Total fund requirement is worth Rs 80,000 cr to add 9,000 MW
Mumbai: The World Bank has launched consultations with the ministries of finance and new and renewable energy for financing solar projects under phase II of the National Solar Mission.
“The World Bank is really impressed with the performance of phase I of the National Solar Mission wherein, the installed capacity has risen to 2,000 Mw from 30 Mw. The World Bank was engaged with the ministry of new and renewable energy during phase I in working out the policy and putting in place necessary guidelines but had not provided funds. However, during phase II, the World bank is quite keen to finance solar projects,” Ashish Khanna, lead energy specialist told Business Standard. He however, declined to divulge further details in this regard. The total requirement of funds is of the order of Rs 80,000 crore ($13 billion) of which, as high as Rs 54,000 crore ($9 billion) will be debt based on a 70:30 debt equity ratio. The World Bank has expressed that it was keen to partially finance debt requirement.
Khanna said of the total debt requirement of Rs 54,000 crore, much needed to come from the scheduled commercial banks.
“During the first phase, commercial banks had lent $700 million and they need to scale up to the levels envisaged. In order to make investment in solar power more attractive for scheduled commercial banks, the government will need to strategically use scarce public resources to leverage commercial financing, address structural barriers that prevent commercial banks from participating and facilitate appropriate technology deployment,” Khanna added.
Khanna said the role of facilitating public funding in leveraging commercial lending on a sustained basis through risk reducing instruments as well as innovations in financing is significant and imperative for moving solar development to a largely non-recourse financing mode in India. The World Bank in its report titled, “Paving the way for a Transformational Future: Lessons from Jawaharlal Nehru National Solar Mission Phase I”, suggests that the government could offer multiple financial solutions involving viability gap fund, generation-based incentives, credit guarantees, credit lines to banks at a concession to cut interest rates and subordinate public finance to extend the tenor of loans. According to the World Bank, using public financing for extending the tenor of a loan and providing subordinated debt is least expensive among all other options, with the objective of reducing the solar tariff to Rs 5.50 per unit.
Success in my Habit
Monday, December 23, 2013
PepsiCo plans largest India plant in Andhra Pradesh
Plans investment of Rs 1,230 cr; Phase I to be ready by next year
Hyderabad: PepsiCo India will set up a new beverage plant, poised to be the largest such factory for the company in India, at Sri City industrial park, close to the Andhra Pradesh-Tamil Nadu border.
Coming up on 80 acres, the first phase of the project entails an investment of Rs 450 crore and would be operational by the third or fourth quarter of the next financial year, according to D Shivakumar, chairman and managing director, who took charge 10 days ago.
This is part of a three-phase investment of Rs 1,230 crore in the factory, with the final phase proposed to be completed by 2018, he said.
Chief minister N Kiran Kumar Reddy formally laid the foundation stone for the plant at a function held here on Saturday.
The new plant is also part of the global beverages player’s recent announcement that it was going to make a new investment of Rs 33,000 crore in the country, with its partners, by 2020.
The plant would produce the full range of beverages — carbonated drinks, fruit-based drinks and sports drinks. Each of the three phases will have a production capacity of around 1.2 million litres a day.
Shivakumar said the plan to set up a much larger plant in Andhra Pradesh signified not just the presence of a strong local market but also the growth at large in the country.
“India is a high priority market for PepsiCo and there are lot of opportunities to expand our food & beverage business in the coming years. This is the physical manifestation of our commitment towards investment in the country,” he said.
The company is also planning to make this location as the national hub for sourcing mango pulp, given the large numbers of mango orchards in Andhra Pradesh. “We plan to increase pulp procurement from Andhra Pradesh for all our plants and the state could become a national hub for mango pulp, thus benefiting around 60,000 farmers across Chittoor, Prakasam and Nellore districts,” Shivakumar said.
PepsiCo already has a beverage plant at Sangareddy near Hyderabad, which supplies to the state and neighbouring Karnataka. The company, which refused to share the revenue or the market share figures, said eight of its brands generate around Rs 1,000 crore each in revenues in India.
Hyderabad: PepsiCo India will set up a new beverage plant, poised to be the largest such factory for the company in India, at Sri City industrial park, close to the Andhra Pradesh-Tamil Nadu border.
