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Renowned technology entrepreneur and CEO of Tesla and SpaceX Elon Musk has revealed what he would focus on in immediate future — and it is not electric cars or spacecrafts. During the unveiling of Tesla’s Model Y compact electric SUV, Musk said the company will focus on solar roof in 2019. Solar Roof is referred to tesla’s glass solar tiles that comes with an integrated Powerwall battery that the company claimed to be three times stronger than standard roofing tiles and hence, the warranty offered is the lifetime of the house.
“This is definitely going to be the year of the Solar Roof and Powerwall,” said digital news portal Inverse citing Musk as saying during the unveiling in California, adding that such efforts will “ultimately be really critical for transitioning the world to sustainable energy.”
Talking about the company’s goal of a sustainable energy for the future, Musk said that “Solar plus battery plus electric vehicles, we have a fully sustainable future.” “That’s a future you can feel really excited and optimistic about. I think that really matters,” he added.
Solar Roof ain’t altogether a new product for the company. Tesla had introduced prototype of the tiles in October 2016. In fact, for the new business Tesla had also acquired California solar energy services company SolarCity for a whopping $2.6 billion in the same year.
However, Tesla had to go through issues around insufficient capacity to produce its Model 3 that the company started producing in July 2017. With a backlog of nearly 500,000 orders, the company had set a target of producing 5,000 cars per week that it continued to miss till June 2018. 2018, said Musk “felt like probably aging five years in one,” Inverse said.
This caused the Solar Roof project to be sidelined. But now the team can “finally allocate engineering attention” to solar projects.
Nonetheless, it won’t be Tesla alone in the solar tiles market. GAF, among the largest roofing companies globally, Sunrun, Vivint Solar, PetersenDean Roofing & Solar are other solar roofing companies in the US that Tesla would be battling out.
State owned (KABIL) consortium of three PSU companies including: National Aluminum Company (NALCO), Hindustan Copper (HCL) and Mineral Exploration Corp Ltd., (MECL) and the Bolivian state owned Yacimientos del Litio Bolivianos (Bolivian Lithium Deposits) (YLB) Corporation are expected to sign an agreement for setting up a Lithium Battery plant in India.
Sources confirmed to Financial Express Online that, “When President Ramnath Kovind visits the landlocked country end of month, an agreement is expected to be inked between the two sides which would outline the contours of the project to be up here.”
As has been reported earlier by Financial Express Online, KABIL delegation had visited the country recently to visit mines, pilot plants and exploration assets of YLB Corporation as well as had meetings with the concerned authorities at the Ministry of Energy of Bolivia.
The Consortium has visited the `Lithium Triangle’ in South America — comprising Chile, Argentina and Bolivia, as India is in the process of setting up large lithium-ion battery plants, and these countries have offered to meet India’s growing demand.
For identifying, exploring, acquiring, developing and processing strategic minerals overseas, the Indian Ministry of Mines has formed a consortium which has the mandate to travel across the globe to identify the critical minerals needed for projects in the country.
To achieve achieving an all-electric car fleet by 2030, India has made a concerted effort to reach out to the countries which are holding major Lithium deposits and in the last two months led by Ranjit Rath, CMD, MECL, SK Patnaik, DGM (Mines) NALCO and Amit Degvekar, Sr Manager, HCL, of KABIL Joint Venture have traveled to Argentina, Bolivia and Chile.
Currently, 100% of Li-ion batteries or cells are imported and are commonly used in portable electronic devices, solar power plants as well as electric vehicles. These batteries are in demand due to their high energy density and high charge and discharge rate capabilities, as compared with other type of batteries such as Ni-MH or Lead Acid.
The Financial Express was the first to report that Bolivia, a landlocked country is seeking Indian capital to invest in developing Bolivia’s massive lithium deposits, which account for 60% of the world’s reserves.
How the two both countries can work together on the Lithium batteries has been the focus of the KABIL visit to the South American country and visited the Uyuni Salt Flats and had a tour of the existing infrastructure and future sites.
It is estimated that Bolivia has the world’s largest deposits of Lithium in the Salar de Uyuni and some studies indicate that Salar de Uyuni has 140 million tonnes of Lithium. There have been suggestions from experts that as part of Make in India Programme, the government should strive to set up R&D and technology development centres for indigenous lithium ion battery manufacturing plants, which is crucial to India’s ambitions of achieving energy security.
