You have done a lot to promote quality education in the country. On the occasion of 50 years of Auroville, I hope you can enhance your efforts in this direction. Serving young minds through education will be a big tribute to Sri Aurobindo and the Mother.

Many of you may not be aware, but I too, have been a follower of your efforts on education. Shri Kireet Bhai Joshi, an ardent disciple of Sri Aurobindo, and the Mother, was an eminent educationist.

He was also my Education Advisor, when I was the Chief Minister of Gujarat. He is not amongst us today. But his contribution to the field of education in India, is worth remembering.

Friends,

The Rig Veda states: “आनो भद्रा: क्रतवो यन्तु विश्वत:”; Let noble thoughts come to us from all sides.

May Auroville continue to come up with ideas to empower the ordinary citizens of this country.

May people from far and wide bring with them new ideas. May Auroville become the centre where these ideas are synthesized.

May Auroville serve as a beacon to the world.

May it be the guardian which calls for breaking down narrow walls of the mind. May it continue to invite everyone to celebrate the possibilities of humanity’s one-ness.

May the spirit of Maharishi Aurobindo and the Divine Mother, continue to guide Auroville to the eventual fulfilment of its lofty founding vision.

Thank You.

***

AKT/HS

Mehul Choksi, one of two businessmen allegedly involved in perpetrating India’s biggest ever banking fraud, broke his silence at the weekend with an open letter to employees claiming his innocence and telling them to look for other jobs. (Reuters)

Mehul Choksi, one of two businessmen allegedly involved in perpetrating India’s biggest ever banking fraud, broke his silence at the weekend with an open letter to employees claiming his innocence and telling them to look for other jobs. Choksi and his nephew Nirav Modi, both owners of jewellery store chains, are suspected of colluding with two employees from Punjab National Bank, the country’s second-largest state lender, in an alleged $1.8 billion fraud. The businessmen are said to have been issued with illegal letters of undertaking (LOUs) from PNB over a seven year period, and to have used them to get loans from overseas branches of other, mostly Indian banks. Choksi, who owns Gitanjali Gems, told employees he did not want anyone to suffer due to an association with him, but that he was in no position to pay their salaries and they were free to look for other opportunities until he could prove himself innocent. “With recent false allegations levelled against me of defrauding the PNB Bank and media frenzy, the situation has gone grave, which is turning graver by the day,” Choksi wrote in the letter sent to employees on Friday. The scandal, which came to light earlier this month, has shaken confidence in state-run lenders and turned the spotlight again on India’s deep-seated corruption problem.

At least a dozen people — six from the bank and six more from Modi’s and Choksi’s companies — have been arrested and the investigation is still continuing. Modi, who according to Forbes magazine has a net worth of some $1.8 billion, owns Firestar International and a chain of eponymous boutique stores from New York to Beijing. On Saturday, authorities seized a farmhouse, a solar power plant and land that belonged to him. Also on Saturday, India’s Enforcement Directorate, which fights financial crimes, said on Twitter it had taken possession of 21 other properties belonging to Modi worth 5.24 billion rupees ($81 million) in the latest swoop in Mumbai and Pune, another city in western India. Earlier in the week, the agency said it had seized luxury cars worth millions of rupees belonging to Modi. A lawyer for Modi has denied his client was involved in any fraud. Choksi’s firm, Gitanjali Gems, has also denied involvement in the alleged fraud.

Separately, India’s federal police on Thursday registered a case against a Delhi-based jeweller on a fraud complaint filed by Oriental Bank of Commerce, another state-owned bank, a police source said. The lender has alleged the firm, Dwarka Das Seth International, cheated the bank with the help of some of its officials, using letters of credit (LCs) — a loan instrument similar to those used by Modi’s and Choksi’s firms in the alleged fraud. Reuters was unable to reach the Delhi firm as the phone numbers listed online did not work.

Promising all kinds of approval and clearances for projects in 21 days, Andhra Pradesh Chief...

Continuing its endeavour to promote India’s Heritage, Ministry of Culture is organising a week long diversified cultural carnival ‘Rashtriya Sanskriti Mahotsav’ in Madhya Pradesh that began at Maan Mandir Fort, Gwalior, today. The festival was inaugurated by Shri Narendra Singh Tomar, Minister of Rural Development, Panchayati Raj and Mines, Government of India in the presence of Cabinet Minister of Urban Development and Housing Minister (Madhya Pradesh) - Smt. Maya Singh, Minister of Higher Education - Shri Jaibhan Singh Pawaiya, New and Renewable Energy Minister – Shri Narayan Singh Kushwah, and Shri Vivek Narayan Shejwalkar, Mayor, Gwalior. To celebrate our plural traditions, under the Ek Bharat Shreshtha Bharat matrix Rashtriya Sanskriti Mahotsav in Madhya Pradesh is enjoined with Nagaland and Manipur as its pairing states.  The celebrated festival that began today, will continue to connect people of Gwalior with India’s rich culture tomorrow also and then will travel in the four cities of Madhya Pradesh i.e  Bhopal, Indore, Orchha and Shivpuri from 26th February to 4th March 2018.

Thanking Union Minister of State for Culture (I/C),Dr. Mahesh Sharma and appreciating efforts of Ministry of Culture for bringing this festival to the state of Madhya Pradesh, Shri Narendra Singh Tomar said, “Culture is the way we Indians live together and remain united. Our Culture is our identity – locally, nationally and globally and we need to regularly celebrate our local culture and cultural acumen and its interface with other cultural spheres around us in any of its manifestations.” He also said – “Rashtriya Sanskriti Mahotsav is strengthening the spirit of Ek Bharat Shreshth Bharat’s vision which will provide an opportunity to citizens specially youths to experience true spirit of Ek Bharat Shreshta Bharat.”

The inaugural day witnessed soulful performance of Invocation by Dhrupad Kendra, Gwalior, Dagarvani by Pandit Abhijeet Sukhdane with Pandit Sanjay Aagle on the Pakhawaj, and Mallick brothers from the Darbhanga Gharana of Drupad. The Seven Zonal Cultural Centers under the Ministry of Culture have been reposed with the task of organizing the RSM in Madhya Pradesh.

The festival showcases a titanic variety of tribal and classical art forms from different cities and towns across the country accompanied by dance, music, drama, entertainment and food. Maan Mandir, Fort Gwalior came live to food stalls, showcasing an assortment of regional cuisines. In addition, power- packed performances were delivered by different artists including folk, contemporary etc.

Guests experienced an unparalleled shopping journey viz handicrafts, cuisines, rangoli painting, sculpture, photography, documentation and performing arts- folk.

The second day of the Mahotsav in Gwalior will witness the performance by young maestros like Maestro Sumeet Anand from the Guahar Vani (Dhrupad tradition), Yakhlesh Baghel and Anuj Pratap Singh, (Dhrupad Jugalbandi) and RudraVeena recital by Ustad Bahauddin Dagar.

Apart from this, the other activities have also been planned by the Ministry of Culture during the RSM like Screening of films on the cultural traditions of Nagaland and Manipur and other North Eastern states. Exhibition on conservation of heritage by the Archaeological Survey of India. Food festival with traditional cuisines from different states with special focus on Nagaland and Manipur will take place from 10:00 a.m. to 9:00 p.m.

The Mahotsav will be spread across the following venues in Madhya Pradesh:

 

  The Man Mandir Fort and few other chosen venues at Gwalior

February 24-25

 The Indira Gandhi Rashtriya Manav Sangrahalaya at Bhopal

February 26-27

  The Lal Baag Palace at Indore

February 28

   Sheesh Mahal/Betwa river-side at Orchha

March 3

   Maharaja kiChhatri, Shivpuri

March 4

 

 

Rashtriya Sanskriti Mahotsav was conceived by the Ministry of Culture in the year 2015 and after the grand success of the First Rashtriya Sanskriti Mahotsav in November-2015, the Ministry of Culture decided to organize it with an intent to showcase the rich cultural heritage of the Country in all its rich and varied dimensions, viz Handicrafts, Cuisine, Painting, Sculpture, Photography, Documentation and Performing Arts-Folk, Tribal, Classical and Contemporary- all in one place. 

*****

NB/PS

 

 

 

 

Ladies and gentlemen,

On the occasion of the birth anniversary of SelviJayalalithaaji, I pay my tributes to her and extend my greetings and best wishes to all of you.Wherever she is, I am sure, she would be very happy, to see the happiness on your faces.

 I am glad, today, to be able to launch one of her dream projects– the Amma Two Wheeler Scheme. I am told, that on Amma's70 birth anniversary, seventy lakh plants will be planted across Tamil Nadu.These two initiatives will go a long way in the empowerment of women,and the protection of nature.

Friends.

When we empower the women in a family, we empower the entire house-hold.When we help with a woman's education, we ensure that the entire family is educated.When we facilitateher good health, we help keep the entire family healthy.When we secure her future, we secure the future of the entire home. We are working in this direction.

Friends.

The Union Government has focused on improving "Ease of Living"for the common citizen.All our schemes and programmes have been oriented towards this aim.Be it financial inclusion, easy availability of credit for farmers and small business,healthcare or sanitation, this is the basic mantra, with which the NDA Government at the Centre is working.

Over 11 crore loanshave been sanctioned under the Pradhan Mantri Mudra Yojana. An amount of 4 lakh, 60 thousand crore rupees has been given to people without any bank guarantee.And most importantly, seventy per cent of the beneficiaries are women.

The success of this scheme, therefore, is proof that the women of India are now stepping out of the age-old shackles, and seeking self-employment.We have taken a number of other steps too, for women empowerment. In the recent Union Budget, we announced that the EPF contribution for new women employees will be reduced from 12 percent to 8 percent for three years. The Employer contribution will remain 12 percent.

Under the Stand Up India scheme, women entrepreneurs will be given loans worth 10 lakh rupees to one crore rupees.We have also made a change in the Factory's Act, and suggested to States, that they allow women to work in the night shift as well. We have also extended maternity leave from 12 weeks to 26 weeks.

Under the Pradhan MantriAwaasYojana, the registry of the House is done in the name of the woman.

The Jan DhanYojana has also benefited women in a big way.Out of 31 croreJan Dhan Bank Accounts,16 crore are of women.

The percentage of total bank accounts held by women, has gone up from 28 percent in 2014, to 40 percent now.The Swachh Bharat Mission has given women respect and dignity, which is their right.Rural sanitation coverage in the country has expanded from 40 percent to 78 percent.We worked in a mission mode, to provide toilets for girl children in all government schools.

Friends.

 

The schemes of the Union Government are protecting nature, even as they are empowering people.29 crore LED bulbs have been distributed so far under the Ujala scheme.They have led to a saving of 15 thousand crore rupees in Electricity Bills. They have reduced carbon dioxide emissions by a significant amount.

The Union Government has so far given over 3.4 crore free gas connections under the UjjwalaYojana.As women benefit from a smoke-free environment,the reduction in kerosene usage is also helping the environment.Nine and a half lakh women in Tamil Nadu have benefited so far, from this scheme.

Keeping in mind, the issues of gas supply and sanitation in rural areas, the Union Government has come up with the Gobar-Dhanscheme.The aim is to convert animal

dung and agricultural waste into compost, bio-gas, and bio-CNG.This will raise incomes,and reduce expenditure on gas.

Friends.

More than 24 thousand crore rupees worth of projects are currently being implemented by the Centre, in Tamil Nadu.All these projects have begun after the NDA Government assumed office.They include solar power plants, crude oil pipelines National Highways, and port related works.More than three thousand, seven hundred crore rupees have been sanctioned for the Chennai Metro Rail.

When there was a Congress-led Government at the Centre, Tamil Nadu had received 81 thousand crore rupees under the 13th Finance Commission. After the NDA came to power, Tamil Nadu received One Lakh, 80 Thousand Crore rupees under the 14th Finance Commission.This is an increase of about one hundred and twenty percent.

The Government is working to provide a home to every poor person by 2022. About one crore houses have been built in the last three years.

Tamil Nadu has been given about 700 crore rupees in 2016-17, and about 200 crore rupees in 2017-18, for rural housing.For urban housing, the State has been given over 6000 crore rupees.

Friends.

Farmers in Tamil Nadu have also benefited from the Pradhan MantriFasalBimaYojana. I am told that claim amounts worth over 2600 crore rupees have been given to farmers in Tamil Nadu so far, under this scheme.

The Union Government is working towards modernization of fishing in Tamil Nadu Under the Blue Revolution Scheme, we are providing financial assistance to fishermen for long liner trawlers.Last year, we gave the State Government 100 crore rupees, to convert over seven hundred and fifty boats to long liner trawlers. Besides making their lives easier, such trawlers will also help the fishermen earn more.

 India's vast ocean resources, and long coast-line offer immense possibilities.The Union Government is workingon the Sagarmalaprogramme, to overhaul our logistics sector.This will reduce the cost of both domestic and foreigntrade.It will also benefit people living along India's coast-line.

We have announced the Ayushman Bharat scheme in the recent Union Budget.Each poor family will be given the facility of free medical treatmentupto a cost of 5 lakh rupees per year, at identified hospitals.This will help 45 to 50 crore people across the country.

The Pradhan MantriSurakshaBeemaYojana and the JeevanJyotiYojana have provided insurance cover to more than 18 crore people. We have also taken other steps such as providing medicines at economical rates, through more than 800 Jan AushadhiKendras.

We remain committed towards working hard in bringing a positive change in the lives of people.

 I once again pay my respectsto SelviJayalalithaaji.I wish you all the very best.

 

Thank you.

Thank you very much.

 

***

AKT/SH

 

adani group, Gautam Adani, Andhra Pradesh, Rs 9,000 crore investment, CII Partnership Summit, Bhavanapadu, Srikakulam, industry Gautam Adani, Chairman, Adani Group. (Photo: Reuters)

Adani Group will invest Rs 9,000 crore in projects across different sectors in Andhra Pradesh, it announced on Saturday. Gautam Adani, Chairman, Adani Group, made the announcement at the inaugural session of “CII Partnership Summit” in this coastal city. He said the investment would be made in the state over the next five years.

The group signed several Memorandums of Understanding (MoUs) with the Andhra Pradesh government on the first day of the three-day event. He said the Adani Group would develop a greenfield seaport at Bhavanapadu in Srikakulam district.

Adani also announced setting up of a 1,000 MW renewable energy project and battery storage facility in the state.

FREETOWN, Sierra Leone, January 27, 2018/APO Group/ --

The Government of Sierra Leone under the leadership of His Excellency, Dr. Ernest Bai Koroma has over the years been mobilizing financial resources to finance water projects in the rural areas of the country from budgetary allocations and grants from its traditional development partners such as World Bank and African Development Bank (AfDB).

The Government has also through the Sierra Leone Water Company (SALWACO) continued to provide technical as well as financial support alongside its development partners for the development of rural water supply schemes and SALWACO is being evidently strengthened to efficiently perform its current responsibilities.

However, the late Sierra Leone Ambassador to the United Arab Emirates (UAE), Architect Siray Alpha Timbo of blessed memory through his shrewd diplomacy caused a cooperation agreement between the Emirates Red Crescent Authority in the UAE and the Ministry of Water Resources in Sierra Leone concerning the digging of artesian wells and ground wells in the rural areas of Sierra Leone.

The UAE Red Crescent Authority is a voluntary humanitarian body that plays a supporting role for official authorities in times of peace and war. It was founded on January 31, 1983 and received international recognition for joining the International Federation of Red Cross and Red Crescent Societies in 1986.

Although Ambassador Timbo has died, the Chargé d' Affaires in the Sierra Leone Mission in the UAE, Mr. Allieu Badarr Mansaray and Sierra Leone’s Consul General in Dubai, Mr. Bahige Annan are working closely with development partners, including the Emirates Red Crescent Authority to see the successful implementation of all the projects the late Sierra Leone’s top diplomat in the Emirates initiated.

In an interview with the Director General of SALWACO, Mr. Samuel Bangura said negotiations for the agreement started in 2011 and that the Government of Sierra Leone signed the financial agreement sometime last year. He disclosed that April to July 2017 would have been the implementation period but the sudden death of Ambassador Siray Timbo caused the project to be put on hold. The Director General of SALWACO further disclosed that the project implementation started in December last year but there were some administrative delays, noting that they only concluded the process of arranging the funding in December 2017.

Mr. Bangura reiterated that the Government of Sierra Leone signed the agreement in 2016 with the hope of accessing the funding as early as possible for SALWACO to start the project implementation but it could not, adding that funding has been concluded and the launch of the project took place in some Northern rural towns of Sierra Leone on 20th – 21st January, 2018.

Project Description

With the Ministry of Water Resources in Sierra Leone going into an agreement with non-traditional donors in the private sector in the UAE, it could be seen as a tremendous effort by the Government of Sierra Leone to tap new sources of funding to propel the country to development in every sector. Thanks to the efforts of Ambassador Siray Timbo of blessed memory for breaking a new ground to ensure that Sierra Leone improves access to reliable water supply services for the rural population.

The project description of the cooperation agreement between Emirates Red Crescent Authority and the Ministry of Water Resources concerning the digging of artesian wells and ground wells in the rural areas is as follows:-

First: Both parties agreed that the Second Party shall implement a project serving water resources in order to secure and provide drinking water in the rural areas in the Republic of Sierra Leone in accordance with the specifications, bills of quantities and prices set out in the appendix of the Agreement. The project is divided into two parts in accordance with the following values and details:

1. Digging (49) artesian wells including the pumps, tanks and solar energy system with a total cost of US$ 1,816,777 and US$ 37,077 per well.

2. Digging (63) ground wells with manual pumps and with a total cost of US$ 617,400 and US$ 7,800 per well.

Purpose of the Agreement

The purpose of this agreement is to provide a financial donation (grant) by the First Party to dig artesian and ground wells, manage the project and raise awareness among the community in the Republic of Sierra Leone in order to contribute to improving the water services provided by the Second Party as well as secure and provide drinking water in the rural areas agreed upon by both parties with a total value not exceeding US$ 2,734,173 (Two Million Seven Hundred and Thirty-four Thousand, One Hundred and Seventy-three United States Dollars) or what is equivalent in UAE Dirham including all the works of digging, extension, pipes, pumps and all other necessary supplies in addition to administrative fees, the enlistments of contractors and fees of consultation, if any, as this amount represents the maximum amount to implement the whole project.

According to the SALWACO Director General, “We hope to implement the project between now and July should the funding be consistent.” He disclosed that 25% of the amount has been released and that the project would be launched in rural villages far away from the capital Freetown.

The Director General explained the new technology of using boreholes with pumps, tanks and solar energy system which he said was introduced by SALWACO. He further explained the efficiency and effectiveness of the system for small rural settlements. Mr. Samuel Bangura disclosed that about 111,000 people will benefit from the project when implemented.

Over the years under the Ernest Bai Koroma-led APC Government, SALWACO has undergone serious transformation that has enabled the institution to efficiently perform its current responsibilities and rural water supply services. It has implemented several water projects in the rural areas funded by the Government of Sierra Leone and its development partners worth hundreds of millions of United State Dollars.

“Under Samuel Bangura as Director General, he has rapidly transformed the company from a dead to a more proactive institution by providing safe water for people in rural areas largely due to the young, intelligent and dedicated staff who are determined to implement the President’s dream of providing safe pipe-borne water to rural areas,” Sierra Express Media, an online Sierra Leone newspaper recently wrote.