Coming up on 80 acres, the first phase of the project entails an investment of Rs 450 crore and would be operational by the third or fourth quarter of the next financial year, according to D Shivakumar, chairman and managing director, who took charge 10 days ago.
This is part of a three-phase investment of Rs 1,230 crore in the factory, with the final phase proposed to be completed by 2018, he said.
Chief minister N Kiran Kumar Reddy formally laid the foundation stone for the plant at a function held here on Saturday.
The new plant is also part of the global beverages player’s recent announcement that it was going to make a new investment of Rs 33,000 crore in the country, with its partners, by 2020.
The plant would produce the full range of beverages — carbonated drinks, fruit-based drinks and sports drinks. Each of the three phases will have a production capacity of around 1.2 million litres a day.
Shivakumar said the plan to set up a much larger plant in Andhra Pradesh signified not just the presence of a strong local market but also the growth at large in the country.
“India is a high priority market for PepsiCo and there are lot of opportunities to expand our food & beverage business in the coming years. This is the physical manifestation of our commitment towards investment in the country,” he said.
The company is also planning to make this location as the national hub for sourcing mango pulp, given the large numbers of mango orchards in Andhra Pradesh. “We plan to increase pulp procurement from Andhra Pradesh for all our plants and the state could become a national hub for mango pulp, thus benefiting around 60,000 farmers across Chittoor, Prakasam and Nellore districts,” Shivakumar said.
PepsiCo already has a beverage plant at Sangareddy near Hyderabad, which supplies to the state and neighbouring Karnataka. The company, which refused to share the revenue or the market share figures, said eight of its brands generate around Rs 1,000 crore each in revenues in India.
Wipro announces $2.8 million fellowship focussed on STEM education in US
Bengaluru: India's third largest software exporter Wipro has announced a $2.8 million grant to nurture excellence in science and mathematics in the United States through a multi-year fellowship programme. The programme, focussed on building leadership in these disciplines, will involve over a hundred school teachers and be conducted jointly with the Michigan State University. It will start with the public school systems of Chicago.
Wipro's announcement follows other recent announcements from Cognizant Technology Solutions and Tata Consultancy Services. Earlier this month, Cognizant announced a three year, $150,000 commitment to support university-sponsored science, technology, engineering and math (STEM) education programs at Texas A&M University in College Station, Texas.
Teachers committed to teaching in urban schools will be identified after a rigorous selection process, the company said. Participants will be elementary or secondary school educators.
Wipro said its initiative is aligned with the US national goal to significantly improve the quality of education in the STEM subjects. "Wipro is committed to being an involved participant in its communities. This initiative seeks to develop and inspire young people to contribute to excellence in STEM education," said TK Kurien, CEO, Wipro.
Successful participants will earn a graduate certificate in STEM Teaching and Leadership and also become part of the STEM Urban Learning & Leadership Community. "There is a critical shortage of excellent math and science teachers nationwide and even more so in urban school districts," said project co-leader Sonya Gunnings-Moton, assistant dean in the College of Education, Michigan State University. "We need leaders among teachers who can build not only their own capacity to improve learning, but also the capacity of their colleagues."
Aarti Dhupelia, Chief Officer of College and Career Success at Chicago Public Schools said, "The cornerstone of providing a high quality STEM education for our students is ensuring we have exceptional math and science teachers leading the way. We are so grateful for this partnership with Wipro and Michigan State University that will have a transformational impact in our classrooms and communities."
This is the second such program that Wipro has kicked off in the past 16 months in the US. In 2012, Wipro and the University of Massachusetts, Boston (UMass Boston) jointly launched a fellowship program across 10 districts of Boston and Newark area in STEM Education, with the aim of fostering excellence. Wipro said it employs more than 10,000 professionals across 48 states in the US
Wipro's announcement follows other recent announcements from Cognizant Technology Solutions and Tata Consultancy Services. Earlier this month, Cognizant announced a three year, $150,000 commitment to support university-sponsored science, technology, engineering and math (STEM) education programs at Texas A&M University in College Station, Texas.
Teachers committed to teaching in urban schools will be identified after a rigorous selection process, the company said. Participants will be elementary or secondary school educators.