Cash-strapped IL&FS Group will receive first set of bids under asset monetization process on...
Tata Power-DDL Friday joined hands with European firms Enedis, Schneider Electric, Odit-e and VaasaETT to implement a 1-megawatt smart grid demonstration project in the national capital, which would be insulated from any blackout in the main grid. This microgrid will cater to a specific area which could be connected to main grid or can be at an isolated place. It will help store and supply renewable energy generation in the area and insulate the area from any outage or fluctuation in the main grid.
The project is planned to start in May this year and is expected to be completed by October 2022. “In common parlance, this microgrid is in a way islanding of specific area for power supply. After the grid failure in 2012, the government has been working on the islanding project for Delhi. “However, this demonstrative project would be for specific area covering around 1000 households,” Tata Power Delhi Distribution Ltd (Tata Power-DDL) Chief Executive Officer Sanjay Kumar Banga told PTI. The project would either be implemented the project in Civil Lines or Pitampura in Delhi, he said. “This (the project) is basically to harness renewable sources.”
The company said the project would lead to maximisation of local consumption of renewable energy and support demand-side management through islanding capability of microgrid. It said: “The European Commission will provide a grant of 7.9 million euro for the project, while the overall project budget is euro 10.7 million.
A memorandum of understanding in this regard was signed between Sanjay Kumar Banga, CEO, Tata Power-DDL; Philippe Monloubou, chairman of management board, Enedis; Luc Remont, executive vice-president (international operations), Schneider Electric; Philippe Deschamps, CEO, Odit-E; and Thomas N Mikkelsen, partner and director of consultancy, VaasaETT on the sidelines of the India Smart Utility Week 2019 here.
Tomasz Kozlowski, EU Ambassador to India; Jean-Marc FENET, minister-counsellor for economic affairs, head of the regional economic department at the Embassy of France in India; Megan Richards, director of DG Energy at the European Commission; and Praveer Sinha, CEO & MD of Tata Power were also present on the occasion.
“The collaboration with Enedis, Schneider Electric, Odit-e and VaasaETT is one of the significant milestones in the Indian power sector,” said Praveer Sinha, managing director and CEO of Tata Power. Apart from this, four more such demonstrators are planned in Germany, Austria and Hungary as part of the project. Tata Power Delhi Distribution Limited (Tata Power-DDL) is a joint venture between Tata Power and the Government of NCT of Delhi.
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Cash-strapped IL&FS Group will receive first set of bids under asset monetization process on Monday as part of resolution process, according to sources. The company’s board will later consider bids for Rs 8,000 crore renewable energy business that was put on the block in November 2018, the sources said. This will be the first set of bids that will be opened under asset monetization process as part of resolution process by government-appointed and Uday Kotak-led new board, they added.
The group, which is sitting on the debt of about Rs 94,000 crore debt, had decided to sell assets in various verticals, including roads, education, renewable energy, and broking in November last year. The renewable assets of the group include operating wind power plants with an aggregate capacity of 873.5-mw, and under-construction such plants with 104 mw capacity.
It also includes the solar power business, under which it has around 300-mw of under-construction projects. Japan’s Orix is the joint venture partner in the wind power business and the completion of sale of this business is expected to reduce IL&FS debt of about Rs 5,000 crore.
When contacted IL&FS spokesperson declined to comment on the same. According to sources, nearly two dozen firms had participated in the expression of interest sought by the company that ended on December 10, 2018. Several companies, sources said, have completed their due diligence of the underlying assets. However, the completion of entire process and shortlisting of the final bidder will take a few weeks as multiple processes are involved. LIC is the single largest shareholder with over 25 per cent stake in IL&FS and Orix Corp owns a little over 23 per cent. IL&FS Employees Welfare Trust holds 12 per cent in the company.
The Abu Dhabi Investment Authority, HDFC and Central Bank of India hold 12.56 per cent, 9.02 per cent and 7.67 per cent, respectively, in the cash-strapped company. The country’s largest lender SBI has around 7 per cent stake in the company.
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