On the telephone line from the Emirati financial capital, Dubai, Sierra Leone’s Consul General, Bahige Annan says the support given by the UAE Red Crescent Authority is very timely and will help provide clean drinking water to thousands of people living in areas with scarce sources of clean water and the project will also help prevent deaths caused by diseases related to unsafe drinking water.

He commended the UAE Government for always providing aid for all. The pivotal role always played by the UAE in the humanitarian field, Mr. Annan added, only reflects the key noble values of the UAE people under the leadership of their leader, His Highness Sheikh Khalifa bin Zayed Al Nahyan.

“The UAE is the capital of giving, and that the people of the UAE are always keen on extending a helping hand to the needy,” Mr. Annan concluded.

Given the Government of Sierra Leone’s rural water supply-specific policy objectives with the broad objective to improve health and alleviate poverty of the rural population through improved access to adequate safe drinking water, it is hoped that SALWACO will live up to the task of successfully and efficiently carrying out its obligations in the project implementation before the end of the second quarter of this year.

http://APO.af/PdkY67

  • Cooperation agreement signed about the construction of eleven hybrid facilities for a Nigerian bank
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Solar jobs and wealth creation in Europe are set to increase to nearly 175,000 full time jobs and 9,500M value added by 2021, according to a new EY report. The EY report also shows that an increase in ambition for the European Union 2030 renewable energy target from 27% to 35% will result in more than 120,000 new solar jobs alone.

Dominique Ristori, Director-General, European Commission, DG Energy, speaking at the launch event of the report, said: "We want to see solar and clean energy well-developed in Europe, more solar jobs and generated value is key to moving towards a sustainable lowcarbon economy."

MEP Butikofer commented "Crucially in the short term, removing solar trade measures currently enforced by DG Trade in the European Commission could give a welcome boost to the European solar industry including new jobs."

MEP Marijana Petir, stated "This surge is only possible if countries increase their solar deployment rate in line with policy requirements to 2020. With the right policies in place this growth could be even greater by 2030. Member States should have the necessary flexibility to boost renewable energy that is available on their territory. With this approach Member states could develop incentives to reduce the greenhouse gas emissions and to create new jobs in the most efficient way."
"Our calculations show that Spain will have the highest number of new jobs, with an expected growth of 471% from 2016 to 2021, followed by Greece (+403%), and Poland (+381%)" said EY on their findings for the report.

Christian Westermeier, President of SolarPower Europe said: "The more solar installed the more jobs and economic growth we will see in Europe. We need to remove all barriers to solar starting with withdrawing the trade measures currently in place on solar panels and cells accompanied by a predictable regulatory environment for PV in Europe. EY found that the average PV system price in Europe has decreased by 23% in 2016, compared to 2014, but we know that the price could be even lower if we ended the artificially high tariffs on solar products, which would boost jobs and economic activity in the countries of the EU."

The trade associations representing key players in Europe's energy transition urge policy makers to take a step-wise approach towards the market integration of small-scale renewable and high efficiency cogeneration installations.

Whilst the European institutions are negotiating the recast of the Electricity Market Design Regulation, the signatories of the declaration launch today the "Small Is Beautiful" campaign, aiming at highlighting the benefits of small-scale, clean and locally owned installations to move progressively towards a decentralised energy system.

James Watson, CEO of SolarPower Europe said: "Small installations empower territories, small businesses, and consumers. When it comes to solar, they are also the biggest job providers. We must reflect on the energy transition we want to see emerging in Europe."

These benefits are, however, threatened by the European Parliament's current proposal requiring all power generators to be "balancing responsible" and the blanket removal of priority dispatch.

Small-scale renewable and high efficiency cogeneration installations are generally run by private consumers, households, communities, farmers, cooperatives or SMEs and benefit the local economy.However, European power markets are mostly not yet « fit » for small installations. Removing the balancing responsibility exemptions and priority dispatch will result in disproportionate costs and technical and administrative burdens.

"Keeping the priority dispatch and access regimes for small installations as proposed by the European Commission is fundamental for empowering energy consumers and boosting investments in local sustainable and efficient energy solutions", indicated Hans Korteweg, Managing Director of COGEN Europe.
Rémi Gruet, CEO of Ocean Energy Europe, commented "To accelerate the energy transition, investor risk needs to be reduced. Exemptions to balancing responsibility and maintaining priority dispatch go a long way in achieving this. All the more so for demonstration projects for innovative technologies: the lower the risk, the faster they can be taken to market".

Rather than encouraging the participation of consumers or SMEs in the energy transition, the current proposals on the table would act as a disincentive.
Signatories of the declaration urge policy makers to maintain priority dispatch and the exemption of balancing responsibilities for small scale renewable and highly efficient cogeneration installations. A balanced approach is key to enable the advent of an increasingly distributed energy system, empowering energy consumers and contributing to the economic and social dynamism of local communities and small businesses.

REC Group and the second time its innovative TwinPeak technology based on half-cut multicrystalline PERC cells has been awarded

Direct access to technical support and a new web presence to premiere at SPI 2017

Voltalia, an international player in renewable energies, announces the launch of the construction of a new 8.2 MW solar power plant in France, in the Bouches-du-Rhône department.

Voltalia (Euronext Paris, ISIN code: FR0011995588), an international player in renewable energies, announces the start of construction works at the French solar power plants of Canadel (10.4 MW) and Castellet 2 (3.8 MW) located in the southern-France region of Var. 

U.S.-based NRG Systems announced today that Lasser Eólica has joined its global network of service partners and dealers. Based in Spain, Lasser Eólica engineers, installs, and maintains met tower systems across Europe, North Africa, and the Middle East.

Verano Capital, an American project developer headquartered in Chile, announced that it won 18% of the solar capacity in auction at the Argentinian energy tender with its 100 MW VeCaSo-1 solar project. Located near Mendoza, Verano’s PV project was selected on a winning bid at $42.50/MWh.

Abigail Ross Hopper, President and CEO of the Solar Energy Industries Association (SEIA), issued the following statement after the U.S. International Trade Commission (ITC) announced a split remedy recommendation for the Section 201 trade case

Joint filing from broad array of groups takes aim at financial “Beneficiaries” as the only entities to support the DOE proposal – and whose filings fail to establish that the proposed subsidies are needed or legally valid

As demand for solar energy surges across America, today the Solar Energy Industries Association (SEIA) and Alta Energy jointly released a white paper highlighting an underutilized financing tool that can help boost commercial and industrial (C&I) solar development nationwide.

Urban Grid Holdings, LLC (Urban Grid), a leading developer and financier of solar projects throughout the United States, is pleased to announce the completion of two solar installations for Allegany County, Maryland totaling 2.14 MW.

 

Join Us in the pan-india rooftop solar business series and expand your business portfolio in the states of MaharashtraRajasthan, GujaratKarnatakaTamil NaduTelangana, Kerala, Kolkatta, North East India, Andhra Pradesh and many more.

A One Day Event Focusing on the Latest Technology Advancements and Improvements In Solar Rooftop Project and Business Strategies.

The conference will offer an excellent platform to discuss the policy framework while providing an unparalleled networking opportunity for representatives from Installers, Consumers, Government authorities etc. It has been developed to focus on growth through discussion, Q&As and leading keynote presentations from the forerunners of Solar Rooftop Industry.

India's Largest B2C Event for Rooftop Solar in India is in Your City visit www.solarroofsmeet.com 

 

For Registration Assistance Contact

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  • 11 May 2018 - 11 May 2018
  • Kolkata, West Bengal

NTPC Ltd. pays Interim Dividend of Rs. 2,251.01 crore for FY 2017-18

19th Feb, 2018

For the financial year 2017-18, NTPC Ltd. has paid an interim dividend of Rs. 2,251.01 crore, being 27.30% of the paid-up equity share capital of the Company.

The RTGS advice for the transfer of Rs. 1,401.81 crore to Government of India, being the share of Government of India in the interim dividend, was presented by Shri Gurdeep Singh, CMD, NTPC, to Shri R.K.Singh, Hon’ble Minister of State (Independent Charge) for Power and New & Renewable Energy in the presence of Shri Saptarshi Roy, Director (Human Resources & Finance), Shri A. K. Gupta, Director (Commercial), Shri. S.K.Roy, Director (Projects), Shri Prakash Tiwari, Director (Operations) and Shri Prasant Kumar Mohapatra, Director (Technical) from NTPC Ltd.

This is the 25th consecutive year that NTPC Ltd. has paid dividend.


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  • Hartek Power connects 545-MW solar projects to grid in six states in current financial year
  • From 598 MW in March 2017 to 1,143 MW now, Hartek Power registers phenomenal growth of 91.1 per cent in its solar grid EPC business in 10 months

The college’s Tiloniacampus now has access to reliable off-grid energy with a 116 KW solar system provided by Philips Foundation 

Along with over 180 international members comprising of Ministries, Utilities, Technology providers, Academia and Research, ISGF has evolved as a Think-Tank of global repute on Smart Grids and Smart Cities

India Power Inc For Increased Safety & Efficiency in Power Sector

13th Feb, 2018

Power minister and eminent experts from the sector share thoughts on increased safety standard at power plant sites

Over 800 eminent power experts gathered at O&M conference

New Delhi, February 13, 2018: India’s largest Operations & Maintenance conference – Indian Power Stations 2018 was inaugurated by Hon’ble Minister of State (Independent Charge) Power and New & Renewable Energy, Shri R K Singh in New Delhi today. The three-day event, to commemorate synchronisation of NTPC’s first thermal plant at Singrauli Super Thermal Power Station 36 years ago, was kicked-off with eminent experts and leaders sharing their thoughts on safety concerns in the power sector.

Inaugurating the conference, the Union Minister of State (IC) for Power and New and Renewable Energy, Shri R.K. Singh lauded NTPC for its efficiency and safety track record and advised the Maharatna to get into power exports and setting-up power plants overseas.

Speaking on the occasion, Shri A K Bhalla, Secretary, Ministry Of Power laid emphasis on technology and bringing down the power shortage and said, “Today we have IT-enabled systems to improve knowledge and efficiency in the sector. We need to keep ourselves updated with the developments in the sector and we will be able to find solutions easily”.

Highlighting technological challenges, addressing issues and formulating solutions & strategies in the presence of key stakeholders, the O&M conference – Indian Power Stations 2018 mirrors NTPC’s commitment towards making quality power available 24x7 while ensuring minimum carbon footprint.

Shri P K Pujari, Chairperson, CERC, “NTPC is setting the benchmarks in project management and its operational practices are rated amongst the best in the world”. Speaking about the overall energy mix, he said, “ Addressing delegates and officials at the international O&M conference, Shri Gurdeep Singh, CMD, NTPC said “Safety is always the first priority and we should demonstrate the same through our actions.

He further added that coal was here to stay for two to three decades, if not more and coal based power plants need to focus on raising their efficiency levels.

The three day conference will serve as a platform for delegates to lay the foundation of a dialogue with the global fraternity and additionally enhance the awareness and knowledge of every participant at the global conference.


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JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that it has supplied 23MW of high-

For AlsoEnergy, the top selling independent monitoring provider for commercial PV in North America, this partnership is an opportunity to extend international coverage for sales and support.

High voltage switchgear to support Saudi Arabia’s first integrated solar and natural gas power plant

I am happy to be here today on the occasion of the golden jubilee week of Auroville. Sri Aurobindo’s vision of India’s spiritual leadership continues to inspire us, even today.

Indeed, Auroville is a manifestation of that vision.Over the last five decades, it has emerged as a hub of social, cultural, educational, economic and spiritual innovation.

Friends,

It is important today to remember the vast extent of action and thought of Shri Aurobindo.

A man of action, a philosopher, a poet, there were so many facets to his character. And each of them was dedicated to the good of the nation and humanity.

In the words of RabindraNath Tagore:

Rabindranath, O Aurobindo, bows to thee!

O friend, my country's friend, O voice incarnate , free,

Of India's soul!

 

Friends,

 

As The Mother had observed, Auroville was to be a universal town. The purpose of Auroville is to realise human unity.

The large gathering here today, is a reflection of that idea. For ages, India has been a spiritual destination for the world. The great universities of Nalanda and Taxila hosted students from all over the world.  Many of the world's great religions were born here. They motivate people from all walks of life,) to take to a spiritual path in their day to day dealings.

Recently, the United Nations has declared June 21 as International Day of Yoga, recognizing a great Indian tradition. Auroville has brought together men and women, young and old, cutting across boundaries  and identities.

I understand that Auroville’s Charter was hand-written in French by the Divine Mother herself. According to the Charter, the Mother set five high principles for Auroville.

The first high principle of Auroville is that it belongs to all humanity. This is a reflection of our ancient credo of VasudhaivaKutumbakam -- the world is one family.

I am told, that the inauguration ceremony of Auroville in 1968 was attended by delegates of 124 nations. I learn that today, it has over two thousand, four hundred residents from forty-nine countries.

This leads us to the second high principle of Auroville. Anyone who is willingly in service of the Divine Consciousness is entitled to live in Auroville.

Maharishi Aurobindo’s philosophy of Consciousness integrates not just humans, but the entire universe.This matches with the ancient saying in the Ishavasya Upanishad.This has been translated by Mahatma Gandhi to mean “everything down to the tiniest atom is divine”.

The third founding principle of Auroville is that it will emerge as the bridge between the past and the future. If one looks at where the world and India were in 1968 when Auroville was founded, the world was living in compartments and in a state of cold war. The idea of Auroville saw the world getting integrated by trade, travel and communication.

Auroville was conceived with the vision of enveloping the whole of humanity in one small area. This would show that the future would see an integrated world. The fourth founding principle of Auroville is that it will connect the spiritual and material approaches of the contemporary world. As the world progresses materially through science and technology, it will increasingly long for and need spiritual orientation for social order and stability.

At Auroville, the material and the spiritual, co-exist in harmony.

The fifth basic principle of Auroville is that it will be a place of un-ending learning and constant progress, so that it never stagnates.

The progress of humanity calls for continuous thinking and re-thinking, so that the human mind does not become frozen into one idea.

The very fact that Auroville has brought together such huge diversity of people and ideas makes dialogue and debate natural.

Indian society is fundamentally diverse. It has fostered dialogue and a philosophic tradition. Auroville show-cases this ancient Indian tradition to the world by bringing together global diversity.

India has always allowed mutual respect and co-existence of different religions and cultures. India is home to the age old tradition of Gurukul, where learning is not confined to classrooms; where life is a living laboratory. Auroville too has developed as a place of un-ending and life-long education.

In ancient times, our sages and ‘Rishis’ would perform ‘yagya’ to begin great endeavours. Occasionally, those yagyas would shape the course of history.

One such ‘Yagna’ for unity was performed here exactly 50 years ago. Men and Women brought soils from all parts of the world. In the mixing of the soils, began the journey of one-ness.

The world has received positive vibrations from Auroville, in many forms, over the years.

Be it un-ending education, environment regeneration, renewable energy, organic agriculture, appropriate building technologies, water management, or waste management. Auroville has been a pioneer.

You have done a lot to promote quality education in the country. On the occasion of 50 years of Auroville, I hope you can enhance your efforts in this direction. Serving young minds through education will be a big tribute to Sri Aurobindo and the Mother.

Many of you may not be aware, but I too, have been a follower of your efforts on education. Shri Kireet Bhai Joshi, an ardent disciple of Sri Aurobindo, and the Mother, was an eminent educationist.

He was also my Education Advisor, when I was the Chief Minister of Gujarat. He is not amongst us today. But his contribution to the field of education in India, is worth remembering.

Friends,

The Rig Veda states: “आनो भद्रा: क्रतवो यन्तु विश्वत:”; Let noble thoughts come to us from all sides.

May Auroville continue to come up with ideas to empower the ordinary citizens of this country.

May people from far and wide bring with them new ideas. May Auroville become the centre where these ideas are synthesized.

May Auroville serve as a beacon to the world.

May it be the guardian which calls for breaking down narrow walls of the mind. May it continue to invite everyone to celebrate the possibilities of humanity’s one-ness.

May the spirit of Maharishi Aurobindo and the Divine Mother, continue to guide Auroville to the eventual fulfilment of its lofty founding vision.

Thank You.

***

AKT/HS

Continuing its endeavour to promote India’s Heritage, Ministry of Culture is organising a week long diversified cultural carnival ‘Rashtriya Sanskriti Mahotsav’ in Madhya Pradesh that began at Maan Mandir Fort, Gwalior, today. The festival was inaugurated by Shri Narendra Singh Tomar, Minister of Rural Development, Panchayati Raj and Mines, Government of India in the presence of Cabinet Minister of Urban Development and Housing Minister (Madhya Pradesh) - Smt. Maya Singh, Minister of Higher Education - Shri Jaibhan Singh Pawaiya, New and Renewable Energy Minister – Shri Narayan Singh Kushwah, and Shri Vivek Narayan Shejwalkar, Mayor, Gwalior. To celebrate our plural traditions, under the Ek Bharat Shreshtha Bharat matrix Rashtriya Sanskriti Mahotsav in Madhya Pradesh is enjoined with Nagaland and Manipur as its pairing states.  The celebrated festival that began today, will continue to connect people of Gwalior with India’s rich culture tomorrow also and then will travel in the four cities of Madhya Pradesh i.e  Bhopal, Indore, Orchha and Shivpuri from 26th February to 4th March 2018.

Thanking Union Minister of State for Culture (I/C),Dr. Mahesh Sharma and appreciating efforts of Ministry of Culture for bringing this festival to the state of Madhya Pradesh, Shri Narendra Singh Tomar said, “Culture is the way we Indians live together and remain united. Our Culture is our identity – locally, nationally and globally and we need to regularly celebrate our local culture and cultural acumen and its interface with other cultural spheres around us in any of its manifestations.” He also said – “Rashtriya Sanskriti Mahotsav is strengthening the spirit of Ek Bharat Shreshth Bharat’s vision which will provide an opportunity to citizens specially youths to experience true spirit of Ek Bharat Shreshta Bharat.”

The inaugural day witnessed soulful performance of Invocation by Dhrupad Kendra, Gwalior, Dagarvani by Pandit Abhijeet Sukhdane with Pandit Sanjay Aagle on the Pakhawaj, and Mallick brothers from the Darbhanga Gharana of Drupad. The Seven Zonal Cultural Centers under the Ministry of Culture have been reposed with the task of organizing the RSM in Madhya Pradesh.

The festival showcases a titanic variety of tribal and classical art forms from different cities and towns across the country accompanied by dance, music, drama, entertainment and food. Maan Mandir, Fort Gwalior came live to food stalls, showcasing an assortment of regional cuisines. In addition, power- packed performances were delivered by different artists including folk, contemporary etc.

Guests experienced an unparalleled shopping journey viz handicrafts, cuisines, rangoli painting, sculpture, photography, documentation and performing arts- folk.

The second day of the Mahotsav in Gwalior will witness the performance by young maestros like Maestro Sumeet Anand from the Guahar Vani (Dhrupad tradition), Yakhlesh Baghel and Anuj Pratap Singh, (Dhrupad Jugalbandi) and RudraVeena recital by Ustad Bahauddin Dagar.

Apart from this, the other activities have also been planned by the Ministry of Culture during the RSM like Screening of films on the cultural traditions of Nagaland and Manipur and other North Eastern states. Exhibition on conservation of heritage by the Archaeological Survey of India. Food festival with traditional cuisines from different states with special focus on Nagaland and Manipur will take place from 10:00 a.m. to 9:00 p.m.