Wipro said its initiative is aligned with the US national goal to significantly improve the quality of education in the STEM subjects. "Wipro is committed to being an involved participant in its communities. This initiative seeks to develop and inspire young people to contribute to excellence in STEM education," said TK Kurien, CEO, Wipro.
Successful participants will earn a graduate certificate in STEM Teaching and Leadership and also become part of the STEM Urban Learning & Leadership Community. "There is a critical shortage of excellent math and science teachers nationwide and even more so in urban school districts," said project co-leader Sonya Gunnings-Moton, assistant dean in the College of Education, Michigan State University. "We need leaders among teachers who can build not only their own capacity to improve learning, but also the capacity of their colleagues."
Aarti Dhupelia, Chief Officer of College and Career Success at Chicago Public Schools said, "The cornerstone of providing a high quality STEM education for our students is ensuring we have exceptional math and science teachers leading the way. We are so grateful for this partnership with Wipro and Michigan State University that will have a transformational impact in our classrooms and communities."
This is the second such program that Wipro has kicked off in the past 16 months in the US. In 2012, Wipro and the University of Massachusetts, Boston (UMass Boston) jointly launched a fellowship program across 10 districts of Boston and Newark area in STEM Education, with the aim of fostering excellence. Wipro said it employs more than 10,000 professionals across 48 states in the US
NTPC to set up first 800-Mw hydro project
800 Mw Koldam to be operational next fiscal
New Delhi: State-owned power generator NTPC Ltd on Thursday started filling up the reservoir of its first hydro power project, the 800-Megawatt (Mw) Koldam in Himachal Pradesh. The 163-metre reservoir is likely to be filled over the next 11 months leading to the commissioning of the project next financial year.
“Koldam project, with four units of 200 Mw each, will provide peaking capacity to the Northern Grid and generate 3,054-Gw-hour electricity annually,” the company said in a statement.
The project was planned 12 years ago with an estimated investment of Rs 4,527 crore. However, delays on account of “geological surprises” led to an estimated 20 per cent cost overrun. “Koldam project, with four units of 200 Mw each, will provide peaking capacity to the Northern grid and generate 3,054-Gw-hour electricity annually,” the company said in a statement.
The project is located on Satluj river in Bilaspur district. Around 12 per cent of its power would be supplied to the host state for free. The rest would be transmitted to seven northern states. State-owned transmission utility Power Grid Corporation (PGCIL) is currently laying down the transmission network for the project. Thanks to the high silt content of the Satluj, the life of the reservoir is limited to 30 years.
NTPC is currently constructing 1,500-Mw hydro capacity, including 800-Mw Koldam, 520-Mw Tapovan Vishnugad and 171 Mw-Lata Tapovan in Uttarakhand, apart from an 8-Mw Singrauli hydro project in UP.
The company has installed capacity of 42,454 Mw, around 19 per cent of India’s total capacity. NTPC operates 16 coal-based and seven gas-based projects apart from six power stations in joint ventures
New Delhi: State-owned power generator NTPC Ltd on Thursday started filling up the reservoir of its first hydro power project, the 800-Megawatt (Mw) Koldam in Himachal Pradesh. The 163-metre reservoir is likely to be filled over the next 11 months leading to the commissioning of the project next financial year.
“Koldam project, with four units of 200 Mw each, will provide peaking capacity to the Northern Grid and generate 3,054-Gw-hour electricity annually,” the company said in a statement.
The project was planned 12 years ago with an estimated investment of Rs 4,527 crore. However, delays on account of “geological surprises” led to an estimated 20 per cent cost overrun. “Koldam project, with four units of 200 Mw each, will provide peaking capacity to the Northern grid and generate 3,054-Gw-hour electricity annually,” the company said in a statement.
The project is located on Satluj river in Bilaspur district. Around 12 per cent of its power would be supplied to the host state for free. The rest would be transmitted to seven northern states. State-owned transmission utility Power Grid Corporation (PGCIL) is currently laying down the transmission network for the project. Thanks to the high silt content of the Satluj, the life of the reservoir is limited to 30 years.
NTPC is currently constructing 1,500-Mw hydro capacity, including 800-Mw Koldam, 520-Mw Tapovan Vishnugad and 171 Mw-Lata Tapovan in Uttarakhand, apart from an 8-Mw Singrauli hydro project in UP.
The company has installed capacity of 42,454 Mw, around 19 per cent of India’s total capacity. NTPC operates 16 coal-based and seven gas-based projects apart from six power stations in joint ventures
BlackBerry to set up enterprise solutions centres in India
New Delhi: BlackBerry has chosen India as the third country after the US and UK to set up enterprise solutions centres to educate corporate customers about various BlackBerry Enterprise Service (BES) 10 solutions, as the troubled smartphone maker eyes corporate clients in a market where it has lost a lot of retail share.
The company will set up two enterprise solutions centres in Mumbai and Gurgaon, Black-Berry India MD Sunil Lalvani told ET. Customers will experience BlackBerry's mobility management solutions, hosted and cloud-based options besides the enterprise server solutions at these centres that will also exhibit in-market smartphones, security architecture and ways of improving a company's productivity using these solutions.
"India is one of the fastest growing markets in terms of smartphone and mobile data adoption. This has directly impacted in the way Indian companies are adopting and implementing mobility solutions," Lalvani said. "We are seeing great traction for our enterprise offerings in the India market and are committed to grow our investments to support this."
These centres will also train BlackBerry Enterprise value added resellers and customers on deploying BES 10, and will offer courses to certify IT administrators managing a BES infrastructure or want to enhance their skills on BlackBerry Enterprise Solutions. BlackBerry has seen relatively better success in the enterprise segment while its market share in the consumer smartphone space has been falling drastically.
In an earlier interaction, BlackBerry spokesperson for India and Saarc, Varghese Thomas, had told ET that the company had seen significant uptake of BlackBerry 10 and BES10, particularly among the corporate segment in India.
The company will set up two enterprise solutions centres in Mumbai and Gurgaon, Black-Berry India MD Sunil Lalvani told ET. Customers will experience BlackBerry's mobility management solutions, hosted and cloud-based options besides the enterprise server solutions at these centres that will also exhibit in-market smartphones, security architecture and ways of improving a company's productivity using these solutions.
"India is one of the fastest growing markets in terms of smartphone and mobile data adoption. This has directly impacted in the way Indian companies are adopting and implementing mobility solutions," Lalvani said. "We are seeing great traction for our enterprise offerings in the India market and are committed to grow our investments to support this."
These centres will also train BlackBerry Enterprise value added resellers and customers on deploying BES 10, and will offer courses to certify IT administrators managing a BES infrastructure or want to enhance their skills on BlackBerry Enterprise Solutions. BlackBerry has seen relatively better success in the enterprise segment while its market share in the consumer smartphone space has been falling drastically.
In an earlier interaction, BlackBerry spokesperson for India and Saarc, Varghese Thomas, had told ET that the company had seen significant uptake of BlackBerry 10 and BES10, particularly among the corporate segment in India.
Carlyle Group invests in Global Health
Mumbai: Private equity major The Carlyle Group has made a strategic minority investment in Indian hospital and healthcare provider Global Health Private Ltd. The financial details of the investment were not disclosed.
The investment, which also included acquisition of a significant equity stake held by an affiliate of Avenue Capital Group, was made by Anant Investments. Anant Investments is an affiliate of Carlyle Asia Partners III, the PE firm said in a statement.
Led by cardiac surgeon Dr Naresh Trehan, Global Health operates a 900 bed hospital in the National Capital Region of Delhi. It provides super-specialty care in cardiology, neurology, gastro, liver transplant and orthopedics with prominent doctors in each field.
Global Health owns ‘Medanta-the Medicity’, a super-specialty hospital, in Gurgaon.
“We see high growth potential in the healthcare industry in India driven by improving income profiles leading to higher hospitalisation and treatment frequency. And the National Capital Region of Delhi, where Global Health is operating, has rapidly emerged as a healthcare hub,” said Neeraj Bharadwaj, Managing Director of The Carlyle Group.
Including this transaction, Carlyle has invested and committed about $1.1 billion in India as of September 30, 2013.
The investment, which also included acquisition of a significant equity stake held by an affiliate of Avenue Capital Group, was made by Anant Investments. Anant Investments is an affiliate of Carlyle Asia Partners III, the PE firm said in a statement.