The Mahotsav will be spread across the following venues in Madhya Pradesh:

 

  The Man Mandir Fort and few other chosen venues at Gwalior

February 24-25

 The Indira Gandhi Rashtriya Manav Sangrahalaya at Bhopal

February 26-27

  The Lal Baag Palace at Indore

February 28

   Sheesh Mahal/Betwa river-side at Orchha

March 3

   Maharaja kiChhatri, Shivpuri

March 4

 

 

Rashtriya Sanskriti Mahotsav was conceived by the Ministry of Culture in the year 2015 and after the grand success of the First Rashtriya Sanskriti Mahotsav in November-2015, the Ministry of Culture decided to organize it with an intent to showcase the rich cultural heritage of the Country in all its rich and varied dimensions, viz Handicrafts, Cuisine, Painting, Sculpture, Photography, Documentation and Performing Arts-Folk, Tribal, Classical and Contemporary- all in one place. 

*****

NB/PS

 

 

 

 

Ladies and gentlemen,

On the occasion of the birth anniversary of SelviJayalalithaaji, I pay my tributes to her and extend my greetings and best wishes to all of you.Wherever she is, I am sure, she would be very happy, to see the happiness on your faces.

 I am glad, today, to be able to launch one of her dream projects– the Amma Two Wheeler Scheme. I am told, that on Amma's70 birth anniversary, seventy lakh plants will be planted across Tamil Nadu.These two initiatives will go a long way in the empowerment of women,and the protection of nature.

Friends.

When we empower the women in a family, we empower the entire house-hold.When we help with a woman's education, we ensure that the entire family is educated.When we facilitateher good health, we help keep the entire family healthy.When we secure her future, we secure the future of the entire home. We are working in this direction.

Friends.

The Union Government has focused on improving "Ease of Living"for the common citizen.All our schemes and programmes have been oriented towards this aim.Be it financial inclusion, easy availability of credit for farmers and small business,healthcare or sanitation, this is the basic mantra, with which the NDA Government at the Centre is working.

Over 11 crore loanshave been sanctioned under the Pradhan Mantri Mudra Yojana. An amount of 4 lakh, 60 thousand crore rupees has been given to people without any bank guarantee.And most importantly, seventy per cent of the beneficiaries are women.

The success of this scheme, therefore, is proof that the women of India are now stepping out of the age-old shackles, and seeking self-employment.We have taken a number of other steps too, for women empowerment. In the recent Union Budget, we announced that the EPF contribution for new women employees will be reduced from 12 percent to 8 percent for three years. The Employer contribution will remain 12 percent.

Under the Stand Up India scheme, women entrepreneurs will be given loans worth 10 lakh rupees to one crore rupees.We have also made a change in the Factory's Act, and suggested to States, that they allow women to work in the night shift as well. We have also extended maternity leave from 12 weeks to 26 weeks.

Under the Pradhan MantriAwaasYojana, the registry of the House is done in the name of the woman.

The Jan DhanYojana has also benefited women in a big way.Out of 31 croreJan Dhan Bank Accounts,16 crore are of women.

The percentage of total bank accounts held by women, has gone up from 28 percent in 2014, to 40 percent now.The Swachh Bharat Mission has given women respect and dignity, which is their right.Rural sanitation coverage in the country has expanded from 40 percent to 78 percent.We worked in a mission mode, to provide toilets for girl children in all government schools.

Friends.

 

The schemes of the Union Government are protecting nature, even as they are empowering people.29 crore LED bulbs have been distributed so far under the Ujala scheme.They have led to a saving of 15 thousand crore rupees in Electricity Bills. They have reduced carbon dioxide emissions by a significant amount.

The Union Government has so far given over 3.4 crore free gas connections under the UjjwalaYojana.As women benefit from a smoke-free environment,the reduction in kerosene usage is also helping the environment.Nine and a half lakh women in Tamil Nadu have benefited so far, from this scheme.

Keeping in mind, the issues of gas supply and sanitation in rural areas, the Union Government has come up with the Gobar-Dhanscheme.The aim is to convert animal

dung and agricultural waste into compost, bio-gas, and bio-CNG.This will raise incomes,and reduce expenditure on gas.

Friends.

More than 24 thousand crore rupees worth of projects are currently being implemented by the Centre, in Tamil Nadu.All these projects have begun after the NDA Government assumed office.They include solar power plants, crude oil pipelines National Highways, and port related works.More than three thousand, seven hundred crore rupees have been sanctioned for the Chennai Metro Rail.

When there was a Congress-led Government at the Centre, Tamil Nadu had received 81 thousand crore rupees under the 13th Finance Commission. After the NDA came to power, Tamil Nadu received One Lakh, 80 Thousand Crore rupees under the 14th Finance Commission.This is an increase of about one hundred and twenty percent.

The Government is working to provide a home to every poor person by 2022. About one crore houses have been built in the last three years.

Tamil Nadu has been given about 700 crore rupees in 2016-17, and about 200 crore rupees in 2017-18, for rural housing.For urban housing, the State has been given over 6000 crore rupees.

Friends.

Farmers in Tamil Nadu have also benefited from the Pradhan MantriFasalBimaYojana. I am told that claim amounts worth over 2600 crore rupees have been given to farmers in Tamil Nadu so far, under this scheme.

The Union Government is working towards modernization of fishing in Tamil Nadu Under the Blue Revolution Scheme, we are providing financial assistance to fishermen for long liner trawlers.Last year, we gave the State Government 100 crore rupees, to convert over seven hundred and fifty boats to long liner trawlers. Besides making their lives easier, such trawlers will also help the fishermen earn more.

 India's vast ocean resources, and long coast-line offer immense possibilities.The Union Government is workingon the Sagarmalaprogramme, to overhaul our logistics sector.This will reduce the cost of both domestic and foreigntrade.It will also benefit people living along India's coast-line.

We have announced the Ayushman Bharat scheme in the recent Union Budget.Each poor family will be given the facility of free medical treatmentupto a cost of 5 lakh rupees per year, at identified hospitals.This will help 45 to 50 crore people across the country.

The Pradhan MantriSurakshaBeemaYojana and the JeevanJyotiYojana have provided insurance cover to more than 18 crore people. We have also taken other steps such as providing medicines at economical rates, through more than 800 Jan AushadhiKendras.

We remain committed towards working hard in bringing a positive change in the lives of people.

 I once again pay my respectsto SelviJayalalithaaji.I wish you all the very best.

 

Thank you.

Thank you very much.

 

***

AKT/SH

 

The Vice President of India, Shri M. Venkaiah Naidu has said that industry should increase investments in agriculture as over 58 per cent of the rural households are dependent on agriculture in India. He was addressing the CII Partnership Summit 2018, in Vishakhapattanam, Andhra Pradesh today. The Chief Minister of Andhra Pradesh, Shri N. Chandrababu Naidu, the Union Minister for Commerce & Industry, Shri Suresh Prabhakar Prabhu, the Union Minister for Civil Aviation, Shri Ashok Gajapathi Raju Pusapati and other dignitaries are also seen.

The Vice President said asked investors to look into the tremendous potential for investments. He further said that value addition can be made in agriculture and allied sectors like dairying, fisheries, poultry, food processing, setting up of cold storage facilities and refrigerated vans. Adding value to the farm produce is crucial for increasing farmers income and establishing agri-related industries in the rural areas will not only provide employment but also help in minimizing migration to cities, he added.

The Vice President said that Vital structural reforms like the implementation of demonetization and GST by the Indian government have led to an expansion of the formal economy and brought about increased tax compliance. The number of people, who had filed Income Tax returns increased from 6.47 crore in 2014-15 to 8.27 crore at the end of 2016-17, he added.

The Vice President said that Indian companies need to identify segments of global value chains with higher value addition and low entry barriers in global markets to achieve higher exports in the short term. He further said that connecting to global value chains is critical for Indian MSMEs. Access to technology and internet can be a major factor to allow SMEs to integrate with the global market and e-trade allows SMES to reach out to new export avenues and access to low-cost imported inputs, he added.

The Vice President welcomed the delegates to the Sunrise State of Andhra Pradesh, which is among the top States in the Ease of Doing Business. He further said that this State is endowed with a rich vast mineral resources, long coastline, talented human resources and most importantly uninterrupted power supply. It is endowed with rich natural resources & mineral wealth and boasts of the second longest coastline of 974 kms in the country next to Gujarat and it has 1000km of National Highways, 3 International airports and 5 operational airports, he added.

Following is the text of Vice President's address:

"We have gathered here at a time when India has emerged as one of the growing large economies in the world and the global outlook also looks brighter.

As per the IMF World Economic Outlook of January 2018, the Indian economy is projected to grow at 7.2 per cent in 2017 and 7.7% in 2018.

India is expected to become the third largest economy in the next 10-15 years and grow from $2.3 trillion today to about $8 trillion, with an average income of over $5,000.

As you all are aware, the world economy has undergone tremendous structural shifts due to rising influence and role of the emerging economies across the globe. This has led to a shift of balance of powers between the global north and the global south. This is perhaps the most significant geo-political development of the recent times.

The emerging economies including countries like India, China and Brazil have evolved from being policy takers to policy makers and are playing a significant role in multilateral world bodies.

Vital structural reforms like the implementation of demonetization and GST by the Indian government have led to an expansion of the formal economy and brought about increased tax compliance. The number of people, who had filed Income Tax returns increased from 6.47 crore in 2014-15 to 8.27 crore at the end of 2016-17.

Any tough reform will face teething problems in the initial stages and the same was the case with both demonetization and GST. However, the long-term advantages will definitely outweigh the short-term hiccups which caused a bit of economic slowdown. Well, that period is over now and the economy is on the track to achieve a higher growth.

As a result of strong macro-economic fundamentals and reforms, the Indian economy has been improving steadily. For instance, the Current Account Deficit (CAD), which ranged between 6.8 per cent and 4.2 per cent in the past, is now in the range of 0.5 per cent to 1.5 per cent. Similarly, the Fiscal Deficit hovered between 5.9 per cent and 4.5 per cent earlier. Now, it has been brought down to 3.5 per cent. It could have been reduced to 3.2 per cent, but for shortfall of GST revenue by a month.

The major reforms include harmonization of indirect taxes through GST, easing the regulatory environment, facilitating foreign direct investment across all sectors, massive recapitalization of the public sector banks at Rs.2.11 lakh crore to improve credit growth and investment and the implementation of Insolvency and Bankruptcy Code, 2016.

Various reformatory measures have improved India’s ranking in the World Bank’s Ease of Doing Business by 30 slots—from 130 to 100.  Friends, today India has emerged as a bright spot in the global economy and investors from around the world are coming here because of a host of advantages the country offers.

The FDI inflows have increased steadily from US$ 45 billion in 2014-15 to touch US$ 60 billion in 2016-17. India’s exports have been recovering steadily over the last several months and grew at over 12 per cent in the first three quarters of 2017-18.

A key item on the reform agenda has been restructuring of the banking system to reduce the non-performing assets. The recently introduced Insolvency and Bankruptcy Code is being used by the RBI to speed up recoveries. Privatization as also sale of public sector units is being undertaken in many areas where the enterprises have been consistently making losses.

Apart from implementing reforms, the governments both at the national level and in various States are implementing measures to ensure a conducive atmosphere for businesses to grow. However, every reform should have a human face. There should be equitable distribution of prosperity and the fruits of development must reach the poorest of the poor.

Another area that is receiving top attention is infrastructure growth. Airports, ports, railways, power plants, roads, bridges and hotels, among others, are in an expansion mode. It is estimated that an investment of Rs 43 trillion is required over the next five years in sectors such as power, roads, ports and urban transportation.

India is a young nation with about 60 per cent of the population under the age of 35 years. Various initiatives like Skill India, Start-up India and Digital India have been launched to convert this huge, educated human resource talent into a “demographic dividend”.

India has become the third largest start up eco-system in the world. According to a NASSCOM report, about 1,000 start-ups were added in 2017 taking their number to nearly 5,200. Interestingly a chunk of these start-ups are from Tier-II and Tier-III cities.

With growing middle class, rising disposable incomes, expanding consumer market and the presence of a young, talented work force, the MNCs and other global giants are apparently looking to India. There is also a healthy competition among various State Governments, which are implementing reforms to attract investors.

Friends, another important area that needs the attention of both the government and investors is agriculture. Over 58 per cent of the rural households are dependent on agriculture in India, which is endowed with a vast agro-ecological diversity. There is tremendous potential for investments and value addition in agriculture and allied sectors like dairying, fisheries, poultry, food processing, setting up of cold storage facilities and refrigerated vans. As you all are aware, adding value to the farm produce is crucial for increasing farmers’ income. In view of the important role played by the food processing sector, the government has doubled the allocation to Rs.1,400 crore in this year’s budget. Establishing agri-related industries in the rural areas will not only provide employment but also help in minimizing migration to cities.

On the external front, the global economy is showing signs of pick-up after a prolonged phase of economic slowdown.  According to recent OECD report, global GDP is projected to show a modest rise to 3.5 % in 2017 and 3.7% in 2018 from 3.2% in 2016. Yet the projected rates for global growth are much below pre-crisis averages, especially for the advanced economies as well as commodity exporting countries. This could bring attendant repercussions which might undermine the nascent signs of growth revival.   

Already there are calls for protectionism from the advanced economies which, when implemented, could mean restrictive policies for cross-border trade and investment flows.

Although, India has a lot of trading agreements, both regional and bilateral, the country is yet to fully capitalize on the existing synergies in its Regional Trading Agreements. An example is the South Asian Free Trade Agreement (SAFTA) as South Asian region is the least integrated among all the regions in the world. The regional value chain (RVC) approach could be an appropriate model to foster intra-regional trade by deepening regional processes.

I feel the Indian companies need to identify segments of global value chains with higher value addition and low entry barriers in global markets to achieve higher exports in the short term.

In addition, connecting to global value chains (GVCs) is critical for Indian MSMEs. Access to technology and internet can be a major factor to allow SMEs to integrate with the global market. E-trade allows SMES to reach out to new export avenues and access to low-cost imported inputs.

Finally, I would like to welcome all of you to the Sunrise State of Andhra Pradesh, which is among the top States in the Ease of Doing Business. This State is endowed with a rich vast mineral resources, long coastline, talented human resources and most importantly uninterrupted power supply. Opportunities are aplenty for investors in different sectors, including pharmaceuticals, textiles, food processing, automobiles and electronics among others.

Andhra Pradesh, India’s Sunrise State, is a gateway to growing markets and promising opportunities with many advantages. One among the top states in the Ease of Doing Business.

It is endowed with rich natural resources & mineral wealth and boasts of the second longest coastline of 974 kms in the country next to Gujarat. It has 1000km of National Highways, 3 International airports and 5 operational airports. It has first river linking project. It has two industrial corridors. Its fast becoming a Pharam & Auto hub. It’s becoming a Solar power house with 1000MW installed and 1000 MW coming up.

India poised to be a $10tn eco by 2030, which is four times bigger than its current size, by 2030.

To achieve this country may have to adopt several unorthodox measures. For instance, with around 120 million people set to join the Indian workforce, skilling them in a short span of time is essential, “You cannot do that with conventional education, time frames of educating or imparting skill to people should be shortened” said Barton.

My best wishes for the success of all your endeavors to partner in India’s growth story.  Thank you.

 

JAI HIND!"

***

AKT/BK/RK

The Vice President of India, Shri M. Venkaiah Naidu has said that industry should increase investments in agriculture as over 58 per cent of the rural households are dependent on agriculture in India. He was addressing the CII Partnership Summit 2018, in Vishakhapattanam, Andhra Pradesh today. The Chief Minister of Andhra Pradesh, Shri N. Chandrababu Naidu, the Union Minister for Commerce & Industry, Shri Suresh Prabhakar Prabhu, the Union Minister for Civil Aviation, Shri Ashok Gajapathi Raju Pusapati and other dignitaries were present on the occasion.

 

The Vice President said asked investors to look into the tremendous potential for investments. He further said that value addition can be made in agriculture and allied sectors like dairying, fisheries, poultry, food processing, setting up of cold storage facilities and refrigerated vans. Adding value to the farm produce is crucial for increasing farmers income and establishing agri-related industries in the rural areas will not only provide employment but also help in minimizing migration to cities, he added.

 

The Vice President said that Vital structural reforms like the implementation of demonetization and GST by the Indian government have led to an expansion of the formal economy and brought about increased tax compliance. The number of people, who had filed Income Tax returns increased from 6.47 crore in 2014-15 to 8.27 crore at the end of 2016-17, he added.

 

The Vice President said that Indian companies need to identify segments of global value chains with higher value addition and low entry barriers in global markets to achieve higher exports in the short term. He further said that connecting to global value chains is critical for Indian MSMEs. Access to technology and internet can be a major factor to allow SMEs to integrate with the global market and e-trade allows SMES to reach out to new export avenues and access to low-cost imported inputs, he added.

 

The Vice President welcomed the delegates to the Sunrise State of Andhra Pradesh, which is among the top States in the Ease of Doing Business. He further said that this State is endowed with a rich vast mineral resources, long coastline, talented human resources and most importantly uninterrupted power supply. It is endowed with rich natural resources & mineral wealth and boasts of the second longest coastline of 974 kms in the country next to Gujarat and it has 1000km of National Highways, 3 International airports and 5 operational airports, he added.

 

Following is the text of Vice President's address:

 

"We have gathered here at a time when India has emerged as one of the growing large economies in the world and the global outlook also looks brighter.

 

As per the IMF World Economic Outlook of January 2018, the Indian economy is projected to grow at 7.2 per cent in 2017 and 7.7% in 2018.

 

India is expected to become the third largest economy in the next 10-15 years and grow from $2.3 trillion today to about $8 trillion, with an average income of over $5,000.

 

As you all are aware, the world economy has undergone tremendous structural shifts due to rising influence and role of the emerging economies across the globe. This has led to a shift of balance of powers between the global north and the global south. This is perhaps the most significant geo-political development of the recent times.

 

The emerging economies including countries like India, China and Brazil have evolved from being policy takers to policy makers and are playing a significant role in multilateral world bodies.

 

Vital structural reforms like the implementation of demonetization and GST by the Indian government have led to an expansion of the formal economy and brought about increased tax compliance. The number of people, who had filed Income Tax returns increased from 6.47 crore in 2014-15 to 8.27 crore at the end of 2016-17.

 

Any tough reform will face teething problems in the initial stages and the same was the case with both demonetization and GST. However, the long-term advantages will definitely outweigh the short-term hiccups which caused a bit of economic slowdown. Well, that period is over now and the economy is on the track to achieve a higher growth.

 

As a result of strong macro-economic fundamentals and reforms, the Indian economy has been improving steadily. For instance, the Current Account Deficit (CAD), which ranged between 6.8 per cent and 4.2 per cent in the past, is now in the range of 0.5 per cent to 1.5 per cent. Similarly, the Fiscal Deficit hovered between 5.9 per cent and 4.5 per cent earlier. Now, it has been brought down to 3.5 per cent. It could have been reduced to 3.2 per cent, but for shortfall of GST revenue by a month.

 

The major reforms include harmonization of indirect taxes through GST, easing the regulatory environment, facilitating foreign direct investment across all sectors, massive recapitalization of the public sector banks at Rs.2.11 lakh crore to improve credit growth and investment and the implementation of Insolvency and Bankruptcy Code, 2016.

 

Various reformatory measures have improved India’s ranking in the World Bank’s Ease of Doing Business by 30 slots—from 130 to 100.  Friends, today India has emerged as a bright spot in the global economy and investors from around the world are coming here because of a host of advantages the country offers.

 

The FDI inflows have increased steadily from US$ 45 billion in 2014-15 to touch US$ 60 billion in 2016-17. India’s exports have been recovering steadily over the last several months and grew at over 12 per cent in the first three quarters of 2017-18.

 

A key item on the reform agenda has been restructuring of the banking system to reduce the non-performing assets. The recently introduced Insolvency and Bankruptcy Code is being used by the RBI to speed up recoveries. Privatization as also sale of public sector units is being undertaken in many areas where the enterprises have been consistently making losses.

 

Apart from implementing reforms, the governments both at the national level and in various States are implementing measures to ensure a conducive atmosphere for businesses to grow. However, every reform should have a human face. There should be equitable distribution of prosperity and the fruits of development must reach the poorest of the poor.

 

Another area that is receiving top attention is infrastructure growth. Airports, ports, railways, power plants, roads, bridges and hotels, among others, are in an expansion mode. It is estimated that an investment of Rs 43 trillion is required over the next five years in sectors such as power, roads, ports and urban transportation.

 

India is a young nation with about 60 per cent of the population under the age of 35 years. Various initiatives like Skill India, Start-up India and Digital India have been launched to convert this huge, educated human resource talent into a “demographic dividend”.

 

India has become the third largest start up eco-system in the world. According to a NASSCOM report, about 1,000 start-ups were added in 2017 taking their number to nearly 5,200. Interestingly a chunk of these start-ups are from Tier-II and Tier-III cities.

 

With growing middle class, rising disposable incomes, expanding consumer market and the presence of a young, talented work force, the MNCs and other global giants are apparently looking to India. There is also a healthy competition among various State Governments, which are implementing reforms to attract investors.

 

Friends, another important area that needs the attention of both the government and investors is agriculture. Over 58 per cent of the rural households are dependent on agriculture in India, which is endowed with a vast agro-ecological diversity. There is tremendous potential for investments and value addition in agriculture and allied sectors like dairying, fisheries, poultry, food processing, setting up of cold storage facilities and refrigerated vans. As you all are aware, adding value to the farm produce is crucial for increasing farmers’ income. In view of the important role played by the food processing sector, the government has doubled the allocation to Rs.1,400 crore in this year’s budget. Establishing agri-related industries in the rural areas will not only provide employment but also help in minimizing migration to cities.

 

On the external front, the global economy is showing signs of pick-up after a prolonged phase of economic slowdown.  According to recent OECD report, global GDP is projected to show a modest rise to 3.5 % in 2017 and 3.7% in 2018 from 3.2% in 2016. Yet the projected rates for global growth are much below pre-crisis averages, especially for the advanced economies as well as commodity exporting countries. This could bring attendant repercussions which might undermine the nascent signs of growth revival.    

 

Already there are calls for protectionism from the advanced economies which, when implemented, could mean restrictive policies for cross-border trade and investment flows.

 

Although, India has a lot of trading agreements, both regional and bilateral, the country is yet to fully capitalize on the existing synergies in its Regional Trading Agreements. An example is the South Asian Free Trade Agreement (SAFTA) as South Asian region is the least integrated among all the regions in the world. The regional value chain (RVC) approach could be an appropriate model to foster intra-regional trade by deepening regional processes.

 

I feel the Indian companies need to identify segments of global value chains with higher value addition and low entry barriers in global markets to achieve higher exports in the short term.

 

In addition, connecting to global value chains (GVCs) is critical for Indian MSMEs. Access to technology and internet can be a major factor to allow SMEs to integrate with the global market. E-trade allows SMES to reach out to new export avenues and access to low-cost imported inputs.

 

Finally, I would like to welcome all of you to the Sunrise State of Andhra Pradesh, which is among the top States in the Ease of Doing Business. This State is endowed with a rich vast mineral resources, long coastline, talented human resources and most importantly uninterrupted power supply. Opportunities are aplenty for investors in different sectors, including pharmaceuticals, textiles, food processing, automobiles and electronics among others.

 

Andhra Pradesh, India’s Sunrise State, is a gateway to growing markets and promising opportunities with many advantages. One among the top states in the Ease of Doing Business.

 

It is endowed with rich natural resources & mineral wealth and boasts of the second longest coastline of 974 kms in the country next to Gujarat. It has 1000km of National Highways, 3 International airports and 5 operational airports. It has first river linking project. It has two industrial corridors. Its fast becoming a Pharam & Auto hub. It’s becoming a Solar power house with 1000MW installed and 1000 MW coming up.

 

India poised to be a $10tn eco by 2030, which is four times bigger than its current size, by 2030.

 

To achieve this country may have to adopt several unorthodox measures. For instance, with around 120 million people set to join the Indian workforce, skilling them in a short span of time is essential, “You cannot do that with conventional education, time frames of educating or imparting skill to people should be shortened” said Barton.

 

My best wishes for the success of all your endeavors to partner in India’s growth story.  Thank you.

 

JAI HIND!"

***

AKT/BK/RK

Indian scientists have developed a super critical carbon di oxide Brayton test loop facility that would help generate clean energy from future power plants including solar thermal. This next generation technology loop was developed indigenously by Indian Institute of Science, Bangalore.

This is India’s first test-bed for next generation, efficient, compact, waterless super critical carbon dioxide Brayton cycle test loop for power generation. The technology is perhaps the first test loop coupled with solar heat source in the world. 

This early stage research could potentially be useful for meeting the energy needs of the country. The new generation high efficiency power plants with closed cycle CO2 as the working fluid have the potential to replace steam based nuclear and thermal power plants, thus reducing the carbon foot print significantly.

The facility was inaugurated by Science & Technology Minister Dr Harsh Vardhan at the IISc campus in Bengaluru on Thursday.

“I am sure all these intense scientific efforts and collective endeavours would enable us to realise the vision of an affordable, efficient, compact, reliable Clean Energy systems which will be robust and suitable in diverse geographic conditions,” said Dr. Harsh Vardhan, while addressing the scientists. “We will be facilitating all such efforts and complementing and supplementing both in terms of technical knowledge and finances, wherever required.”

This test loop is designed to generate the necessary data for future development of scaled up S-CO2  power plants, which would require overcoming several technological challenges –developing critical components such as the turbine, compressor and heat exchangers that can work at the desired pressure and temperature ranges and using materials that can withstand these conditions.

This effort   has already been identified as a possible national initiative for the next generation of solar thermal power plants. This gives India an opportunity to become a world leader in this technology, and fulfil a major objective of the National Solar Mission which emphasizes indigenous manufacturing.

“This   breakthrough research could potentially be game changer for meeting the energy needs of the country in terms of higher efficiency and capacity at lower operating costs and size. I am sure this would result in research, development and demonstration of state-of-art tools, techniques and products which are of critical importance for our energy security,” said Dr Vardhan.

The minister announced plans to set up a research centre on Clean Coal Technologies at IISc. He said, the Science & Technology Ministry has already made an investment of Rs. 500 crores in research endeavours at IISc during the last three years.

Today’s thermal power plants use steam to carry heat away from the source and turn a turbine to generate power. However, it could generate more power if, instead of steam, supercritical CO2 (SCO2) is used. The term “supercritical” describes the state of carbon dioxide above its critical temperature of 31°C and critical pressure of 73 atmospheres making it twice as dense as steam.

In order to make this technology a reality, a research group at Interdisciplinary Center for Energy Research at Indian Institute of Science (ICER, IISc.)   has been set up - India’s first S-CO2 Brayton Cycle based solar thermal test loop at the laboratory scale.

The group has made tremendous progress and have developed optimized thermodynamic cycle designs, heat transfer and fluid flow codes for designing the test loop, critical components such as compact heat exchangers and solar receivers, and state -of-the-art instrumentation along with loop control sequence algorithm.

The efficiency of energy conversion could also be significantly increased─by as much as 50 percent or more─if S-CO2 is operated in a closed loop Brayton cycle. Besides increasing power generation and making the process more efficient, there are other advantages of using this new technology. Smaller turbines and power blocks can make the power plant cheaper, while higher efficiency would significantly reduce CO2 emissions for fossil fuel based plants. Moreover, if the power plant used solar or nuclear heat source, it would mean higher capacity at lower operating costs.

Prof. Pradip Dutta and Prof. Pramod Kumar of the Department of Chemical Engineering, IISc were the key scientists involved in this path-breaking innovation.

 

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SRD

Verano Capital, an American project developer headquartered in Santiago, announced  that the 47 MW solar project they initially developed was selected in Chile’s latest energy tender with a winning bid at $25.38/MWh, the lowest 24/7 block price combining solar and wind ever recorded in the history of energy tenders.

The twin-island state Antigua and Barbuda has taken a leading role in terms of clean energy supply in the Caribbean.

Tamarugal Solar Project in the Tarapacá region will provide reliable, non-intermittent electricity from solar energy 24-hours a day 

SolarXXL is an already well known and successful company for photovoltaics in Europe.

France’s EDF Renewable Energy (EN) has inaugurated the 146 MW Boléro solar plant in the Atacama Desert of Northern Chile, according to a press release.

Omron is ready to realise new photovoltaic business opportunities in Argentina.

ANNAPOLIS, Md., Feb. 23, 2018 /PRNewswire/ -- Hannon Armstrong Sustainable Infrastructure Capital, Inc. ("Hannon Armstrong," "we," "our" or the "Company") (NYSE: HASI), a capital and services provider focused on sustainable infrastructure markets that reduce climate changing greenhouse gas emissions ("GHG") as well as mitigating the impact of, or increasing resiliency to, climate change, today announced that management will be attending the upcoming conferences:

Morgan Stanley Utilities, Clean Tech and Midstream Energy Conference
Date: Tuesday, February 27, 2018
New York, New York

Bank of America Merrill Lynch 2018 Power, Gas and Solar Leaders Conference
Date: Wednesday, February 28, 2018
Boston, MA

Management will hold one-on-one and small group meetings with investors. A copy of the presentation that the Company will use for upcoming investor meetings is available on its website under, "HASI Investor Relations Presentation – February 2018."

About Hannon Armstrong

Hannon Armstrong (NYSE: HASI) is a capital and services provider to the sustainable infrastructure markets, focused on reducing climate changing greenhouse gas emissions ("GHG" or carbon emissions) as well as mitigating the impact of, or increasing resiliency to, climate change.  Our goal is to generate attractive returns for our stockholders by investing capital in assets that generate long-term, recurring and predictable cash flows or cost savings from proven technologies. We also provide services to the various partners and counterparties in the markets where we invest. Our management team has extensive relevant industry knowledge and experience, dating back more than 30 years. With scientific consensus that climate warming trends are linked to human activities and resulting in various extreme weather events, we believe our firm is well positioned to generate better risk-adjusted returns by investing in the assets, and providing services to the firms, that reduce carbon emissions. Further, with increasing weather-related events affecting certain areas of our markets, we see similar investment and services opportunities in infrastructure assets that mitigate the impact of, and increase the resiliency to, these weather events and climate change. We are based in Annapolis, MD.

Contact: Investor/Media Relations
Phone: 410-571-6189
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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SOURCE Hannon Armstrong Sustainable Infrastructure Capital, Inc.

Related Links

http://www.hannonarmstrong.com

JUNO BEACH, Fla., Feb. 23, 2018 /PRNewswire/ -- NextEra Energy, Inc. (NYSE: NEE) and NextEra Energy Partners, LP (NYSE: NEP) today announced that members of the senior management team are scheduled to participate in various investor meetings and conferences from late February through early March. They plan to discuss, among other things, long-term growth rate expectations for NextEra Energy and NextEra Energy Partners.

Investors and other interested parties are able to access a copy of the presentation at www.NextEraEnergy.com/investors or www.NextEraEnergyPartners.com, beginning at 4:30 p.m. on Feb. 23, 2018.

NextEra Energy, Inc.
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company with consolidated revenues of approximately $17.2 billion, operates approximately 46,790 megawatts of net generating capacity and employs approximately 14,000 people in 33 states and Canada as of year-end 2017. Headquartered in Juno Beach, Florida, NextEra Energy's principal subsidiaries are Florida Power & Light Company, which serves approximately 5 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the United States, and NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun. Through its subsidiaries, NextEra Energy generates clean, emissions-free electricity from eight commercial nuclear power units in Florida, New Hampshire, Iowa and Wisconsin. A Fortune 200 company and included in the S&P 100 index, NextEra Energy has been recognized often by third parties for its efforts in sustainability, corporate responsibility, ethics and compliance, and diversity, and has been ranked No. 1 in the electric and gas utilities industry in Fortune's 2018 list of "World's Most Admired Companies." For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.

NextEra Energy Partners, LP
NextEra Energy Partners, LP (NYSE: NEP) is a growth-oriented limited partnership formed by NextEra Energy, Inc. (NYSE: NEE). NextEra Energy Partners acquires, manages and owns contracted clean energy projects with stable, long-term cash flows. Headquartered in Juno Beach, Florida, NextEra Energy Partners owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The renewable energy projects are fully contracted, use industry-leading technology and are located in regions that are favorable for generating energy from the wind and sun. The seven natural gas pipelines in the portfolio are all strategically located, serving power producers and municipalities in South Texas, processing plants and producers in the Eagle Ford Shale, and commercial and industrial customers in the Houston area. The NET Mexico Pipeline, the largest pipeline in the portfolio, provides a critical source of natural gas transportation for low-cost, U.S.-sourced shale gas to Mexico. For more information about NextEra Energy Partners, please visit: www.NextEraEnergyPartners.com.

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SOURCE NextEra Energy, Inc. and NextEra Energy Partners, LP

BETHEL, Conn., Feb. 23, 2018 /PRNewswire/ -- Solar-Log's Anthony Conklin has been invited by Solarplaza to speak at the upcoming Solar Asset Management North America conference in San Francisco, CA. Conklin will discuss solar plus storage monitoring in the session First Lessons Regarding O&M and Asset Management for Storage, scheduled for March 13th.  

On March 13th & 14th, 2018, Solarplaza will host the 5th annual edition of the leading conference dedicated to the operational phase of solar plants and portfolios. Covering technical and financial topics, which range from performance optimization to refinancing and secondary market. The conference agenda includes breakout sessions where attendees will learn from 90+ industry experts about the latest developments in solar asset management.  

First Lessons Regarding O&M and Asset Management for Storage will include:

  • How to hierarchically integrate and manage storage to improve operations
  • Maintenance guidelines and strategies: to what degree can storage be optimized
  • Information on performance data and defining scope of work
  • Avoiding the mistakes of the past

"I believe that the future of solar is solar plus storage," says Anthony Conklin, President of Solar Data Systems, Inc. (Solar-Log®), "It is important to stay ahead of the trends in technology and the solar industry is no exception to that. We are mindful of the shift going towards battery storage and as a performance monitoring tool, we have the ability to give users a birds-eye view to track both energy flow and battery state-of-charge."

Solar-Log® has been leading the industry in solar PV monitoring technology for more than 12 years and was recently named one of the global leaders in Home Energy Management Systems by Navigant Research*. Solar-Log® continues to hold the position as the top Independent Software Vendor for residential and commercial monitoring, according to GTM Research**.

Sources:
* Navigant Research Leaderboard: Residential Solar Monitoring and HEMS: https://www.navigantresearch.com/research/navigant-research-leaderboard-residential-solar-monitoring-and-hems
**Global PV Monitoring 2017-2022: Markets, Trends and Leading Players: https://www.greentechmedia.com/research/report/global-pv-monitoring-2017-2022-markets-trends-and-leading-players

About Solar Data Systems, Inc. and Solare Datensysteme GmbH

Solar Data Systems, Inc. is a fully owned subsidiary of Solare Datensysteme GmbH, manufacturer of Solar-Log® web-enabled monitoring and metering solutions for photovoltaic plants. Solar-Log® is a global market leader with over 274,000 plants monitored world-wide, with a generating power of 12.3 GWp. The Solar-Log® product family monitors plant performance, integrates yield forecasting, provides real-time error detection, automatic status information, and offers revenue-grade metering for incentive reporting. This industry-leading functionality maximizes PV plant performance, optimizes self-consumption, provides intelligent grid feed-in controls, and best-in-class PV plant fleet management. Solare Datensysteme GmbH is based in Binsdorf, Germany and is a subsidiary of BKW AG (Bern, Switzerland) – a global company for energy and infrastructure.

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SOURCE Solar Data Systems, Inc.

The Global Microgrid Market is poised for strong growth during the forecast period 2017 to 2027.

This industry report analyzes the market estimates and forecasts of all the given segments on global as well as regional levels presented in the research scope. The study provides historical market data for 2015, 2016 revenue estimations are presented for 2017 and forecasts from 2018 till 2027.

The study focuses on market trends, leading players, supply chain trends, technological innovations, key developments, and future strategies for the existing players, new entrants and the future investors.

Some of the prominent trends that the market is witnessing include growing demand for power in emerging economies, rapid growth for microgrids in healthcare and military industries, recent technological developments of microgrid and growth opportunities/investment opportunities.

Report Highlights:

  • The report provides a detailed analysis on current and future market trends to identify the investment opportunities
  • Market forecasts till 2027, using estimated market values as the base numbers
  • Key market trends across the business segments, Regions and Countries
  • Key developments and strategies observed in the market
  • Market Dynamics such as Drivers, Restraints, Opportunities and other trends
  • In-depth company profiles of key players and upcoming prominent players
  • Growth prospects among the emerging nations through 2027
  • Market opportunities and recommendations for new investments

Key Topics Covered:

1 Market Outline
1.1 Research Methodology
1.2 Market Trends
1.3 Regulatory Factors
1.4 Application Analysis
1.5 Strategic Benchmarking
1.6 Opportunity Analysis

2 Executive Summary

3 Market Overview
3.1 Current Trends
3.1.1 Growing demand for power in emerging economies
3.1.2 Rapid growth for microgrids in Healthcare and Military industries
3.1.3 Recent technological developments of Microgrid
3.1.4 Growth Opportunities/Investment Opportunities
3.2 Drivers
3.3 Constraints
3.4 Industry Attractiveness

4 Microgrid Market, By Power Source
4.1 Combined Heat & Power
4.2 Natural Gas
4.3 Solar PV
4.4 Diesel generators
4.5 Fuel Cell
4.6 Other Power Sources

5 Microgrid Market, By Connectivity
5.1 Off-Grid
5.2 Grid connected

6 Microgrid Market, By Storage Device
6.1 Flow battery
6.2 Lead acid
6.3 Lithium-ion
6.4 Flywheel
6.5 Other Storage Devices

7 Microgrid Market, By Grid Type
7.1 Hybrid
7.2 AC Microgrid
7.3 DC Microgrid

8 Microgrid Market, By Application
8.1 Remote
8.2 Utility
8.3 Educational Institutes
8.4 Industrial/Commercial
8.5 Military
8.6 Healthcare
8.7 Other Applications

9 Microgrid Market, By Geography

10 Key Player Activities
10.1 Mergers & Acquisitions
10.2 Partnerships, Joint Venture's, Collaborations and Agreements
10.3 Product Launch & Expansions
10.4 Other Activities

11 Leading Companies
11.1 Emerson Electric Co.
11.2 Exelon Corporation
11.3 Viridity Energy, Inc
11.4 Advanced Microgrid Solutions
11.5 Homer Energy LLC
11.6 Honeywell International
11.7 Schneider Electric
11.8 Eaton Corporation
11.9 ABB Ltd
11.10 Hitachi Ltd
11.11 Lockheed Martin Corporation
11.12 EnSync Inc.
11.13 Power Analytics Corporation
11.14 GE Alstom
11.15 Caterpillar Inc.
11.16 Siemens
11.17 General Electric

For more information about this report visit https://www.researchandmarkets.com/research/b7trzk/global_microgrid?w=5

Media Contact:

Research and Markets
Laura Wood, Senior Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
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SOURCE Research and Markets

Related Links

http://www.researchandmarkets.com

WASHINGTON, Feb. 23, 2018 /PRNewswire-USNewswire/ -- Veteran NASA astronauts Ricky Arnold and Drew Feustel will be available Thursday, March 1, for final interviews before their launch to the International Space Station. The interviews will air live on NASA Television and the agency's website.