Led by cardiac surgeon Dr Naresh Trehan, Global Health operates a 900 bed hospital in the National Capital Region of Delhi. It provides super-specialty care in cardiology, neurology, gastro, liver transplant and orthopedics with prominent doctors in each field.
Global Health owns ‘Medanta-the Medicity’, a super-specialty hospital, in Gurgaon.
“We see high growth potential in the healthcare industry in India driven by improving income profiles leading to higher hospitalisation and treatment frequency. And the National Capital Region of Delhi, where Global Health is operating, has rapidly emerged as a healthcare hub,” said Neeraj Bharadwaj, Managing Director of The Carlyle Group.
Including this transaction, Carlyle has invested and committed about $1.1 billion in India as of September 30, 2013.
Jute exports expected to rise 33% this year
Chennai: Exports of jute products from the country is expected to touch Rs 2,800 crore in value in 2013-14 on the back of an increase in demand from the West, said Beela Rajesh, Executive Director, Handloom Export Promotion Council, Ministry of Textiles.
In 2012-13, exports stood at Rs 2,094 crore.
The global jute import market, which went through a lean period from 2011 to mid-2012, is picking up again as top markets Europe and the US restarted buying.
Growing acceptance of jute bags as a personal accessory, and shopping bags made of the fibre for its eco-friendly nature, are brightening its prospects in the West, she said, adding that floor coverings, wall hangings, gunny bags, and gift articles are also being bought.
Data put up by the Directorate General of Commercial Intelligence and Statistics says export of floor coverings totalled Rs 142.9 crore during April-September 2013,while jute Hessian bags touched Rs 405 crore and other jute products hit Rs 475.4 crore, signalling strong demand.
“Jute, originally, was not used for purposes beyond covering floors. But with treatment and printing, it looks and feels as good as fabric,” she said speaking at a buyer-seller meet organised by National Jute Board in association with Federation of Indian Export Organisations.
National Jute Board and Jute Product Development and Export Promotion Council, set up in 2011, are funding entrepreneurs interested in jute product manufacturing, and helping manufacturers upgrade facilities.
Traditionally based in West Bengal, the jute business is spreading to Karnataka and Tamil Nadu.
At the exposition, manufacturers from the South showcased printed wall hangings that were treated to smoothen the texture of the fibre, something that will find purchase in Western markets, said T. Ayyapan, Market Promotion Officer, NJB.
In 2012-13, exports stood at Rs 2,094 crore.
The global jute import market, which went through a lean period from 2011 to mid-2012, is picking up again as top markets Europe and the US restarted buying.
Growing acceptance of jute bags as a personal accessory, and shopping bags made of the fibre for its eco-friendly nature, are brightening its prospects in the West, she said, adding that floor coverings, wall hangings, gunny bags, and gift articles are also being bought.
Data put up by the Directorate General of Commercial Intelligence and Statistics says export of floor coverings totalled Rs 142.9 crore during April-September 2013,while jute Hessian bags touched Rs 405 crore and other jute products hit Rs 475.4 crore, signalling strong demand.
“Jute, originally, was not used for purposes beyond covering floors. But with treatment and printing, it looks and feels as good as fabric,” she said speaking at a buyer-seller meet organised by National Jute Board in association with Federation of Indian Export Organisations.
National Jute Board and Jute Product Development and Export Promotion Council, set up in 2011, are funding entrepreneurs interested in jute product manufacturing, and helping manufacturers upgrade facilities.
Traditionally based in West Bengal, the jute business is spreading to Karnataka and Tamil Nadu.
At the exposition, manufacturers from the South showcased printed wall hangings that were treated to smoothen the texture of the fibre, something that will find purchase in Western markets, said T. Ayyapan, Market Promotion Officer, NJB.
3 More Indian Institutes Sign MoU with the International Centre for Promotion of Enterprises
New Delhi: Three more academic institutes: (i) Administrative Staff College of India, Hyderabad; (ii) Indian Institute of Public Administration, New Delhi and (iii) International Management Institute, New Delhi here today separately signed MoU with the International Centre for Promotion of Enterprises (ICPE). The Acting Director General, ICPE, who is visiting India signed the MoU with the Heads of these Institutes in the presence of Shri Praful Patel, Minister of Heavy Industries and Public Enterprises. Secretary, Department of Public Enterprises (DPE), is currently the ex-officio President of ICPE Council. At the initiative of DPE, the academic / research ties between ICPE and some reputed Indian institutes have been strengthened.