Arnold will be available from 6 to 7 a.m. EST, and Feustel will be available from 7:30 to 8:30 a.m. The satellite interviews will originate from the Gagarin Cosmonaut Training Center in Star City, Russia, where Arnold and Feustel are undergoing final training and evaluation for their mission. NASA TV will air highlights of their training and previous missions from 5:30 to 6 a.m. and 7 to 7:30 a.m.

To interview Arnold or Feustel, media must contact Karen Svetaka at 281-483-8684 or This email address is being protected from spambots. You need JavaScript enabled to view it. no later than 3 p.m. Tuesday, Feb. 27. Media participating in the interviews must tune to the NASA TV Media Channel (NTV-3). Satellite tuning information is available at:

http://go.nasa.gov/1pOWUhR 

Arnold and Feustel, along with cosmonaut Oleg Artemyev of the Russian space agency Roscosmos, will travel March 4 from Star City to Baikonur, Kazakhstan, for final pre-launch preparations. They are scheduled for a March 21 launch from the Baikonur Cosmodrome aboard the Russian Soyuz MS-08 spacecraft.

After a two-day journey, they will arrive at the station and join fellow NASA astronaut Scott Tingle, Expedition 55 Commander Anton Shkaplerov of Roscosmos, and Norishige Kanai of the Japan Aerospace Exploration Agency.

During a planned five-month mission, the crew will take part in about 250 space station science investigations and technology demonstrations to advance our knowledge of Earth, space, physical and biological sciences. Science conducted in the orbiting laboratory continues to yield benefits for humanity and will enable future long-duration human and robotic exploration into deep space.

NASA selected Arnold as an astronaut in 2004. The Maryland native worked in marine sciences and as a teacher in his home state and overseas, in countries including Morocco, Saudi Arabia, and Indonesia. He spent 12 days, 19 hours and 29 minutes in space during space shuttle Discovery's STS-119 mission to deliver the final pair of power-generating solar array wings and a truss element for the space station. During that assembly mission to the station, he conducted two spacewalks totaling 12 hours, 34 minutes.

Arnold will continue NASA's Year of Education on Station, arriving at the station shortly after NASA astronaut and former educator Joe Acaba departs. Arnold will participate in dozens of educational events while on orbit.

Feustel, a Michigan native, was selected as an astronaut in 2000, and has flown on two space shuttle flights. In 2009, he served on space shuttle mission STS-125, the final servicing mission for NASA's Hubble Space Telescope. Feustel also served on STS-134, the final flight of space shuttle Endeavour, to deliver the Alpha Magnetic Spectrometer to the space station. He has logged more than 29 days in space and more than 42 hours on six spacewalks.

Arnold, Feustel and Artemyev are scheduled to return to Earth in late August.

Follow Feustel on social media at:

https://twitter.com/Astro_Feustel 

and

https://www.instagram.com/astro_feustel  

Follow Arnold on social media at:

https://twitter.com/astro_ricky 

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SOURCE NASA

Related Links

http://www.nasa.gov

QUAKERTOWN, Pa., Feb. 23, 2018 /PRNewswire-USNewswire/ -- QuantumClean and ChemTrace will exhibit at SEMICON China 2018 at the Shanghai New International Expo Centre from March 14 - 16 (booth 2707). 

"QuantumClean's ultra-high purity semiconductor process chamber parts cleaning, coating and analytical testing centers help our fab, OEM and OPM customers REDUCE cost-of-ownership.  Analytically validated ultraclean parts result in FASTER chamber recovery and LONGER Mean Time Between Cleans.  Optimized cleaning methods and proprietary recoating technologies EXTEND part life.  Lean production lines deliver FAST part turnaround times resulting in REDUCED inventory costs.  We are the only firm to offer ultra-high purity chamber part cleaning validated by a Certificate of Analysis from an accredited laboratory — ChemTrace", explains Scott Nicholas, President and CEO.

"ChemTrace operates under rigorous quality assurance standards and is independently ISO 17025:2005 certified.  This year, we celebrate 25 years of semiconductor process related microcontamination analytical excellence of chamber parts, wafers, cleanroom materials, ultra-pure water, high-purity and complex chemicals", states Surjany Russell, Director of Sales.

Visit our booth to learn how our service offerings can bring improvement to your operation by solving critical process chamber manufacturing and related challenges.

ChemTrace® and QuantumClean® are divisions of Quantum Global Technologies, LLC headquartered in suburban Philadelphia, Pennsylvania USA.

QuantumClean is the global leader in sub-10nm ultra-high purity outsourced process tool chamber parts cleaning and coating services, tool part life extension and process tool part optimization solutions to the semiconductor wafer fabrication, OEM and OPM industries.

Founded in 2000, QuantumClean operates innovative Advanced Technology Cleaning Centers® built on the premise of providing customers process improvement through consistently cleaner parts® that exceed industry standards.  These solutions dramatically reduce our customers' total cost-of-ownership.  With 1,500 employees in 20 facilities located in 8 countries, QuantumClean provides unsurpassed cleaning capability and convenience worldwide.  quantumclean.com

For 25 years, ChemTrace has provided independent and analytical verification of process tool chamber part cleaning effectiveness.  Recognized as the leading reference analytical testing laboratory for the semiconductor, solar and related industries, ChemTrace has the solutions for FAB, OEM and OPM's critical cleaning issues and requirements.  With more than 100 employees in 5 labs located in 3 countries, ChemTrace offers unsurpassed microcontamination analysis and local convenience.  chemtrace.com

Media Contacts

QuantumClean: Meg Cox, +1-215-892-9300, This email address is being protected from spambots. You need JavaScript enabled to view it.

ChemTrace: Robin Puri, +1-503-251-0979, This email address is being protected from spambots. You need JavaScript enabled to view it.

QuantumClean, ChemTrace, Advanced Technology Cleaning Centers, ATCC, Process Improvement through Consistently Cleaner Parts, Single Part Chemical Clean and SPCC are all registered trademarks of Quantum Global Technologies, LLC.

ACS, Atomically Clean Surfaces, Alternative TWAS, Analytical & Engineering Services, C-Coat, Cleancoat, Cleaning, Coating & Testing Center of Excellence, Environmentally Clean Process, ECP, Final Surface Finish, FSF, QGT, M-Coat, PartSmart, PT3, QualClean, Selective Deposition Removal, SDR, Service Request form, SRF, Solution Based Chemistry, TechBriefs, The Perfect Order, The Perfect Qual, The Perfect Process Transfer, Tight-Coat, V-Clean, VeriClean, Waterless Acid, Y-Coat, Z-Coat, Smart, Lean, Clean and Green, Center of Excellence and Validated Ultra-High Purity. Maximum Productivity are all trademarks of Quantum Global Technologies, LLC.

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/quantumclean-and-chemtrace-to-exhibit-at-semicon-china-2018-300603408.html

SOURCE QuantumClean-ChemTrace

Related Links

http://www.chemtrace.com/
http://www.quantumclean.com/

SHANGHAI, Feb. 20, 2018 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that the underwriters of its previously announced follow-on offering of 3,600,000 American depositary shares (the "ADSs"), each representing four ordinary shares of the Company, par value US$0.00002 per share (the "ADS Offering"), have fully exercised their over-allotment option to purchase an additional 540,000 ADSs at US$18.15 per ADS. After giving effect to the full exercise of the over-allotment option, the total number of ADSs sold in the ADS Offering increased to 4,140,000 ADSs and the net proceeds to the Company, after deducting underwriting commissions and fees and estimated offering expenses, increased to approximately US$71.1 million. The exercise of the over-allotment option is expected to close on February 21, 2018, subject to customary closing conditions.

Credit Suisse Securities (USA) LLC and Barclays Capital Inc. are acting as the joint bookrunners for the ADS Offering.

JinkoSolar intends to use the net proceeds from the ADS Offering for general corporate purposes, including capital expenditures for the capacity expansion and upgrade including the construction and operation of our manufacturing facility in the United States, and working capital.

The ADS Offering has been made pursuant to the Company's shelf registration statement on a Form F-3 filed with the Securities and Exchange Commission (the "SEC") on August 11, 2017, which became effective on August 22, 2017. A prospectus supplement dated February 8, 2018 and a related base prospectus (included in the Company's shelf registration statement on Form F-3) related to the ADS Offering have been filed with the SEC and are available at the SEC website at: www.sec.gov. A copy of the prospectus supplement and the related base prospectus may be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY, 10010, by phone at (800) 221-1037, or by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it.; and Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by phone toll free at 1-888-603-5847, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. This press release contains information about the ADS Offering, and there can be no assurance that the full exercise of over-allotment option in the ADS Offering will be completed.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8.0 GW for silicon wafers, 5.0 GW for solar cells, and 8.0 GW for solar modules, as of December 31, 2017.

JinkoSolar has over 15,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales offices in China, Hong Kong, Japan, India, Turkey, Germany, Switzerland, United States, Brazil, Chile, Australia, South Africa and United Arab Emirates.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China: 
Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Christian Arnell
Christensen
Tel: +86-10-5900-2940
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

In the U.S.:
Ms. Linda Bergkamp
Christensen
Tel: +1-480-614-3004
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Cision View original content:http://www.prnewswire.com/news-releases/jinkosolar-announces-full-exercise-of-over-allotment-option-in-follow-on-offering-300600983.html

SOURCE JinkoSolar Holding Co., Ltd.

SHANGHAI, Feb. 12, 2018 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that it closed the follow-on offering of 3,600,000 American depositary shares (the "ADSs"), each representing four ordinary shares of the Company, par value US$0.00002 per share  (the "ADS Offering"), at US$18.15 per ADS.

Credit Suisse Securities (USA) LLC and Barclays Capital Inc. are acting as the joint bookrunners for the ADS Offering. The Company has granted Credit Suisse Securities (USA) LLC and Barclays Capital Inc. a 30-day option to purchase up to 540,000 additional ADSs to cover over-allotments.

Concurrently with the completion of the ADS Offering, the Company closed the separate private placement with Tanka International Limited, an exempted company incorporated in the Cayman Islands held by Mr. Xiande Li, chairman of the Company, and Mr. Kangping Chen, chief executive officer of the Company, of its purchase of US$35 million of ordinary shares of the Company at a price per share equal to the price of the ADS Offering adjusted to reflect the ADS-to-ordinary share ratio (the "Concurrent Private Placement"). The sale of these shares will not be registered under the Securities Act of 1933, as amended. Credit Suisse Securities (USA) LLC and Barclays Capital Inc. are acting as the joint placement agents for the Concurrent Private Placement.

JinkoSolar intends to use the net proceeds from the ADS Offering and the Concurrent Private Placement for general corporate purposes, including capital expenditures for the capacity expansion and upgrade including the construction and operation of our manufacturing facility in the United States, and working capital.

The ADS Offering has been made pursuant to the Company's shelf registration statement on a Form F-3 filed with the Securities and Exchange Commission (the "SEC") on August 11, 2017, which became effective on August 22, 2017. A prospectus supplement dated February 8, 2018 and a related base prospectus (included in the Company's shelf registration statement on Form F-3) related to the ADS Offering have been filed with the SEC and are available at the SEC website at: www.sec.gov. A copy of the prospectus supplement and the related base prospectus may be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY, 10010, by phone at (800) 221-1037, or by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it.; and Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by phone toll free at 1-888-603-5847, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. This press release contains information about the pending ADS Offering and Concurrent Private Placement, and there can be no assurance that these offerings will be completed.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8.0 GW for silicon wafers, 5.0 GW for solar cells, and 8.0 GW for solar modules, as of December 31, 2017.

JinkoSolar has over 15,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales offices in China, Hong Kong, Japan, India, Turkey, Germany, Switzerland, United States, Brazil, Chile, Australia, South Africa and United Arab Emirates.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China: 
Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Christian Arnell
Christensen
Tel: +86-10-5900-2940
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

In the U.S.:
Ms. Linda Bergkamp
Christensen
Tel: +1-480-614-3004
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Cision View original content:http://www.prnewswire.com/news-releases/jinkosolar-announces-closing-of-follow-on-offering-of-3600000-american-depositary-shares-and-us35-million-concurrent-private-placement-300596880.html

SOURCE JinkoSolar Holding Co., Ltd.

SHANGHAI, Feb. 8, 2018 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. (NYSE: JKS) ("JinkoSolar"), a global leader in the solar PV industry, today announced that it provided solar modules for the Flex House, presented by Green Builder® Media and built by Shelter Dynamics, exhibited at the Consumer Electronics Show (CES) in Las Vegas, Nevada.

The Flex House, a net-zero, 760 square foot smart home provides a compelling vision of sustainable compact living with all of the creature comforts modern urbanites are accustomed to. It comes with a full suite of smart home functions and sustainable fixtures all integrated with Amazon Alexa. The Flex House also incorporated electrical vehicle charging, with a Bosch charging station and a Toyota Prius Prime.  

The Flex House is entirely powered by a solar plus storage system using a series of all-black JinkoSolar high-efficiency monocrystalline PERC modules and a backup battery system that maximizes the house's power generating ability despite its compact size. The off-grid home was one of the only exhibits at CES, the world's largest electronics show, that remained fully powered during the massive power outage that took place at the Las Vegas Convention Center, demonstrating its potential real life application. The Flex House is expected to be available on the market later this year, with base models ranging from $125,000 to $150,000. 

"Our vision has always been to increase the use of renewables in the world's energy mix and that goes beyond just changing the way power is generated. It is also about optimizing the way we consume electricity and the overall ecosystem around that consumption," said Mr. Xiande Li, JinkoSolar Chairman. "Green Builder Media clearly shares this vision, and we are pleased to be part of the Flex House. As a global leader in the solar PV industry, we are thrilled to be included in the smart home conversation with global brands like Amazon, Bosch, and Toyota." 

"As the global population continues to grow and space and resources become more scarce, we're going to need different types of housing solutions," said Ms. Sara Gutterman, CEO of Green Builder Media. "The Flex House exemplifies the type of small-footprint, intelligent, sustainable, and solar-powered homes that we need to start embracing. JinkoSolar understands the need for a new housing solution and is undoubtedly positioned to be an essential part of next generation, smart homes."

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8 GW for silicon wafers, 5 GW for solar cells, and 8 GW for solar modules, as of December 31, 2017.

JinkoSolar has over 15,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales teams in United Kingdom, Bulgaria, Greece, Romania, Jordan, Saudi Arabia, South Africa, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Panama, Argentina.

To find out more, please see: www.jinkosolar.com.

About Green Builder Media

Green Builder® Media, LLC is the leading media company in the North American residential building industry focused exclusively on green building and responsible growth. With a comprehensive suite of print media, online options, demonstration homes, case studies, training and education vehicles, and live events, Green Builder Media assists building professionals prepare themselves for the new green economy.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:

Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Cision View original content:http://www.prnewswire.com/news-releases/jinkosolar-powers-the-flex-house-at-ces-300595705.html

SOURCE JinkoSolar Holding Co., Ltd.

SHANGHAI, Feb. 7, 2018 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced that it priced the follow-on offering of 3,600,000 American depositary shares (the "ADSs"), each representing four ordinary shares of the Company, par value US$0.00002 per share (the "ADS Offering"), at US$18.15 per ADS. The ADS Offering, which is subject to customary closing conditions, is expected to close on February 9, 2018.

Credit Suisse Securities (USA) LLC and Barclays Capital Inc. are acting as the joint bookrunners for the ADS Offering. The Company has granted Credit Suisse Securities (USA) LLC and Barclays Capital Inc. a 30-day option to purchase up to 540,000 additional ADSs to cover over-allotments.

Concurrently with, and subject to, the completion of the ADS Offering, Tanka International Limited, an exempted company incorporated in the Cayman Islands held by Mr. Xiande Li, chairman of the Company, and Mr. Kangping Chen, chief executive officer of the Company, has agreed to purchase US$35 million of ordinary shares of the Company in a separate private placement at a price per share equal to the price of the ADS Offering adjusted to reflect the ADS-to-ordinary share ratio (the "Concurrent Private Placement"). The sale of these shares will not be registered under the Securities Act of 1933, as amended. Credit Suisse Securities (USA) LLC and Barclays Capital Inc. are acting as the joint placement agents for the Concurrent Private Placement.

JinkoSolar intends to use the net proceeds from the ADS Offering and the Concurrent Private Placement for general corporate purposes, including capital expenditures for the capacity expansion and upgrade including the construction and operation of our manufacturing facility in the United States, and working capital.

The ADS Offering is being made pursuant to the Company's shelf registration statement on a Form F-3 filed with the Securities and Exchange Commission (the "SEC") on August 11, 2017, which became effective on August 22, 2017. A preliminary prospectus supplement dated February 6, 2018 and a related base prospectus (included in the Company's shelf registration statement on Form F-3) related to the ADS Offering have been filed with the SEC and are available at the SEC website at: www.sec.gov. A copy of the preliminary prospectus supplement and the related base prospectus may be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY, 10010, by phone at (800) 221-1037, or by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it.; and Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by phone toll free at 1-888-603-5847, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. This press release contains information about the pending ADS Offering and Concurrent Private Placement, and there can be no assurance that these offerings will be completed.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8.0 GW for silicon wafers, 5.0 GW for solar cells, and 8.0 GW for solar modules, as of December 31, 2017.

JinkoSolar has over 15,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales offices in China, Hong Kong, Japan, India, Turkey, Germany, Switzerland, United States, Brazil, Chile, Australia, South Africa and United Arab Emirates.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China: 
Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Christian Arnell
Christensen
Tel: +86-10-5900-2940
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

In the U.S.:
Ms. Linda Bergkamp
Christensen
Tel: +1-480-614-3004
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Cision View original content:http://www.prnewswire.com/news-releases/jinkosolar-announces-pricing-of-follow-on-offering-of-3600000-american-depositary-shares-and-us35-million-concurrent-private-placement-300595024.html

SOURCE JinkoSolar Holding Co., Ltd.

SHANGHAI, Feb. 6, 2018 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. ("JinkoSolar" or the "Company") (NYSE: JKS), a global leader in the solar PV industry, today announced the commencement of the follow-on offering of 3,600,000 American depositary shares (the "ADSs"), each representing four ordinary shares of the Company, at par value US$0.00002 per share (plus up to an additional 540,000 ADSs pursuant to an over-allotment option) (the "ADS Offering"). The ADS Offering is subject to market conditions and other factors.