ICPE was established in Ljubljana, Slovenia, at the initiative of the United Nations in 1974. Nineteen countries including India, Sri Lanka and Bangladesh are currently members of ICPE. One of the main objectives of ICPE is to promote and support enterprises in developing countries to foster their economic development, and in pursuit thereof share and undertake research, education, training, consultancy, documentation and publication of management related information.
It is expected that the signing of MoUs will go a long way in promoting professionalism and executive development in Public Enterprises of India and Slovenia, and will also open new avenues of co-operation and collaboration between them. The Heads of all three Institutes present for the signing of MoU with ICPE expressed the desire to have short-term and long-term courses with a part of the academic curriculum / research programmes shared by the Indian Institutes and part of the course be conducted in India. The Institute of Public Enterprises, Hyderabad, already has a Memorandum of Understanding with ICPE.
ICPE regularly conducts short-term and long-term courses, including a one year MBA programme. Government of India has regularly nominated government officers and public sector executives to attend the courses / programmes conducted by ICPE. Till date more than 600 officials / executives from India have successfully completed their MBA course from ICPE.
ICPE was established in Ljubljana, Slovenia, at the initiative of the United Nations in 1974. Nineteen countries including India, Sri Lanka and Bangladesh are currently members of ICPE. One of the main objectives of ICPE is to promote and support enterprises in developing countries to foster their economic development, and in pursuit thereof share and undertake research, education, training, consultancy, documentation and publication of management related information.
It is expected that the signing of MoUs will go a long way in promoting professionalism and executive development in Public Enterprises of India and Slovenia, and will also open new avenues of co-operation and collaboration between them. The Heads of all three Institutes present for the signing of MoU with ICPE expressed the desire to have short-term and long-term courses with a part of the academic curriculum / research programmes shared by the Indian Institutes and part of the course be conducted in India. The Institute of Public Enterprises, Hyderabad, already has a Memorandum of Understanding with ICPE.
ICPE regularly conducts short-term and long-term courses, including a one year MBA programme. Government of India has regularly nominated government officers and public sector executives to attend the courses / programmes conducted by ICPE. Till date more than 600 officials / executives from India have successfully completed their MBA course from ICPE.
Thursday, December 19, 2013
Alstom bags €125 m order from BHEL
Alstom will co-operate with BHEL in conceptualising, designing, engineering and supplying two tower boilers and the complete lignite milling and firing equipment, and critical components, the company said in a statement.
The 1,000 mw green field NNTPP being developed by Neyveli Lignite Corporation Limited, will be the first lignite –fired 1,000 mw power plant in the country and major source of power to the southern states.
US-based JDA Software plans to invest Rs 500 cr in India
The $1,065-million turnover company, with headquarters in Scottsdale, entered the Indian market with the acquisition of Manugistics Group, which has a product development centre in Hyderabad, for $210 million in 2006. It consolidated its India presence with the acquisition of i2 Technologies for about $600 million in 2010.
“Our aim is to mature from a software company to a solutions company in India, with products to suit different segments such as automotive and pharmaceutical. Currently, we have solutions that cover the entire supply chain structure from production level to warehousing, inventory management, distribution, transport management and networking development,” Abel A Correa, Vice-President (Product Development), told Business Line.
Part of the investment will go towards scaling up its existing R&D facility in India, which at present handles about 50-60 per cent of its global product research and development. “We are aiming to increase this share to 70 per cent by 2015,” he said.
To hire more
As it expands its product portfolio, the firm intends to expand its workforce from the current 1800 to 2,500 in the next two years. It is focussing on cloud-related products for the retail sector, as Indian retailers are beginning to seek third-party cloud services.
“Our focus in the next six months will be on cloud offerings, which would go beyond just offering to bank their (retailers’) software on our services. Our cloud services will seek to guide them on operating their software for optimising revenues,” Correa added.
It offers its products both as a package and individual services. “For example, we have a product just for shelf planning in retail stores. Our product will provide a 3-D walk through a proposed store and give out placement of products on a shelf, depending on its depth and width,” he pointed out
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