Credit Suisse Securities (USA) LLC and Barclays Capital Inc. are acting as the joint bookrunners for the ADS Offering.

Concurrently with, and subject to, the completion of the ADS Offering, Tanka International Limited, an exempted company incorporated in the Cayman Islands held by Mr. Xiande Li, chairman of the Company, and Mr. Kangping Chen, chief executive officer of the Company, has agreed to purchase US$35 million of ordinary shares of the Company in a separate private placement at a price per share equal to the price of the ADS Offering adjusted to reflect the ADS-to-ordinary share ratio (the "Concurrent Private Placement"). The sale of these shares will not be registered under the Securities Act of 1933, as amended. Credit Suisse Securities (USA) LLC and Barclays Capital Inc. are acting as the joint placement agents for the Concurrent Private Placement.

The ADS Offering will be made pursuant to the Company's shelf registration statement on a Form F-3 filed with the Securities and Exchange Commission (the "SEC") on August 11, 2017, which became effective on August 22, 2017. A preliminary prospectus supplement dated February 6, 2018 and a related base prospectus (included in the Company's shelf registration statement on Form F-3) related to the ADS Offering have been filed with the SEC and are available at the SEC website at: www.sec.gov. A copy of the preliminary prospectus supplement and the related base prospectus may be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY, 10010, by phone at (800) 221-1037, or by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it.; and Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by phone toll free at 1-888-603-5847, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. This press release contains information about the pending ADS Offering and Concurrent Private Placement, and there can be no assurance that these offerings will be completed.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 8.0 GW for silicon wafers, 5.0 GW for solar cells, and 8.0 GW for solar modules, as of December 31, 2017.

JinkoSolar has over 15,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales offices in China, Hong Kong, Japan, India, Turkey, Germany, Switzerland, United States, Brazil, Chile, Australia, South Africa and United Arab Emirates.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China: 
Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Christian Arnell
Christensen
Tel: +86-10-5900-2940
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

In the U.S.:
Ms. Linda Bergkamp
Christensen
Tel: +1-480-614-3004
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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SOURCE JinkoSolar Holding Co., Ltd.

SHANGHAI, Feb. 2, 2018 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. (NYSE: JKS) (the "Company," or "JinkoSolar"), a global leader in the solar PV industry, today announced that its world record breaking 1177 MW Sweihan project, co-developed by JinkoSolar, Marubeni, and the Abu Dhabi Electricity and Water Authority ("ADEWA"), was named as the Large Scale Solar Project of the Year by the Middle East Solar Industry Association (MESIA). 

The award is one of theMiddle East's most recognized honors and further demonstrates the significance of the Sweihan project. The winning project was selected by a panel of nine judges from across the industry who assessed the impact and innovativeness of large scale solar projects in the Middle East. Once complete, the 1177 MW Sweihan project will be the world's largest PV power plant.

The Sweihan project's large scale and competitive electricity generation cost was benefit from the utilization of JinkoSolar high efficiency solar modules. Given the limited physical space allotted to the project, the use of JinkoSolar high efficiency modules not only allowed for the maximization of electricity output, but also allowed for decreased balance of system costs. 

Mr. Xiande Li, Chairman of JinkoSolar, commented, "The Sweihan project marks not only a milestone for JinkoSolar, Marubeni, and ADEWA, but is also a giant leap for the global solar power industry as a whole. MESIA's recognition of this project further underlines the ground-breaking nature of the Sweihan project. Fueled by the success of this project, we will continue to produce cutting-edge high efficiency modules to fulfill our vision of optimizing the world's energy infrastructure with clean solar power."

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 7 GW for silicon ingots and wafers, 4.5 GW for solar cells, and 8 GW for solar modules, as of September 30, 2017.

JinkoSolar has over 15,000 employees across its 8 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales teams in United Kingdom, Bulgaria, Greece, Romania, Jordan, Saudi Arabia, South Africa, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Panama and Argentina.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends, "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:
Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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SOURCE JinkoSolar Holding Co., Ltd.

Print
ET | Source: EDF

multilang-release

        PRESS RELEASE
16 February 2018
 
 
 

2017 annual results
2017 financial targets achieved. 2018 targets confirmed
Performance plan in advance

2017 key figures   Highlights
 

EBITDA  €13.7bn
  -14.8% organic[1]
-10.0% excluding regulated tariff adjustment[2] in France

  Strengthening of the balance sheet and deployment of the performance plan Capital increase and 2015-2017 dividends in shares: ~€9bn; Asset disposals of €6.2bn over 2017 fiscal year: 80% of the
2015-2020 target reached at the half-way mark (i.e. €8.1bn); Reduction of Opex7 and optimisation of the WCR: targets reached one year early. Acceleration in wind and solar energy Growth in net installed capacity (+23%, i.e. +1.6GW)[3] to 8.8GW, and in generated electricity (+13% to 13.8TWh)[4]; EDF EN's portfolio of projects under construction: 1.9GW gross; EDF EN's pipeline: 22.5GW (+22%); Acquisition of Futuren (onshore wind power) and OWS (maintenance in offshore wind power); EDF's Solar Plan in France: 30GW over the period 2020-2035. Strategic priorities confirmed Signing of the acquisition of Gas Natural Vendita Italia in Italy (expected closing date at the end of February 2018) and acquisition of Imtech in the United Kingdom; Commercial offensive: new offers "Vert Electrique" and rapid adjustment of commercial costs in a context of heightened competition in France. Strengthening of the French nuclear industry Acquisition of Framatome - refocused as a designer & supplier of nuclear steam supply systems; Resumption of the manufacturing of forged components at the Creusot site approved by the ASN; Creation of Edvance: bringing together of EDF and Framatome's engineering teams in order to improve efficiency and increase competitiveness; Progress on track on the Flamanville 3 project. First political and regulatory changes Implementation of the capacity market in France in 2017 and authorisation received by the European Commission in Italy and in Belgium in 2018; Simplification announced of the regulatory framework for the development of renewable energies in France; Reform of the European Union's CO2 emissions trading (scheme ETS); In France, postponement of the 2025 target on reducing the share of nuclear power ahead of the PPE (multi-year energy plan).
Net income excluding non-recurring items[5] €2.8bn
-31.0%
Net income - Group share  €3.2bn
+11.3%
Net financial debt[6]  €33.0bn
Net financial debt/EBITDA  2.4x
Proposed dividend for 2017:   €0.46/share
  i.e. a payout ratio of 60%
   
Electricity Output
Nuclear France:  379.1TWh
Nuclear United Kingdom:  63.9TWh
Hydropower France:  37.1TWh
EDF Énergies Nouvelles:  12.6TWh
 

-1.3%
-1.8%
-12.5%
+10.9%

   
Performance plan

 

Operating expenses[7]  -€0.7bn compared to 2015
initial target reached one year early

WCR optimisation plan  €1.9bn compared to 2015
target exceeded one year early

Assets disposal plan realised (2015-2017)  ~€8.1bn[8]
more than 80% of target reached at the half-way mark

 

2018 targets confirmed

 

Operating expenses7:  -€0.8bn compared to 2015 EBITDA[9]:    €14.6 - 15.3bn Cash flow9,[10] excluding Linky[11], new developments and 2015-20 assets disposal plan:  ~0 Assets disposal plan since 2015    ~€10bn[12] Net investments excluding Linky11, new developments and 2015-20 assets disposal plan:  ~€11bn Total net investments excluding acquisitions and 2015-20 assets disposal plan  <= €15bn Net financial debt/EBITDA9:  <= 2.7x Target payout ratio of net income excluding non-recurring items[13]:  50%

EDF's Board of Directors meeting on 15 February 2018, under the chairmanship of Jean-Bernard Lévy, approved the consolidated financial statements at 31 December 2017.

Jean-Bernard Lévy, EDF's Chairman and CEO, stated: "In line with our forecasts, the 2017 results demonstrate EDF's solidity, once again profitable, in a difficult market context. Continuing the deployment of its CAP 2030 strategy and the successful execution of its performance plan, the Group strengthened its balance sheet and reduced its financial debt by €4.4bn in 2017. We are beginning an unprecedented acceleration in renewable energies with the launch of EDF's Solar Plan, at the same time that we are strengthening our commercial initiatives. Supported by our staff dedicated to working in the service of the energy transition and by a newly reorganized nuclear industry, EDF now enjoys a solid basis to achieve the rebound expected in 2018."

Change in EDF group's results

(in millions of Euros) 2016 2017 Change
(%)
Organic change
(%)
1
Organic change (%)
Excluding tariff adjustment2 in France
Sales 71,203 69,632 -2.2 -1.0 +0.4
EBITDA 16,414 13,742 -16.3 -14.8 -10.0
EBIT 7,514 5,637 -25.0  
Net income - Group share 2,851 3,173 +11.3    
Net income excluding non-recurring items3 4,085 2,820 -31.0  

Change in EDF group's EBITDA

(in millions of Euros) 2016 2017 Organic change (%)1 Organic change (%)
Excluding tariff adjustment2 in France
France - Generation and supply activities 6,156 4,876 -20.8 -7.9
France - Regulated activities 5,102 4,898 -4.0 -3.8
United Kingdom 1,713 1,035 -33.3  
Italy 641 910 +42.1  
Other activities 2,091 1,566 -24.7  
of which EDF Énergies Nouvelles 861 751 -14.8  
of which Dalkia 252 259 -1.6  
of which EDF Trading Group 729 358 -46.8  
Other international 711 457 -17.9  
Total Group 16,414 13,742 -14.8 -10.0

The results of the 2017 fiscal year are in line with expectations, despite the decline in nuclear and hydropower output in France and the unfavourable price conditions in almost all geographic areas where the Group is active. Actions undertaken to optimize operations and accelerate cost reductions have helped generate an EBITDA of €13.7 billion, in line with the initial targets.
EBITDA for the France - Generation and supply activities segment amounted to €4,876 million. Restated for the impact of the tariff adjustment[14], which took place in 2016, EBITDA was down 7.9% in organic terms. This change is mainly due to the decline in nuclear and hydropower output, to the impact of the purchases of the volumes required to cover the ARENH subscriptions in a tense market environment, and, to a lesser extent, to the unfavourable conditions in the downstream market.

EBITDA for France - Regulated activities[15] amounted to €4,898 million. Restated for the impact of the tariff adjustment14 which took place in 2016, EBITDA was down 3.8% in organic terms. This change is attributable to the downward trend in volumes delivered by Enedis, the impact of storms and hurricanes and the positive factors in 2016 that had no equivalent in 2017.

In the United Kingdom, EBITDA was down 33.3% in organic terms to €1,035 million, mainly due to the significant impact of lower realised nuclear prices.

In Italy, EBITDA recorded an organic increase of 42.1% to €910 million due in particular to favourable trends in electricity sale prices and to the optimisation of the gas-fired generation fleet. The performance of the exploration-production activities for hydrocarbons, in a context of higher Brent oil and gas prices and higher output after a new platform came online, also contributed to this positive development in EBITDA.

EDF Énergies Nouvelles' performance benefitted from an 11% increase in renewable power output in connection with an increase of 1.6GW in net installed capacities to 7.8 GW. EBITDA stood at €751 million, down 14.8 % in organic terms, due to lower asset rotation activity than in 2016. EBITDA from generation rose by 8.5% organically to €741 million.

EBITDA for the Other international segment stood at €457 million, an organic decrease of 17.9%, attributable essentially to the drop in electricity prices and to lower power generation in Belgium. The unfavourable revision of the index of the price of the Power Purchase Agreement in Brazil also contributed to the decrease.

Operating performance 

In France, nuclear output stood at 379.1TWh, a decrease of -1.3% (4.9TWh) compared to 2016.

In 2017, nuclear generation was affected by technical unavailabilities (in particular the extended unplanned outages at Flamanville 1 and Cattenom 1) and by the extension of outages to conduct maintenance work on several reactors. The provisional shutdown of the four Tricastin reactors, as requested by the ASN, also led to a drop in output of 6TWh over the final quarter.

Hydropower output stood at 37.1TWh[16], down by 5.3TWh from 2016 due to particularly unfavourable hydrological conditions, 2017 being the driest year since 2011.

Dispatch of thermal generation facilities increased in relation with lower nuclear and hydro output. Their output, up 4.1TWh compared to 2016, reached 16.1TWh.

In the United Kingdom, nuclear output stood at 63.9TWh, confirming the good operating performance by the fleet. The slight decrease of 1.2TWh compared to the record high level in 2016, was due in particular to a low level of planned outages in 2016 and to the extended outage at Sizewell B at the end of 2017.

EDF Énergies Nouvelles output reached 12.6TWh, an increase of 11% over 2016.

In France, heightened competition led to a drop in market share of residential customers to 85.5%, representing a net loss of around one million customers. Market share in the business customers segment held up more robustly, and now stands at 64.6%, thanks in particular to the winning back of previous customers. The EDF group has put into place a response plan with the launching of new offers (in particular the "Vert électrique") and the rapid adjustment of commercial costs. In Europe, the Group is resisting well in the residential customers segment, in particular in the United Kingdom, Belgium and Italy, where the acquisition currently in progress of GNVI will provide a growth driver starting in 2018.

Dalkia's sales growth (+6.1% in organic change) was notably driven by the development of activities in heating and cooling networks, new contracts in the industry and abroad, and the acquisition of Imtech in the United Kingdom. Moreover, the share of renewable and recovery energies in the energy mix represents 37%, i.e. +8% compared to 2016. Citelum signed numerous agreements in 2017, notably with the city of Dijon, Mexico City and the city of Albuquerque. Fenice renewed its agreement with Fiat for five years, renewable one time.

Net income

The financial result was up by €1,097 million compared to 2016, thanks in particular to an increase in capital gains on the sales of dedicated assets and to lower unwinding costs attributable primarily to a decrease in the discount rate on nuclear provisions in France at 31 December 2017 compared to the preceding financial year-end (-0.1% in the real rate), which was less marked than the decrease recorded at 31 December 2016 (-0.2%).

Net income excluding non-recurring items stood at €2,820 million in 2017, down by 31.0% from 2016. This includes the drop in EBITDA, which was partially offset by the improvement of the financial result and by the drop in corporate income tax.

The Group's share of net income totalled €3,173 million in 2017, up €322 million compared to 2016 (+11.3%), thanks in particular to the positive effect of the capital gain recorded for the sale of 49.9% of CTE[17].

Performance plan in advance

2017 was marked by the significant progress made in the deployment of the performance plan announced in April 2016. Firstly, operating expenses[18] were reduced by €431 million in 2017 compared to 2016, i.e. a cumulative reduction of approximately €706 million between 2015 and 2017. All segments contributed to this financial result, with, in particular, a decrease in 2017 of 5.2% in operating expenses in the France - Generation and supply activities segment, notably thanks to a decrease in costs for support functions and to the adjustment of the costs of the commercial functions. Italy recorded a drop of 4.1%, and Belgium 3.0%.

Optimisation plans had a positive impact of €431 million on the working capital requirement in 2017, representing a cumulated optimisation of €1.9 billion over the period 2015-2017, which allowed the target to be exceeded one year early.

The disposal plan was carried out with success, with €8.1 billion in disposals over the 2015-2017 period, i.e. more than 80% of the 2020 target has been reached at the half-way point.

Proposed dividend for 2017: €0.46/share, i.e. a payout ratio of 60%
with an option of payment in new shares

At its 15 February 2018 meeting, EDF's Board of Directors decided to propose the payment of a €0.46 per share dividend for the 2017 fiscal year at the General shareholder's meeting of 15 May 2018. This would correspond to a payout ratio of 60% of net income excluding non-recurring items[19].

When subtracting the interim dividend of €0.15 per share paid out in December 2017, the balance of the dividend to be paid out on the 2017 financial year comes to €0.31 per share for shares receiving the ordinary dividend.

Subject to approval at the Shareholders' Meeting, in accordance with Article L. 232-18 of the French Commercial Code and Article 25 of the Company's articles of association, EDF's Board of Directors decided on 15 February 2018 to offer each shareholder the option of being paid in new EDF stocks on the remaining dividend to be paid for the year exercice ending at 31 December 2017. In case the option is exercised, the new shares will be issued at a price equal to 90% of the average of opening prices of the EDF share on the Euronext Paris regulated market over the twenty trading days preceding the day of the Shareholders' Meeting, reduced by the amount of the balance of the dividend to be paid for the 2017 financial year, rounded up to the nearest euro cent.

On 15 February 2018, EDF's Board of Directors set the terms of payment of the balance of the dividend for the 2017 financial year which will be submitted for approval during the General meeting of shareholders to be held on 15 May 2018:

  • ordinary and loyalty dividend ex-date on 25 May 2018;
  • exercise period for payment in new shares from 25 May to 11 June 2018 inclusive;
  • payment date of the balance of the dividend and settlement/delivery of the shares on 19 June 2018.

Cash flow and Net financial debt

Total net investments including acquisitions but excluding the disposal plan reached €16 billion. Taking into account the significant asset disposals in 2017 (€6,193 million in 2017 compared to €1,139 in 2016), the total net investments and acquisitions amounted to €9,810 million in 2017, compared to €11,663 million in 2016. Moreover, total net investments excluding Linky[20], new developments[21] and the disposal plan amounted to €11,968 million, up slightly by 1.3% compared to 2016, in line with the acceleration of investments in renewable energies.

Cash flow after net investments stood at €1,853 million, a significant improvement of €2,392 million, despite the drop in EBITDA, thanks mainly to the assets disposals in 2017 and to the inflow of most of the tariff adjustment, which took place in 2016[22]. Group cash flow[23] amounted to -€209 million, up €1,356 million despite the allocation of dedicated assets of €1,095 million requested by a ministerial letter of 10 February 2017.

  31/12/2016 31/12/2017
Net financial debt[24] (in billions of Euros) 37.4 33.0
Net financial debt/EBITDA: 2.3x 2.4x

The Group's net financial debt reached €33.0 billion at the end of 2017. It was €37.4 billion at 31 December 2016. This improvement is mainly attributable to the capital increase of €4 billion and to asset disposals carried out in 2017. The ratio of net financial debt/EBITDA stood at 2.4x at 31 December 2017.

Outlook

The Group is continuing the deployment of its strategic plan and confirms its 2018 targets[25]:

  • Operating expenses[26]: €800 million reduction compared to 2015
  • EBITDA[27]: between €14.6 and €15.3 billion
  • Cash flow27,[28] excluding Linky[29], new developments and 2015-20 assets disposal plan: slightly positive or close to balance
  • Assets disposal plan: around €10 billion over 2015-2018[30]
  • Net investments excluding Linky29, new developments and 2015-20 assets disposal plan: around €11 billion
  • Total net investments excluding acquisitions and 2015-20 assets disposal plan: around €15 billion
  • Net financial debt/EBITDA27: less than or equal to 2.7x
  • Target payout ratio, based on net income excluding non-recurring items[31]: 50%

In 2019, in a context marked by an expected decline in nuclear generation in France compared to 2018, the measures to reduce operating expenses26 will be increased, with the target being revised upwards to €1.1 billion compared to 2015.

The 2019 target payout ratio of the net income excluding non-recurring items31 is confirmed at 45%-50%.

Main Group results by segment

France - Generation and supply activities 

 

 

 

(in millions of Euros)

2016 2017 Organic change (%)[32] Organic change (%)
Excluding tariff adjustment[33]
Sales 35,191 35,606 +1.2 +4.1
EBITDA 6,156 4,876 -20.8 -7.9

Sales in France - Generation and supply activities amounted to €35,606 million. Restated for the impact of the tariff adjustment33 which took place in 2016, sales were up 4.1% in organic terms. EBITDA stood at €4,876 million. Restated for the impact of the tariff adjustment33 which amounted to €859 million, EBITDA was down -7.9% in organic terms.

The lower level of nuclear power and hydropower output compared to 2016 had an unfavourable impact estimated at -€504 million.

EBITDA also declined by around €311 million in 2017 due to the net effect of operations on the wholesale markets, particularly for additional purchases while prices were high, required to cover 2017 ARENH subscriptions. These purchases were also to make up for lower nuclear power output due to additional controls in connection with the carbon segregation issue, in particular during the first half of the year. This effect was partly counterbalanced in the second half-year of 2017 as purchases had been made at particularly high prices in the final quarter of 2016 due to lower nuclear plant availability.

Heightened competition, reflected in a net loss of around one million residential customers, and negative price effects on new offers also had an estimated net effect of -€341 million on EBITDA.

Tariff changes, excluding remuneration of capacity in the tariff "stacking" calculation, led to an estimated decrease of -€363 million[34] compared to 2016.

The introduction of the capacity mechanism had a favourable +€580 million estimated impact on EBITDA for 2017. The capacity price is included in regulated tariffs and market-price offers, and excess capacities are sold off on the wholesale markets.

The weather, which was generally milder than in 2016 with a particularly cold spell early in 2017, and the "leap year effect" of 2016 had a negative effect estimated at -€186 million in 2017.

Under the EDF group's performance plan, operating expenses[35]  were brought down by an estimated €494 million (-5.2%) through actions to improve operating performance and control of payroll costs. These measures are being applied across all entities, notably through cost-cutting in support functions and adjustment of the costs of commercial activities.

France - Regulated activities[36]

 

 

 

(in millions of Euros)

2016 2017 Organic change (%)[37] Organic change (%)
Excluding tariff adjustment[38]
Sales 15,728 15,896 +1.1 +1.3
EBITDA 5,102 4,898 -4.0 -3.8

Sales for the France - Regulated activities segment amounted to €15,896 million. Restated for the impact of the tariff adjustment38 for Électricité de Strasbourg which took place in 2016, it was up 1.3% in organic terms.

EBITDA stood at €4,898 million. Without the impact of regulated sales tariff adjustment, EBITDA registered an organic decline of -3.8%, including the unfavourable €42 million[39] effect of a decline in volumes delivered by Enedis[40]. Demand was down 0.4TWh (i.e. -0.2%). As a reminder, the impacts related to the drop in demand are eligible for the tariff rectification mechanism (CRCP).

2017 was also marked by exceptionally fierce storms in mainland France, with an estimated negative impact
of -€60 million corresponding to the operating expenses incurred for work and power cut indemnities. The hurricanes on St Martin and St Barthélémy generated costs estimated at -€23 million.

All these unfavourable factors were only partially offset by tariff increases for Enedis associated with the introduction of the TURPE 5 tariff from 1 August 2017 (raising delivery tariffs on the distribution network by +2.71%) amounting to an estimated +€102 million.

The residual decrease of €168 million in EBITDA is essentially caused by the existence of favourable developments in 2016 that had no equivalent in 2017, principally concerning the island activities.

United Kingdom 

(in millions of Euros) 2016 2017 Organic change (%)
Sales 9,267 8,688 -0.8
EBITDA 1,713 1,035 -33.3

The United Kingdom's contribution to Group sales amounted to €8,688 million in 2017, down 0.8% in organic terms compared to 2016. EBITDA stood at €1,035 million, down by 33.3% in organic terms from 2016.

EBITDA was penalised by the effect of the downturn in realised prices for nuclear power (-12%). Nuclear generation output amounted to 63.9TWh confirming the good operating performance by the fleet, after an exceptional 2016.

The number of residential customer accounts declined only slightly compared to end 2016, indicating resilience in a highly competitive market. Moreover, consumption was lower in connection with rising energy efficiency.

In addition, the Infrastructure and Projects Authority (IPA) guarantee, granted under the framework of the HPC project, was formally cancelled on 5 February 2018 on EDF's request.

Italy 

(in millions of Euros) 2016 2017 Organic change (%)
Sales 11,125 9,940 -10.6
EBITDA 641 910 +42.1

Sales in Italy amounted to €9,940 million, down 10.6% organically from 2016, due on one hand to the drop in Electricity activities caused by lower volumes sold, and on the other by the "derivatives" component of hedges, the latter not significantly affecting the margin. EBITDA recorded an organic increase of 42.1% to €910 million.

EBITDA for the electricity activities showed organic growth of €26 million or +10.0% from 2016. It benefited from favourable trends in sale prices and optimisation of the gas-fired plants' generation capacities.

EBITDA for the hydrocarbon activities registered organic growth of €96 million or +19.7% compared to 2016. It benefited from favourable movements in Brent oil and gas prices, and higher output after a new platform came online in Egypt. Maintenance costs for the exploration-production activity were also optimised.

EBITDA also benefited from the positive effect of the sale of the Milan headquarters for around €100 million[41].

Other activities

(in millions of Euros) 2016 2017 Organic change (%)
Sales
of which EDF Énergies Nouvelles
of which Dalkia
7,734
1,169
3,600
7,813
1,280
4,051
-1.0
+3.6
+6.1
EBITDA
of which EDF Énergies Nouvelles
of which Dalkia
2,091
861
252
1,566
751
259
-24.7
-14.8
-1.6

Sales in Other activities amounted to €7,813 million, down 1.0% in organic terms compared to 2016. EBITDA recorded an organic decrease of 24.7% to €1,566 million.

EDF Énergies Nouvelles' contribution to consolidated EBITDA totalled €751 million, corresponding to an organic decrease of €127 million (-14.8%) from 2016, due to lower sales of assets than in 2016 which registered a high level of such operations. However, production (including Futuren) showed strong growth of close to +11% (+1.2TWh) and contributed €741 million to 2017 EBITDA. Sales of assets covered the structure and development costs. Against this background, the net installed capacity was up by +1.6GW to 7.8GW at 31 December 2017. The portfolio of projects under construction by EDF Énergies Nouvelles totalled 1.9GW, a significant share of 0.9GW concerning solar power projects.

Dalkia's EBITDA was €259 million, corresponding to an organic decrease of €4 million (-1.6%). Conclusions and renewals of a large number of commercial contracts, favourable trends in the indexes for revising service prices, and the positive effect of rising energy prices all made positive contributions to EBITDA. However, financial performance is penalised by a one-off operating issue on a contract led by a subsidiary.

EBITDA at EDF Trading amounted to €358 million in 2017, an organic decline of 46.8% after an exceptional 2016, characterized by a sharp rise in electricity prices and volatility in Europe at the end of the year, as well as the difficult market conditions in North America. A reorganisation is currently underway in that region. As part of a new strategic partnership, the EDF Group and JERA joined their coal negotiation and trading activities in April 2017 in a joint venture in which EDF Trading holds a 33% stake.

Other international 

(in millions of Euros) 2016 2017 Organic change (%)
Sales
of which Belgium
of which Brazil
5,286
3,203
488
4,822
3,375
453
+0.5
+4.7
-14.3
EBITDA
of which Belgium
of which Brazil
711[42]
205
190
457[43]
145
150
-17.9
-30.2
-28.4

Sales in Other international amounted to €4,822 million, up 0.5% in organic terms over 2016. EBITDA recorded an organic decrease of 17.9% to €457 million.

In Belgium, EBITDA was down organically by 30.2% to €145 million mainly as a result of the downturn in electricity prices and lower nuclear power generation due in particular to the maintenance programme and unplanned outages at Doel 3. Wind power continued to grow as installed capacities were increased, reaching 376MW
at 31 December 2017 (+25% compared with 31 December 2016).

Brazil's EBITDA was negatively affected by the annual revision of the Power Purchase Agreement (PPA) price with Norte Fluminense, after an exceptional year in 2016. This was partly offset by optimisation actions on the markets as spot prices were high while unplanned unavailability was at its lowest point, and also by a steady decrease in operating expenses.

2017 also saw the sale of EDF Polska's assets, on 13 November 2017[44].

Significant events[45]
since the 2017 third quarter press release

Major events

  • The EDF group launched the Solar Power Plan to develop 30GW of solar capacity in France by 2035 (see press release of 11 December 2017).
  • EDF confirmed its 2017 EBITDA target (see press release of 15 December 2017).
  • Nuclear industry:
    • Framatome announced it was continuing to ramp up production at its Le Creusot site. (see press release of 25 January 2018).
    • Framatome announced that it will acquire Schneider Electric's nuclear instrumentation and control business (see press release of 18 January 2018). 
    • EDF completed the cold functional test phase for the Flamanville EPR (see press release of 8 January 2018).
    • New NP, a subsidiary of AREVA NP, became Framatome, a company whose capital is owned by the
      EDF group (75.5%), Mitsubishi Heavy Industries (MHI 19.5%) and Assystem (5%), (see press release
      of 4 January 2018 available on the website http://www.framatome.com).
    • On 31 December 2017, EDF completed the acquisition of a 75.5% stake in Framatome (formerly New NP) (see press release of 2 January 2018).
  • Edison sold its Milan headquarters (see Edison press release of 21 November 2017 available on the website www.edison.it).

New investments, partnerships and investment projects

Development of renewable energies, EDF Énergies Nouvelles[46]

  • On 14 February 2018, EDF Énergies Nouvelles and ACC Announced China Joint Venture (Distributed solar energy).
  • On 31 January 2018, EDF Énergies Nouvelles commissioned a 200MW wind farm in the United States.
  • On 15 January 2018, EDF Énergies Nouvelles commissioned a new 115MWp solar power plant in Chile.
  • On 11 January 2018, EDF Énergies Nouvelles commissioned a 224MW wind farm in Canada.
  • On 8 January 2018, EDF Énergies Nouvelles announced that Photowatt[47] has embarked on a new project of industrial development and innovation.
  • On 14 December 2017, EDF Renewable Energy, a North American subsidiary of EDF Énergies Nouvelles, and Kimberly-Clark announced the commercial operation of the Rock Falls wind farm in the United States.
  • On 30 November 2017, EDF Renewable Energy, a North American subsidiary of EDF Énergies Nouvelles, signed an agreement with Google to supply 200MW of wind energy in the United States.

Development of energy services

  • On 9 January 2017, EDF strengthened its position in China with two new energy service contracts.

Sustainable development

  • On 15 January 2018, the EDF group launched "Vert Électrique Auto", using an roaming solution offered by Sodetrel, a subsidiary of EDF.
  • On 11 December 2017, the EDF group announced that it will convert its entire fleet to electric vehicles by 2030.
  • On 11 December 2017, industrial issuers of €26 billion of "green bonds" announced their commitment to further developing one of the most dynamic segments of sustainable finance today, the green bond market.

Other significant events

  • On 6 February 2018, the EDF group won its first nuclear waste treatment contract with SOGIN[48].
  • On 19 January 2018, riding the wave of success in Côte d'Ivoire, EDF and OGE embarked on the off-grid market in Ghana.

APPENDICES :

Consolidated income statement

   

(in millions of Euros)

  2017 2016  
Sales   69,632 71,203
Fuel and energy purchases   (37,641) (36,050)
Other external expenses   (8,739) (8,902)
Personnel expenses   (12,456) (12,543)
Taxes other than income taxes   (3,541) (3,656)
Other operating income and expenses   6,487 6,362
Operating profit before depreciation and amortisation   13,742 16,414
Net changes in fair value on Energy and Commodity derivatives,
excluding trading activities
  (355) (262)
Net depreciation and amortisation   (8,537) (7,966)
Net increases in provisions for renewal of property, plant and equipment operated under concessions   (58) (41)
(Impairment)/reversals   (518) (639)
Other income and expenses   1,363 8
Operating profit   5,637 7,514
Cost of gross financial indebtedness   (1,778) (1,827)
Discount effect   (2,959) (3,417)
Other financial income and expenses   2,501 1,911
Financial result   (2,236) (3,333)
Income before taxes of consolidated companies   3,401 4,181
Income taxes   (147) (1,388)
Share in net income of associates and joint ventures   35 218
GROUP NET INCOME   3,289 3,011
EDF net income   3,173 2,851
Net income attributable to non-controlling interests   116 160
       
Earnings per share (EDF share) in Euros:      
Earnings per share   0.98 1.15
Diluted earnings per share   0.98 1.15

Consolidated balance sheet

ASSETS
(in millions of Euros)
  31/12/2017 31/12/16
Goodwill   10,036 8,923
Other intangible assets   8,896 7,450
Property, plant and equipment operated under French public electricity distribution concessions   54,739 53,064
Property, plant and equipment operated under concessions for other activities   7,607 7,616
Property, plant and equipment used in generation and other tangible assets owned by the Group   75,622 70,573
Investments in associates and joint ventures   7,249 8,645
Non-current financial assets   36,787 35,129
Other non-current receivables   2,168 2,268
Deferred tax assets   1,220 1,641
Non-current assets   204,324 195,309
Inventories   14,138 14,101
Trade receivables   23,411 23,296
Current financial assets   24,953 29,986
Current tax assets   673 183
Other current receivables   9,561 10,652
Cash and cash equivalents   3,692 2,893
Current assets   76,428 81,111
Assets classified as held for sale   - 5,220
TOTAL ASSETS   280,752 281,640
         
EQUITY AND LIABILITIES
(in millions of Euros)
  31/12/2017 31/12/16
Capital   1,464 1,055
EDF net income and consolidated reserves   39,893 33,383
Equity (EDF share)   41,357 34,438
Equity (non-controlling interests)   7,341 6,924
Total equity   48,698 41,362
Provisions related to nuclear generation - back-end of the nuclear cycle, plant decommissioning and last cores   46,410 44,843
Other provisions for decommissioning   1,977 1,506
Provisions for employee benefits   20,630 21,234
Other provisions   2,356 2,155
Non-current provisions   71,373 69,738
Special French public electricity distribution concession liabilities   46,323 45,692
Non-current financial liabilities   51,365 54,276
Other non-current liabilities   4,864 4,810
Deferred tax liabilities   2,362 2,272
Non-current liabilities   176,287 176,788
Current provisions   5,484 5,228
Trade payables   13,994 13,031
Current financial liabilities   11,142 18,289
Current tax liabilities   187 419
Other current liabilities   24,960 24,414
Current liabilities   55,767 61,381
Liabilities related to assets classified as held for sale   - 2,109
TOTAL EQUITY AND LIABILITIES   280,752 281,640

Consolidated cash flow statement

(in millions of Euros)   2017 2016
Operating activities:      
Income before taxes of consolidated companies   3,401 4,181
Impairment/(reversals)   518 639
Accumulated depreciation and amortisation, provisions and changes in fair value   9,980 9,814
Financial income and expenses   764 948
Dividends received from associates and joint ventures   243 330
Capital gains/losses   (2,739) (877)
Change in working capital   1,476 (1,935)
Net cash flow from operations   13,643 13,100
Net financial expenses disbursed   (1,209) (1,137)
Income taxes paid   (771) (838)
Net cash flow from operating activities   11,663 11,125
 

Investing activities:

     
Acquisitions of equity investments, net of cash acquired   (2,463) (127)
Disposals of equity investments, net of cash transferred   2,472 372
Investments in intangible assets and property, plant and equipment   (14,747) (14,397)
Net proceeds from sale of intangible assets and property, plant and equipment   1,140 508
Changes in financial assets   1,885 (2,913)
Net cash flow used in investing activities   (11,713) (16,557)
 

Financing activities:

     
EDF Capital increase   4,005 -
Transactions with non-controlling interests   481 1,368
Dividends paid by parent company   (109) (165)
Dividends paid to non-controlling interests   (183) (289)
Purchases/sales of treasury shares   (6) (2)
Cash flows with shareholders   4,188 912
Issuance of borrowings   2,901 9,424
Repayment of borrowings   (6,304) (6,176)
Payments to bearers of perpetual subordinated bonds   (565) (582)
Funding contributions received for assets operated under concessions   144 143
Investment subsidies   348 417
Other cash flows from financing activities   (3,476) 3,226
Net cash flow from financing activities   712 4,138
Net increase/(decrease) in cash and cash equivalents   662 (1,294)
       
CASH AND CASH EQUIVALENTS - OPENING BALANCE   2,893 4,182
Net increase/(decrease) in cash and cash equivalents   662 (1,294)
Effect of currency fluctuations   (13) 102
Financial income on cash and cash equivalents   21 20
Effect of reclassifications   129 (117)
CASH AND CASH EQUIVALENTS - CLOSING BALANCE   3,692 2,893

A key player in energy transition, the EDF Group is an integrated electricity company, active in all areas of the business: generation, transmission, distribution, energy supply and trading, energy services. A global leader in low-carbon energies, the Group has developed a

diversified generation mix based on nuclear power, hydropower, new renewable energies and thermal energy. The Group is involved in supplying energy and services to approximately 35.1 million custumers accounts, 26.5 million of which are in France. The Group generated consolidated sales of €70 billion in 2017. EDF is listed on the Paris Stock Exchange.

This press release is certified. You can check that it is authentic at medias.edf.com

Disclaimer

This presentation does not constitute an offer to sell securities in the United States or any other jurisdiction.
No reliance should be placed on the accuracy, completeness or correctness of the information or opinions contained in this presentation, and none of EDF representatives shall bear any liability for any loss arising from any use of this presentation or its contents.
The present document may contain forward-looking statements and targets concerning the Group's strategy, financial position or results. EDF considers that these forward-looking statements and targets are based on reasonable assumptions as of the present document publication, which can be however inaccurate and are subject to numerous risks and uncertainties. There is no certainty that the forecast events will take place or that the expected results will actually be achieved. Important factors that could cause actual results, performance or achievements of the Group to differ materially from those contemplated in this document include in particular the successful implementation of EDF strategic, financial and operational initiatives based on its current business model as an integrated operator, changes in the competitive and regulatory framework of the energy markets, as well as risk and uncertainties relating to the Group's activities, its international scope, the climatic environment, the volatility of raw materials prices and currency exchange rates,  technological changes, changes in the general economic situation.
Detailed information regarding these uncertainties and potential risks are available in the reference document (Documentde référence) of EDF filed with the Autorité des marchés finaciers on 6 March 2017, wich is available on the AMF's website at www.amf-france.org and on EDF website at www.edf.fr.
EDF does not undertake nor does it have any obligation to update forward-looking information contained in this presentation to reflect any unexpected events or circumstances arising after the date of this presentation.

 
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EDF SA
French société anonyme
with a share capital of €1,463,719,402 
Registered head office: 22-30, avenue de Wagram
75382 Paris cedex 08
552 081 317 RCS Paris

www.edf.fr

   

CONTACTS

 

Press: +33(0) 1 40 42 46 37

 

Analysts and investors: +33(0) 1 40 42 40 38

[1] Organic change at comparable scope and exchange rate

[2] Excluding the impact related to the positive effect in 2016 of the regulated sales tariff adjustment for the period from 1 August 2014 to 31 July 2015 following the French State Council's decision of 15 June 2016

[3] Capacity representing the share owned by the Group

[4] Generation by entities accounted for using the full consolidation method

[5] Net income excluding non-recurring items is not defined by IFRS, and is not directly visible in the consolidated income statement. It corresponds to the Group net income excluding non-recurring items and net changes in fair value on Energy and Commodity derivatives, excluding trading activities, net of tax

[6] Net financial debt is not defined in the accounting standards and is not directly visible in the Group's consolidated balance sheet. It comprises total loans and financial liabilities, less cash and cash equivalents and liquid assets. Liquid assets are financial assets consisting of funds or securities with initial maturity of over three months that are readily convertible into cash and are managed according to a liquidity-oriented policy

[7] Sum of personnel expenses and other external expenses. At comparable consolidation scope and exchange rates. At constant pension discount rates. Excluding change in operating expenses of the service activities

[8] Impact on net financial debt

[9] At comparable exchange rates and "normal" weather conditions, on the basis of a nuclear output in France assumption of >395TWh. At constant pension discount rates

[10] Excluding eventual interim dividend for the 2018 fiscal year

[11] Linky is a project led by Enedis, an independent EDF subsidiary as defined in the French Energy Code

[12] Disposals signed or realised

[13] Adjusted for the remuneration of hybrid bonds accounted for in equity

[14] Favourable effect in 2016 of the regulated sales tariff adjustment for the period from 1 August 2014 to 31 July 2015 following the French State Council's decision of 15 June 2016

[15] Regulated activities: Enedis, Électricité de Strasbourg and island activities. Enedis is an independent EDF subsidiary as defined in the French Energy Code.

[16] After deduction of pumped volumes, hydropower production stood at 30.0TWh for 2017 (35.8TWh for 2016)

[17] Capital gain before taxes; CTE, the entity holding 100% of RTE shares

[18] Sum of personnel expenses and other external expenses. At comparable consolidation scope and exchange rates. At constant pension discount rates. Excluding change in operating expenses of the service activities

[19] Adjusted for the remuneration of hybrid bonds accounted for in equity

[20] Linky is a project led by Enedis, an independent EDF subsidiary as defined in the French Energy Code

[21] New developments: in particular the UK NNB projects, offshore wind power and the acquisition of Framatome

[22] Favourable effect in 2016 of the regulated sales tariff adjustment for the period from 1 August 2014 to 31 July 2015 following the French State Council's decision of 15 June 2016

[23] Cash flow after dividends without taking into consideration the capital increase

[24] Net financial debt is not defined by accounting standards and is not directly visible in the Group's consolidated income statement. It comprises total loans and financial liabilities, less cash and cash equivalents and liquid assets. Liquid assets are financial assets consisting of funds or securities with initial maturity of over three months that are readily convertible into cash and are managed according to a liquidity-oriented policy

[25] See EDF press release dated 13 November 2017

[26] Sum of personnel expenses and other external expenses. At comparable consolidation scope and exchange rates. At constant pension discount rates. Excluding change in operating expenses of the service activities

[27] At comparable exchange rates and "normal" weather conditions, on the basis of a nuclear output in France assumption of >395TWh. At constant pension discount rates

[28]  Excluding eventual interim dividend for the 2018 fiscal year

[29] Linky is a project led by Enedis, an independent EDF subsidiary as defined in the French Energy Code

[30] Disposals signed or realised

 [31] Adjusted for the remuneration of hybrid bonds accounted for in equity

[32] Organic change at comparable scope and exchange rate

[33] Excluding the impact related to the positive effect in 2016 of the regulated sales tariff adjustment for the period from 1 August 2014 to 31 July 2015 following the French State Council's decision of 15 June 2016

[34] Tariffs excluding the incorporation of the cost of capacity obligation in the tariff "stacking" - tariff changes of -0.5% and -1.5% at 1 August 2016 respectively on the "blue" residential and non-residential tariffs, and +1.7 % at 1 August 2017 on both segments

[35] Sum of personnel expenses and other external expenses. At comparable consolidation scope and exchange rate. At constant pension discount rates. Excluding change in operating expenses of the service activities

[36] Regulated activities include Enedis, ÉS and island activities

[37] Organic change at comparable scope and exchange rate

[38] Excluding the impact related to the positive effect in 2016 of the regulated sales tariff adjustment for the period from 1 August 2014 to 31 July 2015 following the French State Council's decision of 15 June 2016

[39] Including the impacts of weather changes and the "leap year effect" 

[40] Enedis is an independent EDF subsidiary as defined in French Energy Code

[41] In line with the Group's practice

[42] 2016 EBITDA, including the activities of EDF Demasz in Hungary, sold on 31 January 2017

[43] 2017 EBITDA, including the activities of EDF Polska in Poland, sold on 13 November 2017

[44] See the EDF press release of 14 November 2017

[45] The complete list of press releases is available on the website: www.edf.fr

[46] A full list of EDF Énergies Nouvelles' press releases is available from the website www.edf-energies-nouvelles.com

[47] Photowatt is a subsidiary of EDF Énergies Nouvelles established in France. It is a European company specialized in the manufacture of photovoltaic cells and modules

[48] SOGIN (Societe Gestione Impianti Nucleari) is Italy's public entity tasked with the dismantling of nuclear facilities and the management of radioactive waste in Italy

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ET | Source: Statkraft AS

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Strong quarter

(Oslo, 15 February 2018) Statkraft recorded an underlying EBITDA of NOK 4786 million in the fourth quarter of 2017. This was an increase of NOK 115 million compared with the corresponding period in 2016. The quarterly net profit ended at NOK 5317 million, an increase of NOK 4569 million from the same quarter in 2016. Solid underlying performance, gains from divestments of offshore wind assets and reversal of impairments led to the strong result.

The average Nordic system price in the quarter was 30.6 EUR/MWh, a decrease of 11 per cent compared with the price level experienced in the same period in 2016. Statkraft's total generation was 17.3 TWh, a decrease of nine per cent from a very high level in the fourth quarter in 2016.

- We are very satisfied with the strongest result since 2008, demonstrating high performance and successful divestments, says CEO Christian Rynning-Tønnesen. 

Increased need for flexibility in the German market and improved outlook for future gas to power margin has led to a reversal of impairments of NOK 914 million for gas-fired power plants.

Statkraft divested its 40 per cent shareholding in the Sheringham Shoal offshore wind farm and its 50 per cent shareholding in the Triton Knoll offshore wind project. Recognised gains from these transactions were NOK 3061 million. In addition, Statkraft has signed an agreement to divest the 30 per cent shareholding in the Dudgeon offshore wind farm. Closing of the Dudgeon transaction is expected to take place in the first quarter of 2018. The transactions are in line with Statkraft's strategy to divest offshore wind assets.

- The sales of offshore wind assets combined with the new long term dividend model significantly strengthens our financial capacity. Together with the performance improvement programme, this gives a solid foundation for further growth in renewable energy, says Rynning-Tønnesen.

Statkraft is actively exploring new business within hydropower, wind power, solar power and other opportunities within renewable energy. Silva Green Fuel, a company owned by Statkraft and Södra, has decided to build a demonstration plant for advanced biofuel in Norway.

Statkraft has entered into a new long-term power contract with Eramet. The contract runs from 2021 to 2030 with a total volume of 8 TWh. The contract reaffirms Statkraft's position as a competitive supplier to Norwegian industry and will have a stabilising effect on Statkraft's revenues.

Financial statements for Statkraft AS Group for 2017 has been approved by the Board of Directors of Statkraft AS. Statkraft's generation reached 62.6 TWh in 2017, down 5 per cent from the record high level in 2016. The average system price at Nord Pool was 29.4 EUR/MWh, an increase of 9 per cent year-on-year. The underlying EBITDA ended at a solid NOK 14 432 million, compared to NOK 12 705 million in 2016. The result for 2017 was significantly influenced by gains from transactions. Profit before tax was NOK 15 693 million and net profit ended at NOK 11 732 million.

The annual report for 2017 will be disclosed 28 February 2018.

For further information, please contact:

Debt Capital Markets:
Funding manager Stephan Skaane, tel: +47 905 13 652, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Senior Financial Advisor Arild Ratikainen, tel: +47 971 74 132, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Media:
Press spokesperson Knut Fjerdingstad, tel: +47 901 86 310, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Press spokesperson Lars Magnus Günther, tel: +47 912 41636, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

or www.statkraft.com

Statkraft is a leading company in hydropower internationally and Europe's largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has 3600 employees in 16 countries.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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Details

Author: Makumbe,Pedzisayi ; 
Document Date: 2018/01/10 02:44:02
Document Type: Brief
Report Number: 122590
Volume No: 1
 

Abstract

The synergies between rooftop solar PV (RPV) and energy efficiency (EE) investments in the built environment include lower specific transaction costs, optimized RPV systems, shorter project payback periods (compared to RPV-only projects), and, for EE, enhanced project visibility. These synergies improve the likelihood of project implementation, which in turn helps to reduce peak demand, increase environmental benefits, improve energy security, and lower energy bills. Because the methods of financing and implementing RPV and EE in the built environment are often similar, it is wise to consider including an EE component when investing in an RPV project, and vice versa.
 
 

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ET | Source: Consolidated Edison Company Of NY

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Con Edison
Con Edison

A Con Edison worker near solar panels atop a high school in Brooklyn.

Consolidated Edison Company Of NY

NEW YORK, Feb. 13, 2018 (GLOBE NEWSWIRE) --

Five Con Edison researchers have earned recognition for findings that help the energy industry manage solar projects, keep their systems safe from cyber attacks, and take advantage of the benefits of microgrids.

The employees earned the Technology Transfer Award from the Electric Power Research Institute, a national organization dedicated to the safe, reliable delivery of power.

“Rapid advances in technology give us new ways to serve customers, but also challenge us to understand complex, new concepts,” said Tim Cawley, the president of Con Edison. “The work our researchers have done with EPRI will help Con Edison and other energy companies keep their service safe and reliable as customer needs and technology continue to evolve.”

James Skillman, a project manager in Con Edison’s Distribution Planning department, helped develop a model that uses data like energy prices, the cost of solar panels and income levels to predict the number of customers who will choose solar for their homes and businesses.

Energy companies like Con Edison can use the information to help plan how they deploy and manage solar energy on their electric-delivery systems in ways that keep service reliable for all customers.

Andrew Reid, a senior planning analyst in Distributed Resource Integration, won for research into the planning, designing and operation of microgrids.

Microgrids are local energy networks that are able to separate from the larger electrical grid during extreme weather events or emergencies, providing power to individual customers and crucial public services such as hospitals, first responders, and water treatment facilities.

Three researchers developed a system to help energy companies evaluate the strength of their substation cyber security protections. The method can help energy companies plan cyber security investments to protect their equipment and customers.

Those winners were: Arman Shiplu, a section manager in Protective Systems Testing, William Vesely, a project specialist in Control Systems Engineering, and Selena Ley, a technical specialist in Corporate Security.

Con Edison is a subsidiary of Consolidated Edison, Inc. (NYSE:ED), one of the nation’s largest investor-owned energy companies, with approximately $12 billion in annual revenues and $49 billion in assets. The utility delivers electricity, natural gas and steam to 3.4 million customers in New York City and Westchester County, N.Y. For financial, operations and customer service information, visit conEd.com. For energy efficiency information, visit coned.com/energyefficiency. Also, visit us on Twitter and Facebook.

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ESMAP (Energy Sector Management Assistance Program) is a technical assistance program managed by the World Bank and supported by 11 bilateral donors. ESMAP launched in January 2013 an initiative to support the efforts of countries to improve the knowledge... See More + ESMAP (Energy Sector Management Assistance Program) is a technical assistance program managed by the World Bank and supported by 11 bilateral donors. ESMAP launched in January 2013 an initiative to support the efforts of countries to improve the knowledge of renewable energy (RE) resources, establish appropriate institutional framework for the development of RE and provide "free access" to geospatial resources and data. This initiative will also support the IRENA-GlobalAtlas program by improving data availability and quality, consulted through an interactive atlas. This "Renewable Energy Mapping: Small Hydro Tanzania" study, is part of a technical assistance project, ESMAP funded, being implemented by Africa Energy Practice 1 (AFTG1) of the World Bank in Tanzania (the ‘Client’) which aims at supporting resource mapping and geospatial planning for small hydro. It is being undertaken in close coordination with the Rural Energy Agency (REA) of Tanzania, the World Bank’s primary Client country counterpart for this study. The prefeasibility study of the Luegere River is characterized by a good guaranteed low-flow that should be confirmed by hydrological monitoring of the River. The preliminary investigation of the surface geology concludes that from a geological point of view the site is favorable for the construction of the project as long as the appropriate mitigation measures are put in place. The site has no major problems of stability and leakages. Beyond the development of the Luegere hydroelectric project, it is strongly recommended that the Government of Tanzania further develop the existing hydrological monitoring network for its rivers with high hydropower potential in order to better understand the available water resources and thus promote the development of hydroelectric projects across the country. It is only in a context of reduced uncertainties through reliable, recent and long-term records (more than 20 years) that technical parameters and economic and financial analyzes of hydroelectric developments can be defined accurately, enabling optimization of their design and their flood control infrastructure (temporary and permanent).  See Less -

Mehul Choksi, one of two businessmen allegedly involved in perpetrating India’s biggest ever banking fraud, broke his silence at the weekend with an open letter to employees claiming his innocence and telling them to look for other jobs. (Reuters)

Mehul Choksi, one of two businessmen allegedly involved in perpetrating India’s biggest ever banking fraud, broke his silence at the weekend with an open letter to employees claiming his innocence and telling them to look for other jobs. Choksi and his nephew Nirav Modi, both owners of jewellery store chains, are suspected of colluding with two employees from Punjab National Bank, the country’s second-largest state lender, in an alleged $1.8 billion fraud. The businessmen are said to have been issued with illegal letters of undertaking (LOUs) from PNB over a seven year period, and to have used them to get loans from overseas branches of other, mostly Indian banks. Choksi, who owns Gitanjali Gems, told employees he did not want anyone to suffer due to an association with him, but that he was in no position to pay their salaries and they were free to look for other opportunities until he could prove himself innocent. “With recent false allegations levelled against me of defrauding the PNB Bank and media frenzy, the situation has gone grave, which is turning graver by the day,” Choksi wrote in the letter sent to employees on Friday. The scandal, which came to light earlier this month, has shaken confidence in state-run lenders and turned the spotlight again on India’s deep-seated corruption problem.

At least a dozen people — six from the bank and six more from Modi’s and Choksi’s companies — have been arrested and the investigation is still continuing. Modi, who according to Forbes magazine has a net worth of some $1.8 billion, owns Firestar International and a chain of eponymous boutique stores from New York to Beijing. On Saturday, authorities seized a farmhouse, a solar power plant and land that belonged to him. Also on Saturday, India’s Enforcement Directorate, which fights financial crimes, said on Twitter it had taken possession of 21 other properties belonging to Modi worth 5.24 billion rupees ($81 million) in the latest swoop in Mumbai and Pune, another city in western India. Earlier in the week, the agency said it had seized luxury cars worth millions of rupees belonging to Modi. A lawyer for Modi has denied his client was involved in any fraud. Choksi’s firm, Gitanjali Gems, has also denied involvement in the alleged fraud.

Separately, India’s federal police on Thursday registered a case against a Delhi-based jeweller on a fraud complaint filed by Oriental Bank of Commerce, another state-owned bank, a police source said. The lender has alleged the firm, Dwarka Das Seth International, cheated the bank with the help of some of its officials, using letters of credit (LCs) — a loan instrument similar to those used by Modi’s and Choksi’s firms in the alleged fraud. Reuters was unable to reach the Delhi firm as the phone numbers listed online did not work.

Promising all kinds of approval and clearances for projects in 21 days, Andhra Pradesh Chief...

adani group, Gautam Adani, Andhra Pradesh, Rs 9,000 crore investment, CII Partnership Summit, Bhavanapadu, Srikakulam, industry Gautam Adani, Chairman, Adani Group. (Photo: Reuters)

Adani Group will invest Rs 9,000 crore in projects across different sectors in Andhra Pradesh, it announced on Saturday. Gautam Adani, Chairman, Adani Group, made the announcement at the inaugural session of “CII Partnership Summit” in this coastal city. He said the investment would be made in the state over the next five years.

The group signed several Memorandums of Understanding (MoUs) with the Andhra Pradesh government on the first day of the three-day event. He said the Adani Group would develop a greenfield seaport at Bhavanapadu in Srikakulam district.

Adani also announced setting up of a 1,000 MW renewable energy project and battery storage facility in the state.

Adani Group today signed an agreement with the Andhra Pradesh government to invest over Rs 9,000...

pnb scam, pnb fraud, Enforcement Directorate, nirav modi, nirav modi scam, punjab national bank, Money Laundering Act, Prevention of Money Laundering Act, worli, mumbai, industry PNB fraud: A farmhouse and adjoining land, worth over Rs 42.70 crore, in the Kihim area of beach-side Alibaug of the Nirav Modi Trust has also been attached. (PTI)

The Enforcement Directorate (ED) today attached 21 properties, including a penthouse and a farmhouse, of Nirav Modi and his group worth over Rs 523 crore in fresh action against the beleaguered jeweller in the alleged Rs 11,400 crore fraud in the PNB. The central probe agency said it has issued a provisional order for attachment of the assets, under the Prevention of Money Laundering Act (PMLA), and seized a Rs 81.16 crore valued penthouse (created by joining three flats) and a flat worth Rs 15.45 crore in the sea-facing Samudra Mahal apartments in the Worli area of Mumbai. “21 immovable properties of Nirav Modi and companies controlled by him, with a market value of Rs 523.72 crore, have been provisionally attached.

“These include 6 residential properties, ten office premises, 2 flats in Pune, a solar power plant, a farmhouse in Alibaug and 135 acres of land in Karjat in Ahmednagar district,” the agency said. While the agency had earlier seized gems, diamonds, jewellery, shares, bank deposits and costly cars in this case since it registered a criminal case under PMLA on February 14, this is the first major action to seize immovable assets. While the Samudra Mahal properties and two other flats in Punes Hadapsar area are in the name of Modi and his wife Ami, the assets attached in the pricey Kalaghoda and Opera House area in the Maharashtra capital are in the name of Modi’s diamond firm– Firestarter Diamond International Private Limited.

A farmhouse and adjoining land, worth over Rs 42.70 crore, in the Kihim area of beach-side Alibaug of the Nirav Modi Trust has also been attached. Similarly, a 53-acre solar power plant, valued at Rs 70 crore, in the Karjat area of Ahmednagar district of the state has also been brought under the same action. Two office properties, worth about Rs 80 crore, in the name of Mark Business Enterprises Private Limited in the Lower Parel area of Mumbai have also been attached.

With the latest action, the total assets seized by the ED in this case are now over Rs 6,393 crore, officials claimed, adding that this was being independently valued. The agency has also summoned Modi, Ami and Modi’s uncle and Gitanjali Gems promoter Mehul Choski for questioning in the case on February 26. Modi, Choksi and others are being investigated by the ED and other probe agencies after the fraud recently came to light, following a complaint by the Punjab National Bank that they allegedly cheated the nationalised bank to the tune of Rs 11,400 crore, with the purported involvement of a few employees of the bank.

The CBI and the ED have registered two FIRs each to probe the case. Both Modi and Choski are said to have left the country before criminal cases were lodged against them.

Turkmenistan, Afghanistan, Pakistan, India on Friday ceremonially broke ground on the Afghan section of an ambitious multi-billion dollar TAPI gas pipeline expected to help ease energy deficits in South Asia
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